Riverside FHA Loan Rates, Closing Costs & Stats

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA

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    • 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 6.34% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.31% and one month ago for the week of 2024-10-04, the average rate was 5.73%.

    The average rate one year ago was 7.18%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.58%.

    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).