Compare mortgage rates and fees for leading lenders in Riverside, CA. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Riverside.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Riverside. Plus, shopping lenders is free and there is no obligation.
October 21, 2019
The current average rate for a 30 year fixed rate mortgage in Riverside is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Riverside, CA is $391,144
The median household income for Riverside, CA is $62,666
Based on current mortgage rates and a 10% down payment, you need to make $72,570 per year to buy the median priced home in Riverside
The home price you can afford to buy based on household income in Riverside is 86% of the median home value which means housing prices are expensive
Riverside ranks 34 out of 58 counties in California and 3,066 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Riverside, CA is expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Riverside below.
Conforming loan limits for Riverside, CA
FHA loan limits for Riverside, CA
VA loan limits for Riverside, CA
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index