The Best Mortgage Lenders in Warren, RI
Compare verified mortgage lenders serving Warren, Rhode Island. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Warren
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 efficient online application process. With over two decades of experience, they excel in customer satisfaction, offering a wide range of loan products and personalized service. Their Providence office serves Warren residents with expertise in both purchase and refinance mortgages, backed by high customer ratings for transparency and reliability.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly regarded lender with a local branch in Warwick that actively serves the Warren area. They are praised for their extensive loan options and dedicated customer support, particularly for first-time homebuyers and VA loans. With over 20 years in business, they have built a reputation for smooth closings and competitive rates, supported by numerous positive reviews highlighting their responsiveness and local market knowledge.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a trusted lender with a strong community focus and a Providence office that extends services to Warren homebuyers. They are known for their quick loan processing and commitment to local relationships, offering a variety of mortgage products tailored to individual needs. Founded in 2008, they have garnered high customer satisfaction ratings for their integrity and support throughout the homebuying process, making them a reliable choice in the Rhode Island market.
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Frequently Asked Questions
Common questions about mortgage lending in Warren, RI
Are there any special first-time homebuyer programs available specifically for Warren, RI?
Yes, the Rhode Island Housing's FirstHomes program is a key resource for Warren buyers, offering competitive interest rates, down payment assistance, and mortgage credit certificates. Additionally, Warren's location in Bristol County may make you eligible for certain local grants or soft-second mortgage programs aimed at promoting homeownership in the area, which a local mortgage lender can help you identify.
How does Warren's location in a coastal flood zone affect the mortgage process?
Due to Warren's extensive coastline along the Warren River and Narragansett Bay, lenders will require a flood elevation certificate and mandate flood insurance for properties in designated Special Flood Hazard Areas (SFHAs). This is a non-negotiable part of the loan process and can add a significant, recurring cost to your monthly housing expenses, so factoring this in early is crucial.
What are typical down payment requirements for mortgages on Warren's historic homes?
Warren's charming historic district features many older homes, which can sometimes require a higher down payment. While standard loans may require as little as 3-5%, lenders might require 10-20% down or specific renovation loans (like the FHA 203(k)) if an appraisal flags major repair issues common in older properties, such as outdated electrical systems or foundations.
Are mortgage rates in Warren, RI, different from the national average?
Mortgage rates in Warren are generally aligned with national averages, as they are set by broader financial markets. However, your final rate can be influenced by local factors like property type (e.g., a single-family home vs. a multi-family in the downtown area) and your chosen lender's access to state-specific programs like those from Rhode Island Housing, which often offer below-market rates.
What should I know about property taxes and insurance when calculating my mortgage payment in Warren?
Warren has its own property tax rate (currently among the lower rates in Bristol County), which will be included in your monthly escrow payment. Furthermore, due to its coastal New England location, you should budget for higher-than-average homeowners insurance premiums to cover potential storm and wind damage, which lenders will also require to be escrowed.
Why Choose a Mortgage Lender in Warren?
Local Market Knowledge
Lenders who understand Warren'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 Warren and get competitive rates on your home loan.