This week’s Lowest Mortgage Rates in Rhode Island
We’ve scoured the rate pages of dozens of banks and credit unions to find you this week’s lowest mortgage and refinance rates available to residents of the state of Rhode Island. The institution offering the best rates is a not for profit credit union called People’s Credit Union out of Newport, RI. They have a 5/1 ARM going for 3.34% APR as well as a 15 year fixed rate mortgage going for 3.91% APR. Keep in mind that credit unions can typically offer better home loan rates than banks can because they are not for profit, member owned institutions that pass their profits on to their members in the form of lower mortgage rates and/or higher savings rates. They are also more difficult to join than banks and typically require that you work for one of their selected employers, live within their geographic boundaries or are a member of some specific governmental or private organization.
If you cannot take advantage of People’s Credit Union’s mortgage rates, then here are some other noteoworthy offers for residents of Rhode Island…
Lowest Mortgage Rates in Rhode Island:
1) People’s Federal Credit Union has a 5/1 ARM going for 3.34% APR, a 15 year fixed rate mortgage going for 3.91% APR and a 30 year fixed rate mortgage going for 4.52% APR.
2) Charway Federal Credit Union (out of East Greenwich, RI) has a 15 year fixed rate mortgage going for 3.84% APR and a 30 year fixed rate mortgage going for 4.34% APR.
3) Sovereign Bank whom operates in many states in the northeast has 30 year fixed rate mortgages going for as low as 4.202% APR depending on point structure. They also have 15 year fixed rate mortgages going for as low as 3.824% APR depending on points. You can opt for between 1 and 3 points on your loan.
The above rates are time sensitive in nature, please refer to the date of this article for accuracy. If you live in Rhode Island and know of lower mortgage rates in which you’ve recently received from your local bank or credit union, please share by leaving a comment!
