Block Island, RI FHA Loans in Rhode Island
FHA loans differ from conventional loans in a number of ways. The down payment required for an FHA-insured loan is usually much lower than for conventional loans. FHA loans also have lower credit requirements than conventional loans, making them more available to a wider range of potential homebuyers.
FHA loans offer Block Island, RI residents several other valuable benefits, not least of which is those aforementioned smaller down payments. Unlike a conventional loan, which ordinarily requires 10-20% down, FHA-insured loans only require down payments as low as 3-5%. The FHA is also more flexible in calculating factors to determine whether or not to approve the loan, factors such as household income and repayment ratios.
Return to fha loans in the state of RI
| Block Island, Rhode Island News |
In the Field: Viking bust is foolish
Rules are rules. And if you knowingly break the rules, you do so with the understanding that you could face certain consequences if you're caught.
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Walter Covell will be missed
Walter Covell, the author of the crossword puzzles that have appeared in the Block Island Times for the past two years passed away on Veterans Day, November 11.
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It's award season at the B.I. Times
Former publishers of the Block Island Times Peter and Shirley Wood established the Bayberry Wreath Award in 1984.
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Hassinger to recuse, Spring House to rectify at HDC
The Historic District Commission attempted to settle two ongoing disputes at its Monday meeting, while also hearing proposals for the "White House" on Spring Street.
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Tourism Council: holidays, bathrooms and buses
Along with scheduling an evening of holiday cheer to coincide with the annual tree lighting, members of the Tourism Council this week also made plans to address tourism concerns with the Town Council.
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School quandary: should fifth and sixth graders be on the sports circuit?
Should Block Island's fifth and sixth graders participate in athletic activities that would take them off the island on a regular basis during the school week? The issue generated a lively discussion at ...
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Group pushes BIPCo to fund island energy audits
The power company will help subsidize electric efficiency audits of island businesses if the Electric Utility Task Group gets its way.
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Of local interest
Coffee-table books of particular interest to people in our area are as numerous as ever, and some of them are quite splendid.
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Planning Board wrestles with horses
A horse is a horse of course, unless, of course, it's a commercial horse. The Planning Board struggled Wednesday to determine how to define a commercial horse versus a personal horse and whether to require ...
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Trailblazers: Elise and David Lapham
If any people can be said to have literally cut a path for Block Island residents and conservationists alike it would be Elise and David Lapham.
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Young pianists perform on the mainland
On October 30 nine talented third, fourth, and fifth grade piano students took their Halloween play, "The Witch's Magic Piano" on tour.
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Looking In, Looking Out
Clay Head's imposing bluff acts as Block Island's formal greeter when the ferry arrives from the mainland, offering its welcome in the form of 80-foot high cliffs running down to the ocean.
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Air ambulance insurance and year-round pool considered
As Block Island residents are well-aware, medical emergencies here sometimes require calling an air ambulance for transport to mainland hospitals - a pricey, if necessary, contingency.
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Wicked Cool Facts
How many miles of trails are there in Clay Head? There are approximately 12 miles of trails that comprise the system of trails that is locally known as "The Maze." Can I really get lost in "The Maze"? Most ...
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Old Harbor Task Force calls for Esta's Park designs
The Old Harbor Task Force is sponsoring a competition for the redesign and rehabilitation of Esta's Park on Water Street.
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On the Block
Donations needed Helping Hands is seeking donations of personal hygene products like toothbrushes, toothpaste, shampoo and deoderants.
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Island election turnout takes small downturn
While voter turnout in Rhode Island set a record high last week, local turnout was lower on Block Island than during the last presidential election.
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Remembering all veterans
It was a Saturday morning 17 years ago. I was sitting at a desk at the Naval War College in Newport, R.I. As a reserve officer on weekend duty, I was prepping a war game scenario that would serve as a strategic ...
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In the Field
"When the wind is in the west, 'tis of all winds the best." Yeah, right. My bass it is.
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Ball and Mort wed
Jeffrey Mort of North Smithfield, R.I., wed Jillian Ball of Moreno, Calif. on Sunday, October 19, 2008 at The Coachman in Bellingham, Mass.
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With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
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"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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