Riverside USDA Loan Rates, Closing Costs & Stats

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA

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    • 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 0.11% for the week of 2023-01-20, compared to the national average (all USDA variants) of 0% for the same period.

    Riverside's average USDA mortgage closing costs are $6,343.

    The average rate for the prior week (2023-01-13) was 6.45% and one month ago for the week of 2022-12-16, the average rate was 6.33%.

    The average rate one year ago was 3.64%.

    For refis of the same type during the week of 2023-01-20, the average rate was -0.15%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    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 $389,900 (5.6%) $589,998 (10.2%) 1.45 12,238
    2018-02-01 $390,000 (5.4%) $593,100 (8.9%) 1.42 12,613
    2018-03-01 $399,000 (6.4%) $599,624 (8.6%) 1.40 12,746
    2018-04-01 $404,950 (6.9%) $597,649 (7.7%) 1.37 13,079
    2018-05-01 $406,161 (5.3%) $591,118 (5.1%) 1.36 13,715
    2018-06-01 $409,900 (6.5%) $579,383 (4.6%) 1.37 14,455
    2018-07-01 $408,450 (6.1%) $550,119 (1.8%) 1.36 15,065
    2018-08-01 $404,335 (6.4%) $540,583 (1.4%) 1.35 15,338
    2018-09-01 $399,999 (3.9%) $531,192 (-1.2%) 1.34 15,775
    2018-10-01 $399,900 (3.9%) $538,635 (-1.2%) 1.35 16,282
    2018-11-01 $399,000 (2.5%) $546,674 (-2.8%) 1.35 16,617
    2018-12-01 $399,000 (2.3%) $555,033 (-4.3%) 1.38 15,909
    2019-01-01 $399,000 (2.3%) $563,993 (-4.4%) 1.38 15,173
    2019-02-01 $399,950 (2.6%) $573,440 (-3.3%) 1.35 15,144
    2019-03-01 $406,514 (1.9%) $577,918 (-3.6%) 1.33 14,864
    2019-04-01 $410,000 (1.3%) $580,737 (-2.8%) 1.30 14,707
    2019-05-01 $418,250 (3.0%) $580,150 (-1.9%) 1.31 14,932
    2019-06-01 $419,900 (2.4%) $571,094 (-1.4%) 1.31 14,819
    2019-07-01 $419,000 (2.6%) $554,964 (0.9%) 1.31 14,840
    2019-08-01 $416,545 (3.0%) $547,929 (1.4%) 1.32 14,717
    2019-09-01 $412,864 (3.2%) $542,934 (2.2%) 1.32 14,499
    2019-10-01 $410,000 (2.5%) $540,857 (0.4%) 1.32 14,275
    2019-11-01 $409,500 (2.6%) $549,709 (0.6%) 1.34 13,980
    2019-12-01 $405,000 (1.5%) $556,762 (0.3%) 1.35 12,512
    2020-01-01 $407,000 (2.0%) $568,425 (0.8%) 1.36 11,593
    2020-02-01 $419,000 (4.8%) $589,194 (2.8%) 1.37 11,107
    2020-03-01 $424,950 (4.5%) $598,373 (3.5%) 1.33 10,628
    2020-04-01 $419,997 (2.4%) $576,691 (-0.7%) 1.31 11,096
    2020-05-01 $428,000 (2.3%) $587,991 (1.4%) 1.30 10,800
    2020-06-01 $439,450 (4.7%) $611,880 (7.1%) 1.29 9,019
    2020-07-01 $449,950 (7.4%) $632,710 (14.0%) 1.30 7,420
    2020-08-01 $459,999 (10.4%) $649,377 (18.5%) 1.32 6,726
    2020-09-01 $468,500 (13.5%) $668,866 (23.2%) 1.34 6,704
    2020-10-01 $469,990 (14.6%) $727,098 (34.4%) 1.35 6,780
    2020-11-01 $475,000 (16.0%) $689,485 (25.4%) 1.39 6,403
    2020-12-01 $478,942 (18.3%) $704,138 (26.5%) 1.42 5,531
    2021-01-01 $475,000 (16.7%) $722,268 (27.1%) 1.42 4,637
    2021-02-01 $482,400 (15.1%) $725,371 (23.1%) 1.40 3,935
    2021-03-01 $491,875 (15.8%) $716,326 (19.7%) 1.40 3,830
    2021-04-01 $499,900 (19.0%) $718,463 (24.6%) 1.35 4,059
    2021-05-01 $520,000 (21.5%) $727,145 (23.7%) 1.38 4,437
    2021-06-01 $526,000 (19.7%) $726,365 (18.7%) 1.38 4,817
    2021-07-01 $539,000 (19.8%) $702,684 (11.1%) 1.42 5,719
    2021-08-01 $539,874 (17.4%) $693,879 (6.9%) 1.44 6,138
    2021-09-01 $542,000 (15.7%) $680,076 (1.7%) 1.45 6,398
    2021-10-01 $549,000 (16.8%) $685,191 (-5.8%) 1.46 6,311
    2021-11-01 $549,450 (15.7%) $701,876 (1.8%) 1.47 5,782
    2021-12-01 $549,250 (14.7%) $737,624 (4.8%) 1.49 4,856
    2022-01-01 $545,000 (14.7%) $742,081 (2.7%) 1.47 4,101
    2022-02-01 $549,998 (14.0%) $759,859 (4.8%) 1.43 4,173
    2022-03-01 $573,049 (16.5%) $777,435 (8.5%) 1.43 4,432
    2022-04-01 $592,000 (18.4%) $785,577 (9.3%) 1.41 5,063
    2022-05-01 $599,000 (15.2%) $782,657 (7.6%) 1.37 6,883
    2022-06-01 $599,000 (13.9%) $765,942 (5.5%) 1.33 8,457
    2022-07-01 $595,000 (10.4%) $732,175 (4.2%) 1.35 10,577
    2022-08-01 $585,000 (8.4%) $712,270 (2.7%) 1.35 10,947
    2022-09-01 $579,400 (6.9%) $703,279 (3.4%) 1.36 11,068
    2022-10-01 $575,000 (4.7%) $707,352 (3.2%) 1.35 11,334
    2022-11-01 $569,000 (3.6%) $726,252 (3.5%) 1.37 11,258
    2022-12-01 $558,000 (1.6%) $721,013 (-2.3%) 1.40 10,408
    Riverside's median listing price for 2022-12-01 was $558,000, a difference of $8,750 (1.6%) versus the prior year and $-11,000 versus the prior month.

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

    Riverside's average listing price for 2022-12-01 was $721,013, a difference of $-16,611 (-2.3%) versus the prior year and $-5,239 versus the prior month.

    For the 2022-12-01 period, Riverside had 10,408 MLS listings, a difference of -850 listings (-8%) versus the prior month and 5,552 listings (114%) 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 59 days 1,990 sqft
    2018-02-01 45 days 1,989 sqft
    2018-03-01 44 days 2,013 sqft
    2018-04-01 44 days 2,038 sqft
    2018-05-01 42 days 2,040 sqft
    2018-06-01 43 days 2,027 sqft
    2018-07-01 44 days 2,010 sqft
    2018-08-01 47 days 1,996 sqft
    2018-09-01 48 days 1,976 sqft
    2018-10-01 49 days 1,956 sqft
    2018-11-01 50 days 1,945 sqft
    2018-12-01 58 days 1,922 sqft
    2019-01-01 65 days 1,931 sqft
    2019-02-01 57 days 1,941 sqft
    2019-03-01 52 days 1,956 sqft
    2019-04-01 53 days 1,971 sqft
    2019-05-01 52 days 1,989 sqft
    2019-06-01 53 days 1,995 sqft
    2019-07-01 55 days 1,995 sqft
    2019-08-01 56 days 1,982 sqft
    2019-09-01 57 days 1,964 sqft
    2019-10-01 57 days 1,952 sqft
    2019-11-01 59 days 1,950 sqft
    2019-12-01 69 days 1,943 sqft
    2020-01-01 72 days 1,952 sqft
    2020-02-01 67 days 1,967 sqft
    2020-03-01 57 days 1,973 sqft
    2020-04-01 61 days 1,929 sqft
    2020-05-01 72 days 1,950 sqft
    2020-06-01 74 days 1,969 sqft
    2020-07-01 64 days 1,996 sqft
    2020-08-01 52 days 1,996 sqft
    2020-09-01 47 days 1,980 sqft
    2020-10-01 47 days 1,973 sqft
    2020-11-01 51 days 1,964 sqft
    2020-12-01 60 days 1,956 sqft
    2021-01-01 61 days 1,917 sqft
    2021-02-01 46 days 1,889 sqft
    2021-03-01 38 days 1,906 sqft
    2021-04-01 35 days 1,884 sqft
    2021-05-01 31 days 1,883 sqft
    2021-06-01 33 days 1,864 sqft
    2021-07-01 32 days 1,867 sqft
    2021-08-01 33 days 1,872 sqft
    2021-09-01 37 days 1,873 sqft
    2021-10-01 37 days 1,889 sqft
    2021-11-01 41 days 1,899 sqft
    2021-12-01 46 days 1,893 sqft
    2022-01-01 45 days 1,868 sqft
    2022-02-01 32 days 1,853 sqft
    2022-03-01 30 days 1,855 sqft
    2022-04-01 29 days 1,881 sqft
    2022-05-01 29 days 1,894 sqft
    2022-06-01 33 days 1,897 sqft
    2022-07-01 36 days 1,872 sqft
    2022-08-01 45 days 1,863 sqft
    2022-09-01 51 days 1,860 sqft
    2022-10-01 54 days 1,856 sqft
    2022-11-01 58 days 1,850 sqft
    2022-12-01 69 days 1,844 sqft
    Riverside's median listing age (time on market) for 2022-12-01 was 69 days. This is 52% longer than the same period one year ago.

    Riverside's median square footage for active listings during the 2022-12-01 period was 1,844 sqft. One year prior, the average listing was 1,893 sqft.