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 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.