When buying a home it is important to know what you are getting into. Rhode Island Housing offers mortgages for first-time homebuyers as well as current homeowners who are looking to sell their existing home and buy a new one, or refinance their existing mortgage. All rates are subject to change without prior notice.

Rhode Island Housing offers a suite of loan options specifically designed to fit the needs of home buyers and homeowners. All posted rates are for 30-year terms with zero points. Higher points are available with lower corresponding rates. Rates are subject to change.

Income limits:  Loan Center                                                  Participating Lender
                      1 or 2 person household: $89,280                       with Extra Assistance: No Income Limits
                      3 or more in the household: $104,160                 no Extra Assistance: No Income Limits 
Maximum purchase price: $407,195                                       Maximum loan amount: $424,100

as of April 28, 2017 @ 10:00 a.m. Rate APR
Loans for Homebuyers
*FHA,VA,RD Purchase Mortgage
3.875% 5.441%
*FHA 203(k) Purchase Rehab Mortgage
4.125% 5.733%
Conventional Purchase Mortgage with 20% Down
4.625% 4.682%
Conventional Purchase with Mortgage Insurance
4.625% 5.093%
No Mortgage Insurance Conventional Purchase
5.250% 5.310%
Loans with Extra Assistance for First-time Homebuyers
*FirstHomes100 - FHA,VA,RD Purchase Mortgage
3.875% 5.441%
*FirstHomes100 + FHA 203(k) Purchase Rehab
4.125% 5.733%
FirstHomes100 - Conventional Purchase with Mortgage Insurance
4.625% 5.093%
FirstHomes100 - No Mortgage Insurance Purchase
5.250% 5.310%
*Please note: Current FHA first mortgage options through the Loan Center are available only to first-time homebuyers, subject to the Federal Recapture tax, and may not be combined with the FirstHomes Tax Credit (Mortgage Credit Certificate) program.


Complete a pre-approval application
Use the links below to access the pre-approval application and get started on this important step.

Pre-Approval Application - English

Pre-Approval Application - Spanish

Contact a Mortgage Specialist or Participating Lender
Contact a Mortgage Specialist or Participating Lender to explore your options and determine which loan best fits your needs.