Interest Rates

When buying a home it is important to know what you are getting into. RIHousing 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.

RIHousing offers a suite of loan options specifically designed to fit the needs of homebuyers 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 without prior notice.

Income limits: Loan Center
1 or 2 person household: $97,646
3 or more in the household: $112,293
Maximum acquisition cost: $453,863

 

as of January 15, 2021 @ 10:00 a.m. Rate APR
Loans for First-Time Homebuyers
   
FHA,VA,RD Purchase Mortgage/Refinance
2.750% 4.303%
FHA 203(k) Purchase Rehab Mortgage
3.000% 4.591%
Conventional Purchase Mortgage with 20% Down*
3.125% 3.178%
Conventional Purchase with Mortgage Insurance*
3.125% 3.533%
     
Loans with Extra Assistance for First-Time Homebuyers
   
FHA,VA,RD Purchase Mortgage/Refinance
2.750% 4.303%
FHA 203(k) Purchase Rehab Mortgage
3.000% 4.591%
Conventional Purchase with Mortgage Insurance
3.125% 3.533%

 

 *Higher interest rates and/or points may apply in
transactions where borrower(s) exceed 80% of Fannie Mae’s Area Median Income. 

TAKE THE NEXT STEP

Contact the RIHousing Loan Center or Participating Lender to explore your options and determine which loan best fits your needs.