Yes: in Rhode Island, mortgage loan officers need a state license issued by the Rhode Island Department of Business Regulation. You can check a name yourself on NMLS Consumer Access.
Mortgage loan officers in Rhode Island: what buyers ask
What first-time buyer programs does Rhode Island offer?
In Rhode Island, RIHousing offers three down payment programs for first-time buyers: 15kDPA, a $15,000 zero-interest loan. Extra Assistance, up to $20,000. And FirstGenHomeRI, $25,000 that is forgiven after five years. Each requires a RIHousing first mortgage and a homebuyer education course.
What does an FHA loan require?
FHA loans need 3.5% down with a 580 credit score. Upfront mortgage insurance is 1.75% and the annual premium is 0.55% at 96.5% LTV.
Check a mortgage loan officer yourself
- License required · Rhode Island Department of Business Regulation
- Titles you will see: Mortgage loan originator
- Check a name yourself: NMLS Consumer Access (we could not open this search page ourselves)
The 10 sectors of Providence
West End · Silver Lake · Wanskuck · Elmhurst · Elmwood · Mount Pleasant · College Hill · Washington Park · Hartford · Charles