The Home Buyer's Korner

Information presented should be used for educational purposes only.

May 11th, 2013

Guy looking up in color

RHODE ISLAND

The Home Ownership Blog

Membership Button 3Our blog is an ongoing konversation about all things real estate. Not only can home shoppers find experienced real estate brokers and agents; mortgage lenders; general contractors and other service providers to assist with your home buying needs, our blogs helps you become a knowledgeable home buyer.

If you’re looking for great homes, take a moment to visit our member’s “Homes for Sale” boards at our “Home Buyer’s Korner” and other homes for sale resources we’ve provided to get your home shopping started right.

Today’s Rhode Island real estate market is in transition and home buyers can find a wide variety to select from. One sector that remains at the top of everyone’s list are distressed homes and short sales, which most likely are in need of repairs.

When considering purchasing a Rhode Island home we encourage you to include distressed real estate and short sales. These properties offer little known opportunities to acquire the home of your dreams. We discuss these properties in our blog and you can learn more locally by visiting our “Real Estate Broker”, “Mortgage Lender” & “General Contractor” Google Plus Communities, also located at our “Home Buyer’s Korner” to the right of our blog.

Distressed real estate and short sales are normally sold at below market value and further discounts when the property is in need of renovation. The first things that come to mind for most home buyers are:

  1. How to include “Cost of Repairs” in your mortgage & renovate after escrow closing;
  2. Defining “Required Repairs” and what are your desires;
  3. What repairs get the most bang for your buck;
  4. Locating the right team for your unique home purchasing needs.

Our blog addresses these issues and more as you engage us here and at our Google+ Communities. In doing so, you’ll become an informed home buyer and feel confident understanding relevant real estate topics such as:

  1. FHA 203K~Traditional and Streamline;
  2. Fannie Mae HomePath or HomeStyle Renovation lending;
  3. Buying a Short Sale, Distressed or Foreclosed Home
  4. Low Down Payment Options for as little as 3.5% for the home of your dreams;
  5. 100% Financing for Rural Development & Veterans Administration eligible properties;
  6. Down Payment Assistance Programs;
  7. Getting Ready for Home Ownership;
  8. And, much more!

Be sure to engage our network of real estate brokers and agents, mortgage lenders, general contractor and other service providers for all your home buying or selling needs.

Purchasing a home can be the best investment you’ll ever make, but it takes knowledge and the right team!

Buy Smart ~ Join the Konversation

START YOUR PATH TO HOME OWNERSHIP TODAY

 RHODE ISLAND HOME OWNERSHIP TOOLS

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

Fannie Mae HomeStyle

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

Fannie Mae HomePath Renovations

Rebuilding the Dream of Home Ownership

Fannie Mae HomePath has No Mortgage Insurance up to 95% LTV

Up to $35K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

Go Green with an Energy Efficient Mortgage

You’re Already Approved for Energy Efficient Improvement Funds

with Your FHA, FHA 203K, VA, USDA Rural Development or Fannie Mae Mortgage

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA Rural Development Renovation Tools

100% financing for first time and repeat home buyers

Seller may contribute up to 6% towards closing costs

Finance repairs up to the lesser of 10% of the after improved appraised value or $10,000

Share Your PowerPoint Presentations Here

What Our FHA 203K Network Members Are Blogging About

FHA, VA, USDA Rural Development, FHA 203K, Fannie Mae HomePath, HomeStyle,

Distressed Real Estate, Short Sales, Bank Owned Properties & Foreclosures

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

What Our FHA 203K Network Members Are Blogging About

FHA, VA, USDA Rural Development, FHA 203K, Fannie Mae HomePath, HomeStyle,

Distressed Real Estate, Short Sales, Bank Owned Properties & Foreclosures

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

SEE OUR PROFESSIONAL COMMUNITIES

FHA 203K Network Bloggers @ LinkedIn

Real Estate Marketing

Real Estate Agent Marketing Blogs & Coaching

Mortgage Marketing

Mortgage Marketing

Loan Officer Marketing

Loan Officer Markting Blogs & Coaching

Short Sale Marketing

Short Sale Marketing & Coaching

Distressed Real Estate Marketing

Distressed Real Estate Marketing & Coaching

General Contractor Marketing

General Contractors Renovation Network

FHA County Loan Limits for 2014

Rhode Island Counties One-Family Two-Family Three-Family Four-Family MSA
Bristol County $426,650 $546,200 $660,200 $820,500 PROVIDENCE-WARWICK, RI-MA
Kent County $426,650 $546,200 $660,200 $820,500 PROVIDENCE-WARWICK, RI-MA
Newport County $426,650 $546,200 $660,200 $820,500 PROVIDENCE-WARWICK, RI-MA
Providence County $426,650 $546,200 $660,200 $820,500 PROVIDENCE-WARWICK, RI-MA
Washington County $426,650 $546,200 $660,200 $820,500 PROVIDENCE-WARWICK, RI-MA
  Ashaway

Barrington, RI1,571

16,572 Bradford, RI1,530 Bristol, RI22,139 Burrillville16,576 Central Falls18,716 Charlestown, RI8,081 Coventry, RI34,935 Cranston80,126 Cumberland Hill7,805 Cumberland, RI34,370 East Greenwich13,337 East Providence48,570 Exeter, RI6,309 Foster, RI4,539 Glocester10,552 Greenville, RI8,700 Harrisville, RI1,574 Hope Valley1,686 Hopkinton, RI8,013 Jamestown, RI5,473 Johnston, RI28,613 Kingston, RI5,568 Lincoln, RI22,049 Little Compton3,526 Melville, RI2,206 Middletown, RI16,037 Narragansett16,492 Narragansett Pier3,753 New Shoreham1,035 Newport East11,543 Newport, RI23,467 North Kingstown26,654 North Providence32,691 North Smithfield11,545 Pascoag4,783 Pawtucket71,953 Portsmouth, RI16,892 Providence, RI171,909 Richmond, RI7,646 Scituate, RI10,853 Smithfield, RI21,205 South Kingstown29,195 Tiverton6,912 Valley Falls, RI11,699 Wakefield-Peacedale8,541 Warren, RI10,897 Warwick, RI84,760 West Greenwich6,392 West Warwick29,788 Westerly18,080 Woonsocket, RI43,372

 

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