The Best Mortgage Lenders in Greenville, RI
Compare verified mortgage lenders serving Greenville, Rhode Island. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Greenville
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in Rhode Island, known for its competitive rates and digital mortgage process. They excel in customer satisfaction with numerous awards for service and efficiency, making them a reliable choice for Greenville residents seeking various loan options and personalized support.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is highly regarded for its extensive loan programs and exceptional customer service, with a local office serving the Greenville area. They have a reputation for transparency, fast closings, and tailored solutions, backed by strong community involvement and high ratings for reliability and competitive pricing.
Loan Types:
New American Funding
New American Funding
New American Funding is a respected lender with a focus on diversity and accessibility, offering innovative loan products and dedicated local support for Greenville homebuyers. They are praised for their responsive service, educational resources, and efforts to serve underserved communities, ensuring a smooth mortgage experience with competitive rates.
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Frequently Asked Questions
Common questions about mortgage lending in Greenville, RI
Are there any special first-time homebuyer programs available specifically for Greenville, RI?
Yes, Rhode Island Housing offers statewide programs like the FirstHomes 100 and FirstHomes 80 mortgages, which are accessible to Greenville buyers. These programs provide competitive interest rates, down payment assistance, and are particularly valuable given Greenville's median home prices. It's also wise to check with local lenders for any credit union or bank-specific first-time buyer incentives in the Smithfield area.
How do property taxes in Greenville, RI, impact my mortgage payments and affordability?
Greenville, as a village within Smithfield, benefits from Smithfield's property tax rate, which is historically lower than many other Providence County communities. For the 2024 fiscal year, the rate is $17.98 per $1,000 of assessed value. Your lender will calculate this into your monthly escrow payment, and the relatively moderate rate can improve overall affordability compared to neighboring cities.
What is the typical down payment needed for a condo versus a single-family home in Greenville's market?
For a single-family home in Greenville, a 10-20% down payment is common due to competitive bidding, though FHA loans with 3.5% down are possible. For condos, which are less prevalent but found in complexes like those near I-295, lenders often require a minimum of 10% down and the condo project must be on an approved FHA or conventional list, which can be a key local consideration.
Does Greenville's location in the Smithfield watershed or its rural-character areas affect the mortgage process?
It can. If a property is in a designated flood zone, which some areas near the Woonasquatucket River or conservation lands might be, your lender will require flood insurance, adding to your monthly costs. Furthermore, homes on private wells or septic systems may require additional inspections that must be satisfied prior to loan closing, which is common in Greenville's more rustic neighborhoods.
How competitive are mortgage rates from local lenders in Greenville compared to national banks?
Local credit unions, like Navigant Credit Union which has a strong presence in the area, often offer very competitive rates and personalized service for Greenville homebuyers. While national online lenders may advertise low rates, local institutions frequently have a better understanding of the Smithfield/Greenville market and can sometimes offer more flexibility on appraisals and underwriting for properties in the village.
Why Choose a Mortgage Lender in Greenville?
Local Market Knowledge
Lenders who understand Greenville'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 Greenville and get competitive rates on your home loan.