Riverside USDA Loans

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 5.12% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.21% and one month ago for the week of 2022-04-15, the average rate was 4.81%.

    The average rate one year ago was 3.25%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.27%.

    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
    Riverside's median listing price for 2022-04-01 was $595,000, a difference of $95,000 (19.0%) versus the prior year and $22,000 versus the prior month.

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

    Riverside's average listing price for 2022-04-01 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 listing age (time on market) for 2022-04-01 was 28 days. This is 0% longer than the same period one year ago.

    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.