Mary Kamelle

How to use a bridge loan to buy a home A bridge loan is a financing option that allows you to use the equity of your current Rhode Island home as a source of funding for a new home. A bridge loan is a short-term loan used as a financial bridge between selling your current home and purchasing a new one. Bridge loans …

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What are the differences? The best way to understand the differences is first to understand what each loan is all about. The homebuyer's personal situation determines which option works best to purchase or refinance a home. Fixed-rate mortgage A fixed-rate mortgage is a home loan with an unchanging interest rate for …

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What is a renovation home loan? If you can’t find the perfect Rhode Island home, you can create it with a renovation home mortgage! With housing supply inventory at an all-time low and existing home prices rising, homeowners have been renovating like never before. A Fannie Mae HomeStyle Renovation mortgage can get you …

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What is Down Payment Assistance? Of the many steps to homeownership, the one that is often the most difficult for credit-worthy first-time homebuyers is coming up with funds for a down payment and closing costs. For example, borrowers with high student loan payments or low to middle income may not have extra cash to …

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As of March 5, 2024, the RIHousings 17.5K Statewide DPA program is closed to new applications. The success of this program is evidenced by the fact that these funds were depleted in less than two months. Not to fear though, the RI Housing's 15K DPA program is available. RI Housing's 15K DPA provides $15,000 in …

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Don't hibernate on real estate this winter Many people believe spring is the best time to buy a home, but winter is a great time to make a purchase, especially in Rhode Island. While the weather may not be as inviting, there are several advantages to buying a home during the winter months. Buying a home during winter …

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