Mortgage Broker in Riverside, CA - More Options, Better Rates
Matt Mayo is a licensed mortgage broker serving Riverside and the Inland Empire with access to 150+ wholesale lenders. Whether you're a first-time buyer looking at a starter home near La Sierra, a veteran using your VA benefit near March Air Reserve Base, or an investor eyeing a rental property near UC Riverside, I shop rates and programs across dozens of lenders to find the right fit. Book a free consultation to see what you qualify for.
Book a Free ConsultationRiverside Market Snapshot
Last updated: Mar 1, 2026
Median Price
$640,000
Avg Days on Market
60
Entry Price
$425K-$550K (condos, older single-family in Eastside/La Sierra)
High End
$900K-$1.5M+ (Alessandro Heights, Hawarden Hills, Wood Streets estates)
Typical properties: Single-family homes, condos, townhomes, multi-unit properties, and estate lots
Source: Redfin Riverside Housing Market
Loan Programs That Work in Riverside
Conventional
Riverside's $640,000 median price sits comfortably within the $832,750 conforming limit for Riverside County. Conventional financing with 3–5% down is the most common loan type I use for Riverside buyers. On a $640K purchase, 5% down is $32,000 — and PMI drops off once you hit 20% equity, which saves you money over FHA's lifetime mortgage insurance.
FHA
The 2026 FHA loan limit for Riverside County is $690,000. With a median price of $640,000, most Riverside homes fall within FHA range. FHA requires just 3.5% down — about $22,400 on a $640K home — and offers more flexibility on credit scores and debt-to-income ratios. It's a strong option for first-time buyers in La Sierra and the Eastside where prices run $425K–$550K.
VA
Riverside is home to March Air Reserve Base and has a large veteran and military-connected population. VA loans are one of the best tools available — zero down payment, no monthly mortgage insurance, and competitive rates. On a $640K home, that's $640,000 in financing with nothing down. I work with VA-eligible buyers throughout Riverside and understand the base-specific considerations.
Jumbo
The premium neighborhoods in Riverside — Alessandro Heights, Hawarden Hills, and some Wood Streets properties — can push past the $832,750 conforming limit. I work with jumbo lenders offering competitive rates with as little as 10% down. For high-value purchases in Riverside's hillside and estate communities, having access to multiple jumbo lenders means I can find the most competitive terms.
DSCR (Investor)
Riverside's rental market is fueled by UC Riverside, growing employment centers, and families priced out of coastal markets. Rents are strong relative to purchase prices, especially in the $425K–$600K range. DSCR loans qualify based on the property's rental income — not your personal income. No tax returns, no W-2s. Perfect for investors building a portfolio in the Inland Empire.
Down Payment Assistance
Riverside buyers have access to strong DPA options. The county's Housing and Workforce Solutions program offers up to 20% of the purchase price as a silent second mortgage. Dream For All provides up to 20% (lottery-based). CalHFA MyHome adds up to 3.5%. And I have access to wholesale lender DPA that can cover up to 100% of the FHA down payment. On a $550K home, stacked DPA could cover the entire down payment.
HELOC / Home Equity
If you already own in Riverside and purchased before the recent appreciation cycle, you've likely built significant equity. A HELOC lets you tap that equity for renovations, an investment property down payment, or debt consolidation. Riverside home values have risen substantially over the past several years. I work with lenders offering HELOCs up to 95% combined loan-to-value.
Riverside County Loan Limits
2026
FHA Limit
$690,000
Conforming Limit
$832,750
Local Assistance Programs in Riverside
Dream For All Shared Appreciation Loan
Up to 20% of the purchase price as a down payment loan with no monthly payments. This is a lottery-based program. If registration is open, you sign up, and if selected, you receive funding. On a $600,000 home, that's up to $120,000 in assistance. The tradeoff: shared appreciation when you sell. I always tell clients to apply if they're eligible, but don't build your plan around it.
First-generation, first-time buyers. California resident required. Registration typically opens once per year.
CalHFA MyHome Assistance Program
A deferred-payment junior loan up to 3.5% of the purchase price for down payment or closing costs. No monthly payment on this loan. It's due when you sell, refinance, or pay off the first mortgage. On a $600,000 purchase, that's up to $21,000.
Income limits vary by county. Must be paired with a CalHFA first mortgage.
CalPlus with ZIP Extra
CalHFA conventional program paired with a zero-interest closing cost grant of up to 3% of the loan amount. The grant doesn't need to be repaid. On a $600,000 loan, that's up to $18,000 toward your closing costs. The tradeoff is a slightly higher rate on the first mortgage, but for buyers who are cash-strapped at closing, this can make the difference.
Slightly higher rate on first mortgage. Best for buyers short on cash at closing.
Riverside County First-Time Home Buyer Program
The county's Housing and Workforce Solutions (HWS) department offers up to 20% of the purchase price as a silent second mortgage for down payment. No monthly payments. This is a strong local program, though funding opens periodically and availability can be limited. On a $550,000 home, that could be up to $110,000.
Must be a first-time buyer. Income limits apply (low-to-moderate income households). Must complete an 8-hour HUD homebuyer education course. Property must be in Riverside County. Must work with a participating lender.
Lender-Specific DPA Programs
Through my wholesale lender relationships, I have access to DPA programs that can cover up to 100% of the FHA minimum down payment. These change frequently and each has its own income limits and guidelines. They're only available through brokers with wholesale lender access, which is a real advantage of working with me versus going direct to a bank.
Income limits vary by program. Only available through brokers with wholesale lender relationships.
Riverside County Programs
Riverside County FTHB Program (HOME & PLHA)
Administered by the County of Riverside Housing and Workforce Solutions department, this program provides down payment assistance as a silent second mortgage to income-eligible first-time homebuyers. Assistance is limited to 20% of the purchase price. The program has helped over 900 families with more than $21 million in down payment assistance since its inception.
First-time homebuyer (no ownership in past 3 years). Income must not exceed program limits. Must complete an 8-hour HUD-approved homebuyer education class. Must work with a county-approved participating lender. Closing cost assistance is not currently available under this program.
Learn moreNeighborhood Insights
Riverside is one of the most interesting markets in the Inland Empire — a mix of historic charm, university-town energy, and hillside estates. Here's what I tell buyers who are exploring the area: The Wood Streets is Riverside's most iconic neighborhood — a grid of tree-canopied streets named after types of wood (Magnolia, Chestnut, Lime, etc.) surrounding the historic Mission Inn. Craftsman bungalows, Spanish Colonial homes, and midcentury ranches line these streets, with prices ranging from $500K to $750K. Conventional financing is the standard here, and the neighborhood's historic character attracts buyers looking for something with personality. Mission Inn / Downtown Riverside is the cultural and civic center of the city — the Mission Inn Hotel, the Fox Performing Arts Center, the Main Street pedestrian mall, and a growing number of restaurants and shops. Condos and lofts in the downtown core start around $350K–$450K, with single-family homes in the surrounding blocks running $450K–$600K. FHA and conventional both work well, and downtown is a growing target for DSCR investors buying small multi-unit properties. Canyon Crest is the neighborhood surrounding UC Riverside — a mix of single-family homes, condos, and townhomes that attract university faculty, staff, and families. Prices range from $500K to $700K. The UCR connection keeps rental demand strong, making this area attractive for both owner-occupants and investors. Conventional and FHA are the primary options. Alessandro Heights sits in the hills south of the 91 freeway with panoramic views of the valley. This is one of Riverside's premium neighborhoods, with larger custom homes on hillside lots. Prices range from $900K to $1.5M+. High-balance conventional or jumbo financing depending on the specific property. The views and lot sizes command a premium. La Sierra is one of Riverside's most accessible neighborhoods for first-time buyers. Located in the western part of the city near the 91 freeway, La Sierra offers a mix of older single-family homes, newer developments, and manufactured housing. Prices range from $425K to $600K. FHA with DPA is the most common strategy I use for buyers in this area — the combination of affordable prices and strong DPA programs makes homeownership realistic. Hawarden Hills is Riverside's most exclusive neighborhood — estate lots with custom homes, equestrian properties, and sweeping views. Prices start around $1M and can push well past $1.5M. Jumbo financing is typical here, and I work with lenders offering competitive jumbo rates with flexible down payment options. Riverside's proximity to March Air Reserve Base, UC Riverside, and the growing logistics and healthcare sectors keeps the housing market fundamentally supported by employment growth and population demand.
Why Work With a Riverside Mortgage Broker?
When you apply at a bank in Riverside, you get that bank's rates, that bank's guidelines, and that bank's answer. As a mortgage broker, I shop your loan across 150+ wholesale lenders to find the one that gives you the best combination of rate, terms, and approval likelihood. Riverside's market ranges from $425K starter homes in La Sierra to $1.5M estates in Hawarden Hills — and each scenario calls for a different lender. Having access to 150+ options means I can match you with the right one, not just the one that happens to have a branch nearby.
What "150+ Lenders" Actually Means for You
Every lender has different guidelines — different ways they count income, different overlays on credit history, and different property type restrictions. Here's a real example: a Riverside buyer near March ARB who had VA eligibility but also wanted to use CalHFA DPA. The bank said they couldn't combine VA with CalHFA. I placed the loan with a wholesale lender that offered a conventional product paired with CalHFA MyHome, giving the buyer the DPA they needed at a competitive rate. Same buyer, better outcome, because I had more options.
My Pre-Approval Actually Means Something
I do a full document review upfront — income, assets, credit, employment, and property considerations — before I issue a pre-approval letter. In Riverside's market, where well-priced homes in the Wood Streets and Canyon Crest can attract multiple offers, a strong pre-approval separates serious buyers from everyone else. My pre-approvals are backed by actual underwriting work, not just a credit pull and a conversation. When your agent submits an offer, the listing agent knows you're real.
Serving Riverside and the Inland Empire
I work with buyers and investors throughout Riverside County and the Inland Empire. I understand the local DPA programs — the Riverside County FTHB program (up to 20% of purchase price), CalHFA, Dream For All, and lender-specific programs through my wholesale partners. I also understand the unique dynamics of this market: the March ARB military community, the UC Riverside rental demand, the hillside premiums in Alessandro Heights and Hawarden Hills, and the first-time buyer opportunities in La Sierra and the Eastside. Whether you're buying your first home with DPA, using your VA benefit, or investing in a rental, I build a strategy around your situation.
Frequently Asked Questions
How much do I need for a down payment on a home in Riverside?
On a $640,000 home (Riverside's median), FHA requires about $22,400 (3.5% down). Conventional starts at 3% for first-time buyers ($19,200). VA is zero down. Riverside County's FTHB program offers up to 20% of the purchase price as a silent second mortgage, and CalHFA MyHome adds up to 3.5%. With stacked DPA, many Riverside buyers close with significantly less out of pocket.
What is the FHA loan limit in Riverside County for 2026?
The 2026 FHA loan limit for Riverside County is $690,000 for a single-family home. With Riverside's median price around $640,000, most homes in the city qualify for FHA financing. FHA requires just 3.5% down and is more flexible on credit scores than conventional loans.
What is the conforming loan limit in Riverside County for 2026?
The 2026 conforming loan limit for Riverside County is $832,750. Most homes in Riverside fall within this limit, including many in the Wood Streets and Canyon Crest. Properties in Alessandro Heights and Hawarden Hills may push above the conforming limit and require jumbo financing.
What is the Riverside County FTHB program?
The Riverside County First-Time Home Buyer Program is administered by the Housing and Workforce Solutions (HWS) department. It provides up to 20% of the purchase price as a silent second mortgage — no monthly payments. On a $550,000 home, that's up to $110,000. You must be a first-time buyer, meet income limits, complete an 8-hour HUD homebuyer education course, and work with a participating lender. Funding opens periodically.
What first-time buyer programs are available in Riverside?
Riverside buyers can access several programs: Dream For All (up to 20% of purchase price, lottery-based), CalHFA MyHome (up to 3.5% deferred loan), CalPlus with ZIP Extra (up to 3% closing cost grant), Riverside County FTHB (up to 20% silent second), and lender-specific DPA through my wholesale partners. These programs can often be stacked to cover most or all of your down payment.
What's the difference between a mortgage broker and a bank?
A bank has one set of rates and one set of guidelines. A mortgage broker like me shops your loan across 150+ wholesale lenders to find the best rate, terms, and program. In Riverside — where buyer needs range from FHA with DPA to VA loans near March ARB to jumbo financing in Hawarden Hills — that flexibility is especially valuable. I also have access to programs that banks don't offer, including DSCR investor loans and wholesale lender DPA.
Is Riverside affordable for first-time homebuyers?
Riverside is more affordable than coastal Southern California, but the $640,000 median still requires a strategy. Entry points in La Sierra and the Eastside start around $425K–$550K. With FHA (3.5% down), the Riverside County FTHB program (up to 20% of purchase price), CalHFA MyHome (3.5% deferred loan), and lender-specific DPA, first-time buyers can get into a home with minimal cash out of pocket. The DPA stacking options here are among the best in the Inland Empire.
How much are closing costs when buying a home in Riverside?
Closing costs in Riverside typically run 2–3% of the purchase price. On a $640K home, that's roughly $12,800–$19,200, covering lender fees, title insurance, escrow, recording fees, and prepaid items like insurance and property taxes. California does not have a mortgage tax, which helps compared to some states. CalPlus with ZIP Extra can provide up to 3% as a grant toward closing costs.
Can I get a mortgage in Riverside if I'm self-employed?
Yes. Riverside and the Inland Empire have a large self-employed population — logistics operators, small business owners, real estate professionals, and contractors. I work with wholesale lenders offering bank statement programs (12 or 24 months of deposits), 1099-only programs, and asset depletion loans. These non-QM products qualify you based on actual income deposits rather than tax return net income, and they're only available through brokers.
What happens if the appraisal comes in low on a Riverside home?
A low appraisal means the property appraised for less than your purchase price. In Riverside — where neighborhoods like the Wood Streets and Canyon Crest have seen strong appreciation — this can happen when recent comparable sales haven't caught up with demand. Your options include renegotiating the price, bringing additional cash to close, or working with a different lender. As a broker with 150+ lenders, I have more options to navigate appraisal issues than a single bank.
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