Riverside FHA Loans
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 277 lenders originated 28,293 FHA loans during 2021. The total origination value was $9,587,285,000, with an average FHA loan value of $338,857.
Riverside FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Riverside
averaged
5.17%
for the week of 2022-05-20, compared to the national average (all FHA variants) of
5.352% for the same period.
The average rate for the prior week (2022-05-13) was
5.38% and
one month ago for the week of 2022-04-15, the
average rate was 5.07%.
The average rate one year ago was 3.14%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.92%.
Riverside FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Riverside level.
The top Riverside FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
1,902 FHA loans originated. Their average total fees are
$11,537, which is $2,902
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Riverside FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($3,865), MID AMERICA MORTGAGE, INC. ($4,210), LAKEVIEW LOAN SERVICING, LLC ($6,139), Lakeview Community Capital, LLC ($6,141) and AmeriHome Mortgage Company, LLC ($6,162).
The lowest rate Riverside FHA lenders (with over 10 loans originated) are
CANOPY MORTGAGE, LLC (2.42%), WESTERN EXPRESS LENDING (2.52%), FIRST CENTENNIAL MORTGAGE CORPORATION (2.54%), LOANPAL, LLC (2.56%) and InterContinental Capital Group, Inc (2.58%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Riverside (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 | $384,691 (5.1%) | $579,129 (9.0%) | 1.42 | 13,285 |
| 2018-02-01 | $385,000 (4.3%) | $581,841 (7.7%) | 1.39 | 13,656 |
| 2018-03-01 | $394,000 (5.8%) | $586,622 (7.5%) | 1.36 | 13,848 |
| 2018-04-01 | $399,000 (6.4%) | $585,700 (6.7%) | 1.34 | 14,262 |
| 2018-05-01 | $399,850 (5.2%) | $579,902 (4.4%) | 1.33 | 14,924 |
| 2018-06-01 | $399,900 (5.3%) | $569,243 (4.0%) | 1.33 | 15,747 |
| 2018-07-01 | $399,850 (5.3%) | $542,226 (1.4%) | 1.33 | 16,450 |
| 2018-08-01 | $399,250 (5.8%) | $532,107 (1.3%) | 1.33 | 16,790 |
| 2018-09-01 | $399,000 (5.3%) | $527,007 (-0.5%) | 1.33 | 17,235 |
| 2018-10-01 | $396,500 (4.5%) | $530,835 (-1.3%) | 1.33 | 17,664 |
| 2018-11-01 | $395,000 (4.0%) | $539,043 (-2.5%) | 1.32 | 17,882 |
| 2018-12-01 | $394,000 (2.4%) | $550,860 (-3.5%) | 1.35 | 17,052 |
| 2019-01-01 | $397,750 (3.4%) | $560,253 (-3.3%) | 1.37 | 16,113 |
| 2019-02-01 | $399,450 (3.8%) | $571,956 (-1.7%) | 1.34 | 15,977 |
| 2019-03-01 | $404,228 (2.6%) | $579,238 (-1.3%) | 1.32 | 15,536 |
| 2019-04-01 | $410,000 (2.8%) | $584,271 (-0.2%) | 1.29 | 15,290 |
| 2019-05-01 | $418,450 (4.7%) | $589,613 (1.7%) | 1.29 | 15,605 |
| 2019-06-01 | $419,900 (5.0%) | $573,831 (0.8%) | 1.29 | 15,545 |
| 2019-07-01 | $419,000 (4.8%) | $560,431 (3.4%) | 1.30 | 15,723 |
| 2019-08-01 | $416,000 (4.2%) | $552,193 (3.8%) | 1.31 | 15,449 |
| 2019-09-01 | $410,950 (3.0%) | $546,121 (3.6%) | 1.31 | 15,142 |
| 2019-10-01 | $410,000 (3.4%) | $547,522 (3.1%) | 1.31 | 15,084 |
| 2019-11-01 | $409,900 (3.8%) | $556,754 (3.3%) | 1.32 | 14,648 |
| 2019-12-01 | $408,445 (3.7%) | $565,873 (2.7%) | 1.36 | 13,190 |
| 2020-01-01 | $408,950 (2.8%) | $574,548 (2.6%) | 1.36 | 12,095 |
| 2020-02-01 | $419,900 (5.1%) | $602,330 (5.3%) | 1.36 | 11,574 |
| 2020-03-01 | $425,000 (5.1%) | $614,519 (6.1%) | 1.33 | 11,164 |
| 2020-04-01 | $420,500 (2.6%) | $587,139 (0.5%) | 1.31 | 11,610 |
| 2020-05-01 | $429,800 (2.7%) | $600,935 (1.9%) | 1.30 | 11,286 |
| 2020-06-01 | $446,950 (6.4%) | $632,624 (10.3%) | 1.31 | 9,395 |
| 2020-07-01 | $456,950 (9.1%) | $657,926 (17.4%) | 1.31 | 7,664 |
| 2020-08-01 | $459,999 (10.6%) | $660,233 (19.6%) | 1.31 | 6,852 |
| 2020-09-01 | $475,000 (15.6%) | $702,561 (28.7%) | 1.36 | 6,796 |
| 2020-10-01 | $480,990 (17.3%) | $712,893 (30.2%) | 1.37 | 6,890 |
| 2020-11-01 | $489,000 (19.3%) | $733,152 (31.7%) | 1.40 | 6,630 |
| 2020-12-01 | $491,495 (20.3%) | $746,372 (31.9%) | 1.44 | 5,630 |
| 2021-01-01 | $489,700 (19.8%) | $767,766 (33.6%) | 1.44 | 4,660 |
| 2021-02-01 | $495,000 (17.9%) | $776,294 (28.9%) | 1.42 | 3,950 |
| 2021-03-01 | $499,950 (17.6%) | $765,972 (24.7%) | 1.40 | 3,834 |
| 2021-04-01 | $500,000 (18.9%) | $746,626 (27.2%) | 1.34 | 4,091 |
| 2021-05-01 | $524,735 (22.1%) | $731,828 (21.8%) | 1.38 | 4,525 |
| 2021-06-01 | $529,450 (18.5%) | $731,295 (15.6%) | 1.38 | 4,925 |
| 2021-07-01 | $540,000 (18.2%) | $731,625 (11.2%) | 1.40 | 6,040 |
| 2021-08-01 | $542,950 (18.0%) | $700,913 (6.2%) | 1.43 | 6,270 |
| 2021-09-01 | $545,000 (14.7%) | $685,523 (-2.4%) | 1.43 | 6,504 |
| 2021-10-01 | $549,500 (14.2%) | $692,610 (-2.9%) | 1.45 | 6,431 |
| 2021-11-01 | $549,450 (12.4%) | $706,372 (-3.7%) | 1.45 | 5,846 |
| 2021-12-01 | $549,250 (11.8%) | $742,870 (-0.5%) | 1.46 | 4,894 |
| 2022-01-01 | $544,000 (11.1%) | $746,873 (-2.7%) | 1.45 | 4,110 |
| 2022-02-01 | $549,900 (11.1%) | $757,676 (-2.4%) | 1.40 | 4,197 |
| 2022-03-01 | $573,000 (14.6%) | $783,862 (2.3%) | 1.42 | 4,518 |
| 2022-04-01 | $595,000 (19.0%) | $792,787 (6.2%) | 1.40 | 5,127 |
Riverside's median listing price comes in at 140% of the national average.
Riverside's average listing price for 2022-04-01 was $792,787, a difference of $46,161 (6.2%) versus the prior year and $8,925 versus the prior month.
For the 2022-04-01 period, Riverside had 5,127 MLS listings, a difference of 609 listings (13%) versus the prior month and 1,036 listings (25%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Riverside (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 58 days | 1,997 sqft |
| 2018-02-01 | 44 days | 1,997 sqft |
| 2018-03-01 | 43 days | 2,015 sqft |
| 2018-04-01 | 43 days | 2,040 sqft |
| 2018-05-01 | 41 days | 2,043 sqft |
| 2018-06-01 | 43 days | 2,036 sqft |
| 2018-07-01 | 44 days | 2,017 sqft |
| 2018-08-01 | 47 days | 2,000 sqft |
| 2018-09-01 | 48 days | 1,984 sqft |
| 2018-10-01 | 49 days | 1,964 sqft |
| 2018-11-01 | 50 days | 1,951 sqft |
| 2018-12-01 | 59 days | 1,927 sqft |
| 2019-01-01 | 65 days | 1,937 sqft |
| 2019-02-01 | 58 days | 1,945 sqft |
| 2019-03-01 | 57 days | 1,961 sqft |
| 2019-04-01 | 53 days | 1,976 sqft |
| 2019-05-01 | 50 days | 1,994 sqft |
| 2019-06-01 | 51 days | 1,995 sqft |
| 2019-07-01 | 54 days | 1,996 sqft |
| 2019-08-01 | 56 days | 1,981 sqft |
| 2019-09-01 | 56 days | 1,968 sqft |
| 2019-10-01 | 52 days | 1,959 sqft |
| 2019-11-01 | 57 days | 1,951 sqft |
| 2019-12-01 | 65 days | 1,952 sqft |
| 2020-01-01 | 70 days | 1,960 sqft |
| 2020-02-01 | 58 days | 1,987 sqft |
| 2020-03-01 | 49 days | 1,994 sqft |
| 2020-04-01 | 54 days | 1,940 sqft |
| 2020-05-01 | 66 days | 1,973 sqft |
| 2020-06-01 | 58 days | 1,996 sqft |
| 2020-07-01 | 51 days | 2,022 sqft |
| 2020-08-01 | 43 days | 2,000 sqft |
| 2020-09-01 | 35 days | 2,002 sqft |
| 2020-10-01 | 35 days | 2,014 sqft |
| 2020-11-01 | 39 days | 2,012 sqft |
| 2020-12-01 | 46 days | 2,003 sqft |
| 2021-01-01 | 47 days | 1,976 sqft |
| 2021-02-01 | 34 days | 1,930 sqft |
| 2021-03-01 | 25 days | 1,940 sqft |
| 2021-04-01 | 28 days | 1,903 sqft |
| 2021-05-01 | 30 days | 1,888 sqft |
| 2021-06-01 | 30 days | 1,875 sqft |
| 2021-07-01 | 27 days | 1,872 sqft |
| 2021-08-01 | 31 days | 1,871 sqft |
| 2021-09-01 | 35 days | 1,877 sqft |
| 2021-10-01 | 35 days | 1,888 sqft |
| 2021-11-01 | 38 days | 1,901 sqft |
| 2021-12-01 | 43 days | 1,896 sqft |
| 2022-01-01 | 44 days | 1,868 sqft |
| 2022-02-01 | 31 days | 1,852 sqft |
| 2022-03-01 | 24 days | 1,860 sqft |
| 2022-04-01 | 28 days | 1,892 sqft |
Riverside's median square footage for active listings during the 2022-04-01 period was 1,892 sqft. One year prior, the average listing was 1,903 sqft.
