Buying a Home - Rhode Island mortgages, down payment assistance and first time home buyer grants for buying Rhode Island real estate.

Research the available Rhode Island mortgages and home loan programs for buying Rhode Island real estate.

Bookmark this page for your home buying reference and email this page to the next person you know who will be buying Rhode Island real estate. 

• Government grants for buying a home

• Down payment assistance 

• Bad credit loans for buying a home

• mortgages and home loans

• Mortgage Calculator
  
  
• Search Rhode Island Real Estate Listings

Government grants for buying a home

Here are some links for government grants for buying a home in Rhode Island.

Rhode Island statewide home buyer programs - the Rhode Island Housing and Mortgage Finance Corporation offers several home buying assistance programs which are available wherever you live in the State of Rhode Island
http://www.rihousing.com/buyhome/fr_bah.html

Home renovation/repair assistance programs - the Rhode Island Housing and Mortgage Finance Corporation also offers programs which assist homeowners repair their existing home, and their "Buy It/Fix It" program assists individuals to borrow money to buy an older house and make major repairs all in one loan.
http://www.rihousing.com/repair/fr_bah.html

Rhode Island affiliates of Habitat for Humanity - Habitat for Humanity has affiliates at several locations throughout the state, and brings families and communities in need together with volunteers and resources to build decent, affordable housing.
http://www2.habitat.org/

Homebuyer assistance programs - offered by the U.S. Department of Agriculture, Rhode Island Southern New England Rural Development Office
http://www.rurdev.usda.gov/ma/housing.htm

Local home buying Programs - many cities and local organizations also offer homeownership assistance programs.

Rhode Island Entitlement Cities

City of Cranston - offers both home improvement and closing cost assistance to qualifying individuals
http://www.cranstonri.com

City of Providence - offers a wide array of home buying and homeowner assistance programs
http://www.providenceri.com

City of Woonsocket - offers both homebuyer assistance and home improvement programs for qualifying individuals
http://www.ci.woonsocket.ri.us/grant.htm

Other Local Programs

Statewide Housing Action Coalition's searchable database of programs - allows individuals to search for various types of housing programs either statewide, by region, or by specific city
http://www.shac-ri.org/search.cfm

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Down payment assistance 

Below are down payment assistance programs that may be used to buy a home in Rhode Island.

Nehemiah - down payment assistance program for buying a home with no money down.

HART - down payment assistance program allows you to buy a home with no money down.

Neighborhood gold - this is another down payment assistance program that allows you to buy a home with no money down.

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Bad credit loans for buying a home or refinancing.

There are many mortgage lenders who specialized in bad credit loans for buying a home in Rhode Island or refinancing. Use the link below to complete a form from our partner LendingTree and receive offers from lenders who maybe able assist you.

Bad Credit Mortgage Loans - these types of mortgages are for those individuals  with the following types of issues:

• bankruptcy in the last 2 years

• foreclosure in the last 3 years

• low credit scores below 620

(not sure what your credit score is, get a Free Credit Report)

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mortgages and home loans

These website can assist your with obtaining mortgages for buying a home in Rhode Island.

FHA loans - government insured mortgages that allow you to buy a home with only 3% down payment.

VA loans - if you are a veteran, you may buy a home with no money down.

Conventional Loans - any mortgage loan that requires 5% down payment and is less than $417,000 for a single family home.

Jumbo Loans - any mortgages where the loan amount is higher than $417,000 for a single family home.

Mortgages - this site has information regarding fannie mae and freddie mac conventional loans.

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Mortgage Calculator

Use this mortgage calculator to calculate the monthly mortgage payment based on the required loan amount, current mortgage rates, and loan term of various types of mortgages you research on this page.

Following are instructions to calculate a mortgage for buying a home:

1. Subtract your estimated down payment from the price of the home you wish to buy and enter the value in "Loan Amount" (Remember that if the down payment is less than 20% of the sale price you will have the added expense of Mortgage Insurance which is not figured into this calculation.)
   
2. Estimate Annual Property Tax and Homeowners Insurance and enter these values.
   
3. Each time you change a value hit "Calculate Now" to see what the effect is. 

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Rhode Island Real Estate of Homes for Sale

Now that you understand the home buying process and have been pre-approved for a mortgage loan get started searching  Rhode Island real estate of homes for sale.

Complete the form below for direct access to the following types of Rhode Island real estate listings:

• Rhode Island Real Estate Listings and MLS
• Rhode Island HUD Homes
• Rhode Island For Sale By Owner Homes
• Rhode Island New Homes for Sale
• Rhode Island Foreclosure Homes for Sale

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