Santa Maria VA Loan Rates, Closing Costs & Stats

SANTA MARIA-SANTA BARBARA, CA

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Santa Maria's 67 lenders originated 361 VA loans during 2022. The total origination value was $203,045,000, with an average VA loan value of $562,452.

Santa Maria VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Santa Maria averaged 6.15% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

Santa Maria's average VA mortgage closing costs are $7,431.

The average rate for the prior week (2024-02-09) was 5.91% and one month ago for the week of 2024-01-12, the average rate was 5.57%.

The average rate one year ago was 5.44%.

For refis of the same type during the week of 2024-02-16, the average rate was 4.61%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Santa Maria VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Santa Maria level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 53 3.87% $10,301
QUICKEN LOANS, LLC 33 3.77% $17,851
LOANDEPOT.COM, LLC 30 3.79% $16,246
Mortgage Research Center, LLC 21 4.70% $12,334
FREEDOM MORTGAGE CORPORATION 17 3.45% $11,217
CROSSCOUNTRY MORTGAGE, LLC 14 4.69% $9,581
GUILD MORTGAGE COMPANY 14 4.28% $16,189
CMG MORTGAGE, INC. 13 3.72% $11,717
HOME POINT FINANCIAL CORPORATION 12 4.05% $12,017
NAVY FEDERAL CREDIT UNION 10 3.95% $9,322
PENNYMAC LOAN SERVICES, LLC 10 3.19% $13,465
NEW DAY FINANCIAL, LLC 7 4.51% $12,611
COASTAL FUNDING SLC, INC. 6 3.85% $18,914
The Federal Savings Bank 6 3.90% $21,766
ENVOY MORTGAGE, LTD 6 4.54% $9,553
GUARANTEED RATE, INC. 6 5.37% $9,826
CALIBER HOME LOANS, INC. 6 4.48% $13,541
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 4.73% $14,903
USAA Federal Savings Bank 5 3.85% $14,623
Golden Empire Mortgage, Inc. 5 3.85% $24,925
CORNERSTONE HOME LENDING, INC. 4 4.56% $12,939
Paramount Residential Mortgage Group, Inc. 4 5.69% $8,382
CLEARPATH LENDING 3 2.71% $9,382
AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.25% $21,342
AMERISAVE MORTGAGE CORPORATION 2 5.13% $23,049
BEST CAPITAL FUNDING 2 3.75% $4,036
First Federal Bank 2 5.18% $20,618
LAKEVIEW LOAN SERVICING, LLC 2 3.38% $7,948
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 4.88% $19,929
MOVEMENT MORTGAGE, LLC 2 4.13% $12,804
Mr. Cooper ( Nationstar Mortgage ) 2 5.19% $21,105
NEWREZ LLC 2 3.75% $11,092
PLANET HOME LENDING, LLC 2 4.06% $6,312
PLAZA HOME MORTGAGE, INC. 2 6.00% $10,650
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.25% $17,873
Wells Fargo Bank 2 3.38% $10,556
LOANPAL, LLC 1 2.63% $9,814
Magnolia Bank 1 4.63% $28,550
DIGNIFIED HOME LOANS, LLC 1 5.38% $7,526
SECURITYNATIONAL MORTGAGE COMPANY 1 4.75% $11,423
Strong Home Mortgage, LLC 1 2.49% $33,443
SUN WEST MORTGAGE COMPANY, INC. 1 2.63% $6,813
NATIONS DIRECT MORTGAGE, LLC 1 5.63% $19,398
NATIONS RELIABLE LENDING, LLC 1 3.25% $15,286
CONTOUR MORTGAGE CORPORATION 1 5.00% $24,896
NBKC BANK 1 5.13% $1,151
COASTHILLS 1 3.13% $11,296
BNC National Bank 1 2.88% $3,604
NFM, INC. 1 4.63% $13,803
Northpointe Bank 1 4.50% $12,603
Pacific Lending LLC 1 4.75% $10,928
CHERRY CREEK MORTGAGE, LLC 1 4.88% $21,230
CENTRAL COAST LENDING, INC. 1 3.25% $18,659
PENTAGON FEDERAL CREDIT UNION 1 3.63% $15,368
Armed Forces Bank 1 3.25% $11,649
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.25% $3,511
VILLAGE CAPITAL MORTGAGE 1 3.88% $19,116
CARDINAL FINANCIAL 1 3.63% $50,055
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.88% $18,627
GENEVA FINANCIAL, LLC 1 4.25% $11,968
GUARANTY HOME MORTGAGE CORPORATION 1 4.75% $10,650
Florida Capital Bank 1 4.75% $9,368
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.88% $19,949
FLAT BRANCH MORTGAGE, INC. 1 3.38% $16,004
FIRST COMMUNITY MORTGAGE, INC. 1 6.50% $3,291
S1L, Inc. 1 5.25% $20,654
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.50% $17,487

The top Santa Maria VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 53 VA loans originated. Their average total fees are $10,301, which is $7,551 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Santa Maria VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($9,322), CROSSCOUNTRY MORTGAGE, LLC ($9,581), UNITED WHOLESALE MORTGAGE, LLC ($10,301), FREEDOM MORTGAGE CORPORATION ($11,217) and CMG MORTGAGE, INC. ($11,717).

The lowest rate Santa Maria VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.19%), FREEDOM MORTGAGE CORPORATION (3.45%), CMG MORTGAGE, INC. (3.72%), QUICKEN LOANS, LLC (3.77%) and LOANDEPOT.COM, LLC (3.79%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Santa Maria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $993,000 (-9.3%) $3,110,227 (3.8%) 3.68 749
2018-02-01 $1,088,750 (0.5%) $3,110,107 (2.0%) 3.95 784
2018-03-01 $999,000 (-10.7%) $2,883,456 (-8.3%) 3.51 849
2018-04-01 $1,049,250 (-12.4%) $2,705,619 (-15.9%) 3.56 944
2018-05-01 $1,043,000 (-11.7%) $2,580,283 (-17.2%) 3.48 1,031
2018-06-01 $1,049,000 (-6.8%) $2,466,002 (-21.0%) 3.50 1,100
2018-07-01 $1,088,000 (-3.3%) $2,477,554 (-20.3%) 3.63 1,142
2018-08-01 $997,748 (-1.2%) $2,402,452 (-21.3%) 3.34 1,158
2018-09-01 $995,000 (-0.5%) $2,424,501 (-22.5%) 3.34 1,149
2018-10-01 $995,000 (-9.1%) $2,449,067 (-22.2%) 3.37 1,113
2018-11-01 $986,500 (-7.7%) $2,483,975 (-22.5%) 3.34 1,113
2018-12-01 $975,000 (-2.4%) $2,576,667 (-22.0%) 3.36 1,012
2019-01-01 $957,500 (-3.6%) $2,522,925 (-18.9%) 3.31 956
2019-02-01 $944,500 (-13.3%) $2,556,480 (-17.8%) 3.19 895
2019-03-01 $1,029,286 (3.0%) $2,762,751 (-4.2%) 3.37 918
2019-04-01 $1,100,000 (4.8%) $2,782,906 (2.9%) 3.49 974
2019-05-01 $1,149,500 (10.2%) $2,815,965 (9.1%) 3.59 1,043
2019-06-01 $1,175,000 (12.0%) $2,907,853 (17.9%) 3.67 1,051
2019-07-01 $1,244,950 (14.4%) $2,920,288 (17.9%) 3.90 1,058
2019-08-01 $1,231,364 (23.4%) $3,024,719 (25.9%) 3.90 1,026
2019-09-01 $1,255,909 (26.2%) $3,114,258 (28.5%) 4.02 995
2019-10-01 $1,272,273 (27.9%) $3,157,820 (28.9%) 4.10 970
2019-11-01 $1,349,450 (36.8%) $3,257,299 (31.1%) 4.42 904
2019-12-01 $1,338,500 (37.3%) $3,435,683 (33.3%) 4.46 763
2020-01-01 $1,387,500 (44.9%) $3,566,971 (41.4%) 4.64 678
2020-02-01 $1,495,000 (58.3%) $3,671,847 (43.6%) 4.89 678
2020-03-01 $1,578,000 (53.3%) $3,635,533 (31.6%) 4.95 705
2020-04-01 $1,397,750 (27.1%) $3,317,297 (19.2%) 4.38 711
2020-05-01 $1,350,000 (17.4%) $3,170,821 (12.6%) 4.10 766
2020-06-01 $1,485,000 (26.4%) $3,331,976 (14.6%) 4.37 727
2020-07-01 $1,580,000 (26.9%) $3,564,307 (22.1%) 4.58 652
2020-08-01 $1,735,000 (40.9%) $3,840,069 (27.0%) 4.97 612
2020-09-01 $1,875,000 (49.3%) $4,151,481 (33.3%) 5.37 560
2020-10-01 $1,811,750 (42.4%) $4,130,227 (30.8%) 5.19 515
2020-11-01 $1,811,750 (34.3%) $4,379,570 (34.5%) 5.30 461
2020-12-01 $1,828,750 (36.6%) $4,508,722 (31.2%) 5.44 406
2021-01-01 $1,875,000 (35.1%) $4,767,634 (33.7%) 5.60 343
2021-02-01 $1,597,500 (6.9%) $4,409,100 (20.1%) 4.65 336
2021-03-01 $1,680,000 (6.5%) $5,031,699 (38.4%) 4.77 310
2021-04-01 $1,523,000 (9.0%) $4,628,793 (39.5%) 4.12 301
2021-05-01 $1,395,000 (3.3%) $4,535,119 (43.0%) 3.71 295
2021-06-01 $1,297,250 (-12.6%) $4,418,558 (32.6%) 3.41 342
2021-07-01 $1,200,000 (-24.1%) $4,532,433 (27.2%) 3.17 347
2021-08-01 $1,196,000 (-31.1%) $5,126,322 (33.5%) 3.19 333
2021-09-01 $1,326,000 (-29.3%) $5,071,788 (22.2%) 3.54 323
2021-10-01 $1,270,000 (-29.9%) $5,572,701 (34.9%) 3.39 302
2021-11-01 $1,313,500 (-27.5%) $5,674,530 (29.6%) 3.51 274
2021-12-01 $1,292,500 (-29.3%) $5,583,833 (23.9%) 3.50 256
2022-01-01 $1,330,000 (-29.1%) $5,791,123 (21.5%) 3.60 222
2022-02-01 $1,474,750 (-7.7%) $5,289,702 (20.0%) 3.84 206
2022-03-01 $1,347,500 (-19.8%) $5,602,950 (11.4%) 3.37 228
2022-04-01 $1,399,000 (-8.1%) $5,518,577 (19.2%) 3.33 245
2022-05-01 $1,434,750 (2.9%) $5,112,663 (12.7%) 3.28 312
2022-06-01 $1,372,500 (5.8%) $4,982,731 (12.8%) 3.06 364
2022-07-01 $1,200,000 (0.0%) $4,231,033 (-6.7%) 2.70 492
2022-08-01 $1,269,250 (6.1%) $4,402,294 (-14.1%) 2.93 489
2022-09-01 $1,255,750 (-5.3%) $4,142,134 (-18.3%) 2.94 462
2022-10-01 $1,150,000 (-9.5%) $3,782,690 (-32.1%) 2.71 439
2022-11-01 $1,272,500 (-3.1%) $3,617,961 (-36.2%) 3.06 411
2022-12-01 $1,212,000 (-6.2%) $3,719,362 (-33.4%) 2.99 345
2023-01-01 $1,249,750 (-6.0%) $3,731,296 (-35.6%) 3.10 284
2023-02-01 $1,343,750 (-8.9%) $3,922,010 (-25.9%) 3.24 283
2023-03-01 $1,513,250 (12.3%) $4,347,494 (-22.4%) 3.57 261
2023-04-01 $1,895,000 (35.5%) $4,548,802 (-17.6%) 4.41 247
2023-05-01 $2,017,500 (40.6%) $4,808,097 (-6.0%) 4.57 267
2023-06-01 $2,118,500 (54.4%) $4,844,621 (-2.8%) 4.76 287
2023-07-01 $1,996,000 (66.3%) $4,877,749 (15.3%) 4.54 355
2023-08-01 $1,960,000 (54.4%) $4,699,293 (6.8%) 4.50 371
2023-09-01 $1,895,000 (50.9%) $4,734,365 (14.3%) 4.41 402
2023-10-01 $1,902,500 (65.4%) $5,124,111 (35.5%) 4.48 410
2023-11-01 $1,822,500 (43.2%) $5,245,227 (45.0%) 4.34 425
2023-12-01 $1,795,000 (48.1%) $5,360,959 (44.1%) 4.38 393
Santa Maria's median listing price for 2023-12-01 was $1,795,000, a difference of $583,000 (48.1%) versus the prior year and $-27,500 versus the prior month.

Santa Maria's median listing price comes in at 438% of the national average.

Santa Maria's average listing price for 2023-12-01 was $5,360,959, a difference of $1,641,597 (44.1%) versus the prior year and $115,732 versus the prior month.

For the 2023-12-01 period, Santa Maria had 393 MLS listings, a difference of -32 listings (-8%) versus the prior month and 48 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Santa Maria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 87 days 2,103 sqft
2018-02-01 65 days 2,125 sqft
2018-03-01 46 days 2,087 sqft
2018-04-01 46 days 2,092 sqft
2018-05-01 46 days 2,051 sqft
2018-06-01 52 days 2,041 sqft
2018-07-01 55 days 2,021 sqft
2018-08-01 60 days 2,000 sqft
2018-09-01 64 days 2,000 sqft
2018-10-01 69 days 1,995 sqft
2018-11-01 69 days 1,994 sqft
2018-12-01 82 days 2,015 sqft
2019-01-01 87 days 2,034 sqft
2019-02-01 84 days 2,037 sqft
2019-03-01 70 days 2,044 sqft
2019-04-01 53 days 2,059 sqft
2019-05-01 51 days 2,084 sqft
2019-06-01 57 days 2,113 sqft
2019-07-01 66 days 2,169 sqft
2019-08-01 68 days 2,191 sqft
2019-09-01 69 days 2,229 sqft
2019-10-01 70 days 2,252 sqft
2019-11-01 73 days 2,281 sqft
2019-12-01 84 days 2,293 sqft
2020-01-01 90 days 2,320 sqft
2020-02-01 82 days 2,361 sqft
2020-03-01 55 days 2,369 sqft
2020-04-01 61 days 2,207 sqft
2020-05-01 64 days 2,238 sqft
2020-06-01 53 days 2,265 sqft
2020-07-01 57 days 2,284 sqft
2020-08-01 46 days 2,289 sqft
2020-09-01 46 days 2,352 sqft
2020-10-01 50 days 2,347 sqft
2020-11-01 53 days 2,392 sqft
2020-12-01 61 days 2,341 sqft
2021-01-01 60 days 2,203 sqft
2021-02-01 38 days 1,994 sqft
2021-03-01 31 days 2,097 sqft
2021-04-01 27 days 2,075 sqft
2021-05-01 25 days 2,010 sqft
2021-06-01 22 days 1,937 sqft
2021-07-01 31 days 1,949 sqft
2021-08-01 31 days 2,048 sqft
2021-09-01 31 days 1,980 sqft
2021-10-01 34 days 2,020 sqft
2021-11-01 31 days 2,131 sqft
2021-12-01 39 days 2,122 sqft
2022-01-01 43 days 1,988 sqft
2022-02-01 27 days 2,054 sqft
2022-03-01 20 days 1,989 sqft
2022-04-01 22 days 2,000 sqft
2022-05-01 25 days 2,001 sqft
2022-06-01 29 days 1,988 sqft
2022-07-01 29 days 1,955 sqft
2022-08-01 40 days 1,968 sqft
2022-09-01 48 days 1,973 sqft
2022-10-01 52 days 1,930 sqft
2022-11-01 55 days 1,909 sqft
2022-12-01 66 days 1,922 sqft
2023-01-01 73 days 2,048 sqft
2023-02-01 43 days 2,024 sqft
2023-03-01 42 days 2,000 sqft
2023-04-01 40 days 2,129 sqft
2023-05-01 33 days 2,268 sqft
2023-06-01 34 days 2,234 sqft
2023-07-01 32 days 2,197 sqft
2023-08-01 39 days 2,202 sqft
2023-09-01 46 days 2,187 sqft
2023-10-01 46 days 2,266 sqft
2023-11-01 48 days 2,243 sqft
2023-12-01 52 days 2,168 sqft
Santa Maria's median listing age (time on market) for 2023-12-01 was 52 days. This is -21% shorter than the same period one year ago.

Santa Maria's median square footage for active listings during the 2023-12-01 period was 2,168 sqft. One year prior, the average listing was 1,922 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.