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A straightforward guide to FHA loans in Rhode Island—what they are, who qualifies, and how they can help you buy your next home.
Short answer up front: There may be no actual fight between FHA vs FHA 203(b). The time period FHA 203(b) is the maximum common form of the FHA loan. In other words, while humans say FHA mortgage, they may often…
The short answer is that the USDA doesn’t publish one, nor set a minimum score. Automated approvals are most straightforward at 640. Many mortgage companies use 620-640 as their reasonable baseline. Files that fall below those thresholds usually require additional…
One of the biggest obstacles for homeowners in Rhode Island is saving enough cash to pay for a down payment. The positive side lies in the fact that, thanks to USDA loan programs for homebuyers in Rhode Island, you may…
In trying to obtain a USDA loan for Rhode Island, some buyers have to endure rejection and USDA loans get denied, often because of reasons that can be avoided. The most common reasons are property ineligibility, income limitations as well…
Short answer up front: the place where the house sits is the single most important test. If the exact parcel is inside an area that qualifies for USDA loans, you may qualify for a USDA program. However, the map is…
The short answer: the Income To Qualify for a USDA Loan in RI depends on where the home is in Rhode Island and how many people live in your household. In some RI areas, the cap for a 1–4 person…
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