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$250,000 Mortgage Calculator
433 WEST MAIN RD
Little Compton, RI / 02837
MLS# 1093758
Type: Vacant Land
Neighborhood: WEST MAIN RD / COMMONS
Lot Frontage: 0 ft.
Lot Size: 24,000 sq. ft.
Lot Type: Residential, Agriculture
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$679,000 Mortgage Calculator
24 LANTERN LANE
Barrington, RI / 02806
MLS# 1098822
Type: Single Family
Neighborhood: RUMSTICK VILLAGE
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,934 sq. ft.
Lot Size: 14,400 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$649,900 Mortgage Calculator
16 ELIZABETH DR
Lincoln, RI / 02865
MLS# 1110872
Type: Single Family
Neighborhood: BIRCHWOOD ESTATES / OLD RIVER ROAD
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 4,452 sq. ft.
Lot Size: 28,880 sq. ft.
Listed by: Howie Julian SHAWOMET REALTY COMPANY
Office: 401-823-8886
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$1,469,000 Mortgage Calculator
0 LOT 32 LENIHAN LANE
East Greenwich, RI / 02818
MLS# 1096364
Type: Single Family
Neighborhood: THE WOODS ON MIDDLE
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 5,000 sq. ft.
Lot Size: 428,325 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$865,000 Mortgage Calculator
135 GRANITE DR
East Greenwich, RI / 02818
MLS# 1083099
Type: Single Family
Neighborhood: STONE RIDGE
Beds: 4 Beds
Baths: 4 Full / 1 Half
Living Area: 4,650 sq. ft.
Lot Size: 45,237 sq. ft.
Listed by: Sophia Karvunis PHIPPS REALTY
Office: 401-884-1030
Photos 360 View New Construction
$599,000 Mortgage Calculator
0 - LOT26 BLACKSBURT CT
North Kingstown, RI / 02852
MLS# 1091627
Type: Single Family
Neighborhood: SLOCUM WOODS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,004 sq. ft.
Lot Size: 30,826 sq. ft.
Listed by: Chris Fascione RE/MAX Professionals
Office: 401-884-6050
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$474,900 Mortgage Calculator
35 MEYERS CT
Warwick, RI / 02889
MLS# 1113620
Type: Single Family
Neighborhood: WARWICK NECK
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,376 sq. ft.
Lot Size: 46,609 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$359,000 Mortgage Calculator
42 ANTHONY RD
Foster, RI / 02825
MLS# 1115960
Type: Single Family
Neighborhood: FOSTER
Beds: 5 Beds
Baths: 3 Full / 1 Half
Living Area: 5,678 sq. ft.
Lot Size: 609,840 sq. ft.
Listed by: Mary Iacono COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$229,000 Mortgage Calculator
83 LOOKOUT AV
Johnston, RI / 02919
MLS# 1099317
Type: Single Family
Neighborhood: CENTRAL JOHNSTON
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,721 sq. ft.
Lot Size: 8,276 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$95,000 Mortgage Calculator
32 PLEASANT VIEW DR
Little Compton, RI / 02837
MLS# 1057660
Type: Vacant Land
Neighborhood: SOUTH SHORE BEACH AREA
Lot Frontage: 388 ft.
Lot Size: 87,120 sq. ft.
Lot Type: Residential
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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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.