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: $95,948
3 or more in the household: $110,341
Maximum acquisition cost: $454,258

 

as of April 2, 2020 @ 10:00 a.m. Rate APR
Loans for First-Time Homebuyers
   
FHA,VA,RD Purchase Mortgage
4.125% 5.695%
FHA 203(k) Purchase Rehab Mortgage
4.375% 5.987%
Conventional Purchase Mortgage with 20% Down
3.875% 3.930%
Conventional Purchase with Mortgage Insurance
3.875% 4.314%
No Mortgage Insurance Conventional Purchase
5.625% 5.686%
     
Loans with Extra Assistance for First-Time Homebuyers
   
FHA,VA,RD Purchase Mortgage
4.125% 5.695%
FHA 203(k) Purchase Rehab Mortgage
4.375% 5.987%
Conventional Purchase with Mortgage Insurance
3.875% 4.314%
No Mortgage Insurance Conventional Purchase
5.625% 5.686%

 

No Mortgage Insurance Conventional Purchase product cannot exceed 80% of FNMA’s AMI.

TAKE THE NEXT STEP

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