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$495,000 Mortgage Calculator
1400 HOPE ST
Bristol, RI / 02809
MLS# 1070046
Type: Single Family
Neighborhood: WEST SIDE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,860 sq. ft.
Lot Size: 46,200 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$749,900 Mortgage Calculator
62 SPARTINA COVE WY
South Kingstown, RI / 02879
MLS# 1070136
Type: Single Family
Neighborhood: SALT POND
Beds: 4 Beds
Baths: 4 Full / 0 Half
Living Area: 3,600 sq. ft.
Lot Size: 42,689 sq. ft.
Listed by: Jon George Zen Real Estate Group
Office: 401-270-1251
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$219,400 Mortgage Calculator
14 BROOKWOOD RD
Cranston, RI / 02910
MLS# 1072100
Type: Single Family
Neighborhood: FOREST HILLS
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,065 sq. ft.
Lot Size: 4,500 sq. ft.
Listed by: Jan Parrillo Parrillo Realty Group, LLC
Office: 401-228-6660
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$264,900 Mortgage Calculator
507 CLARKS ROW
Bristol, RI / 02809
MLS# 1070577
Type: Condo
Complex Name: NORTH FARM ON THE BAY
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,391 sq. ft.
Style Type: Town House
Listed by: Ray Simone Century 21 Topsail Realty
Office: 401-254-1900
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$179,900 Mortgage Calculator
29 HAYES ST
Warwick, RI / 02886
MLS# 1069957
Type: Single Family
Neighborhood: OFF BUTTONWOODS AVE
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 1,800 sq. ft.
Lot Size: 4,240 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$354,500 Mortgage Calculator
36 WILLIAMS CROSSING RD
Coventry, RI / 02827
MLS# 1068386
Type: Single Family
Neighborhood: GREENE
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 3,218 sq. ft.
Lot Size: 146,362 sq. ft.
Listed by: Raquel Storti Keller Williams Realty
Office: 401-785-1700
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$234,900 Mortgage Calculator
175 HOFFMAN AV
Cranston, RI / 02920
MLS# 1066160
Type: Condo
Complex Name: EAST BEL AIR
Beds: 2 Beds
Baths: 3 Full / 0 Half
Living Area: 1,978 sq. ft.
Style Type: One Level, High Rise
Listed by: Marilyn DePetrillo RE/MAX Professionals
Office: 401-884-6050
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$965,000 Mortgage Calculator
2 CORR WY
East Greenwich, RI / 02818
MLS# 1073189
Type: Single Family
Neighborhood: WESTWOOD FARMS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,355 sq. ft.
Lot Size: 100,624 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$159,900 Mortgage Calculator
0 SIR MICHAEL CIR
South Kingstown, RI / 02892
MLS# 955313
Type: Vacant Land
Neighborhood: WEST KINGSTON
Lot Frontage: 176 ft.
Lot Size: 40,075 sq. ft.
Lot Type: Residential
Listed by: Marc Archambault Randall Realtors Real Living
Office: 401-783-9611
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$549,900 Mortgage Calculator
2 PRIMROSE LANE
Johnston, RI / 02919
MLS# 1073167
Type: Single Family
Neighborhood: BISHOP HEIGHTS
Beds: 5 Beds
Baths: 5 Full / 1 Half
Living Area: 5,000 sq. ft.
Lot Size: 84,942 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
 
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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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