Riverside FHA Loan Rates, Closing Costs & Stats

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Riverside's 250 lenders originated 13,839 FHA loans during 2023. The total origination value was $6,095,085,000, with an average FHA loan value of $440,428.

Riverside FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Riverside averaged -0.09% for the week of 2024-06-21, compared to the national average (all FHA variants) of 0% for the same period.

Riverside's average FHA mortgage closing costs are $12,016.

The average rate for the prior week (2024-06-14) was 6.61% and one month ago for the week of 2024-05-17, the average rate was 6.75%.

The average rate one year ago was 6.24%.

For refis of the same type during the week of 2024-06-21, the average rate was -0.05%.

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

Riverside FHA Loan Lenders by Rates & Fees

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

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 2,700 6.17% $18,656
QUICKEN LOANS, LLC 1,030 6.08% $16,899
LOANDEPOT.COM, LLC 608 6.03% $17,722
OCMBC, INC. 527 6.53% $20,143
BECKAM FUNDING CORP. 499 7.03% $26,398
Paramount Residential Mortgage Group, Inc. 491 6.48% $17,400
DHI MORTGAGE COMPANY, LTD. 485 5.47% $13,307
EAGLE HOME MORTGAGE, LLC 410 5.33% $15,621
AMERICAN FINANCIAL NETWORK, INC. 272 6.66% $19,589
BROKER SOLUTIONS, INC. 225 6.54% $19,004
SUN WEST MORTGAGE COMPANY, INC. 209 6.48% $18,462
CROSSCOUNTRY MORTGAGE, LLC 206 6.50% $18,398
KBHS HOME LOANS, LLC 190 6.15% $22,886
PENNYMAC LOAN SERVICES, LLC 174 6.17% $16,845
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 159 6.42% $18,057
Franklin Loan Corporation 145 6.55% $17,800
AMERICAN PACIFIC MORTGAGE CORPORATION 132 6.48% $21,180
HOMEAMERICAN MORTGAGE CORPORATION 124 5.81% $13,024
Golden Empire Mortgage, Inc. 123 6.52% $20,992
BAY-VALLEY MORTGAGE GROUP 100 6.66% $20,004
FREEDOM MORTGAGE CORPORATION 99 6.63% $19,528
MOVEMENT MORTGAGE, LLC 96 6.44% $18,999
Century Mortgage Company DBA Century Lending Company 85 6.31% $17,553
GUARANTEED RATE, INC. 81 6.30% $17,134
Carrington Mortgage Services, LLC 80 6.39% $18,043
NEWREZ LLC 79 6.33% $18,691
ML Mortgage Corp. 79 6.57% $19,726
CARDINAL FINANCIAL 76 6.05% $18,495
RESIDENTIAL BANCORP 76 6.38% $20,122
U.S. Bank 75 6.27% $19,555
MOUNTAIN WEST FINANCIAL, INC. 70 6.38% $17,917
AHL FUNDING 66 6.66% $22,801
NATIONS DIRECT MORTGAGE, LLC 65 6.36% $17,947
Hometown Equity Mortgage, LLC 65 6.13% $18,283
CMG MORTGAGE, INC. 64 6.36% $20,454
Sierra Pacific Mortgage Company, Inc. 64 6.35% $21,389
HOMEBRIDGE FINANCIAL SERVICES, INC. 63 6.10% $18,966
PLANET HOME LENDING, LLC 62 6.08% $16,936
VISION ONE MORTGAGE, INC. 61 6.37% $13,516
Equity Prime Mortgage LLC 61 6.77% $19,040
FBC MORTGAGE, LLC 61 5.98% $16,181
HOME APPROVALS DIRECT, INC. 60 6.45% $19,789
South Pacific Financial Corporation 58 5.80% $14,860
GEO-CORP, INC. 56 7.24% $23,457
First-Citizens Bank & Trust Company 54 5.69% $19,587
ARK-LA-TEX FINANCIAL SERVICES, LLC. 54 6.39% $18,375
INSPIRE HOME LOANS INC. 52 5.39% $14,289
GUILD MORTGAGE COMPANY 51 6.45% $19,849
Performance Financial, Inc. 50 6.68% $21,153
ST FIN CORP 48 6.69% $20,876
Flagstar Bank, FSB 46 6.45% $16,924
PRIMELENDING, A PLAINSCAPITAL COMPANY 46 6.45% $19,241
Mr. Cooper ( Nationstar Mortgage ) 45 6.34% $19,695
AXIA FINANCIAL, LLC 45 6.28% $19,247
DRAPER AND KRAMER MORTGAGE CORP. 43 6.09% $19,811
PULTE MORTGAGE LLC 43 5.99% $10,662
MORTGAGE SOLUTIONS OF COLORADO, LLC 42 7.00% $16,648
POINT Mortgage 41 6.42% $17,997
AMERISAVE MORTGAGE CORPORATION 37 5.98% $19,903
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 37 6.76% $17,505
VILLAGE CAPITAL MORTGAGE 32 6.01% $16,428
Plains Commerce Bank 32 6.09% $18,749
CALCON MUTUAL MORTGAGE LLC 31 6.81% $21,235
NFM, INC. 29 6.40% $19,733
MUTUAL OF OMAHA MORTGAGE, INC. 29 6.53% $19,290
BAY EQUITY LLC 28 6.49% $18,257
iCore Lending, Inc. 28 6.67% $21,383
LOANPAL, LLC 27 5.63% $19,283
JPMorgan Chase Bank 25 6.24% $13,366
BANC ONE MORTGAGE CORPORATION 25 6.34% $7,707
JMJ FINANCIAL GROUP 24 6.21% $24,055
United Fidelity Funding Corp. 22 6.90% $20,568
FIRST NATIONS HOME FINANCE CORPORATION 22 6.66% $11,032
RESIDENTIAL WHOLESALE MORTGAGE, INC. 21 6.48% $19,134
ONY GLO, INC. 21 6.86% $18,132
Lakeview Community Capital, LLC 21 6.29% $16,729
SCHOOLSFIRST 20 6.43% $12,851
MICHIGAN MUTUAL, INC. 20 6.07% $20,194
ACADEMY MORTGAGE CORPORATION 20 6.24% $17,136
LADERA LENDING, INC. 19 6.30% $16,062
MK LENDING CORP. 19 6.32% $21,528
LAKEVIEW LOAN SERVICING, LLC 18 6.00% $17,114
SUMMIT FUNDING, INC. 18 6.47% $19,921
AMERITRUST MORTGAGE CORPORATION 17 6.68% $20,022
UNION HOME MORTGAGE CORP. 16 6.57% $19,867
PLAZA HOME MORTGAGE, INC. 16 6.46% $18,235
CHURCHILL MORTGAGE CORPORATION 16 6.30% $20,937
Nations Lending Corporation 16 6.55% $15,029
CHOICE LENDING CORP. 15 6.32% $14,303
ZILLOW HOME LOANS, LLC 15 6.33% $16,769
ENVOY MORTGAGE, LTD 15 6.89% $17,072
NETWORK CAPITAL FUNDING CORPORATION 13 6.16% $15,289
SECURITYNATIONAL MORTGAGE COMPANY 13 6.66% $18,936
GENEVA FINANCIAL, LLC 12 7.02% $19,024
Prosperity Home Mortgage, LLC 12 6.30% $15,701
American Mortgage & Equity Consultants, Inc. 12 6.79% $20,738
CAMPOS FINANCIAL CORP. 12 6.56% $18,133
CHERRY CREEK MORTGAGE, LLC 11 6.20% $6,132
DIRECT MORTGAGE, CORP. 11 6.16% $22,172
PANORAMA MORTGAGE GROUP, LLC 11 6.35% $19,942
PACIFIC RESIDENTIAL MORTGAGE, LLC 11 6.33% $19,227
Platinum Home Mortgage Corporation 11 6.38% $18,368
TOP FLITE FINANCIAL, INC. 11 6.85% $16,117
JMAC LENDING, INC. 11 6.35% $18,027
MID AMERICA MORTGAGE, INC. 11 6.77% $8,728
INTELLILOAN, INC. 10 6.17% $16,476
GUARANTEED RATE AFFINITY, LLC 10 6.14% $18,276
LENDING 3, INC. 9 6.68% $18,989
Mortgage Research Center, LLC 9 6.55% $10,053
S1L, Inc. 9 6.44% $16,833
WALL FINANCIAL, INC. 8 6.47% $23,753
EVERETT FINANCIAL, INC. 8 6.63% $19,328
Cornerstone First Mortgage, Inc 8 6.63% $15,910
AmeriHome Mortgage Company, LLC 8 6.23% $15,776
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 6.88% $17,127
Bank of America 7 6.05% $14,494
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 7 5.55% $19,566
HOMESIDE FINANCIAL, LLC 7 6.68% $15,703
AMERICAN FINANCIAL RESOURCES, INC. 6 6.56% $17,275
The Federal Savings Bank 6 6.42% $23,825
VERITAS FUNDING, LLC 6 6.33% $16,747
CORNERSTONE HOME LENDING, INC. 6 6.75% $19,348
PENTAGON FEDERAL CREDIT UNION 6 5.79% $16,734
LOANLEADERS OF AMERICA, INC. 6 6.19% $20,030
HighTechLending Inc 6 6.23% $16,875
CANOPY MORTGAGE, LLC 6 6.16% $17,165
PNC Bank 5 6.38% $18,397
Alaska USA Federal Credit Union 5 6.90% $10,500
Barrington Bank & Trust Company, N.A. 5 6.53% $12,839
BRIDGELOCK CAPITAL 5 6.60% $15,399
EMM LOANS LLC 5 5.80% $20,647
FIRST CENTENNIAL MORTGAGE CORPORATION 5 5.70% $21,041
First Standard Financial Corp. 5 6.55% $24,128
HOME FUNDING CORPORATION 5 6.33% $24,468
LAND HOME FINANCIAL SERVICES, INC. 5 6.70% $21,466
MORTGAGE MANAGEMENT CONSULTANTS, INC. 5 6.55% $17,612
NEW WAVE LENDING GROUP INC 5 6.95% $16,641
NexBank 5 5.90% $14,460
Commerce Home Mortgage, Inc. 4 6.91% $15,943
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 4 6.34% $16,933
Arvest Bank 4 6.34% $13,331
PHH Mortgage Corporation 4 6.40% $15,451
MLD MORTGAGE INC. 4 6.72% $16,128
AMERICAN FINANCING CORPORATION 4 6.53% $17,389
NuVision Federal Credit Union 4 5.63% $14,215
MASON MCDUFFIE MORTGAGE CORPORATION 4 6.37% $22,166
Loan Simple, Inc. 4 6.50% $19,507
DIGNIFIED HOME LOANS, LLC 3 7.33% $16,759
MORTGAGE CAPITAL PARTNERS, INC. 3 6.08% $16,994
Watermark Capital, Inc. 3 6.04% $13,106
Waterstone Mortgage Corporation 3 6.50% $11,166
Wells Fargo Bank 3 5.71% $13,696
DATA MORTGAGE, INC. 3 6.88% $23,181
BEST FINANCE CAPITAL, INC. 3 6.75% $21,554
First Bank 3 6.46% $11,700
RELIANCE FIRST CAPITAL, LLC 3 5.63% $12,727
Strong Home Mortgage, LLC 3 6.38% $17,648
NBKC BANK 3 6.00% $14,427
CASTLE & COOKE MORTGAGE, LLC 3 5.88% $25,261
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.79% $17,688
The Loan Store, Inc. 3 7.29% $11,337
BM Real Estate Services, Inc. 3 6.33% $15,844
AMCAP MORTGAGE, LTD. 2 6.62% $21,471
ALTURA 2 6.88% $17,899
First Federal Bank 2 5.56% $21,629
HomeStreet Bank 2 6.56% $13,206
NOVA FINANCIAL & INVESTMENT CORPORATION 2 6.75% $10,555
FirstBank 2 7.00% $10,246
CITYWIDE HOME LOANS, LLC 2 6.81% $19,227
ALAMEDA MORTGAGE CORPORATION 2 5.56% $20,681
Citizens Bank 2 5.88% $14,930
NATIONWIDE MORTGAGE BANKERS, INC. 2 6.62% $19,893
Northpointe Bank 2 5.75% $13,637
Shea Mortgage Inc. 2 5.44% $9,890
SOUTHWEST STAGE FUNDING, LLC 2 6.13% $7,409
SOVEREIGN LENDING GROUP INCORPORATED 2 5.56% $15,267
BMO Harris Bank 2 6.38% $11,328
Summit Mortgage Corporation 2 6.00% $16,896
EMBRACE HOME LOANS, INC. 2 6.81% $17,031
SWBC MORTGAGE CORPORATION 2 7.00% $15,620
RANLIFE, INC. 2 5.56% $18,741
TJC Mortgage, Inc. 2 6.06% $22,998
AUGUSTA FINANCIAL, INC. 2 6.56% $17,107
ISERVE RESIDENTIAL LENDING, LLC 2 7.13% $15,287
AmRes Corporation 2 7.19% $16,668
MORIA DEVELOPMENT, INC. 2 6.94% $28,650
PRIMUS LENDING CORP. 2 7.06% $26,018
VAN DYK MORTGAGE CORPORATION 2 7.19% $24,895
INTERCAP LENDING INC. 2 7.31% $15,869
ON Q FINANCIAL, INC. 2 6.50% $17,041
TOWNE MORTGAGE COMPANY 1 7.50% $25,533
ARC HOME LLC 1 5.00% $22,122
University Bank 1 4.63% $15,724
Ameris Bank 1 6.75% $15,603
Victorian Finance, LLC 1 6.50% $18,445
V.I.P. MORTGAGE, INC. 1 7.25% $18,938
Wallick & Volk, Inc. 1 6.25% $12,694
MANN FINANCIAL INC. 1 7.13% $21,032
MEGASTAR FINANCIAL CORP. 1 6.13% $19,222
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.50% $20,377
Mid-Continent Funding, Inc. 1 5.25% $35,983
LEADERONE FINANCIAL CORPORATION 1 5.50% $33,379
KINECTA 1 6.00% $24,274
WILLOW BEND MORTGAGE COMPANY, LLC 1 6.63% $17,222
Keystone Funding, Inc. 1 6.13% $33,288
JET DIRECT FUNDING CORP 1 6.25% $10,601
Ixonia Bank 1 6.00% $24,035
INTERNATIONAL CITY MORTGAGE, INC. 1 6.25% $17,447
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.50% $20,173
GSF Mortgage Corporation 1 6.13% $23,272
NEW DAY FINANCIAL, LLC 1 8.00% $5,881
FLAT BRANCH MORTGAGE, INC. 1 6.25% $12,795
Wyndham Capital Mortgage, Inc. 1 5.75% $10,516
NEW WEST LENDING, INC. 1 6.38% $9,373
First Savings Bank 1 5.75% $12,230
NMSI, INC. 1 6.63% $21,210
NORWICH COMMERCIAL GROUP, INC. 1 6.25% $13,831
NP, Inc. 1 6.13% $33,583
OAKTREE FUNDING CORP. 1 6.25% $17,958
First Horizon Bank 1 6.13% $28,967
Old National Bank 1 5.63% $11,631
OPEN MORTGAGE, LLC 1 6.88% $18,054
Financial Partners Credit Union 1 5.99% $14,545
FINANCE OF AMERICA MORTGAGE LLC 1 4.88% $14,288
Evolve Bank & Trust 1 7.13% $24,584
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.99% $13,278
Encompass Lending Group, LP 1 7.25% $13,835
DEL SUR CORPORATION 1 5.75% $17,482
PREMIA MORTGAGE, LLC 1 6.25% $8,443
PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $11,827
DAS Acquisition Company, LLC 1 5.75% $29,423
CUSTOMER SERVICE MORTGAGE CORPORATION 1 6.63% $15,087
CONTOUR MORTGAGE CORPORATION 1 5.50% $22,000
COMMUNITY MORTGAGE FUNDING, LLC 1 5.50% $29,153
COMMUNITYAMERICA 1 7.13% $10,310
RADIUS FINANCIAL GROUP INC. 1 7.25% $16,484
Residential Mortgage Solutions, Inc. 1 5.75% $19,521
ROYAL UNITED MORTGAGE LLC 1 5.88% $16,411
RUOFF MORTGAGE COMPANY, INC. 1 6.50% $22,918
San Diego Funding 1 5.75% $16,685
Citibank 1 6.38% $8,503
CENTRAL COAST LENDING, INC. 1 6.13% $11,855
STOCKTON MORTGAGE CORPORATION 1 6.75% $20,716
BETTER MORTGAGE CORPORATION 1 6.13% $19,659
Sunflower Bank 1 6.63% $21,716
T2 FINANCIAL LLC 1 7.38% $23,026
The Central Trust Bank 1 6.75% $16,440
Bank of England 1 6.75% $18,186
THE GOLDEN 1 1 5.75% $22,914
TOTAL MORTGAGE SERVICES, LLC 1 6.25% $13,725

The top Riverside FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2,700 FHA loans originated. Their average total fees are $18,656, which is $1,757 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Riverside FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($6,132), BANC ONE MORTGAGE CORPORATION ($7,707), MID AMERICA MORTGAGE, INC. ($8,728), PULTE MORTGAGE LLC ($10,662) and FIRST NATIONS HOME FINANCE CORPORATION ($11,032).

The lowest rate Riverside FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.33%), INSPIRE HOME LOANS INC. (5.39%), DHI MORTGAGE COMPANY, LTD. (5.47%), LOANPAL, LLC (5.63%) and First-Citizens Bank & Trust Company (5.69%).

Riverside FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA RIVERSIDE 2022 $562,350 $719,900 $870,200 $1,081,450
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA SAN BERNARDINO 2022 $562,350 $719,900 $870,200 $1,081,450
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA RIVERSIDE 2023 $644,000 $824,450 $996,550 $1,238,500
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA SAN BERNARDINO 2023 $644,000 $824,450 $996,550 $1,238,500

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).