FHA Loans in Rhode Island
FHA Loans have been helping Rhode Island residents since 1934.
A Rhode Island FHA Loan is now the most popular loan for First Time Home Buyers.
Rhode Island Purchase Programs
First Time Home Buyer Programs
FHA First Time Home Buyer (FTHB) Programs: This FHA loan program was created to help increase homeownership. The FHA program makes buying a home easier and less expensive than any other types of real estate mortgage home loan programs...read more
Buying a 'Fixer-Upper' (203kb Loan)
FHA Buying a ‘Fixer-Upper’ Home (FHA 203k) Programs The Section 203(k) program is the Department’s primary program for the rehabilitation and repair of single family properties. The FHA 203K program allows borrowers to add funds to a new FHA Purchase Mortgage. ..read more
Buying a Home with Help from a Family Member
When buying a home, almost every lender will want to know where your down payment came from. If someone in your family is helping you with that down payment, it is called a Gift of Equity, a special FHA loan program.
Buying a Multi-Family Home
FHA multifamily loans (originated by an FHA approved lender) is for the purchase, rehabilitation, and even the construction of apartments.
Buying a Manufactured Home
Title I Mobile Home Loan may be used for the purchase or refinancing of a manufactured home, a developed lot on which to place a manufactured home, or a manufactured home and lot in combination.
Rhode Island Refinance Programs
Refinance with Cash Out
Most people have some money tied up in the equity of their home. To get access to this money you can refinance your home to 85 percent of it’s value.
Refinance for Home Improvements
The FHA 203(k) program is the FHA’s program for the rehabilitation and repair of single family properties. It is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities.
Simple Refinance
Every day, all across the country, homeowners apply for and receive FHA Debt Consolidation Loans lets the borrower to repay all the current loans and debts. FHA Debt Consolidation Loans have a lower interest rate than credit cards, especially if the borrower is already behind on payments. This results in a smaller monthly payment
Streamline Refinance
FHA Streamline Refinance refers only to the amount of documentation and underwriting that an FHA Lender must perform. Borrowers may even elect to not provide income and credit documentation
Rhode Island Reverse Mortgage Programs
FHA Reverse Mortgage
Many older Americans need greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more. One of the nations fastest growing solutions is a Reverse Mortgage.
FHA First Time Home Buyer
This FHA loan program was created to help increase homeownership. The FHA program makes buying a home easier and less expensive than any other types of real estate mortgage home loan programs.
FHA Home Renovation (203k)
An FHA Section 203(k) Loan covers mortgages for Purchase or Refinancing for Rehabilitation of a home that is at least a year old. A portion of the loan proceeds are used to pay the seller, or, if a refinance, to pay off the existing mortgage, and the remaining funds are placed in an escrow account and released when the rehabilitation is completed.
RI Extra Assistance Program
The RIHousing’s Extra Assistance program provides down payment assistance to eligible first-time homebuyers in Rhode Island. The program is designed to help homebuyers with what is often the biggest hurdle to homeownership: the down payment.
