Compare mortgage rates and fees for leading lenders in South Kingstown, 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 South Kingstown.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in South Kingstown. Plus, shopping lenders is free and there is no obligation.
December 10, 2019
The current average rate for a 30 year fixed rate mortgage in South Kingstown 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 South Kingstown, RI (Washington County) is $351,279
The median household income for South Kingstown, RI (Washington County) is $80,242
Based on current mortgage rates and a 10% down payment, you need to make $65,173 per year to buy the median priced home in South Kingstown
The home price you can afford to buy based on household income in South Kingstown is 123% of the median home value which means housing prices are average
South Kingstown (Washington County) ranks 2 out of 5 counties in Rhode Island and 2,847 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in South Kingstown, RI is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for South Kingstown (Washington County) below.
Conforming loan limits for South Kingstown, RI
FHA loan limits for South Kingstown, RI
VA loan limits for South Kingstown, RI
Learn what price home you can afford to buy in South Kingstown
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