R.I. launches launches first-time homeownership program touting ‘affordable’ mortgage options

“RI AnchorHome” will allow families in search of a primary residence in the Ocean State to obtain 30-year fixed-rate mortgages with a starting interest rate of 3.99 percent, officials said

"A new Rhode Island homeownership pilot program will expand access to “affordable, sustainable mortgage options” for first-time buyers, state officials say.

Rhode Island General Treasurer James A. Diossa on Thursday announced the launch of “RI AnchorHome,” telling reporters the initiative will allow qualifying families in search of a primary residence in the Ocean State to obtain 30-year fixed-rate mortgages with a starting interest rate of 3.99 percent.

R.I. launches launches first-time homeownership
program touting ‘affordable’ mortgage options

The program comes as Rhode Island, like many states, has struggled to slow the rising cost of housing. In October, the median sale price of a single-family home reached $505,000, while multi-family home sales prices reached a new high of $600,000, according to data released last month by the Rhode Island Association of Realtors."

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