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| Fixed Rate 30 year |
| Fixed Rate 15 year |
| FHA/VA loan programs |
| Adjustable Rate Mortgage |
| Rhode Island Housing Mortgage Finance Committee (RIHMFC) |
| Jumbo Loans |
Rates last updated on Friday, May 18, 2012
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Fixed Rate 30 year
Get piece of mind knowing you monthly principal and interest payments won't change over the life of your loan.
Term: 30 years
Maximum Amount: $417,000
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| Rates | APR | Points |
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| 3.625% | 3.823% | 1% |
| 3.75% | 3.907% | 0.5% |
| 3.875% | 3.991% | 0% |
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| Assumes a 20% downpayment.
If you open a 30 year fixed rate $200,000 mortgage at an APR of 3.954% you would make 360 payments of $926.23. Rates effective as of 02/06/2012 and are subject to change. Payment amounts shown do not include taxes and insurance; actual payment obligation will be higher. Rate may be different than those shown depending on loan amount, borrower credit worthiness and other factors. Please call for current information. |
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Fixed Rate 15 year
Term: 15 years
Maximum Amount: $417,000
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| Rates | APR | Points |
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| 3% | 3.35% | 1% |
| 3.125% | 3.402% | 0.5% |
| 3.25% | 3.454% | 0% |
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Assumes a 20% downpayment.
If you open a 15 year fixed rate $200,000 mortgage at an APR of 3.468% you would make 180 payments of $1,393.22. Rates effective as of 02/06/2012 and are subject to change. Payment amounts shown do not include taxes and insurance; actual payment obligation will be higher. Rate may be different than those shown depending on loan amount, borrower credit worthiness and other factors. Please call for current information. |
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FHA/VA loan programs
Qualified applicants may be eligible for a loan that requires little or no down payment. FHA (Federal Housing Administration) and VA (Veteran's Administration) loans are government-backed loan programs that offer fewer restrictions than conventional mortgages.
*Maximum loan amount quoted applied to FHA loan product only.
Term: 30 years
Maximum Amount: $475,000
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| Rates | APR | Points |
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| 3.5% | 3.655% | 0.5% |
| 3.625% | 3.74% | 0% |
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If you open a 30 year fixed $200,000 mortgage at an APR of 3.945% you would make 360 payments of $926.23 Rates effective as of 02/06/2012 and are subject to change. Payment amounts shown do not include taxes and insurance; actual payment obligation will be higher. Rate may be different than those shown depending on loan amount, borrower credit worthiness and other factors. Please call for current information. |
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Adjustable Rate Mortgage
An Adjustable rate mortgage (ARM) provides borrowers with an initial lower monthly payment. With an ARM, the interest rate changes periodically, usually in relation to an index, and payments may go up or down accordingly.
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There are a number and variety of Adjustable Rate loan programs available to borrowers. Speak to a BankRI Mortgage Specialist today to see what loan product is best for you. 401-456-5000 |
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Rhode Island Housing Mortgage Finance Committee (RIHMFC)
A Rhode Island Housing mortgage provides low cost mortgages to first time home buyers who have limited cash for down payment.
Purchase Price and Income limits are subject to change at any time.
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Speak to a BankRI Mortgage Specialist today to learn if you qualify for a Rhode Island Housing Mortgage Program. |
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Jumbo Loans
Jumbo Mortgage Programs are for loans over the industry conforming lending limit of $417,000.
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| Speak to a BankRI Mortgage Specialist about Jumbo rates and terms. |
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $200,000 with closing costs of $2,800. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $500,000 with closing costs of $10,800. Your actual APR may be different depending upon these factors.
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