Riverside Lending, LLC offers a variety of loan programs to meet your needs. We are strategically aligned with several company's so Riverside Lending, LLC can offer you the widest product line along with extremely competitive pricing. A summary of our products are below.
 
Conforming Fixed
FHA Fixed Rate
HOMEReady by Fannie Mae
FHA 203(k)/Rehab Loan
Rural Development/USDA
HUD $100 Down
Adjustable Rate Mortgage
Investment Property

Rates last updated on Wednesday, February 24, 2016

Conforming Fixed
This is your traditional fixed rate mortgage. The minimum down payment is 5%. Down payments less than 20% require Private Mortgage Insurance, but there are No Mortgage Insurance Options available even with the minimum down payment of 5%. Minimum middle credit score required is 620. The minimum term for this loan product is 10 years; maximum 30. You can finance with 5 year increments within the range: 15 year, 20, year and 25 year.

Term: 30 years   Maximum Amount: $417,000
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.

FHA Fixed Rate
An FHA loan was initially rolled out to help first-time home buyers. But the low rates and flexible guidelines all us to use this product for all types of buyers. The minimum down payment is just 3.5% and the minimum credit score can be as low as 580.

Term: 30 years   Maximum Amount: $320,850
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.

HOMEReady by Fannie Mae
This is designed for creditworthy, low, to moderate, income borrowers. Key Features: Up to 97% financing No minimum borrower contribution - down payment can come from a gift. Homeownership education required (simple and online) The pricing is comparable if not better to well qualified borrowers with a 20% down payment.

Term: 30 years   Maximum Amount: $417,000
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.

FHA 203(k)/Rehab Loan
The 203(k) loan is a rehabilitation loan used with the FHA purchase. This product allows you to purchase a home and make it YOUR home. The minimum credit score allowed is 640 for this product.

Term: 30 years   Maximum Amount: $320,850
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.

Rural Development/USDA
Rural Development loans are great for homes that qualify. This program offers 102% financing, so no down payment is required! The minimum credit score requirement for this product is 640. This product is also based off of total household income. Be sure to talk to Riverside Lending to see if the home you want to purchase is eligible.

Term: 30 years   Maximum Amount: $417,000
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.

HUD $100 Down
The HUD $100 down program is eligible on HUD Foreclosures when you finance with an FHA loan. Instead of the standard 3.5% down payment an FHA loan requires, the down payment is only $100.

Term: 30 years   Maximum Amount: $320,850
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.

Adjustable Rate Mortgage
Adjustable Rate Mortgages, or ARMs, are back and affordable! These are not your non-conforming ARMs from the mid-2000s where rates jumped to 10+ percent. These ARMs have low initial fixed rate periods of 5, 7 and 10 years and a cap where your rate cannot go above 5% of your initial rate. ARMs are available on conforming and FHA loan products. Before you jump at the low rate and finance with an ARM or disregard the option because of a negative mindset, talk to us about your plans for the home. It is possible an ARM could save you thousands in interest charges.

Term: 30 years   Maximum Amount: $417,000
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.

Investment Property
An Investment Property purchase is also financed with a conforming loan. However the down payment requirement is much different. The minimum down payment for an investment property is 15%, but the credit score requirements are similar. You are also only allowed to have 10 financed properties when purchasing an investment property.

Term: 30 years   Maximum Amount: $417,000
 
Guidelines and requirements often change without notice. Please call us to make sure we can provide you with the most up to date and accurate program details.


This list is not inclusive of what Riverside Lending can do. There are outside the box options for very well qualified customers. Every customer's scenario is different. Do not hesitate to call or email to see what program will be best for you.

Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $250,000 with closing costs of $5,000. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.