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$299,900 Mortgage Calculator
Warwick, RI / 02888
MLS# 1117478
Under Contract Status: Inspection Period
Type: Single Family
Neighborhood: GASPEE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,589 sq. ft.
Lot Size: 9,583 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$64,900 Mortgage Calculator
Johnston, RI / 02920
MLS# 1073708
Type: Vacant Land
Neighborhood: ATWOOD
Lot Frontage: 0 ft.
Lot Size: 512,701 sq. ft.
Lot Type: Residential
Listed by: Bob Medeiros Watermark Realty, LLC
Office: 401-921-5300
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$345,900 Mortgage Calculator
Coventry, RI / 02816
MLS# 1120989
Type: Single Family
Neighborhood: THE OAKS
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,799 sq. ft.
Lot Size: 21,894 sq. ft.
Listed by: Glenn Carpenter RE/MAX Professionals
Office: 401-884-6050
$577,000 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
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$219,900 Mortgage Calculator
Warwick, RI / 02886
MLS# 1123874
Type: Single Family
Neighborhood: BUTTONWOODS
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,477 sq. ft.
Lot Size: 7,500 sq. ft.
Listed by: Matthew Escaler Carrington RE Services, LLC
Office: 978-455-4922
$165,000 Mortgage Calculator
Little Compton, RI / 02837
MLS# 1097815
Type: Vacant Land
Neighborhood: COLEBROOK ROAD
Lot Frontage: 217 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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$369,000 Mortgage Calculator
Barrington, RI / 02806
MLS# 1127206 NEW
Type: Single Family
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 1,871 sq. ft.
Lot Size: 8,258 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
$174,200 Mortgage Calculator
Woonsocket, RI / 02895
MLS# 1027781
Type: Vacant Land
Neighborhood: BERNON
Lot Frontage: 40 ft.
Lot Size: 430,808 sq. ft.
Lot Type: Residential
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
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$75,000 Mortgage Calculator
1304 EDDY ST
Providence, RI / 02905
MLS# 1090329
Type: Commercial
# of Buildings: 1
Total Sq Ft: 800 sq. ft.
Building Type: Commercial
Listed by: The Sussy Deleon Team RE/MAX New Horizons
Office: 401-331-8855
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$269,900 Mortgage Calculator
Warwick, RI / 02888
MLS# 1109478
Under Contract Status: Soliciting Back-up Offers
Type: Single Family
Neighborhood: GASPEE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,812 sq. ft.
Lot Size: 4,500 sq. ft.
Listed by: Jeff St. Germain Keller Williams Realty
Office: 401-785-1700
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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.