Population
1,052,567
Average Household Income
$97,908
Doug Perry
Branch Manager
Reading, MA
Licensed In MA, RI, ME & FL
NMLS #49193
Trusted Mortgage Lender in Rhode Island
Customized home loans tailored for Rhode Island buyers, with local service and national strength.
Born in New England, Built to Serve Rhode Island
Financing a home can be an exciting experience, but at the same time, it can also be one shrouded in mystery – especially for first-time home buyers. If you’re looking for a trusted mortgage lender in Rhode Island, the dedicated financing professionals at NewFed Mortgage Corp. will be happy to assist you through every step of the process. We’ll help you find the best mortgage solution for your situation; we understand how important it is for you to feel comfortable with your home loan over the long term. As a reputable mortgage lender in Rhode Island, our top concern is our customers’ satisfaction, and we truly value the relationships we make along the way. When you work with NewFed Mortgage Corp., you can rest assured that you’ll be priority number one throughout the entire financing journey.
NewFed Mortgage Corp. provides mortgages for every stage of life, and if you’re searching for your next property in the tiny but mighty state of Rhode Island, we’re here to help get the process going. As a trusted mortgage lender in Rhode Island, we understand the unique charm and opportunities this state has to offer. Rhode Island is an attractive destination filled with possibilities. It’s home to serene beaches, exquisite cuisine, and breathtaking properties large and small. While it may be the smallest state by area in the U.S., Rhode Island is brimming with spectacular locales, including Providence, the state’s historic capital and home to the revered institutions of Brown University, Johnson & Wales University, and the Rhode Island School of Design. Providence is also known for its extraordinary seafood and Italian restaurants.
Danvers Branch
Reading Branch
North Andover Branch
Winthrop Branch
Milton Branch
Loan Officers In Rhode Island
Rhode Island at a Glance
Rhode Island Mortgage & Housing Market Insights
Median Household Income
According to the U.S. Census Bureau, the median household income in Rhode Island is $99,858. Don't let that deter you from exploring financing. We have several programs that can help you save.
Median Home Price
Zillow reports that the average home value in Rhode Island is $628,654, reflecting a 5.1% increase over the past year.
Affordability Index
Research indicates that the median household income as a percentage of home value is 15%. While this suggests that housing affordability is a significant challenge here, we can help!
Financed Property Types
The most commonly financed property types in Rhode Island continues to be single-family and multi-family homes.
Mortgage Options for Rhode Island Homebuyers
Conventional Loans
Best for people with steady income and good credit who want low-interest rates.
VA Loans
A top choice for veterans, active military, and their families to buy a home with no down payment.
USDA Loans
Best for people buying a home in the country, with no down payment and low costs.
Reverse Mortgages
A good choice for older homeowners who want to get money from their home without selling it.
Non-Conventional Loans
A good option for people who don’t qualify for regular home loans but need a special loan.
HELOC Loans
Lets homeowners use the value of their home to get money for projects or bills.
FHA Loans
A smart pick for first-time homebuyers or people with lower credit who need a small down payment.
Ask Us About MassHousing
Partnered with MassHousing, we can offer eligible homebuyers additional savings on their home purchase. Speak to one of our New Hampshire loan officers to learn more and discuss your eligibility.
Mortgage Pricing & Affordability Calculators
Crunch some numbers to see what options you may have. These calculators are a great way to start exploring your possibilities. To get a true loan estimate, reach out to one of our mortgage loan officers! We will get you pre-approved and shopping with confidence.
Five Things to Know When Starting the Homebuying Process
Just getting started on your homebuying journey? Our free guide, 5 Things to Know When Starting the Homebuying Process, is packed with expert tips to help you feel confident and prepared from day one. Learn how to get pre-approved, understand hidden costs, act fast in competitive markets, and more. Download your copy today and take the first step toward smart, stress-free homeownership with NewFed Mortgage by your side.
Why More Rhode Island Buyers Choose NewFed Mortgage
- Fast closings (39% faster than industry average)
- Local loan officers across the state
- Modern (and mobile-friendly) tech + personal support
- 20+ years of local mortgage lending
- Family-owned, Chelsea-based roots
- Named A Top Place to Work by The Boston Globe (2024)
