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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 | 6.798%APR 6.831% | 0 pts$0 | $3,491/moP&I $3,491 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.915%APR 6.887% | 0 pts$0 | $3,488/moP&I $3,238 · MI $250 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.840%APR 5.885% | 0 pts$0 | $3,157/moP&I $3,157 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.531%APR 6.563% | 0 pts$0 | $3,397/moP&I $3,397 · MI $0 | See details |
| Investment Property FixedConforming | 7.473%APR 7.510% | 0 pts$0 | $3,735/moP&I $3,735 · 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 | 5.840% | 5.885% | 0 pts ($0) | $4,474/mo | $87,794 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.857% | 5.904% | 0 pts ($0) | $5,599/mo | $123,128 |
Condo 10% Down | 10% | 720 credit score | 6.985% | 7.147% | 0 pts ($0) | $4,003/mo | $139,702 |
Conventional 10% Down | 10% | 720 credit score | 6.487% | 6.638% | 0 pts ($0) | $3,804/mo | $130,662 |
Conventional 20% Down | 20% | 740 credit score | 6.798% | 6.831% | 0 pts ($0) | $3,491/mo | $107,502 |
Conventional 5% Down | 5% | 700 credit score | 6.929% | 7.401% | 0 pts ($0) | $4,202/mo | $146,389 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.225% | 7.260% | 0 pts ($0) | $4,556/mo | $156,052 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,962/mo | $134,252 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.587% | 6.954% | 0 pts ($0) | $4,142/mo | $148,625 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.531% | 6.563% | 0 pts ($0) | $4,246/mo | $142,050 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $5,525/mo | $131,735 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.915% | 6.887% | 0 pts ($0) | $3,906/mo | $136,633 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,057/mo | $142,018 |
FHA Streamline Refi | 0% | 640 credit score | 6.022% | 6.996% | 0 pts ($0) | $4,094/mo | $143,778 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.902% | 7.142% | 0 pts ($0) | $4,190/mo | $151,597 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $4,189/mo | $82,016 |
Investment Property 25% Down | 25% | 740 credit score | 7.473% | 7.510% | 0 pts ($0) | $3,502/mo | $111,004 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $3,609/mo | $112,781 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $3,893/mo | $119,378 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.263% | 7.241% | 0 pts ($0) | $4,054/mo | $143,510 |
Second Home 10% Down | 10% | 720 credit score | 5.925% | 6.494% | 0 pts ($0) | $3,584/mo | $120,478 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,522/mo | $108,890 |
VA 0% Down | 0% | 700 credit score | 5.914% | 6.153% | 0 pts ($0) | $4,063/mo | $133,471 |
VA Cash-Out Refi | 0% | 640 credit score | 5.919% | 6.281% | 0 pts ($0) | $4,065/mo | $133,574 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.929% | 6.077% | 0 pts ($0) | $4,070/mo | $133,779 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $3,684/mo | $116,561 |
Frequently Asked Questions
What are today's mortgage rates in 02877, , RI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 02877, , RI is 6.798% (with an estimated monthly payment of $4,193). Active program rates also include FHA 30-year fixed loans at 5.915% and VA 0%-down fixed loans at 5.914%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 02877, , 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 02877, , RI have fluctuated between a low of 6.417% and a high of 6.874%. 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 02877, , RI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $669,571 in 02877, , RI, a standard 20%-down Conventional loan requires an upfront cash down payment of $133,914 but keeps your monthly payment lower at $4,193/mo (at 6.798% interest) with no monthly PMI. In comparison, an FHA loan requires only $23,435 (3.5% down) but has an estimated payment of $4,691/mo (at 5.915% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $646,136 falls comfortably within the local HUD FHA loan limit of $770,007 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 02877 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 02877 is $806,501. With a typical local home value of $669,571 in , a standard 20%-down mortgage requires a loan size of $535,657. 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 02877, , RI impact estimated mortgage payments?
The median home value in 02877, , RI is estimated at $669,571. Buying a typical home here with a standard 20% down payment ($133,914) translates to an estimated starting monthly mortgage payment of $4,193 (principal and interest). Compared to the local area median household income of $146,789 ($12,232/mo), this basic housing payment represents approximately 34.3% 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.