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Safe Rate LocalZIP Code 02823 index·Updated August 16, 2026

Mortgage Rates in ZIP Code 02823

6.855%Rate
6.890%APR
$2,761monthly mortgage payment
$0points (0 pts)
Loan Amount $421,221; and Downpayment $105,305
Local Fast Facts
ZIP 02823
Typical Home Value
$526,526
YoY Appreciation
+22.3%
Area Median Income
$131,215
Estimated Property Taxes
$4,982/yr
Est. Property Tax Rate
0.95%
Conforming Loan Limit (1-unit)
$806,501
FHA Loan Limit (1-unit)
$541,287
Jumbo Threshold (1-unit)
> $806,501
Average Loan to Value
75.7%

Select your Scenario

Selected
Traditional (20% Down)6.855% Rate

Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.

Payment$2,761/mo
Down Payment$105,305
Loan Amount$421,221
Lower Down Payment5.987% Rate

Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.

Payment$3,332/mo
Down Payment$18,428
Loan Amount$516,989
Select Scenario
Refinance6.894% Rate

Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.

Payment$3,466/mo
Down Payment$0
Loan Amount$526,526
Select Scenario
Veteran5.984% Rate

Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.

Payment$3,219/mo
Down Payment$0
Loan Amount$537,846
Select Scenario
Faster Payoff5.921% Rate

Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.

Payment$3,537/mo
Down Payment$105,305
Loan Amount$421,221
Select Scenario
Investor7.557% Rate

Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.

Payment$2,777/mo
Down Payment$131,632
Loan Amount$394,895
Select Scenario

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Current Local Mortgage Rates

Sorted by lowest conforming purchase rate

Updated: Daily
Conventional 30-Yr FixedConforming
6.855%APR 6.890%
Est. Payment$2,761/mo
Points0 pts
3-Yr Cost*$85,261
P&I $2,761 · MI $0
See details
FHA 30-Yr FixedConforming
5.987%APR 6.755%
Est. Payment$2,762/mo
Points0 pts
3-Yr Cost*$89,983
P&I $2,566 · MI $196
See details
VA 30-Yr Fixed Doesn't Apply

Requires veteran or military eligibility

Jumbo 30-Yr Fixed Doesn't Apply

Loan amount is under conforming limits

15-Year Conforming FixedConforming
5.921%APR 5.970%
Est. Payment$2,504/mo
Points0 pts
3-Yr Cost*$73,421
P&I $2,504 · MI $0
See details
Refinance 30-Yr FixedConforming
6.894%APR 6.929%
Est. Payment$2,772/mo
Points0 pts
3-Yr Cost*$85,756
P&I $2,772 · MI $0
See details
Investment Property FixedConforming
7.557%APR 7.597%
Est. Payment$2,962/mo
Points0 pts
3-Yr Cost*$94,175
P&I $2,962 · MI $0
See details
* 3-Yr Cost captures the true wholesale transaction friction: cumulative 36-month interest + upfront government fees + ongoing monthly PMI/MIP. Scenarios can be customized on any program page.

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Frequently Asked Questions

What are today's mortgage rates in 02823, , RI across different loan programs?

Today's benchmark conventional 30-year fixed mortgage rate in 02823, , RI is 6.855% (with an estimated monthly payment of $2,783). Active program rates also include FHA 30-year fixed loans at 5.987% and VA 0%-down fixed loans at 5.984%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.

What is the recent mortgage rate trend in 02823, , RI?

Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 02823, , RI have fluctuated between a low of 6.476% and a high of 6.936%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.

Is an FHA or Conventional loan more cost-effective in 02823, , RI?

Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $526,526 in 02823, , RI, a standard 20%-down Conventional loan requires an upfront cash down payment of $105,305 but keeps your monthly payment lower at $2,783/mo (at 6.855% interest) with no monthly PMI. In comparison, an FHA loan requires only $18,428 (3.5% down) but has an estimated payment of $3,119/mo (at 5.987% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $508,098 falls comfortably within the local HUD FHA loan limit of $541,287 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.

What is the maximum conforming loan limit in 02823 before needing a Jumbo loan?

The 2025 conforming conventional loan limit for a 1-unit property in 02823 is $806,501. With a typical local home value of $526,526 in , a standard 20%-down mortgage requires a loan size of $421,221. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.

How does the median home value in 02823, , RI impact estimated mortgage payments?

The median home value in 02823, , RI is estimated at $526,526. Buying a typical home here with a standard 20% down payment ($105,305) translates to an estimated starting monthly mortgage payment of $2,783 (principal and interest). Compared to the local area median household income of $131,215 ($10,935/mo), this basic housing payment represents approximately 25.5% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.