Riverside USDA Loan Rates, Closing Costs & Stats

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Riverside's 18 lenders originated 55 USDA loans during 2023. The total origination value was $15,115,000, with an average USDA loan value of $274,818.

Riverside USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Riverside averaged 6.33% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

Riverside's average USDA mortgage closing costs are $6,709.

The average rate for the prior week (2024-05-17) was 6.51% and one month ago for the week of 2024-04-19, the average rate was 6.55%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.67%.

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

Riverside USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 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
FIRST NATIONS HOME FINANCE CORPORATION 24 6.22% $9,363
CROSSCOUNTRY MORTGAGE, LLC 4 6.44% $9,198
Paramount Residential Mortgage Group, Inc. 4 6.50% $10,614
UNITED WHOLESALE MORTGAGE, LLC 4 5.53% $13,700
LOANDEPOT.COM, LLC 2 6.25% $9,858
SUN WEST MORTGAGE COMPANY, INC. 2 5.69% $15,269
Franklin Loan Corporation 1 6.63% $15,657
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.38% $13,868
GUARANTEED RATE, INC. 1 5.38% $8,431
MOUNTAIN WEST FINANCIAL, INC. 1 5.75% $6,002
OCMBC, INC. 1 5.00% $25,821
PLAZA HOME MORTGAGE, INC. 1 6.25% $7,207
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.38% $11,197
AXIA FINANCIAL, LLC 1 6.25% $9,914
BANC ONE MORTGAGE CORPORATION 1 10.50% $11,990
Century Mortgage Company DBA Century Lending Company 1 5.99% $11,521
DIGNIFIED HOME LOANS, LLC 1 6.00% $12,459
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $8,554

The top Riverside USDA lender as defined by loan originations is FIRST NATIONS HOME FINANCE CORPORATION, with 24 USDA loans originated. Their average total fees are $9,363, which is $165 higher than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Riverside USDA lenders (with over 10 loans originated) are FIRST NATIONS HOME FINANCE CORPORATION ($9,363), .

The lowest rate Riverside USDA lenders (with over 10 loans originated) are FIRST NATIONS HOME FINANCE CORPORATION (6.22%), .


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 $389,900 (5.6%) $590,201 (10.2%) 1.45 12,231
2018-02-01 $390,000 (5.4%) $593,269 (8.9%) 1.42 12,607
2018-03-01 $399,000 (6.4%) $599,774 (8.6%) 1.40 12,739
2018-04-01 $404,950 (6.9%) $597,714 (7.8%) 1.37 13,074
2018-05-01 $406,389 (5.4%) $591,178 (5.1%) 1.36 13,709
2018-06-01 $409,900 (6.5%) $579,453 (4.6%) 1.37 14,448
2018-07-01 $408,500 (6.1%) $550,185 (1.8%) 1.36 15,059
2018-08-01 $404,563 (6.5%) $540,644 (1.4%) 1.36 15,332
2018-09-01 $400,000 (3.9%) $531,241 (-1.2%) 1.34 15,768
2018-10-01 $399,900 (3.9%) $538,687 (-1.3%) 1.35 16,273
2018-11-01 $399,000 (2.5%) $546,755 (-2.8%) 1.35 16,609
2018-12-01 $399,000 (2.3%) $555,097 (-4.3%) 1.38 15,901
2019-01-01 $399,000 (2.3%) $564,081 (-4.4%) 1.38 15,165
2019-02-01 $399,950 (2.6%) $573,546 (-3.3%) 1.35 15,138
2019-03-01 $407,100 (2.0%) $578,021 (-3.6%) 1.33 14,858
2019-04-01 $410,450 (1.4%) $580,854 (-2.8%) 1.30 14,697
2019-05-01 $418,525 (3.0%) $580,245 (-1.9%) 1.31 14,914
2019-06-01 $419,900 (2.4%) $571,202 (-1.4%) 1.31 14,797
2019-07-01 $419,000 (2.6%) $555,075 (0.9%) 1.31 14,816
2019-08-01 $416,545 (3.0%) $548,037 (1.4%) 1.32 14,692
2019-09-01 $412,864 (3.2%) $543,046 (2.2%) 1.32 14,473
2019-10-01 $410,000 (2.5%) $540,981 (0.4%) 1.32 14,246
2019-11-01 $409,500 (2.6%) $549,832 (0.6%) 1.34 13,953
2019-12-01 $405,000 (1.5%) $556,913 (0.3%) 1.35 12,483
2020-01-01 $407,000 (2.0%) $568,546 (0.8%) 1.36 11,563
2020-02-01 $419,000 (4.8%) $589,374 (2.8%) 1.37 11,075
2020-03-01 $424,950 (4.4%) $598,575 (3.6%) 1.33 10,596
2020-04-01 $419,975 (2.3%) $576,829 (-0.7%) 1.32 11,064
2020-05-01 $427,945 (2.3%) $588,151 (1.4%) 1.30 10,768
2020-06-01 $439,450 (4.7%) $612,136 (7.2%) 1.29 8,987
2020-07-01 $449,950 (7.4%) $636,810 (14.7%) 1.30 7,390
2020-08-01 $459,999 (10.4%) $653,800 (19.3%) 1.32 6,698
2020-09-01 $468,995 (13.6%) $673,349 (24.0%) 1.34 6,676
2020-10-01 $469,999 (14.6%) $731,634 (35.2%) 1.35 6,752
2020-11-01 $475,000 (16.0%) $693,466 (26.1%) 1.39 6,376
2020-12-01 $478,944 (18.3%) $708,446 (27.2%) 1.42 5,505
2021-01-01 $475,000 (16.7%) $727,615 (28.0%) 1.42 4,611
2021-02-01 $482,400 (15.1%) $730,984 (24.0%) 1.40 3,907
2021-03-01 $492,548 (15.9%) $721,894 (20.6%) 1.40 3,802
2021-04-01 $499,900 (19.0%) $723,756 (25.5%) 1.35 4,034
2021-05-01 $520,000 (21.5%) $732,220 (24.5%) 1.38 4,412
2021-06-01 $526,972 (19.9%) $729,499 (19.2%) 1.39 4,793
2021-07-01 $539,000 (19.8%) $706,704 (11.0%) 1.42 5,699
2021-08-01 $539,900 (17.4%) $697,595 (6.7%) 1.44 6,120
2021-09-01 $542,700 (15.7%) $682,003 (1.3%) 1.45 6,376
2021-10-01 $549,000 (16.8%) $685,667 (-6.3%) 1.46 6,286
2021-11-01 $549,700 (15.7%) $702,543 (1.3%) 1.47 5,754
2021-12-01 $549,450 (14.7%) $738,639 (4.3%) 1.49 4,828
2022-01-01 $545,000 (14.7%) $742,653 (2.1%) 1.47 4,073
2022-02-01 $550,000 (14.0%) $761,166 (4.1%) 1.43 4,145
2022-03-01 $573,500 (16.4%) $777,977 (7.8%) 1.44 4,390
2022-04-01 $594,000 (18.8%) $787,396 (8.8%) 1.42 5,014
2022-05-01 $599,000 (15.2%) $784,521 (7.1%) 1.37 6,826
2022-06-01 $599,000 (13.7%) $767,418 (5.2%) 1.33 8,396
2022-07-01 $596,000 (10.6%) $732,951 (3.7%) 1.34 10,516
2022-08-01 $586,166 (8.6%) $713,214 (2.2%) 1.36 10,886
2022-09-01 $579,900 (6.9%) $704,231 (3.3%) 1.36 11,006
2022-10-01 $575,000 (4.7%) $708,141 (3.3%) 1.35 11,269
2022-11-01 $569,000 (3.5%) $727,251 (3.5%) 1.37 11,193
2022-12-01 $564,900 (2.8%) $729,514 (-1.2%) 1.39 10,046
2023-01-01 $560,000 (2.8%) $742,957 (0.0%) 1.39 8,839
2023-02-01 $559,900 (1.8%) $758,760 (-0.3%) 1.35 8,071
2023-03-01 $559,495 (-2.4%) $767,446 (-1.4%) 1.32 7,511
2023-04-01 $569,000 (-4.2%) $797,970 (1.3%) 1.32 6,787
2023-05-01 $580,000 (-3.2%) $813,166 (3.7%) 1.32 6,740
2023-06-01 $580,000 (-3.2%) $801,327 (4.4%) 1.30 6,878
2023-07-01 $585,000 (-1.9%) $788,260 (7.6%) 1.33 7,306
2023-08-01 $575,500 (-1.8%) $768,714 (7.8%) 1.32 7,614
2023-09-01 $579,000 (-0.2%) $765,590 (8.7%) 1.35 7,856
2023-10-01 $580,000 (0.9%) $775,553 (9.5%) 1.36 8,430
2023-11-01 $584,850 (2.8%) $789,870 (8.6%) 1.39 8,771
2023-12-01 $579,000 (2.5%) $797,720 (9.4%) 1.41 8,338
2024-01-01 $585,000 (4.5%) $818,095 (10.1%) 1.43 7,798
2024-02-01 $595,000 (6.3%) $838,666 (10.5%) 1.43 7,785
2024-03-01 $599,000 (7.1%) $844,558 (10.1%) 1.41 8,073
2024-04-01 $599,950 (5.4%) $851,500 (6.7%) 1.40 8,540
Riverside's median listing price for 2024-04-01 was $599,950, a difference of $30,950 (5.4%) versus the prior year and $950 versus the prior month.

Riverside's median listing price comes in at 140% of the national average.

Riverside's average listing price for 2024-04-01 was $851,500, a difference of $53,530 (6.7%) versus the prior year and $6,942 versus the prior month.

For the 2024-04-01 period, Riverside had 8,540 MLS listings, a difference of 467 listings (6%) versus the prior month and 1,753 listings (26%) 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 56 days 1,990 sqft
2018-02-01 43 days 1,989 sqft
2018-03-01 43 days 2,014 sqft
2018-04-01 43 days 2,038 sqft
2018-05-01 40 days 2,040 sqft
2018-06-01 41 days 2,027 sqft
2018-07-01 43 days 2,010 sqft
2018-08-01 45 days 1,996 sqft
2018-09-01 46 days 1,976 sqft
2018-10-01 46 days 1,956 sqft
2018-11-01 48 days 1,945 sqft
2018-12-01 58 days 1,922 sqft
2019-01-01 64 days 1,932 sqft
2019-02-01 54 days 1,941 sqft
2019-03-01 50 days 1,957 sqft
2019-04-01 51 days 1,971 sqft
2019-05-01 50 days 1,988 sqft
2019-06-01 52 days 1,995 sqft
2019-07-01 53 days 1,995 sqft
2019-08-01 53 days 1,982 sqft
2019-09-01 54 days 1,965 sqft
2019-10-01 55 days 1,953 sqft
2019-11-01 57 days 1,950 sqft
2019-12-01 66 days 1,943 sqft
2020-01-01 70 days 1,952 sqft
2020-02-01 62 days 1,967 sqft
2020-03-01 52 days 1,973 sqft
2020-04-01 58 days 1,929 sqft
2020-05-01 69 days 1,949 sqft
2020-06-01 67 days 1,968 sqft
2020-07-01 57 days 1,996 sqft
2020-08-01 47 days 1,997 sqft
2020-09-01 44 days 1,980 sqft
2020-10-01 44 days 1,974 sqft
2020-11-01 48 days 1,964 sqft
2020-12-01 57 days 1,956 sqft
2021-01-01 57 days 1,917 sqft
2021-02-01 43 days 1,889 sqft
2021-03-01 35 days 1,906 sqft
2021-04-01 33 days 1,883 sqft
2021-05-01 30 days 1,883 sqft
2021-06-01 31 days 1,864 sqft
2021-07-01 31 days 1,867 sqft
2021-08-01 33 days 1,872 sqft
2021-09-01 36 days 1,872 sqft
2021-10-01 36 days 1,888 sqft
2021-11-01 40 days 1,899 sqft
2021-12-01 45 days 1,893 sqft
2022-01-01 44 days 1,867 sqft
2022-02-01 31 days 1,853 sqft
2022-03-01 30 days 1,854 sqft
2022-04-01 28 days 1,880 sqft
2022-05-01 28 days 1,894 sqft
2022-06-01 32 days 1,897 sqft
2022-07-01 36 days 1,872 sqft
2022-08-01 44 days 1,864 sqft
2022-09-01 50 days 1,860 sqft
2022-10-01 53 days 1,857 sqft
2022-11-01 57 days 1,849 sqft
2022-12-01 66 days 1,844 sqft
2023-01-01 73 days 1,850 sqft
2023-02-01 65 days 1,842 sqft
2023-03-01 54 days 1,823 sqft
2023-04-01 51 days 1,832 sqft
2023-05-01 46 days 1,843 sqft
2023-06-01 44 days 1,834 sqft
2023-07-01 45 days 1,836 sqft
2023-08-01 47 days 1,812 sqft
2023-09-01 49 days 1,800 sqft
2023-10-01 49 days 1,815 sqft
2023-11-01 51 days 1,829 sqft
2023-12-01 59 days 1,814 sqft
2024-01-01 64 days 1,809 sqft
2024-02-01 51 days 1,822 sqft
2024-03-01 47 days 1,825 sqft
2024-04-01 45 days 1,826 sqft
Riverside's median listing age (time on market) for 2024-04-01 was 45 days. This is -12% shorter than the same period one year ago.

Riverside's median square footage for active listings during the 2024-04-01 period was 1,826 sqft. One year prior, the average listing was 1,832 sqft.