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$574,500 Mortgage Calculator
13 EAST BUTTERFLY WY
Lincoln, RI / 02865
MLS# 1105080
Type: Single Family
Neighborhood: LIMEROCK
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,958 sq. ft.
Lot Size: 40,194 sq. ft.
Listed by: John Cappello Horizon Realty, LLC
Office: 401-495-4663
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$339,000 Mortgage Calculator
35 FORBES ST
Providence, RI / 02908
MLS# 1119767
Type: Single Family
Neighborhood: ELMHURST
Beds: 3 Beds
Baths: 2 Full / 2 Half
Living Area: 2,544 sq. ft.
Lot Size: 4,791 sq. ft.
Listed by: Deb Hackett RE/MAX Town & Country
Office: 401-333-0020
$299,900 Mortgage Calculator
22 WEAVER HILL RD
Coventry, RI / 02816
MLS# 1121142
Type: Single Family
Neighborhood: WESTERN COVENTRY
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,265 sq. ft.
Lot Size: 100,188 sq. ft.
Listed by: Allen Gammons BHHS Gammons Realty
Office: 401-886-6100
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$309,900 Mortgage Calculator
68 OSCEOLA AV
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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$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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$399,900 Mortgage Calculator
45 HIGHVIEW AV
Warren, RI / 02885
MLS# 1116637
Type: Single Family
Neighborhood: HIGHVIEW AVENUE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,621 sq. ft.
Lot Size: 10,045 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
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$299,000 Mortgage Calculator
253 MAIN ST
East Greenwich, RI / 02818
MLS# 1088915
Type: Commercial
Neighborhood: MAIN STREET / DOWNTOWN EG
# of Buildings: 1
Total Sq Ft: 960 sq. ft.
Building Type: Office, Retail, Commercial, Food/Beverage
Listed by: Tony Verdi COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$999,000 Mortgage Calculator
1 SPINNAKER DR
Barrington, RI / 02806
MLS# 1085582
Under Contract Status: Inspection Period
Type: Single Family
Neighborhood: NAYATT POINT
Beds: 5 Beds
Baths: 3 Full / 1 Half
Living Area: 4,300 sq. ft.
Lot Size: 40,280 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$64,900 Mortgage Calculator
0 BUENA VISTA DR
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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$174,200 Mortgage Calculator
0 BROADWAY ST
Woonsocket, RI / 02895
MLS# 1027781
Type: Vacant Land
Neighborhood: BERNON
Lot Frontage: 40 ft.
Lot Size: 400,752 sq. ft.
Lot Type: Residential
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
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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.