Riverside Mortgage Rates 2025
Your guide to home loans in Riverside, California.
Riverside, California Mortgage Rates Today
Current Riverside mortgage rates range from 6.25% to 7.50% depending on loan type, credit score, and down payment. Riverside is located in Riverside County with high-cost conforming loan limits of $766,550. Most buyers use conventional or FHA loans with 3.5-10% down payments.
Quick Answer: Riverside mortgage rates affect thousands of families and first-time buyers looking to purchase homes in the Inland Empire. Understanding local rates, Riverside County loan limits, and Riverside's unique housing market helps buyers make informed financing decisions.
Median Home Price
$585,000
Avg. Days on Market
38
1-Year Appreciation
+4.5%
Most Common Loan
Conventional
Current Riverside Mortgage Rates by Loan Type
Average Riverside Rates This Week
| Loan Type | Rate Range | Down Payment | Best For |
|---|---|---|---|
| 30-Year Fixed Conventional | 6.25% - 7.00% | 5-20% | Strong credit, stable income |
| 15-Year Fixed Conventional | 5.50% - 6.25% | 10-20% | Faster payoff, wealth building |
| FHA 30-Year Fixed | 5.75% - 6.50% | 3.5% | First-time buyers, lower credit |
| VA 30-Year Fixed | 5.50% - 6.25% | 0% | Eligible veterans, no PMI |
Rates updated October 26, 2025. Your actual rate depends on credit score, down payment, property type, and lender selection.
Riverside Mortgage Payment Examples
Median Riverside Home Purchase
Home Price: $585,000
Down Payment: 10% ($58,500)
Loan Amount: $526,500
Interest Rate: 6.65%
Loan Type: Conventional
Monthly Payment Breakdown:
- Principal & Interest: $3,379
- Property Taxes: $577 (0.99% rate)
- Homeowners Insurance: $125
- PMI: $219
- Total Monthly Payment: $4,300
Annual Income Needed: ~$150,000
Calculate your payment →First-Time Buyer in Riverside
Home Price: $450,000
Down Payment: 3.5% FHA ($15,750)
Loan Amount: $434,250
Interest Rate: 6.25%
Total Monthly Payment: $3,450
Income Required: ~$115,000/year
Riverside Home Loan Programs
1. Conventional Mortgages in Riverside
Many Riverside buyers choose conventional loans because home prices ($500K-$600K median) fall within conforming limits, avoiding jumbo loan requirements.
Key Features:
- Down payment as low as 3-5%
- PMI cancels at 20% equity
- Riverside County conforming limit: $766,550
- Competitive rates for 680+ credit scores
Best For:
- Buyers with good to excellent credit
- Those with 5%+ for down payment
- Repeat buyers with equity
2. FHA Loans in Riverside
Riverside's affordable home prices and first-time buyer population make FHA loans extremely popular.
Key Features:
- Riverside County FHA limit: $644,000
- Minimum down payment: 3.5%
- Minimum credit score: 580
- Maximum DTI: Up to 50% with strong credit
Best For:
- First-time buyers with limited savings
- Borrowers with credit scores 580-680
- Need for flexible debt-to-income ratios
3. VA Loans in Riverside
Riverside County has a large veteran population, making VA loans a critical financing option for the community.
Key Features:
- $0 down payment required
- No monthly mortgage insurance (PMI)
- Riverside County VA limit: No limit for full entitlement
- Competitive rates (typically 0.25-0.5% below conventional)
Best For:
- Eligible active-duty military and veterans
- Buyers wanting to save cash on down payment
- Estimated veteran population: 95,000+
Riverside Neighborhood Mortgage Guide
Wood Streets
$550K - $750K
Home Type: Historic Single-Family
Schools: Good
Typical Loan: Conventional
Buyer Profile: Families, professionals
Canyon Crest
$650K - $900K
Home Type: Single-Family Homes
Schools: Excellent
Typical Loan: Conventional/Jumbo
Buyer Profile: Move-up buyers, families
Orangecrest
$600K - $800K
Home Type: Modern Single-Family
Schools: Very Good
Typical Loan: Conventional/FHA
Buyer Profile: First-time buyers, families
Downtown Riverside
$400K - $600K
Home Type: Condos & Townhomes
Schools: N/A
Typical Loan: FHA/Conventional
Buyer Profile: Young professionals, singles
Riverside County Loan Limits & Taxes
Riverside County 2025 Loan Limits
- Conforming Loan Limit: $766,550
- FHA Loan Limit: $644,000
- VA Loan Limit: No limit with full entitlement
What This Means for Riverside Buyers: Riverside County's $766,550 conforming limit means most Riverside homes ($585K median) qualify for conventional financing without needing expensive jumbo loans.
Riverside County Property Taxes
Effective Tax Rate: ~0.99%
- On $500K home: $412/month
- On $750K home: $619/month
Riverside-Specific Tax Considerations: Some newer neighborhoods in Riverside may have Mello-Roos taxes, which can add $100-$300 per month to your property tax bill. Always check a property's tax records.
Getting Pre-Approved for a Riverside Mortgage
Why Pre-Approval Matters in Riverside
Riverside's active market (30-45 days on market average) means buyers with pre-approval have a significant advantage. It shows sellers you are a serious contender.
- Know your exact home budget in Riverside's market.
- Strengthen your offer against other buyers.
- Lock in an interest rate for 60-90 days.
- Close faster (typically 21-30 days) once your offer is accepted.
Riverside Mortgage & Housing Market FAQ
What's the average mortgage payment in Riverside?
The average Riverside mortgage payment is approximately $3,800-$4,500 per month based on median home prices of $585,000 with a 10% down payment at current interest rates. This includes principal, interest, property taxes, insurance, and PMI.
What income do I need to buy a home in Riverside?
To buy a median-priced Riverside home ($585,000), you typically need around $150,000 in annual household income. This assumes a 10% down payment, a 6.65% interest rate, and a 36% back-end debt-to-income ratio with minimal other debts.
What credit score do I need for a Riverside mortgage?
Riverside mortgage lenders require minimum credit scores of: 580 for FHA loans, 620-640 for conventional loans, and 620+ for VA loans. Higher credit scores (740+) result in better interest rates and lower monthly payments.
How much down payment do I need in Riverside?
Down payment requirements in Riverside vary: FHA loans require 3.5% minimum, conventional loans allow 3-5%, and VA loans require 0% for eligible veterans. On Riverside's median home price ($585,000), this means a down payment of $20,475 (FHA) to $58,500 (10% conventional).