Buyer Tools

Mortgage & AffordabilityCalculator

Estimate your buying power in minutes. Adjust any input and your results update instantly.

Income & Debts

Annual Household Income

Combined gross income before taxes

Monthly Debt Payments

Car loans, student loans, credit cards, etc.

Down Payment

Down Payment Amount

≈ 13.1% of estimated purchase price

A 20% down payment avoids Private Mortgage Insurance (PMI), which adds $50–200/month to your payment. Ask our team about low-down-payment programs.

Loan Terms

Loan Term

Interest Rate

Current RI average 30yr fixed ≈ 7.25%. Rates change daily.

Taxes, Insurance & HOA

Property Tax Rate

RI statewide average ≈ 1.63%. Rates vary significantly by town.

Homeowner's Insurance

Annual premium. RI average ≈ $1,200–$1,600/yr.

$/yr

HOA Fees

Monthly. Enter $0 if no HOA.

$/mo

Rhode Island note: Property tax rates vary significantly by town — from under 1% in some communities to over 3% in others. East Greenwich ≈ 1.35%, Providence ≈ 1.98%, Cranston ≈ 1.84%, Warwick ≈ 2.06%. View RI tax rates →

Estimated Maximum Purchase Price

$304,341

Based on a 13.1% down payment and 7.25% rate

Loan Amount$264,341

Monthly Payment Breakdown

Principal & Interest

$1,803/mo

Property Tax

$413/mo

Insurance

$117/mo

Total$2,333/mo

Debt-to-Income Ratio34.0% — Excellent

0%36%43%60%+

Under 36% — most lenders consider this ideal.

Did you know? Your buyer's agent commission can often be negotiated into the purchase price — meaning it's financed as part of your mortgage, not a separate out-of-pocket expense. Talk to our team to learn how.

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Estimates use the 28/43 qualifying rule and are for informational purposes only. Actual loan approval depends on credit score, assets, employment history, and lender guidelines.