Riverside VA Loan Rates, Closing Costs & Stats
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 not 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
6.19%
for the week of 2023-01-27, compared to the national average (all VA variants) of
5.952% for the same period.
Riverside's average VA mortgage closing costs are $6,773.
The average rate for the prior week (2023-01-20) was
6.22% and
one month ago for the week of 2022-12-23, the
average rate was 6.69%.
The average rate one year ago was 3.79%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.83%.
Riverside VA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs 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 MORTGAGE (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 | $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 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 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.