Skip to content
FinanceWith Ease
Change country: United States

Choose your country

Australia Canada Ireland New Zealand United Kingdom United States

Rhode Island Mortgage Calculator

Work out your monthly mortgage payment in Rhode Island, with property tax, homeowners insurance, PMI and HOA fees.

$
$

20.0% of the price

%
More options· Taxes, insurance, PMI, HOA, extra payments
%

Per year, % of price

$

Per year

$

Per month

%

Per year, under 20% down

$

Monthly payment

$3,063.63

$364,560 loan · paid off in 30 years

Principal & interest
$2,484.47
Total interest
$529,849
What your monthly payment covers
  • Principal & interest$2,484
  • Property tax$406
  • Home insurance$173

What this means

Over 30 years you’d pay $529,849 in interest, on top of the $364,560 you borrow.

In the early years most of each payment is interest, so even a small extra payment each month cuts the total and the time it takes.

Next step

Principal and interest paid each year
$29,814$14,907$0
136912151821242730
PrincipalInterest
Spotted a mistake? Tell us

Rhode Island mortgage costs at a glance

The typical owner-occupied home in Rhode Island is worth $455,700, and its owner pays $4,886 a year in property tax: 1.07% of its value, more than the 0.89% across the US. That's the 15th highest of the 50 states and DC.

With 20% down and a 30-year loan at 7.24%, the payment on that home is about $3,064 a month: $2,484 of principal and interest, $406 of property tax and $173 of insurance. Use the calculator above to see the exact amounts for the home you’re looking at.

Sources:

Notes for Rhode Island

  • Property tax rates vary by county, city and school district, and many states lower the tax on a home you live in (a homestead exemption), so check the rate for the home you’re buying.
  • A standard homeowners policy (HO-3) in Rhode Island averaged $2,074 a year in 2022, against $1,569 across the US (the NAIC’s latest figures). Premiums have risen since, so get a quote for the home: costs depend on its value, age and area, and flood and earthquake cover are extra.
Other states (50)