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.
December 12, 2019
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%
The median home value for Bristol, RI is $353,246
The median household income for Bristol, RI is $76,912
Based on current mortgage rates and a 10% down payment, you need to make $65,538 per year to buy the median priced home in Bristol
The home price you can afford to buy based on household income in Bristol is 117% of the median home value which means housing prices are average
Bristol ranks 3 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
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index