Things to know before you buy | Rhode Island Housing Loans
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Things to know before you buy a home

Buying a home is probably the biggest financial investment that you will make in your lifetime. Being prepared and educating yourself is critical to becoming a successful homeowner. The mortgage specialists at Rhode Island Housing have compiled a list of 10 Things to Know Before You Buy a Home. This is a helpful resource for any potential homebuyer as they prepare to take the next step on the path to homeownership.

Top 10
  1. Contact RIHousing for information about our low-rate, fixed mortgages that also offer 100 percent financing.
  2. Participate in a Homebuyer Education class offered by RIHousing and its partners.
  3. Get a copy of your credit report at or by calling 877-322-8228. The website is sponsored by the nation's three major credit reporting companies: Equifax, Experian and TransUnion.
  4. Create a budget and know how much you can comfortably pay per month for your home.
  5. Get a mortgage pre-approval before you start looking for a home. This will give you a plan for how much you can afford.
  6. Shop for a home using these recommended resources: and
  7. Choose a real estate agent who makes you feel comfortable and can provide the knowledge and services you need.
  8. Take your time. Don't feel rushed.
  9. Get a home inspection. If possible, be present at the inspection. You can learn a lot and get questions answered directly from the home inspector. If necessary, choose a mortgage that provides financing for renovations.
  10. Don't sign anything you don't understand. Seek advice from a trained professional.


Take a Homebuyer Education class

Our Homebuyer Education classes are a resource to help first-time homebuyers and anyone interested in buying a home learn more about the process. We offer in-person and online classes to meet the needs of every customer. You can register online or contact us for more information. 

Contact a Mortgage Originator or Participating Lender
RIHousing’s Participating Lenders and the trusted, trained professionals in our Loan Center can help you understand what you can safely afford and the commitment you are making by becoming a homeowner.