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Shannock, 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 Shannock, 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.

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Shannock, Rhode Island News
URI creates growing legacy to Kathleen Mallon URI names Cooperative Extension Education Center for the late Kathleen Mallon, a community organizer from Westerly.
Dams and fish ladders The new director of the Wood Pawcatuck Watershed Association has his hands full these days.
Cleanup at old Kenyon Piece landfill starts up An estimated six-month-long cleanup is currently in full swing at the former Kenyon Piece landfill located on Sand Plain Road in Charlestown.
Shannock takes a look into the future CHARLESTOWN Some thought its heyday was a full decade before the Great Depression, when local mills were at their peak.
Rhode Island's Nuclear Fatality Part IV Who Pays? United Nuclear was welcomed into Rhode Island in 1963 with hopes of 1000 good jobs and a chance to get in on the cutting edge of a new industry.
Lawmaker leaves Senate for dairy farm Republican Kevin A. Breene of West Greenwich turns down potential seventh term to restart dairy farm.

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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.