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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.787%APR 6.819% | 0 pts$0 | $4,978/moP&I $4,978 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.912%APR 6.884% | 0 pts$0 | $4,977/moP&I $4,621 · MI $357 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.827%APR 5.872% | 0 pts$0 | $4,500/moP&I $4,500 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.470%APR 6.501% | 0 pts$0 | $4,818/moP&I $4,818 · MI $0 | See details |
| Investment Property FixedConforming | 7.459%APR 7.496% | 0 pts$0 | $5,325/moP&I $5,325 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 5.827% | 5.872% | 0 pts ($0) | $6,381/mo | $125,036 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.851% | 5.898% | 0 pts ($0) | $7,989/mo | $175,596 |
Condo 10% Down | 10% | 720 credit score | 6.972% | 7.133% | 0 pts ($0) | $5,707/mo | $199,084 |
Conventional 10% Down | 10% | 720 credit score | 6.477% | 6.628% | 0 pts ($0) | $5,424/mo | $186,258 |
Conventional 20% Down | 20% | 740 credit score | 6.787% | 6.819% | 0 pts ($0) | $4,978/mo | $153,202 |
Conventional 5% Down | 5% | 700 credit score | 6.921% | 7.393% | 0 pts ($0) | $5,993/mo | $208,748 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.191% | 7.226% | 0 pts ($0) | $6,482/mo | $221,780 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $5,656/mo | $191,641 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.562% | 6.927% | 0 pts ($0) | $5,898/mo | $211,461 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.470% | 6.501% | 0 pts ($0) | $6,022/mo | $201,017 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $7,887/mo | $188,049 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.912% | 6.884% | 0 pts ($0) | $5,574/mo | $194,955 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $5,791/mo | $202,727 |
FHA Streamline Refi | 0% | 640 credit score | 6.019% | 6.993% | 0 pts ($0) | $5,843/mo | $205,153 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.354% | 7.603% | 0 pts ($0) | $6,258/mo | $228,776 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $5,980/mo | $117,076 |
Investment Property 25% Down | 25% | 740 credit score | 7.459% | 7.496% | 0 pts ($0) | $4,992/mo | $158,153 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $5,151/mo | $160,992 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $5,558/mo | $170,409 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.261% | 7.239% | 0 pts ($0) | $5,785/mo | $204,800 |
Second Home 10% Down | 10% | 720 credit score | 7.454% | 7.624% | 0 pts ($0) | $5,988/mo | $211,589 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $5,028/mo | $155,437 |
VA 0% Down | 0% | 700 credit score | 6.067% | 6.143% | 0 pts ($0) | $5,896/mo | $195,015 |
VA Cash-Out Refi | 0% | 640 credit score | 6.067% | 6.143% | 0 pts ($0) | $5,896/mo | $195,015 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.913% | 6.060% | 0 pts ($0) | $5,799/mo | $190,497 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $5,259/mo | $166,388 |
Frequently Asked Questions
What are today's mortgage rates in 02837, , RI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 02837, , RI is 6.787% (with an estimated monthly payment of $4,678). Active program rates also include FHA 30-year fixed loans at 5.912% and VA 0%-down fixed loans at a benchmark rate. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 02837, , 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 02837, , RI have fluctuated between a low of 6.406% and a high of 6.863%. 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 02837, , RI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $955,796 in 02837, , RI, a standard 20%-down Conventional loan requires an upfront cash down payment of $191,159 but keeps your monthly payment lower at $4,678/mo (at 6.787% interest) with no monthly PMI. In comparison, an FHA loan requires only $33,453 (3.5% down) but has an estimated payment of $4,760/mo (at 5.912% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $922,343 falls comfortably within the local HUD FHA loan limit of $1,099,165 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 02837 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 02837 is $806,501. With a typical local home value of $955,796 in , a standard 20%-down mortgage requires a loan size of $764,637. 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 02837, , RI impact estimated mortgage payments?
The median home value in 02837, , RI is estimated at $955,796. Buying a typical home here with a standard 20% down payment ($191,159) translates to an estimated starting monthly mortgage payment of $4,678 (principal and interest). Compared to the local area median household income of $134,750 ($11,229/mo), this basic housing payment represents approximately 41.7% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.