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$479,999 Mortgage Calculator
39 CHERRY LANE
Tiverton, RI / 02878
MLS# 1090780
Type: Single Family
Neighborhood: CHERRY HILL
Beds: 4 Beds
Baths: 4 Full / 0 Half
Living Area: 5,920 sq. ft.
Lot Size: 31,611 sq. ft.
Listed by: Inessa Moshkina Badger Realty
Office: 401-495-4756
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$149,000 Mortgage Calculator
108 AMY HART PATH
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 Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$310,000 Mortgage Calculator
144 LINDEN DR
South Kingstown, RI / 02881
MLS# 1097332
Type: Single Family
Neighborhood: KINGSTON/URI
Beds: 4 Beds
Baths: 1 Full / 1 Half
Living Area: 2,020 sq. ft.
Lot Size: 21,165 sq. ft.
Listed by: EMPIE DAVIS Coastal Prop.South County, Inc
Office: 401-783-8808
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$189,900 Mortgage Calculator
464 HIGH ST
Cumberland, RI / 02864
MLS# 1098988
Type: Single Family
Neighborhood: HIGH ST
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,425 sq. ft.
Lot Size: 5,227 sq. ft.
Listed by: Trish Marrapese MGM Realty Corporation
Office: 401-723-6461
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$895,000 Mortgage Calculator
250 WEST MAIN RD
Little Compton, RI / 02837
MLS# 1097130
Type: Single Family
Neighborhood: WEST MAIN ROAD
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,411 sq. ft.
Lot Size: 40,000 sq. ft.
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$599,000 Mortgage Calculator
0 - LOT26 BLACKSBURT CT
North Kingstown, RI / 02852
MLS# 1091627
Type: Single Family
Neighborhood: SLOCUM WOODS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,004 sq. ft.
Lot Size: 30,826 sq. ft.
Listed by: Chris Fascione RE/MAX Professionals
Office: 401-884-6050
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$184,900 Mortgage Calculator
139 COLONIAL AV
Cranston, RI / 02910
MLS# 1100792
Type: Single Family
Neighborhood: EDEN PARK
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,443 sq. ft.
Lot Size: 5,000 sq. ft.
Listed by: Mary Iacono COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$244,900 Mortgage Calculator
3147 FLAT RIVER RD
Coventry, RI / 02816
MLS# 1100783
Type: Single Family
Neighborhood: WESTERN COVENTRY
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,101 sq. ft.
Lot Size: 41,382 sq. ft.
Listed by: Jamie Rebello HomeSmart Professionals RE
Office: 401-921-5011
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$415,000 Mortgage Calculator
115 AMY HART PATH
Little Compton, RI / 02837
MLS# 1094330
Type: Single Family
Neighborhood: COLEBROOK
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 3,000 sq. ft.
Lot Size: 30,343 sq. ft.
Listed by: Cathy Wicks Hogan Associates
Office: 401-680-6588
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$219,000 Mortgage Calculator
7 WOODBINE ST
East Providence, RI / 02915
MLS# 1093588
Type: Single Family
Neighborhood: RIVERSIDE / MEADOWCREST
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,080 sq. ft.
Lot Size: 7,840 sq. ft.
Listed by: Nicholas Acquaviva Coldwell Banker Res. Brokerage
Office: 401-333-0010
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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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