Rhode Island Mortgages (RI)

According to a study by Richard DeKaser, chief economist for National City Corp., real estate in Rhode Island is undervalued. Using long-term historic data, properties in Rhode Island have room to increase in current value to reach their fair value. With high inventories in Rhode Island, it is becoming a buyer’s market.  Selling prices are coming down. Mortgage rates fell slightly in early April, making this a good time to purchase or re-finance a home in Rhode Island.

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Quick Rhode Island Housing facts

Percent of Rhode Islanders who own a home: 60%

Percent of Renters in Rhode Island: 40%

Median Rhode Island Household Income: $44,050

Average Rhode Island credit score: 692

Best City to live in Rhode Island: Barrington, Rhode Island

Median Rhode Island Home Value: $133,000

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How much house can I afford in Rhode Island

One of the biggest problems facing Rhode Island’s homebuyers is figuring out how much house you can afford. We have some great online mortgage calculators that can help you figure how much home will fit into your monthly budget.  

Refinancing in Rhode Island

With mortgage rates still at an all time low, now is a great time to refinance for any reason.  If you are looking to pull money from your home to pay off debt or if you are looking to lock in a low interest rate with a fixed rate mortgage, there is no better time then today.  Most experts agree that rates will rise; it is just a question of when.  

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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.