Interest Rates

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 (non MRB Program)
                     1 or 2 person household: $87,360                      with Extra Assistance: No Income Limits
                     3 or more in the household: $101,920                no Extra Assistance: No Income Limits 
Maximum acquisition cost: $392,823                                   Maximum loan amount: $424,100

as of July 20, 2017 @ 10:00 a.m. Rate APR
Loans for Homebuyers
*FHA,VA,RD Purchase Mortgage
3.625% 5.188%
*FHA 203(k) Purchase Rehab Mortgage
3.875% 5.479%
Conventional Purchase Mortgage with 20% Down
4.500% 4.557%
Conventional Purchase with Mortgage Insurance
4.500% 4.966%
No Mortgage Insurance Conventional Purchase
5.250% 5.310%
Loans with Extra Assistance for First-time Homebuyers
*FirstHomes100 - FHA,VA,RD Purchase Mortgage
3.625% 5.188%
*FirstHomes100 + FHA 203(k) Purchase Rehab
3.875% 5.479%
FirstHomes100 - Conventional Purchase with Mortgage Insurance
4.625% 5.093%
FirstHomes100 - No Mortgage Insurance Purchase
5.250% 5.000%

Participating Lender (MRB only)
                     1 or 2 person household: $87,360                      
                     3 or more in the household: $101,920                
Maximum acquisition cost: $392,823                                   

*Participating Lender MRB Program and FHA, RD, VA through the RIH 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.