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.