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 27 lenders originated 75 USDA loans during 2022. The total origination value was $21,285,000, with an average USDA loan value of $283,800.

Riverside USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Riverside averaged 5.93% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

Riverside's average USDA mortgage closing costs are $6,520.

The average rate for the prior week (2023-05-19) was 5.77% and one month ago for the week of 2023-04-21, the average rate was 5.78%.

The average rate one year ago was 4.9%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.94%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FIRST NATIONS HOME FINANCE CORPORATION 23 4.45% $7,581
UNITED WHOLESALE MORTGAGE, LLC 7 5.12% $10,613
HOME POINT FINANCIAL CORPORATION 7 4.53% $9,860
CROSSCOUNTRY MORTGAGE, LLC 4 5.12% $7,971
AMERICAN PACIFIC MORTGAGE CORPORATION 3 4.71% $9,576
Paramount Residential Mortgage Group, Inc. 3 4.17% $9,242
MOUNTAIN WEST FINANCIAL, INC. 3 4.88% $9,693
CALIBER HOME LOANS, INC. 2 4.63% $12,771
CARDINAL FINANCIAL 2 4.63% $7,168
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.88% $8,601
NATIONS RELIABLE LENDING, LLC 1 3.13% $14,299
OCMBC, INC. 1 6.63% $10,433
PENNYMAC LOAN SERVICES, LLC 1 3.06% $5,693
Platinum Home Mortgage Corporation 1 6.75% $7,257
PLAZA HOME MORTGAGE, INC. 1 5.99% $11,183
Sierra Pacific Mortgage Company, Inc. 1 4.38% $11,550
Summit Mortgage Corporation 1 2.75% $7,514
Waterstone Mortgage Corporation 1 4.38% $6,640
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 4.13% $6,147
FBC MORTGAGE, LLC 1 5.00% $13,123
FINANCE OF AMERICA MORTGAGE LLC 1 5.25% $9,817
Flagstar Bank, FSB 1 5.25% $22,267
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $0
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.50% $8,973
Hometown Equity Mortgage, LLC 1 5.50% $7,570
LOANDEPOT.COM, LLC 1 5.50% $11,500
MOVEMENT MORTGAGE, LLC 1 5.25% $6,680

The top Riverside USDA lender as defined by loan originations is FIRST NATIONS HOME FINANCE CORPORATION, with 23 USDA loans originated. Their average total fees are $7,581, which is $3,032 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Riverside USDA lenders (with over 10 loans originated) are FIRST NATIONS HOME FINANCE CORPORATION ($7,581), .

The lowest rate Riverside USDA lenders (with over 10 loans originated) are FIRST NATIONS HOME FINANCE CORPORATION (4.45%), .


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%) $590,066 (10.2%) 1.45 12,234
2018-02-01 $390,000 (5.4%) $593,167 (8.9%) 1.42 12,609
2018-03-01 $399,000 (6.4%) $599,691 (8.6%) 1.40 12,742
2018-04-01 $404,950 (6.9%) $597,714 (7.8%) 1.37 13,075
2018-05-01 $406,419 (5.4%) $591,193 (5.1%) 1.36 13,710
2018-06-01 $409,900 (6.5%) $579,462 (4.6%) 1.37 14,449
2018-07-01 $408,500 (6.1%) $550,185 (1.8%) 1.36 15,059
2018-08-01 $404,500 (6.5%) $540,644 (1.4%) 1.36 15,332
2018-09-01 $400,000 (3.9%) $531,248 (-1.2%) 1.34 15,769
2018-10-01 $399,900 (3.9%) $538,693 (-1.2%) 1.35 16,276
2018-11-01 $399,000 (2.5%) $546,734 (-2.8%) 1.35 16,611
2018-12-01 $399,000 (2.3%) $555,099 (-4.3%) 1.38 15,903
2019-01-01 $399,000 (2.3%) $564,064 (-4.4%) 1.38 15,167
2019-02-01 $399,950 (2.6%) $573,515 (-3.3%) 1.35 15,138
2019-03-01 $409,990 (2.8%) $580,613 (-3.2%) 1.37 14,699
2019-04-01 $410,237 (1.3%) $580,823 (-2.8%) 1.30 14,624
2019-05-01 $418,573 (3.0%) $580,221 (-1.9%) 1.31 14,915
2019-06-01 $419,900 (2.4%) $571,177 (-1.4%) 1.31 14,798
2019-07-01 $419,000 (2.6%) $555,074 (0.9%) 1.31 14,817
2019-08-01 $419,900 (3.8%) $558,004 (3.2%) 1.32 14,629
2019-09-01 $417,000 (4.3%) $553,525 (4.2%) 1.32 13,052
2019-10-01 $410,000 (2.5%) $541,057 (0.4%) 1.32 14,248
2019-11-01 $409,500 (2.6%) $549,833 (0.6%) 1.34 13,954
2019-12-01 $405,000 (1.5%) $556,914 (0.3%) 1.35 12,484
2020-01-01 $407,000 (2.0%) $568,546 (0.8%) 1.36 11,564
2020-02-01 $419,000 (4.8%) $589,370 (2.8%) 1.37 11,078
2020-03-01 $424,950 (3.7%) $598,571 (3.1%) 1.33 10,599
2020-04-01 $419,995 (2.4%) $576,832 (-0.7%) 1.32 11,068
2020-05-01 $428,000 (2.3%) $588,160 (1.4%) 1.30 10,772
2020-06-01 $439,450 (4.7%) $612,142 (7.2%) 1.29 8,990
2020-07-01 $449,950 (7.4%) $633,106 (14.1%) 1.30 7,391
2020-08-01 $459,995 (9.6%) $649,855 (16.5%) 1.32 6,697
2020-09-01 $468,944 (12.5%) $669,366 (20.9%) 1.34 6,676
2020-10-01 $469,999 (14.6%) $727,782 (34.5%) 1.35 6,752
2020-11-01 $475,000 (16.0%) $690,053 (25.5%) 1.39 6,375
2020-12-01 $478,944 (18.3%) $704,804 (26.6%) 1.42 5,504
2021-01-01 $475,000 (16.7%) $723,213 (27.2%) 1.42 4,610
2021-02-01 $482,424 (15.1%) $726,377 (23.3%) 1.40 3,908
2021-03-01 $492,620 (15.9%) $717,296 (19.8%) 1.40 3,803
2021-04-01 $499,900 (19.0%) $719,400 (24.7%) 1.35 4,032
2021-05-01 $520,000 (21.5%) $728,180 (23.8%) 1.38 4,411
2021-06-01 $526,922 (19.9%) $725,541 (18.5%) 1.39 4,791
2021-07-01 $539,000 (19.8%) $703,276 (11.1%) 1.42 5,698
2021-08-01 $539,900 (17.4%) $694,395 (6.9%) 1.44 6,119
2021-09-01 $542,700 (15.7%) $680,579 (1.7%) 1.45 6,375
2021-10-01 $549,000 (16.8%) $685,714 (-5.8%) 1.46 6,286
2021-11-01 $549,700 (15.7%) $702,562 (1.8%) 1.47 5,754
2021-12-01 $549,450 (14.7%) $738,651 (4.8%) 1.49 4,828
2022-01-01 $545,000 (14.7%) $742,706 (2.7%) 1.47 4,073
2022-02-01 $550,000 (14.0%) $761,166 (4.8%) 1.43 4,145
2022-03-01 $573,500 (16.4%) $777,977 (8.5%) 1.44 4,390
2022-04-01 $594,000 (18.8%) $787,378 (9.5%) 1.42 5,014
2022-05-01 $599,000 (15.2%) $784,477 (7.7%) 1.37 6,826
2022-06-01 $599,000 (13.7%) $767,489 (5.8%) 1.33 8,397
2022-07-01 $595,600 (10.5%) $733,400 (4.3%) 1.35 10,517
2022-08-01 $586,256 (8.6%) $713,323 (2.7%) 1.35 10,886
2022-09-01 $579,900 (6.9%) $704,334 (3.5%) 1.36 11,006
2022-10-01 $575,000 (4.7%) $708,428 (3.3%) 1.35 11,269
2022-11-01 $569,000 (3.5%) $727,372 (3.5%) 1.37 11,195
2022-12-01 $564,593 (2.8%) $729,873 (-1.2%) 1.39 10,046
2023-01-01 $560,000 (2.8%) $743,108 (0.1%) 1.39 8,839
2023-02-01 $559,900 (1.8%) $759,179 (-0.3%) 1.35 8,071
2023-03-01 $559,495 (-2.4%) $767,861 (-1.3%) 1.32 7,511
2023-04-01 $569,000 (-4.2%) $797,969 (1.4%) 1.32 6,787
Riverside's median listing price for 2023-04-01 was $569,000, a difference of $-25,000 (-4.2%) versus the prior year and $9,505 versus the prior month.

Riverside's median listing price comes in at 132% of the national average.

Riverside's average listing price for 2023-04-01 was $797,969, a difference of $10,591 (1.4%) versus the prior year and $30,108 versus the prior month.

For the 2023-04-01 period, Riverside had 6,787 MLS listings, a difference of -724 listings (-10%) versus the prior month and 1,773 listings (35%) 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 1,957 sqft
2018-11-01 50 days 1,946 sqft
2018-12-01 58 days 1,922 sqft
2019-01-01 65 days 1,932 sqft
2019-02-01 57 days 1,941 sqft
2019-03-01 57 days 1,965 sqft
2019-04-01 53 days 1,971 sqft
2019-05-01 52 days 1,988 sqft
2019-06-01 53 days 1,995 sqft
2019-07-01 55 days 1,995 sqft
2019-08-01 63 days 2,008 sqft
2019-09-01 67 days 2,003 sqft
2019-10-01 57 days 1,953 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 56 days 1,974 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 1,997 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 60 days 1,917 sqft
2021-02-01 46 days 1,888 sqft
2021-03-01 37 days 1,906 sqft
2021-04-01 35 days 1,883 sqft
2021-05-01 31 days 1,883 sqft
2021-06-01 32 days 1,864 sqft
2021-07-01 31 days 1,867 sqft
2021-08-01 33 days 1,873 sqft
2021-09-01 37 days 1,872 sqft
2021-10-01 36 days 1,889 sqft
2021-11-01 40 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 1,854 sqft
2022-04-01 29 days 1,880 sqft
2022-05-01 29 days 1,894 sqft
2022-06-01 33 days 1,896 sqft
2022-07-01 36 days 1,872 sqft
2022-08-01 45 days 1,862 sqft
2022-09-01 51 days 1,859 sqft
2022-10-01 53 days 1,854 sqft
2022-11-01 58 days 1,849 sqft
2022-12-01 67 days 1,843 sqft
2023-01-01 73 days 1,849 sqft
2023-02-01 66 days 1,839 sqft
2023-03-01 56 days 1,822 sqft
2023-04-01 53 days 1,829 sqft
Riverside's median listing age (time on market) for 2023-04-01 was 53 days. This is 83% longer than the same period one year ago.

Riverside's median square footage for active listings during the 2023-04-01 period was 1,829 sqft. One year prior, the average listing was 1,880 sqft.