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 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 -0.4% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

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

    The average rate for the prior week (2023-11-17) was 6.89% and one month ago for the week of 2023-10-20, the average rate was 6.81%.

    The average rate one year ago was 6.15%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.59%.

    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%) $593,155 (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 13,074
    2018-05-01 $406,389 (5.4%) $591,172 (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%) $550,194 (1.8%) 1.36 15,059
    2018-08-01 $404,488 (6.4%) $540,644 (1.4%) 1.36 15,332
    2018-09-01 $400,000 (3.9%) $531,233 (-1.2%) 1.35 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 $406,867 (2.0%) $577,991 (-3.6%) 1.33 14,858
    2019-04-01 $410,345 (1.3%) $580,812 (-2.8%) 1.30 14,698
    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 $416,545 (3.0%) $548,032 (1.4%) 1.32 14,694
    2019-09-01 $412,864 (3.2%) $543,034 (2.2%) 1.32 14,474
    2019-10-01 $410,000 (2.5%) $540,965 (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 (4.4%) $598,571 (3.6%) 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 (10.4%) $649,855 (18.6%) 1.32 6,697
    2020-09-01 $468,944 (13.6%) $669,366 (23.3%) 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 $478,942 (18.3%) $704,684 (26.5%) 1.43 5,504
    2021-01-01 $475,000 (16.7%) $723,213 (27.2%) 1.42 4,610
    2021-02-01 $482,400 (15.1%) $726,355 (23.2%) 1.40 3,908
    2021-03-01 $492,548 (15.9%) $717,233 (19.8%) 1.40 3,803
    2021-04-01 $499,900 (19.0%) $719,272 (24.7%) 1.35 4,032
    2021-05-01 $520,000 (21.5%) $727,930 (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%) $680,580 (1.7%) 1.45 6,375
    2021-10-01 $549,000 (16.8%) $685,667 (-5.8%) 1.46 6,286
    2021-11-01 $549,700 (15.7%) $702,543 (1.8%) 1.47 5,754
    2021-12-01 $549,450 (14.7%) $738,639 (4.8%) 1.49 4,828
    2022-01-01 $545,000 (14.7%) $742,653 (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%) $787,396 (9.5%) 1.42 5,014
    2022-05-01 $599,000 (15.2%) $784,521 (7.8%) 1.37 6,826
    2022-06-01 $599,000 (13.7%) $767,411 (5.8%) 1.33 8,397
    2022-07-01 $596,000 (10.6%) $732,940 (4.2%) 1.34 10,517
    2022-08-01 $586,166 (8.6%) $713,214 (2.7%) 1.36 10,886
    2022-09-01 $579,900 (6.9%) $704,231 (3.5%) 1.36 11,006
    2022-10-01 $575,000 (4.7%) $708,141 (3.3%) 1.35 11,269
    2022-11-01 $569,000 (3.5%) $727,251 (3.5%) 1.37 11,193
    2022-12-01 $564,900 (2.8%) $729,544 (-1.2%) 1.39 10,044
    2023-01-01 $560,000 (2.8%) $742,975 (0.0%) 1.39 8,839
    2023-02-01 $559,900 (1.8%) $758,760 (-0.3%) 1.35 8,071
    2023-03-01 $559,495 (-2.4%) $767,446 (-1.4%) 1.32 7,511
    2023-04-01 $569,000 (-4.2%) $798,028 (1.4%) 1.32 6,787
    2023-05-01 $580,000 (-3.2%) $813,166 (3.7%) 1.31 6,740
    2023-06-01 $580,000 (-3.2%) $801,331 (4.4%) 1.30 6,879
    2023-07-01 $585,000 (-1.9%) $788,260 (7.6%) 1.33 7,306
    2023-08-01 $575,500 (-1.8%) $768,714 (7.8%) 1.32 7,614
    2023-09-01 $579,000 (-0.2%) $765,590 (8.7%) 1.35 7,856
    2023-10-01 $580,000 (0.9%) $775,553 (9.5%) 1.36 8,430
    Riverside's median listing price for 2023-10-01 was $580,000, a difference of $5,000 (0.9%) versus the prior year and $1,000 versus the prior month.

    Riverside's median listing price comes in at 136% of the national average.

    Riverside's average listing price for 2023-10-01 was $775,553, a difference of $67,412 (9.5%) versus the prior year and $9,963 versus the prior month.

    For the 2023-10-01 period, Riverside had 8,430 MLS listings, a difference of 574 listings (7%) versus the prior month and -2,839 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 56 days 1,990 sqft
    2018-02-01 43 days 1,989 sqft
    2018-03-01 43 days 2,013 sqft
    2018-04-01 43 days 2,038 sqft
    2018-05-01 40 days 2,040 sqft
    2018-06-01 41 days 2,027 sqft
    2018-07-01 43 days 2,011 sqft
    2018-08-01 45 days 1,996 sqft
    2018-09-01 46 days 1,976 sqft
    2018-10-01 46 days 1,957 sqft
    2018-11-01 48 days 1,945 sqft
    2018-12-01 58 days 1,922 sqft
    2019-01-01 64 days 1,932 sqft
    2019-02-01 54 days 1,941 sqft
    2019-03-01 50 days 1,957 sqft
    2019-04-01 51 days 1,971 sqft
    2019-05-01 50 days 1,988 sqft
    2019-06-01 52 days 1,995 sqft
    2019-07-01 53 days 1,995 sqft
    2019-08-01 53 days 1,982 sqft
    2019-09-01 54 days 1,965 sqft
    2019-10-01 55 days 1,953 sqft
    2019-11-01 57 days 1,950 sqft
    2019-12-01 66 days 1,943 sqft
    2020-01-01 70 days 1,952 sqft
    2020-02-01 62 days 1,967 sqft
    2020-03-01 52 days 1,973 sqft
    2020-04-01 58 days 1,929 sqft
    2020-05-01 69 days 1,950 sqft
    2020-06-01 67 days 1,969 sqft
    2020-07-01 57 days 1,996 sqft
    2020-08-01 47 days 1,998 sqft
    2020-09-01 44 days 1,980 sqft
    2020-10-01 44 days 1,975 sqft
    2020-11-01 48 days 1,964 sqft
    2020-12-01 57 days 1,956 sqft
    2021-01-01 57 days 1,917 sqft
    2021-02-01 42 days 1,888 sqft
    2021-03-01 35 days 1,906 sqft
    2021-04-01 33 days 1,883 sqft
    2021-05-01 30 days 1,883 sqft
    2021-06-01 31 days 1,864 sqft
    2021-07-01 31 days 1,867 sqft
    2021-08-01 33 days 1,873 sqft
    2021-09-01 36 days 1,873 sqft
    2021-10-01 36 days 1,889 sqft
    2021-11-01 40 days 1,899 sqft
    2021-12-01 45 days 1,894 sqft
    2022-01-01 44 days 1,868 sqft
    2022-02-01 31 days 1,854 sqft
    2022-03-01 30 days 1,854 sqft
    2022-04-01 28 days 1,880 sqft
    2022-05-01 28 days 1,894 sqft
    2022-06-01 32 days 1,897 sqft
    2022-07-01 36 days 1,872 sqft
    2022-08-01 44 days 1,864 sqft
    2022-09-01 50 days 1,860 sqft
    2022-10-01 53 days 1,857 sqft
    2022-11-01 57 days 1,849 sqft
    2022-12-01 66 days 1,844 sqft
    2023-01-01 73 days 1,850 sqft
    2023-02-01 65 days 1,842 sqft
    2023-03-01 54 days 1,823 sqft
    2023-04-01 51 days 1,831 sqft
    2023-05-01 46 days 1,843 sqft
    2023-06-01 44 days 1,834 sqft
    2023-07-01 45 days 1,836 sqft
    2023-08-01 47 days 1,812 sqft
    2023-09-01 49 days 1,800 sqft
    2023-10-01 49 days 1,815 sqft
    Riverside's median listing age (time on market) for 2023-10-01 was 49 days. This is -8% shorter than the same period one year ago.

    Riverside's median square footage for active listings during the 2023-10-01 period was 1,815 sqft. One year prior, the average listing was 1,857 sqft.