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$239,900 Mortgage Calculator
4 DRIFTWOOD DR
Coventry, RI / 02816
MLS# 1078765
Type: Single Family
Neighborhood: HIGHWOOD ESTATES
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,960 sq. ft.
Lot Size: 20,473 sq. ft.
Listed by: Laurie Audet Keller Williams Realty
Office: 401-785-1700
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$499,000 Mortgage Calculator
18 MAPLE AV
Narragansett, RI / 02882
MLS# 1070266
Type: Single Family
Neighborhood: SAND HILL COVE
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 1,793 sq. ft.
Lot Size: 5,000 sq. ft.
Listed by: Ernie ESPOSITO RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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$347,900 Mortgage Calculator
17 LAWNDALE DR
Warwick, RI / 02818
MLS# 1072386
Type: Single Family
Neighborhood: POTOWOMUT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,168 sq. ft.
Lot Size: 12,500 sq. ft.
Listed by: Tony Verdi COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$138,900 Mortgage Calculator
35 NORFOLK ST
Cranston, RI / 02910
MLS# 1067713
Type: Single Family
Neighborhood: AUBURN
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,044 sq. ft.
Lot Size: 4,000 sq. ft.
Listed by: Wayne Farina State Properties, Inc.
Office: 401-824-4561
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$319,900 Mortgage Calculator
41 WINDWARD WALK .
North Kingstown, RI / 02852
MLS# 1079423
Type: Single Family
Neighborhood: CEDARHURST/WICKFORD
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,276 sq. ft.
Lot Size: 24,829 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$289,900 Mortgage Calculator
14 WEST GLEN LANE
West Warwick, RI / 02893
MLS# 1074881
Type: Condo
Complex Name: COTTAGES AT WEST GLEN
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,525 sq. ft.
Style Type: One Level
Listed by: Brian Dupont Real Estate Masters, Inc.
Office: 401-738-1130
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$424,900 Mortgage Calculator
891 TOWER HILL RD
North Kingstown, RI / 02852
MLS# 1071572
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 1,350 sq. ft.
Building Type: Commercial
Listed by: Debbie Grimaldi RE/MAX 1st Choice
Office: 401-943-6111
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$379,900 Mortgage Calculator
877 HARTFORD AV
Johnston, RI / 02919
MLS# 1069491
Type: Single Family
Neighborhood: WINDSOR HILLS
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 4,257 sq. ft.
Lot Size: 27,197 sq. ft.
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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$424,900 Mortgage Calculator
2 SPYGLASS CIR
Hopkinton, RI / 02832
MLS# 1058152
Type: Condo
Complex Name: RESIDENCES@FENNER HILL
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 2,800 sq. ft.
Style Type: Town House
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$239,900 Mortgage Calculator
105 SANDY LANE
Warwick, RI / 02889
MLS# 1079116
Type: Single Family
Neighborhood: SANDY LANE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,100 sq. ft.
Lot Size: 17,558 sq. ft.
Listed by: Debbie Grimaldi RE/MAX 1st Choice
Office: 401-943-6111
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Pre-Qualifying

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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