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 40 lenders originated 160 VA loans during 2023. The total origination value was $97,690,000, with an average VA loan value of $610,563.

Santa Maria VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Santa Maria averaged 6.54% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

Santa Maria's average VA mortgage closing costs are $7,626.

The average rate for the prior week (2024-05-17) was 6.77% and one month ago for the week of 2024-04-19, the average rate was 6.94%.

The average rate one year ago was 6.31%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.54%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 22 6.23% $8,887
QUICKEN LOANS, LLC 14 6.14% $12,832
Mortgage Research Center, LLC 12 6.32% $15,324
LOANDEPOT.COM, LLC 11 6.01% $17,263
GUARANTEED RATE, INC. 10 6.08% $11,418
FREEDOM MORTGAGE CORPORATION 6 6.42% $14,113
MOVEMENT MORTGAGE, LLC 6 6.35% $10,934
NAVY FEDERAL CREDIT UNION 5 5.73% $5,016
CROSSCOUNTRY MORTGAGE, LLC 5 6.41% $11,524
CMG MORTGAGE, INC. 5 6.20% $16,479
CARDINAL FINANCIAL 4 6.09% $10,971
USAA Federal Savings Bank 4 6.19% $12,144
GUILD MORTGAGE COMPANY 4 6.25% $6,829
HOMEOWNERS FINANCIAL GROUP USA, LLC 4 6.88% $21,901
Century Mortgage Company DBA Century Lending Company 4 5.94% $17,346
CORNERSTONE HOME LENDING, INC. 3 6.58% $27,121
PENNYMAC LOAN SERVICES, LLC 3 5.63% $16,725
The Federal Savings Bank 3 6.08% $16,584
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.25% $7,281
AMERICAN FINANCIAL NETWORK, INC. 2 6.56% $1,174
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.44% $9,195
ENVOY MORTGAGE, LTD 2 6.50% $20,188
Farmers Bank & Trust 2 5.13% $19,174
HOMESIDE FINANCIAL, LLC 1 6.75% $13,744
KD CAPITAL MORTGAGE CORPORATION 1 6.75% $9,313
Golden Empire Mortgage, Inc. 1 6.25% $29,041
Magnolia Bank 1 5.75% $32,103
Flagstar Bank, FSB 1 5.38% $9,747
FIRST COMMUNITY MORTGAGE, INC. 1 5.63% $14,110
NATIONS DIRECT MORTGAGE, LLC 1 5.50% $29,031
COASTAL FUNDING SLC, INC. 1 6.25% $26,483
Paramount Residential Mortgage Group, Inc. 1 6.75% $13,843
CHURCHILL MORTGAGE CORPORATION 1 5.63% $5,777
PLANET HOME LENDING, LLC 1 6.38% $9,701
AXIA FINANCIAL, LLC 1 6.99% $8,519
SECURITYNATIONAL MORTGAGE COMPANY 1 5.75% $6,530
AUGUSTA FINANCIAL, INC. 1 6.50% $5,400
AMERISAVE MORTGAGE CORPORATION 1 5.75% $15,995
American Mortgage & Equity Consultants, Inc. 1 6.63% $4,497
U.S. Bank 1 6.25% $10,398

The top Santa Maria VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 22 VA loans originated. Their average total fees are $8,887, which is $3,945 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Santa Maria VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($8,887), GUARANTEED RATE, INC. ($11,418), QUICKEN LOANS, LLC ($12,832), Mortgage Research Center, LLC ($15,324) and LOANDEPOT.COM, LLC ($17,263).

The lowest rate Santa Maria VA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (6.01%), GUARANTEED RATE, INC. (6.08%), QUICKEN LOANS, LLC (6.14%), UNITED WHOLESALE MORTGAGE, LLC (6.23%) and Mortgage Research Center, LLC (6.32%).


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
2024-01-01 $1,749,500 (40.0%) $5,009,413 (34.3%) 4.27 380
2024-02-01 $1,779,750 (32.5%) $4,981,103 (27.0%) 4.28 372
2024-03-01 $1,950,000 (28.9%) $4,850,374 (11.6%) 4.59 403
2024-04-01 $1,899,500 (0.2%) $4,439,844 (-2.4%) 4.42 467
Santa Maria's median listing price for 2024-04-01 was $1,899,500, a difference of $4,500 (0.2%) versus the prior year and $-50,500 versus the prior month.

Santa Maria's median listing price comes in at 442% of the national average.

Santa Maria's average listing price for 2024-04-01 was $4,439,844, a difference of $-108,958 (-2.4%) versus the prior year and $-410,530 versus the prior month.

For the 2024-04-01 period, Santa Maria had 467 MLS listings, a difference of 64 listings (16%) versus the prior month and 220 listings (89%) 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 2,268 sqft
2020-07-01 57 days 2,284 sqft
2020-08-01 46 days 2,287 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 2,003 sqft
2023-04-01 40 days 2,132 sqft
2023-05-01 33 days 2,272 sqft
2023-06-01 34 days 2,238 sqft
2023-07-01 32 days 2,197 sqft
2023-08-01 39 days 2,200 sqft
2023-09-01 46 days 2,183 sqft
2023-10-01 46 days 2,254 sqft
2023-11-01 48 days 2,237 sqft
2023-12-01 52 days 2,168 sqft
2024-01-01 65 days 2,106 sqft
2024-02-01 56 days 2,116 sqft
2024-03-01 47 days 2,072 sqft
2024-04-01 41 days 2,024 sqft
Santa Maria's median listing age (time on market) for 2024-04-01 was 41 days. This is 3% longer than the same period one year ago.

Santa Maria's median square footage for active listings during the 2024-04-01 period was 2,024 sqft. One year prior, the average listing was 2,132 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.