Compare mortgage rates and fees for leading lenders in Bristol, RI. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Bristol.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Bristol. Plus, shopping lenders is free and there is no obligation.
July 6, 2020
The current average rate for a 30 year fixed rate mortgage in Bristol is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Bristol. Understand how much you need to earn to afford a home in Bristol, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bristol fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Bristol is right for you.
The median home value for Bristol, RI is $377,619
Based on current mortgage rates and a 10% down payment, you need to make $67,962 per year to buy the median priced home in Bristol
With this income, you could qualify for a $339,857 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Bristol is $1,574
The median household income for Bristol, RI is $78,708
Based on this income, you can afford a home valued at approximately $437,329
The home price you can afford to buy based on household income in Bristol is 116% of the median home value which means housing prices are average. Bristol ranks 4 out of 5 counties in Rhode Island and 2,883 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Bristol, RI is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Bristol below.
Conforming loan limits for Bristol, RI
FHA loan limits for Bristol, RI
VA loan limits for Bristol, RI