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Cumberland, RI Mortgage Refinance in Rhode Island

We make it easy to get the lowest mortgage refinance interest rate in Cumberland, RI.

Our loan specialists can customize a loan that is perfect for your needs. In no time at all, Cumberland, RI residents can be on the way to a lower interest rate, a lower monthly payment, or switching from an adjustable rate mortgage to a fixed rate mortgage.

When Should I Refinance?

The best time to refinance is when interest rates in Cumberland, Rhode Island drop below the rate of your current mortgage.  With a lower interest rate, you'll save money on your mortgage payment every month.  Be sure to read our article titled Reasons to Refinance Now.

Turn Your Adjustable Rate into a Fixed Rate

With adjustable rates on the rise Cumberland, RI residents can benefit greatly from refinancing your home for a low fixed rate.  These benefits include a lower monthly mortgage payment, and the security of knowing your mortgage payment won't increase.

Cash-Out Refinancing

Using the equity in your home, you can refinance your mortgage for a higher amount than your current principal balance and receive the extra funds as cash.  You can use this money however you would like, including, remodeling your home, paying off high-interest rate credit cards, paying off student loans, or consolidating all your debt.  How much cash out you can receive by refinancing depends largely upon the principal balance remaining on your mortgage and the amount of equity in your home.

Eliminate PMI

Private Mortgage Insurance is usually required if your downpayment on your home was less than 20 percent.  If your home equity has increased since your purchase, you may have enough equity to elimate that PMI payment by refinancing your mortgage.

Save Thousands in Interest

When you refinance your home you can decide to switch your mortgage to a shorter term, such as 10, 15, or 20 years.  Depending on how much lower the refinance rate is, you will likely pay more per month for this shorter term home loan.  However, in the long-term you are saving thousands in interest.  And because more of your monthly mortgage payment goes towards the principal, your home equity will increase much quicker.

Mortgage Refinance Calculators

Mortgage Payment Calculator
Refinance Savings Calculator
Refinance APR Calculator
Refinance Points Calculator 

Refinance Articles

Reasons to Refinance Now
Beat the Subprime Mortgage Crisis 
Return to mortgage refinance in the state of RI

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Cumberland, Rhode Island News
Contractors are using more energy-saving materials, techniques

The developer converting a historic bank building into a hotel in downtown Providence installs thermostats in every room to detect the presence of people and raise and lower the heat in response.


At the pump: Affordable fill-ups at last

When gasoline prices spiked, Kerri Micheletti often left "Chloe" - her 2007 cherry-red Honda Civic - in the driveway, opting for pedal power instead.


Paiva Weed picks DaPonte to head Senate Finance Committee

In her first act since fellow Democrats endorsed her for Senate president, Senate Majority Leader M. Teresa Paiva Weed yesterday announced that she has chosen Sen.


Cumberland youth take on homelessness

It was the tragic death four years ago of Brad Boyle, the son of former Four Corners Community Chapel Pastor Ken Boyle, that opened the eyes of the church's young people to the homeless problem in Rhode Island.


Workers getting help after plant closes

Workers who lost their jobs when a Cumberland manufacturer closed are now eligible for additional federal assistance including job retraining and relocation help.


Seventeen adoptions are finalized in display of love, commitment

Just four months into her life, Hannah got sick and doctors suspected cancer. Her parents, Tom and Kelly Davis, of Cumberland, promised that if she made it through, they would "give back" somehow.


With eye on deficit, communities plan for lean times

As state leaders wrestle with a second-straight year of mid-term budget cuts, mayors and managers across Rhode Island are looking at everything from later bill payment schedules to union concessions to offset ...


Cumberland School Committee reorganizes

Despite a few laughs about veteran members forgetting a new member or two, the School Committee's reorganizational meeting got straight down to business Thursday.


RI teenager drowns after canoe capsizes

A canoe carrying a 17-year-old boy and his father down the Blackstone River has capsized and drowned the teenager at the Pratt Dam.


3 RI men indicted on contraband cigarette sales

The indictment accuses them of selling an agent 155 cartons of cigarettes without the proper Rhode Island state tax stamps.


Arrest in bank robberies

A 53-year-old Cumberland man was arrested yesterday and charged with the Nov. 3 robbery of the Sovereign Bank at 215 Main St.


Dining Out: Between Italy and Greece is . . . Angelo's of Cumberland

At a time when downsizing seems to be the rallying cry even as prices continue an uphill climb, Angelo's restaurant has bucked the trend, expanding to more than double its original size while keeping prices ...


Volunteers pack a touch of home for troops overseas

Staff Sgt. Stephanie Riotte received five days' notice before being deployed to Iraq in 2003.


Teen Killed In Blackstone River Canoe Accident

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Paiva-Weed secures votes for Senate presidency

State Sen. Teresa Paiva-Weed, D-Newport, has apparently secured the votes needed to become the first female president of the Rhode Island Senate.


Three people arrested in Cumberland for stolen credit card information

Three people from New York have been charged with using stolen credit card information.


Roger Williams Park Zoo just got better

The biggest animals in the Roger Williams Park Zoo have a bigger home, and the people who flock there can fill their eyes and ears with them more easily than ever.


Closely watched Council races in Cumberland

Voters this Election Day will decide the outcome of two closely watched races for seats on the Cumberland Town Council.


Major Whiting named chief in N. Providence

Although not quite a native son, after almost three decades on the Pawtucket Police Department, Major John J. Whiting feels like he's leaving home.


Real estate notes

The Rhode Island Association of Realtors Troop Support Task Force is helping to raise money for the Military Childhood Education Coalition through a gas certificate raffle.


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