The Best Mortgage Lenders in Greene, RI
Compare verified mortgage lenders serving Greene, Rhode Island. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Greene
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly regarded mortgage lender with a strong local presence in Rhode Island, known for its competitive rates and efficient online platform. They consistently receive top marks for customer service, with numerous reviews praising their responsiveness and expertise in handling various loan types. Serving Greene and the broader RI area, they offer a seamless digital experience combined with personalized support from local loan officers.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage has earned a reputation for exceptional customer care and flexibility in mortgage solutions, with a dedicated team in Warwick that serves Greene and surrounding communities. They are praised for their thorough guidance through the homebuying process, competitive rates, and expertise in first-time homebuyer programs. Their high review ratings reflect consistent satisfaction and reliability.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is celebrated for its community-oriented approach and fast, reliable service, with a strong foothold in Rhode Island including Greene. They focus on building long-term relationships and offer a wide array of loan products with transparent terms. Customers frequently highlight their efficient processing and supportive staff, contributing to their high customer satisfaction scores.
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Frequently Asked Questions
Common questions about mortgage lending in Greene, RI
What are the typical down payment requirements for homes in Greene, RI, given its rural character?
For most conventional loans in Greene, a 20% down payment is standard to avoid private mortgage insurance (PMI). However, due to the area's eligibility for USDA loans, qualified buyers in this rural community can purchase with 0% down. FHA loans are also common, requiring as little as 3.5% down, which is helpful given the mix of older and newer properties in the area.
Are there any first-time homebuyer programs specific to Rhode Island that I can use in Greene?
Yes, the Rhode Island Housing's FirstHomes program is a key resource for Greene buyers. This program offers competitive fixed-rate mortgages, down payment assistance in the form of a second mortgage, and grants for closing costs. Eligibility is based on income and purchase price limits, which are favorable for Greene's market compared to more urban parts of the state.
How does Greene's location in Kent County and its rural setting affect property taxes and insurance costs I need to factor into my mortgage?
Greene's property taxes are governed by the Town of Coventry, which has a distinct tax rate. While generally lower than in Providence County, taxes can vary based on the property's assessed value. Furthermore, due to the wooded, rural landscape, lenders may require or recommend additional escrow for hazard insurance to cover risks like fallen trees, which can slightly increase your monthly mortgage payment.
What type of property appraisals are common for Greene's mix of land and homes, and could this affect my loan?
Appraisals in Greene often require a "rural" or "land-heavy" appraisal approach. Appraisers must carefully compare sales of properties with similar acreage and outbuildings, which can be less frequent than in suburban tracts. This process can sometimes lead to valuation challenges, so working with a lender experienced in rural Rhode Island properties is crucial to ensure a smooth transaction.
Are mortgage rates in Greene, RI, different from the rest of the state, and what local lenders are familiar with the area?
Mortgage rates are generally set by national markets, so they don't vary by town. However, your final rate will depend on your financial profile and the property. For local expertise, consider lenders like Washington Trust, People's Credit Union, or Rhode Island Housing-approved lenders who are familiar with Coventry/Greene's market dynamics, well and septic systems, and can efficiently process USDA loans commonly used here.
Why Choose a Mortgage Lender in Greene?
Local Market Knowledge
Lenders who understand Greene's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Rhode Island.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Greene and get competitive rates on your home loan.