Riverside USDA Loans

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 46 lenders originated 220 USDA loans during 2021. The total origination value was $63,520,000, with an average USDA loan value of $288,727.

Riverside USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Riverside averaged 6.19% for the week of 2022-09-23, compared to the national average (all USDA variants) of 6.08% for the same period.

The average rate for the prior week (2022-09-16) was 5.72% and one month ago for the week of 2022-08-19, the average rate was 5.41%.

The average rate one year ago was 2.84%.

For refis of the same type during the week of 2022-09-23, the average rate was 5.83%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FIRST NATIONS HOME FINANCE CORPORATION 65 2.73% $6,558
CROSSCOUNTRY MORTGAGE, LLC 13 2.81% $7,393
HOME POINT FINANCIAL CORPORATION 7 2.50% $7,920
MOVEMENT MORTGAGE, LLC 6 3.10% $6,699
Flagstar Bank, FSB 6 2.63% $8,197
CHOICE LENDING CORP. 5 2.93% $10,015
MOUNTAIN WEST FINANCIAL, INC. 4 2.78% $10,457
UNITED WHOLESALE MORTGAGE, LLC 4 2.55% $7,685
BROKER SOLUTIONS, INC. 4 2.84% $6,442
Paramount Residential Mortgage Group, Inc. 4 3.13% $7,673
SECURITYNATIONAL MORTGAGE COMPANY 4 2.94% $6,651
Waterstone Mortgage Corporation 4 2.78% $6,976
Commerce Home Mortgage, Inc. 4 2.78% $7,661
CALIBER HOME LOANS, INC. 4 2.81% $5,487
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.00% $6,085
AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.63% $7,823
PENNYMAC LOAN SERVICES, LLC 3 2.87% $4,859
PLAZA HOME MORTGAGE, INC. 3 3.00% $12,830
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.17% $6,443
AMERICAN FINANCIAL NETWORK, INC. 3 3.21% $11,912
CANOPY MORTGAGE, LLC 2 2.31% $6,888
LOANDEPOT.COM, LLC 2 2.63% $11,028
Carrington Mortgage Services, LLC 2 2.81% $7,573
GUARANTEED RATE, INC. 2 2.88% $9,229
ACADEMY MORTGAGE CORPORATION 2 3.13% $6,444
DRAPER AND KRAMER MORTGAGE CORP. 2 2.50% $7,401
Hometown Equity Mortgage, LLC 1 2.50% $7,138
AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $12,155
Bank of England 1 2.38% $9,648
Barrington Bank & Trust Company, N.A. 1 3.75% $7,964
CELEBRITY HOME LOANS, LLC 1 2.88% $4,240
CMG MORTGAGE, INC. 1 2.75% $6,772
CORNERSTONE HOME LENDING, INC. 1 3.25% $7,068
DATA MORTGAGE, INC. 1 2.75% $8,487
DIRECT MORTGAGE, CORP. 1 3.00% $5,723
GENEVA FINANCIAL, LLC 1 2.75% $6,650
Golden Empire Mortgage, Inc. 1 3.75% $5,764
GoPrime Mortgage, Inc. 1 2.50% $8,809
LAKEVIEW LOAN SERVICING, LLC 1 2.75% $4,191
Mortgage Research Center, LLC 1 2.99% $3,087
NATIONS DIRECT MORTGAGE, LLC 1 2.50% $6,676
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.00% $12,042
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.75% $6,514
RANLIFE, INC. 1 2.63% $8,022
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 2.88% $6,400
STEARNS LENDING, LLC 1 2.75% $6,660

The top Riverside USDA lender as defined by loan originations is FIRST NATIONS HOME FINANCE CORPORATION, with 65 USDA loans originated. Their average total fees are $6,558, which is $835 lower 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 ($6,558), CROSSCOUNTRY MORTGAGE, LLC ($7,393), .

The lowest rate Riverside USDA lenders (with over 10 loans originated) are FIRST NATIONS HOME FINANCE CORPORATION (2.73%), CROSSCOUNTRY MORTGAGE, LLC (2.81%), .


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
2022-05-01 $599,450 (14.2%) $790,942 (8.1%) 1.34 6,860
2022-06-01 $599,000 (13.1%) $769,380 (5.2%) 1.33 8,456
2022-07-01 $598,016 (10.7%) $736,486 (0.7%) 1.33 10,660
2022-08-01 $587,320 (8.2%) $715,633 (2.1%) 1.35 11,008
Riverside's median listing price for 2022-08-01 was $587,320, a difference of $44,370 (8.2%) versus the prior year and $-10,696 versus the prior month.

Riverside's median listing price comes in at 135% of the national average.

Riverside's average listing price for 2022-08-01 was $715,633, a difference of $14,720 (2.1%) versus the prior year and $-20,853 versus the prior month.

For the 2022-08-01 period, Riverside had 11,008 MLS listings, a difference of 348 listings (3%) versus the prior month and 4,738 listings (76%) 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
2022-05-01 27 days 1,901 sqft
2022-06-01 30 days 1,899 sqft
2022-07-01 34 days 1,872 sqft
2022-08-01 42 days 1,864 sqft
Riverside's median listing age (time on market) for 2022-08-01 was 42 days. This is 35% longer than the same period one year ago.

Riverside's median square footage for active listings during the 2022-08-01 period was 1,864 sqft. One year prior, the average listing was 1,871 sqft.