The Best Mortgage Lenders in Kingston, RI
Compare verified mortgage lenders serving Kingston, Rhode Island. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Kingston
Featured Mortgage Lenders
Washington Trust Mortgage Department
The Washington Trust Company
As Rhode Island's oldest community bank, Washington Trust has served Southern Rhode Island communities for over two centuries with deep local market expertise. They offer highly competitive mortgage rates with personalized service through local loan officers who understand Kingston's real estate market. Their strong reputation stems from long-term relationships, flexible lending options, and commitment to the local community. Customers consistently praise their responsive communication and smooth closing process.
Loan Types:
Residential Mortgage Services
Residential Mortgage Services, Inc.
RMS is a highly-rated regional mortgage lender with extensive experience serving Rhode Island homebuyers, including Kingston residents. They are particularly noted for their exceptional customer service and competitive rates for first-time homebuyers. With local processing and underwriting, they provide faster closings and personalized attention. Their loan officers have deep knowledge of South County's housing market and consistently receive outstanding reviews for their guidance through the mortgage process.
Loan Types:
People's Credit Union Mortgage Center
People's Credit Union
People's Credit Union has been serving Rhode Island communities for over a century with multiple branches throughout Washington County. They offer competitive mortgage rates and exceptional member service, particularly valued by Kingston-area homebuyers seeking personalized attention. Their local loan officers provide comprehensive guidance through the entire homebuying process, and their not-for-profit structure often results in lower fees and better terms for qualified borrowers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Kingston, RI
Are there any special mortgage programs for first-time homebuyers in Kingston, RI?
Yes, the Rhode Island Housing's FirstHomes program is a key resource for first-time buyers in Kingston. This program offers competitive, below-market interest rates, down payment assistance, and mortgage credit certificates for federal tax savings. Given Kingston's mix of student housing and single-family homes, these programs can be particularly helpful for university staff or young professionals looking to establish roots.
How does the presence of the University of Rhode Island (URI) in Kingston affect the local mortgage and housing market?
The university creates a stable, high-demand rental market for investment properties, which can make qualifying for an investment property mortgage attractive for some buyers. However, for primary residences, competition can be stiff with faculty, staff, and graduate students, often requiring strong offers. Lenders in the area are very familiar with underwriting loans for university employees, who typically have stable employment.
What are typical property taxes like in Kingston, RI, and how do they impact mortgage affordability?
Kingston has a property tax rate set by the Town of South Kingstown, which was approximately $13.86 per $1,000 of assessed value in 2023. This is a significant factor in your total monthly payment (PITI). When getting pre-approved, lenders will calculate this into your debt-to-income ratio, and it's wise to budget for taxes that may be higher than in some other Rhode Island towns due to local services and school funding.
Are USDA rural development loans available for homes in Kingston, RI?
Yes, surprisingly, much of Kingston and the surrounding South Kingstown area is eligible for USDA Rural Development loans, which offer 100% financing with no down payment. This is a major advantage for eligible buyers, as Kingston maintains a rural designation despite being home to URI. A local mortgage lender can confirm the specific eligibility of a property using the USDA's online map.
What local closing costs or fees should I anticipate when getting a mortgage in South Kingstown/Kingston?
Beyond standard fees, you should budget for specific local costs like a municipal lien certificate (around $25), which is required to ensure no outstanding municipal charges on the property. Additionally, South Kingstown may require specific inspections, and you'll need to account for title insurance rates set by Rhode Island. Using a local attorney for the closing, a common practice in RI, is also a typical cost.
Nearby Cities
Explore mortgage lenders in cities near Kingston, RI
Why Choose a Mortgage Lender in Kingston?
Local Market Knowledge
Lenders who understand Kingston'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 Kingston and get competitive rates on your home loan.