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$309,000 Mortgage Calculator
96 KENSON DR
East Greenwich, RI / 02818
MLS# 1097871
Type: Single Family
Neighborhood: DEDFORD OFF 1ST AVE
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 1,512 sq. ft.
Lot Size: 12,552 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$519,500 Mortgage Calculator
30 S BULFINCH ST
North Attleboro, MA / 02760
MLS# 1100864
Type: Single Family
Neighborhood: WATERFRONT FALLS POND CHECK LOW TAX
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,500 sq. ft.
Lot Size: 12,682 sq. ft.
Listed by: Christy May Re/Max Real Estate Center
Office: 508-543-3922
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$114,900 Mortgage Calculator
5 BRIDGETTE LANE
Westerly, RI / 02891
MLS# 1098836
Type: Vacant Land
Neighborhood: MILL ROSE HEIGHTS
Lot Frontage: 200 ft.
Lot Size: 40,000 sq. ft.
Lot Type: Residential
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$359,000 Mortgage Calculator
119 HEMLOCK AV
Warwick, RI / 02886
MLS# 1095792
Type: Single Family
Neighborhood: OLDE BUTTONWOODS
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 1,925 sq. ft.
Lot Size: 15,000 sq. ft.
Listed by: Norman TOBIN Real Estate Masters, Inc.
Office: 401-738-1130
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$359,000 Mortgage Calculator
100 QUAKER LANE
Scituate, RI / 02857
MLS# 1099878
Type: Single Family
Neighborhood: NORTH SCITUATE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,732 sq. ft.
Lot Size: 210,168 sq. ft.
Listed by: Heather Realejo Keller Williams Realty NRI
Office: 401-333-4900
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$680,000 Mortgage Calculator
6 JAKES WY
Narragansett, RI / 02882
MLS# 1078783
Type: Condo
Complex Name: Clarke Place
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,581 sq. ft.
Style Type: Town House
Listed by: Marie Theriault RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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$279,000 Mortgage Calculator
69 SPRING AV
Barrington, RI / 02806
MLS# 1090003
Type: Single Family
Neighborhood: BAY SPRING
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,056 sq. ft.
Lot Size: 6,450 sq. ft.
Listed by: Anna Clancy Residential Properties, Ltd.
Office: 401-245-9600
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$414,900 Mortgage Calculator
68 HERITAGE DR
Portsmouth, RI / 02871
MLS# 1097438
Type: Single Family
Neighborhood: POCASSET HEIGHTS
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,430 sq. ft.
Lot Size: 16,148 sq. ft.
Listed by: Maggie Elliott BerkshireHathaway HomeServices
Office: 401-849-1800
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$535,000 Mortgage Calculator
13 TUPELO RD
Westport, MA / 02790
MLS# 1063921
Type: Single Family
Neighborhood: FOREST PARK
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 4,363 sq. ft.
Lot Size: 71,569 sq. ft.
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$469,000 Mortgage Calculator
3 LEYLAND CT
Bristol, RI / 02809
MLS# 1098446
Type: Condo
Complex Name: BRISTOL LANDING
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,690 sq. ft.
Style Type: Town House
Listed by: Terri Ferreira EAST SHORE PROPERTIES
Office: 401-683-6200
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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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