Riverside VA Loans
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA
A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.
The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.
For additional benefits of VA loans, click here.
Riverside's 289 lenders originated 24,516 VA loans during 2021. The total origination value was $10,096,290,000, with an average VA loan value of $411,825.
Riverside VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Riverside
averaged
5.48%
for the week of 2022-05-20, compared to the national average (all VA variants) of
5.143% for the same period.
The average rate for the prior week (2022-05-13) was
5.29% and
one month ago for the week of 2022-04-15, the
average rate was 5.25%.
The average rate one year ago was 3.24%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.42%.
Riverside VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Riverside level.
The top Riverside VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with
2,118 VA loans originated. Their average total fees are
$3,845, which is $4,003
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Riverside VA lenders (with over 10 loans originated) are
MID AMERICA MORTGAGE, INC. ($2,366), LAKEVIEW LOAN SERVICING, LLC ($2,595), Credence Funding Corporation ($2,625), Lakeview Community Capital, LLC ($2,888) and S&S Financial ($3,224).
The lowest rate Riverside VA lenders (with over 10 loans originated) are
CANOPY MORTGAGE, LLC (2.16%), VILLAGE CAPITAL & INVESTMENT LLC (2.25%), ACCELERATE MORTGAGE, LLC (2.25%), TJC Mortgage, Inc. (2.26%) and Credence Funding Corporation (2.27%).
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 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 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.
