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$129,900 Mortgage Calculator
56 CHESTERFIELD AV
Warwick, RI / 02889
MLS# 1070085
Type: Single Family
Neighborhood: CONIMICUT
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 890 sq. ft.
Lot Size: 9,000 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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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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$329,000 Mortgage Calculator
48 BENNINGTON RD
Cranston, RI / 02920
MLS# 1062822
Type: Single Family
Neighborhood: DEAN ESTATES
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,510 sq. ft.
Lot Size: 9,766 sq. ft.
Listed by: The Weller Team RE/MAX Central
Office: 401-823-7600
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$199,000 Mortgage Calculator
5 WAKE ROBIN RD
Lincoln, RI / 02865
MLS# 1066716
Type: Condo
Complex Name: Preserve at Wake Robin
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,333 sq. ft.
Style Type: Town House
Listed by: Millie Pereira CENTURY 21 Crossroads
Office: 401-766-7545
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$1,200,000 Mortgage Calculator
151 LATEN KNIGHT RD
Cranston, RI / 02921
MLS# 1068419
Type: Single Family
Neighborhood: WESTERN CRANSTON
Beds: 8 Beds
Baths: 6 Full / 1 Half
Living Area: 4,300 sq. ft.
Lot Size: 435,600 sq. ft.
Listed by: Jason Corsini Northeast Realty Asssociates
Office: 401-935-8082
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$524,900 Mortgage Calculator
284 LAUREL RIDGE LANE
North Kingstown, RI / 02852
MLS# 1070229
Type: Single Family
Neighborhood: MOUNTAIN LAUREL
Beds: 4 Beds
Baths: 5 Full / 0 Half
Living Area: 4,480 sq. ft.
Lot Size: 21,344 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$326,500 Mortgage Calculator
425 SOWAMS RD
Barrington, RI / 02806
MLS# 1067162
Type: Single Family
Neighborhood: SOWAMS
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 1,871 sq. ft.
Lot Size: 14,478 sq. ft.
Listed by: Laurie Fletcher Residential Properties, Ltd.
Office: 401-245-9600
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$499,000 Mortgage Calculator
253 WATERMAN ST
East Side of Prov, RI / 02906
MLS# 1066134
Type: Single Family
Neighborhood: WAYLAND SQUARE
Beds: 4 Beds
Baths: 2 Full / 2 Half
Living Area: 2,091 sq. ft.
Lot Size: 4,040 sq. ft.
Listed by: Stephanie Soscia Premier Homes Realty, LLC
Office: 401-946-6300
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$129,900 Mortgage Calculator
14 - 16 GRANITE ST
Burrillville, RI / 02830
MLS# 1067768
Type: Multi-Family
Neighborhood: HARRISVILLE
# of Units: 2
Total Beds: | Unit1(2), Unit2(3), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 2,600 sq. ft.
Listed by: Michelle Keach RE/MAX 1st Choice
Office: 401-943-6111
Photos 360 View Handicap New Construction
$855,000 Mortgage Calculator
10 - B WANDA ST
Narragansett, RI / 02882
MLS# 1040707
Type: Condo
Complex Name: Summer Winds
Beds: 3 Beds
Baths: 3 Full / 1 Half
Living Area: 2,422 sq. ft.
Style Type: Town House
Listed by: Shawna Amitrano Fiore Realty Corp.
Office: 401-792-7107
 
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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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