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$269,900 Mortgage Calculator
1155 HOPE ST
Bristol, RI / 02809
MLS# 1053655
Type: Single Family
Neighborhood: HOPE STREET
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,312 sq. ft.
Lot Size: 9,750 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 401-339-1506
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$359,000 Mortgage Calculator
1575 SOUTH RD
East Greenwich, RI / 02818
MLS# 1057968
Type: Single Family
Neighborhood: SOUTH RD
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,376 sq. ft.
Lot Size: 75,986 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$399,900 Mortgage Calculator
25 BAY LAWN AV
Warwick, RI / 02888
MLS# 1061322
Type: Single Family
Neighborhood: PAWTUXET VILLAGE
Beds: 3 Beds
Baths: 3 Full / 1 Half
Living Area: 1,890 sq. ft.
Lot Size: 7,047 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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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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$159,000 Mortgage Calculator
0 SEVEN MILE RD
Scituate, RI / 02831
MLS# 1053752
Type: Vacant Land
Neighborhood: SCITUATE/CRANSTON LINE
Lot Frontage: 170 ft.
Lot Size: 40,231 sq. ft.
Lot Type: Residential
Listed by: Brian DUPONT Real Estate Masters, Inc.
Office: 401-738-1130
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$2,795,000 Mortgage Calculator
318 RUMSTICK RD
Barrington, RI / 02806
MLS# 1060625
Type: Single Family
Neighborhood: RUMSTICK POINT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,740 sq. ft.
Lot Size: 309,157 sq. ft.
Listed by: Christina Ardente Residential Properties, Ltd.
Office: 401-245-9600
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$759,900 Mortgage Calculator
25 PHEASANT DR
East Greenwich, RI / 02818
MLS# 1064141
Type: Single Family
Neighborhood: HIGH HAWK
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,738 sq. ft.
Lot Size: 44,431 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$444,900 Mortgage Calculator
33 WHEELER LANE
Hopkinton, RI / 02832
MLS# 1052503
Type: Condo
Complex Name: RESIDENCE@FENNER HILL
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 2,800 sq. ft.
Style Type: Town House
Listed by: Nancy SICILIANO Ocean Front Homes
Office: 401-212-6262
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$4,950,000 Mortgage Calculator
85 NAYATT RD
Barrington, RI / 02806
MLS# 1040115
Type: Single Family
Neighborhood: NAYATT POINT
Beds: 7 Beds
Baths: 9 Full / 2 Half
Living Area: 13,293 sq. ft.
Lot Size: 108,920 sq. ft.
Listed by: Midge Berkery Coleman REALTORS, Inc.
Office: 401-245-3050
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$289,000 Mortgage Calculator
70 SOUTH BAY DR
Narragansett, RI / 02882
MLS# 1044542
Type: Condo
Complex Name: NORTHGATE
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,762 sq. ft.
Style Type: Town House
Listed by: Ernie ESPOSITO RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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Are You Ready to Buy?

Buying a home is considered one of the most complicated and stressful financial transactions a consumer will ever make.

One of the keys to making the homebuying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the homebuying process.

Do You Know What You Want?

Whether you are a first-time homebuyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing timeframe?

Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail when meeting with local REALTORS®.

Do You Have The Money?

Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the downpayment, commonly referred to as debt or the mortgage.) The good news is that over the years new and innovative loan programs have evolved which require a 5 percent downpayment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down.

In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs.

Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most homebuyers choose to buy with some cash up front.

As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses. Speak with local REALTORS® for details.

Is Your Financial House in Order?

Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.

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