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 18 lenders originated 55 USDA loans during 2023. The total origination value was $15,115,000, with an average USDA loan value of $274,818.
Riverside USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Riverside
averaged
6.47%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Riverside's average USDA mortgage closing costs are $6,709.
The average rate for the prior week (2024-11-01) was
6.44% and
one month ago for the week of 2024-10-04, the
average rate was 5.77%.
The average rate one year ago was 7.41%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.51%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FIRST NATIONS HOME FINANCE CORPORATION | 24 | 6.22% | $9,363 |
| CROSSCOUNTRY MORTGAGE, LLC | 4 | 6.44% | $9,198 |
| Paramount Residential Mortgage Group, Inc. | 4 | 6.50% | $10,614 |
| UNITED WHOLESALE MORTGAGE, LLC | 4 | 5.53% | $13,700 |
| LOANDEPOT.COM, LLC | 2 | 6.25% | $9,858 |
| SUN WEST MORTGAGE COMPANY, INC. | 2 | 5.69% | $15,269 |
| Franklin Loan Corporation | 1 | 6.63% | $15,657 |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 6.38% | $13,868 |
| GUARANTEED RATE, INC. | 1 | 5.38% | $8,431 |
| MOUNTAIN WEST FINANCIAL, INC. | 1 | 5.75% | $6,002 |
| OCMBC, INC. | 1 | 5.00% | $25,821 |
| PLAZA HOME MORTGAGE, INC. | 1 | 6.25% | $7,207 |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | 1 | 6.38% | $11,197 |
| AXIA FINANCIAL, LLC | 1 | 6.25% | $9,914 |
| BANC ONE MORTGAGE CORPORATION | 1 | 10.50% | $11,990 |
| Century Mortgage Company DBA Century Lending Company | 1 | 5.99% | $11,521 |
| DIGNIFIED HOME LOANS, LLC | 1 | 6.00% | $12,459 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 5.75% | $8,554 |
The top Riverside USDA lender as defined by loan originations is FIRST NATIONS HOME FINANCE CORPORATION, with
24 USDA loans originated. Their average total fees are
$9,363, which is $165
higher 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 ($9,363), .
The lowest rate Riverside USDA lenders (with over 10 loans originated) are
FIRST NATIONS HOME FINANCE CORPORATION (6.22%), .