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$199,900 Mortgage Calculator
Cumberland, RI / 02864
MLS# 1098988
Type: Single Family
Neighborhood: HIGH ST
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,425 sq. ft.
Lot Size: 5,227 sq. ft.
Listed by: Trish Marrapese MGM Realty Corporation
Office: 401-723-6461
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$445,000 Mortgage Calculator
Tiverton, RI / 02878
MLS# 1092344
Type: Single Family
Neighborhood: NANAQUAKET
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,000 sq. ft.
Lot Size: 57,499 sq. ft.
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$655,000 Mortgage Calculator
Narragansett, RI / 02882
MLS# 1095767
Type: Single Family
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 2,848 sq. ft.
Lot Size: 17,860 sq. ft.
Office: 401-789-2255
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$799,000 Mortgage Calculator
1200 HOPE ST
Bristol, RI / 02809
MLS# 1069726
Type: Single Family
Neighborhood: ROCKWELL
Beds: 5 Beds
Baths: 0 Full / 0 Half
Living Area: 5,300 sq. ft.
Lot Size: 52,272 sq. ft.
Listed by: Dory Skemp Coldwell Banker Res. Brokerage
Office: 401-247-0202
$129,900 Mortgage Calculator
Cranston, RI / 02920
MLS# 1091735
Type: Multi-Family
Neighborhood: ARLINGTON
# of Units: 2
Total Beds: | Unit1(2), Unit2(1), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 1,716 sq. ft.
Listed by: ZRG Sales & Purchasing Division Zen Real Estate Group
Office: 401-270-1251
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$249,000 Mortgage Calculator
Portsmouth, RI / 02871
MLS# 1091521
Type: Vacant Land
Neighborhood: RIVER HYLANDS
Lot Frontage: 183 ft.
Lot Size: 37,026 sq. ft.
Lot Type: Residential
Listed by: Cathy Wicks Hogan Associates
Office: 401-680-6588
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$669,000 Mortgage Calculator
East Greenwich, RI / 02818
MLS# 1096342
Type: Single Family
Neighborhood: SIGNAL RIDGE
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 4,345 sq. ft.
Lot Size: 57,499 sq. ft.
Listed by: Susan Clough COLEMAN, REALTORS
Office: 401-884-5522
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$4,450,000 Mortgage Calculator
Bristol, RI / 02809
MLS# 1090323
Type: Single Family
Neighborhood: POPPASQUASH
Beds: 4 Beds
Baths: 4 Full / 1 Half
Living Area: 5,580 sq. ft.
Lot Size: 268,765 sq. ft.
Listed by: Patricia Orsi Mansions & Manors
Office: 401-423-7000
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$519,500 Mortgage Calculator
North Attleboro, MA / 02760
MLS# 1100864 NEW
Type: Single Family
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,500 sq. ft.
Lot Size: 12,682 sq. ft.
Listed by: Christy May Re/Max Real Estate Center
Office: 508-543-3922
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$154,900 Mortgage Calculator
Warwick, RI / 02889
MLS# 1075423
Type: Condo
Complex Name: EAGLES NEST
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,218 sq. ft.
Style Type: Town House
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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Pre-Qualifying Helps Determine How Much You Can Afford

Before you start your house hunting in earnest, the real estate professional with whom you are working likely will "pre-qualify" you to determine a price range you can afford. According to the Rhode Island Association of REALTORS®, pre-qualification is a necessary part of the home buying process that helps save time and money.

Don't be shy or withhold information about your income or credit status. Your REALTOR® isn't trying to pry. Rather, he or she must know all details related to your ability to obtain a mortgage.

By candidly discussing your financial situation, you'll give the agent the necessary information to show you homes you can afford. If you don't open up, you are placing the real estate professional in the role of a tour guide, not someone who can help you find a home within your budget. You'll wind up wasting your time as well as the seller's.

Once you have signed a contract to purchase a home, you must choose a lending institution or mortgage company from which to obtain your home loan. Your loan application will request financial data including your place of employment, assets, and liabilities (including recurring debts such as credit card bills and car payments). Here are two important tips on loan qualification from the Rhode Island Association of REALTORS®.

  1. Do not borrow the down payment without disclosing the loan, submit fake letters-of-credit or gift letters, or make secret financial arrangements.
  2. Accurately list your income and assets, all debts and the approximate amounts you owe.

You'll most likely be charged a credit report fee by the lender, which will cover the cost of having your credit history examined. Credit reporting agencies compile credit reports on consumers, including bill payment history, as well as whether you have been sued or filed for bankruptcy among other information.

Federal credit reporting laws do not give you the right to inspect the actual credit report at the reporting agency or to receive an exact duplicate of the report. But, you are entitled to a summary containing the sources of the report's information.

If your ability to obtain a mortgage is adversely affected by the credit report, you have the right to challenge its accuracy and seek corrections.

The credit report is part of the information the lender uses to determine if you qualify for a loan. It is not a mechanism to prevent you from buying. Remember, lenders want to make loans, not turn them down.

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