Santa Maria VA Loans

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 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 107 lenders originated 1,241 VA loans during 2021. The total origination value was $561,945,000, with an average VA loan value of $452,816.

Santa Maria VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Santa Maria averaged 5.31% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.62% and one month ago for the week of 2022-04-15, the average rate was 4.98%.

The average rate one year ago was 3.27%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.04%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Santa Maria level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 95 2.37% $6,239
FREEDOM MORTGAGE CORPORATION 91 2.37% $4,062
HOME POINT FINANCIAL CORPORATION 78 2.44% $6,666
UNITED WHOLESALE MORTGAGE, LLC 75 2.42% $5,628
PENNYMAC LOAN SERVICES, LLC 66 2.28% $7,139
GUILD MORTGAGE COMPANY 58 2.55% $8,111
Mortgage Research Center, LLC 57 2.68% $10,219
LOANDEPOT.COM, LLC 51 2.50% $5,296
CALIBER HOME LOANS, INC. 44 2.41% $6,746
VILLAGE CAPITAL & INVESTMENT LLC 33 2.27% $5,689
HOMEBRIDGE FINANCIAL SERVICES, INC. 27 2.57% $8,887
NEWREZ LLC 21 2.49% $5,971
LAKEVIEW LOAN SERVICING, LLC 20 2.35% $2,561
NAVY FEDERAL CREDIT UNION 18 2.47% $6,390
USAA Federal Savings Bank 17 2.93% $6,674
LENDUS, LLC 16 2.68% $4,686
CLEARPATH LENDING 13 2.27% $6,003
ENVOY MORTGAGE, LTD 12 2.74% $10,408
CROSSCOUNTRY MORTGAGE, LLC 12 2.82% $9,057
Mr. Cooper ( Nationstar Mortgage ) 12 2.47% $4,921
Wells Fargo Bank 12 2.43% $7,003
CMG MORTGAGE, INC. 10 2.55% $13,291
The Federal Savings Bank 10 2.55% $9,838
Lakeview Community Capital, LLC 9 2.35% $2,607
GUARANTEED RATE, INC. 9 2.51% $7,935
COASTAL FUNDING SLC, INC. 8 2.73% $9,382
AMERICAN FINANCIAL NETWORK, INC. 8 2.61% $12,057
BROKER SOLUTIONS, INC. 8 2.44% $5,504
NEW DAY FINANCIAL, LLC 8 2.78% $11,315
HOMEOWNERS FINANCIAL GROUP USA, LLC 8 2.84% $12,293
North American Savings Bank, F.S.B. 7 2.25% $4,652
CORNERSTONE HOME LENDING, INC. 6 2.69% $9,167
Carrington Mortgage Services, LLC 6 2.94% $6,841
MEGA CAPITAL FUNDING, INC. 5 2.38% $6,140
Barrington Bank & Trust Company, N.A. 5 2.64% $2,006
NBKC BANK 5 2.55% $4,687
SOVEREIGN LENDING GROUP INCORPORATED 5 2.28% $8,655
Paramount Residential Mortgage Group, Inc. 5 3.03% $3,148
MOVEMENT MORTGAGE, LLC 4 2.97% $5,757
PENTAGON FEDERAL CREDIT UNION 4 2.38% $7,428
BNC National Bank 4 2.44% $4,653
STEARNS LENDING, LLC 4 2.28% $11,297
AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.88% $21,762
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.37% $4,526
Flagstar Bank, FSB 4 2.34% $6,552
Golden Empire Mortgage, Inc. 4 2.50% $3,649
AMERISAVE MORTGAGE CORPORATION 4 2.50% $7,113
CENTRAL COAST LENDING, INC. 3 2.38% $14,847
InterContinental Capital Group, Inc 3 2.25% $2,614
Low VA Rates, LLC 3 2.25% $7,375
MASON MCDUFFIE MORTGAGE CORPORATION 3 2.46% $6,513
PLANET HOME LENDING, LLC 3 2.25% $2,318
ACCELERATE MORTGAGE, LLC 3 2.25% $5,334
Commerce Home Mortgage, Inc. 3 2.58% $8,382
NETWORK CAPITAL FUNDING CORPORATION 3 2.25% $3,432
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.50% $20,238
GENEVA FINANCIAL, LLC 3 2.63% $10,926
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.04% $7,539
Prosperity Home Mortgage, LLC 3 2.58% $3,181
SUN WEST MORTGAGE COMPANY, INC. 3 2.63% $2,150
FINANCE OF AMERICA MORTGAGE LLC 3 2.67% $12,252
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 2.75% $9,508
HighTechLending Inc 2 2.56% $3,928
COASTHILLS 2 3.25% $2,059
Sierra Pacific Mortgage Company, Inc. 2 2.69% $5,462
KS StateBank 2 2.31% $6,007
CELEBRITY HOME LOANS, LLC 2 2.88% $6,597
BEST CAPITAL FUNDING 2 2.50% $9,223
PLAZA HOME MORTGAGE, INC. 2 3.81% $17,743
LOANPAL, LLC 2 2.37% $11,923
NP, Inc. 2 2.31% $4,555
MORIA DEVELOPMENT, INC. 1 2.38% $3,803
AMERICAN FINANCIAL RESOURCES, INC. 1 2.88% $6,568
AMERICAN FINANCING CORPORATION 1 2.63% $21,252
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.13% $17,212
AmRes Corporation 1 2.25% $951
Bank of England 1 2.25% $4,919
BOKF 1 3.00% $3,987
Century Mortgage Company DBA Century Lending Company 1 2.25% $4,181
CHOICE LENDING CORP. 1 2.25% $4,012
CHURCHILL MORTGAGE CORPORATION 1 2.63% $4,517
CUSTOMER SERVICE MORTGAGE CORPORATION 1 2.75% $23,673
DIGNIFIED HOME LOANS, LLC 1 2.75% $15,113
DRAPER AND KRAMER MORTGAGE CORP. 1 2.25% $2,440
EMBRACE HOME LOANS, INC. 1 2.38% $2,092
Equity Prime Mortgage LLC 1 3.38% $18,629
First Guaranty Mortgage Corporation 1 2.75% $23,883
First Home Bank 1 2.25% $4,182
First Mortgage Solutions, LLC 1 2.25% $2,818
First Western Trust Bank 1 2.25% $3,046
Home Mortgage Alliance Corp 1 2.25% $4,084
HOMESIDE FINANCIAL, LLC 1 2.25% $6,756
Hometown Equity Mortgage, LLC 1 3.63% $17,824
KINGS MORTGAGE SERVICES, INC. 1 3.13% $15,486
ACADEMY MORTGAGE CORPORATION 1 2.75% $22,512
MORTGAGE 2000, INC. 1 2.38% $7,371
MORTGAGEONE, INC. 1 2.38% $4,031
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.38% $14,875
Northpointe Bank 1 2.50% $45,226
Paramount Bank 1 2.88% $13,422
PARKSIDE LENDING, LLC 1 2.25% $21,099
PREMIER LENDING, INC. 1 2.25% $3,141
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.00% $8,364
SNAPFI, INC. 1 2.75% $25,830
Strong Home Mortgage, LLC 1 2.75% $642
Sunflower Bank 1 2.49% $3,553
THRIVE MORTGAGE, LLC 1 3.25% $28,732

The top Santa Maria VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 95 VA loans originated. Their average total fees are $6,239, which is $2,176 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Santa Maria VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,561), FREEDOM MORTGAGE CORPORATION ($4,062), LENDUS, LLC ($4,686), Mr. Cooper ( Nationstar Mortgage ) ($4,921) and LOANDEPOT.COM, LLC ($5,296).

The lowest rate Santa Maria VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.27%), CLEARPATH LENDING (2.27%), PENNYMAC LOAN SERVICES, LLC (2.28%), LAKEVIEW LOAN SERVICING, LLC (2.35%) and FREEDOM MORTGAGE CORPORATION (2.37%).


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 $968,000 (-16.7%) $3,085,926 (-6.2%) 3.56 1,029
2018-02-01 $1,013,500 (-15.5%) $3,116,840 (-7.4%) 3.66 1,073
2018-03-01 $975,000 (-23.2%) $2,862,015 (-15.9%) 3.37 1,166
2018-04-01 $1,012,500 (-21.8%) $2,691,424 (-17.5%) 3.40 1,305
2018-05-01 $984,500 (-15.0%) $2,546,804 (-17.3%) 3.28 1,429
2018-06-01 $999,000 (-9.1%) $2,494,348 (-18.5%) 3.33 1,506
2018-07-01 $1,039,000 (-5.6%) $2,516,833 (-17.4%) 3.46 1,570
2018-08-01 $979,500 (-1.9%) $2,457,229 (-19.0%) 3.27 1,574
2018-09-01 $969,000 (-3.1%) $2,465,400 (-20.8%) 3.24 1,579
2018-10-01 $972,000 (-11.5%) $2,522,777 (-19.7%) 3.25 1,556
2018-11-01 $975,000 (-2.4%) $2,552,275 (-19.2%) 3.27 1,556
2018-12-01 $979,000 (0.4%) $2,624,985 (-18.8%) 3.35 1,440
2019-01-01 $950,000 (-1.9%) $2,565,229 (-16.9%) 3.28 1,322
2019-02-01 $939,000 (-7.4%) $2,514,003 (-19.3%) 3.15 1,251
2019-03-01 $992,429 (1.8%) $2,754,294 (-3.8%) 3.23 1,283
2019-04-01 $1,082,000 (6.9%) $2,815,115 (4.6%) 3.41 1,372
2019-05-01 $1,107,500 (12.5%) $2,867,902 (12.6%) 3.41 1,489
2019-06-01 $1,149,000 (15.0%) $2,962,512 (18.8%) 3.54 1,500
2019-07-01 $1,249,950 (20.3%) $3,050,407 (21.2%) 3.88 1,505
2019-08-01 $1,271,000 (29.8%) $3,138,502 (27.7%) 4.00 1,465
2019-09-01 $1,295,500 (33.7%) $3,234,170 (31.2%) 4.11 1,432
2019-10-01 $1,262,000 (29.8%) $3,214,760 (27.4%) 4.03 1,366
2019-11-01 $1,295,000 (32.8%) $3,262,875 (27.8%) 4.18 1,272
2019-12-01 $1,297,000 (32.5%) $3,466,301 (32.1%) 4.32 1,093
2020-01-01 $1,372,500 (44.5%) $3,592,424 (40.0%) 4.58 938
2020-02-01 $1,535,000 (63.5%) $3,791,744 (50.8%) 4.95 930
2020-03-01 $1,750,000 (76.3%) $3,776,368 (37.1%) 5.47 964
2020-04-01 $1,461,000 (35.0%) $3,450,550 (22.6%) 4.55 973
2020-05-01 $1,350,000 (21.9%) $3,323,253 (15.9%) 4.09 1,042
2020-06-01 $1,471,000 (28.0%) $3,390,174 (14.4%) 4.30 986
2020-07-01 $1,596,500 (27.7%) $3,664,277 (20.1%) 4.57 880
2020-08-01 $1,795,000 (41.2%) $3,926,551 (25.1%) 5.13 826
2020-09-01 $2,022,000 (56.1%) $4,354,281 (34.6%) 5.78 753
2020-10-01 $1,895,000 (50.2%) $4,377,815 (36.2%) 5.41 692
2020-11-01 $2,125,000 (64.1%) $4,764,115 (46.0%) 6.08 664
2020-12-01 $2,087,500 (61.0%) $4,976,904 (43.6%) 6.12 571
2021-01-01 $2,185,000 (59.2%) $5,129,861 (42.8%) 6.43 487
2021-02-01 $1,798,000 (17.1%) $4,798,050 (26.5%) 5.17 481
2021-03-01 $1,922,500 (9.9%) $5,412,007 (43.3%) 5.39 438
2021-04-01 $1,835,000 (25.6%) $5,260,241 (52.5%) 4.93 421
2021-05-01 $1,395,000 (3.3%) $5,080,682 (52.9%) 3.67 411
2021-06-01 $1,395,000 (-5.2%) $5,010,583 (47.8%) 3.62 475
2021-07-01 $1,237,500 (-22.5%) $5,077,384 (38.6%) 3.21 493
2021-08-01 $1,266,000 (-29.5%) $5,785,297 (47.3%) 3.33 487
2021-09-01 $1,410,000 (-30.3%) $5,836,507 (34.0%) 3.71 468
2021-10-01 $1,325,000 (-30.1%) $6,520,036 (48.9%) 3.49 432
2021-11-01 $1,392,500 (-34.5%) $6,604,272 (38.6%) 3.67 401
2021-12-01 $1,397,000 (-33.1%) $6,766,062 (36.0%) 3.73 373
2022-01-01 $1,495,000 (-31.6%) $6,945,975 (35.4%) 3.99 311
2022-02-01 $1,625,000 (-9.6%) $6,757,804 (40.8%) 4.14 292
2022-03-01 $1,497,500 (-22.1%) $6,912,830 (27.7%) 3.70 323
2022-04-01 $1,450,000 (-21.0%) $6,590,594 (25.3%) 3.41 356
Santa Maria's median listing price for 2022-04-01 was $1,450,000, a difference of $-385,000 (-21.0%) versus the prior year and $-47,500 versus the prior month.

Santa Maria's median listing price comes in at 341% of the national average.

Santa Maria's average listing price for 2022-04-01 was $6,590,594, a difference of $1,330,353 (25.3%) versus the prior year and $-322,236 versus the prior month.

For the 2022-04-01 period, Santa Maria had 356 MLS listings, a difference of 33 listings (10%) versus the prior month and -65 listings (-15%) 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 89 days 2,152 sqft
2018-02-01 73 days 2,193 sqft
2018-03-01 49 days 2,169 sqft
2018-04-01 49 days 2,167 sqft
2018-05-01 50 days 2,146 sqft
2018-06-01 57 days 2,144 sqft
2018-07-01 60 days 2,072 sqft
2018-08-01 63 days 2,036 sqft
2018-09-01 67 days 2,011 sqft
2018-10-01 72 days 2,008 sqft
2018-11-01 71 days 2,011 sqft
2018-12-01 84 days 2,044 sqft
2019-01-01 89 days 2,057 sqft
2019-02-01 85 days 2,045 sqft
2019-03-01 74 days 2,070 sqft
2019-04-01 58 days 2,108 sqft
2019-05-01 52 days 2,128 sqft
2019-06-01 58 days 2,159 sqft
2019-07-01 69 days 2,254 sqft
2019-08-01 73 days 2,260 sqft
2019-09-01 75 days 2,270 sqft
2019-10-01 73 days 2,287 sqft
2019-11-01 77 days 2,304 sqft
2019-12-01 88 days 2,284 sqft
2020-01-01 96 days 2,353 sqft
2020-02-01 93 days 2,413 sqft
2020-03-01 59 days 2,453 sqft
2020-04-01 68 days 2,293 sqft
2020-05-01 72 days 2,353 sqft
2020-06-01 56 days 2,335 sqft
2020-07-01 60 days 2,319 sqft
2020-08-01 53 days 2,305 sqft
2020-09-01 48 days 2,466 sqft
2020-10-01 50 days 2,398 sqft
2020-11-01 56 days 2,482 sqft
2020-12-01 58 days 2,437 sqft
2021-01-01 64 days 2,371 sqft
2021-02-01 45 days 2,111 sqft
2021-03-01 38 days 2,203 sqft
2021-04-01 35 days 2,176 sqft
2021-05-01 32 days 2,085 sqft
2021-06-01 24 days 2,049 sqft
2021-07-01 28 days 2,102 sqft
2021-08-01 31 days 2,170 sqft
2021-09-01 32 days 2,139 sqft
2021-10-01 35 days 2,127 sqft
2021-11-01 35 days 2,194 sqft
2021-12-01 44 days 2,148 sqft
2022-01-01 50 days 2,100 sqft
2022-02-01 35 days 2,178 sqft
2022-03-01 22 days 2,017 sqft
2022-04-01 24 days 2,030 sqft
Santa Maria's median listing age (time on market) for 2022-04-01 was 24 days. This is -30% shorter than the same period one year ago.

Santa Maria's median square footage for active listings during the 2022-04-01 period was 2,030 sqft. One year prior, the average listing was 2,176 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.