Santa Maria VA Loan Rates, Closing Costs & Stats

SANTA MARIA-SANTA BARBARA, CA

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    • 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 46 lenders originated 257 VA loans during 2024. The total origination value was $171,905,000, with an average VA loan value of $668,891.

    Santa Maria VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Santa Maria averaged 0.61% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Santa Maria's average VA mortgage closing costs are $7,820.

    The average rate for the prior week (2025-06-13) was 6.95% and one month ago for the week of 2025-05-16, the average rate was 6.91%.

    The average rate one year ago was 6.71%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.03%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 61 5.94% $8,534
    Mortgage Research Center, LLC 21 6.36% $7,133
    QUICKEN LOANS, LLC 15 5.86% $8,662
    GUARANTEED RATE, INC. 14 6.03% $6,893
    MOVEMENT MORTGAGE, LLC 11 5.99% $15,503
    FREEDOM MORTGAGE CORPORATION 11 6.07% $15,068
    LOANDEPOT.COM, LLC 11 5.59% $14,701
    Paramount Residential Mortgage Group, Inc. 9 6.26% $14,068
    GUILD MORTGAGE COMPANY 8 5.81% $13,935
    Century Mortgage Company DBA Century Lending Company 7 5.96% $7,697
    NAVY FEDERAL CREDIT UNION 7 5.63% $11,155
    CMG MORTGAGE, INC. 6 5.77% $10,251
    NEWREZ LLC 5 6.13% $15,811
    CROSSCOUNTRY MORTGAGE, LLC 4 6.25% $7,598
    PENNYMAC LOAN SERVICES, LLC 4 5.97% $13,082
    ENVOY MORTGAGE, LTD 4 6.78% $10,393
    Equity Prime Mortgage LLC 3 6.46% $9,663
    ALAMEDA MORTGAGE CORPORATION 3 5.92% $28,630
    NEW DAY FINANCIAL, LLC 2 7.24% $12,687
    Carrington Mortgage Services, LLC 2 6.44% $14,070
    COASTAL FUNDING SLC, INC. 2 6.38% $8,612
    DIGNIFIED HOME LOANS, LLC 2 6.25% $10,589
    First Federal Bank 2 5.63% $11,274
    Golden Empire Mortgage, Inc. 2 6.13% $15,767
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 5.75% $21,154
    Magnolia Bank 2 5.94% $35,709
    Sierra Pacific Mortgage Company, Inc. 2 6.31% $9,150
    SUN WEST MORTGAGE COMPANY, INC. 2 5.69% $23,746
    U.S. Bank 2 6.44% $13,589
    VILLAGE CAPITAL MORTGAGE 2 5.63% $6,705
    OCMBC, INC. 1 6.50% $3,701
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $11,625
    COASTHILLS 1 6.13% $4,669
    PLANET HOME LENDING, LLC 1 5.50% $1,072
    Prosperity Home Mortgage, LLC 1 6.12% $15,494
    CLEARPATH LENDING 1 4.99% $11,942
    USAA Federal Savings Bank 1 5.50% $5,595
    V.I.P. MORTGAGE, INC. 1 6.13% $4,873
    The Federal Savings Bank 1 5.75% $33,874
    The Loan Store, Inc. 1 6.63% $5,724
    TruHome Solutions, LLC 1 6.13% $10,059
    CARDINAL FINANCIAL 1 6.75% $44,983
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $25,460
    INTERCAP LENDING INC. 1 6.63% $16,650
    HOMESIDE FINANCIAL, LLC 1 5.75% $9,014
    FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $14,491

    The top Santa Maria VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 61 VA loans originated. Their average total fees are $8,534, which is $1,401 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Santa Maria VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. ($6,893), Mortgage Research Center, LLC ($7,133), UNITED WHOLESALE MORTGAGE, LLC ($8,534), QUICKEN LOANS, LLC ($8,662) and LOANDEPOT.COM, LLC ($14,701).

    The lowest rate Santa Maria VA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (5.59%), QUICKEN LOANS, LLC (5.86%), UNITED WHOLESALE MORTGAGE, LLC (5.94%), MOVEMENT MORTGAGE, LLC (5.99%) and GUARANTEED RATE, INC. (6.03%).

    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.