Zero-down USDA Guaranteed Loans are the most popular rural development mortgage program in Rhode Island. These loans are available for anyone with low to moderate income to purchase a home in approved rural areas with no down payment. Other USDA loan limits and resources can be viewed here:
USDA doesn’t set specific maximum loan limits for guaranteed mortgages. Instead, local limits are determined by a combination of the area USDA maximum income limit and the borrowers debt-to-income ratio. This approach means that guaranteed maximum USDA loan limits are fluid and based upon numerous factors, unlike low-income USDA Direct Loans, which have set maximum limits. The figures listed below are based on approximate calculations. Actual guaranteed maximum loan limits may vary.
Rhode Island USDA Loan Limits – Guaranteed Loans
1-4 Person Households
5-8 Person Households
|Newport-Middleton-Portsmouth, RI HUD Metro FMR Area||$374,000||$483,000|
|Providence-Fall River, RI-MA HUD Metro FMR Area||$323,000||$417,000|
|Westerly-Hopkinton-New Shoreham, RI HUD Metro FMR Area||$340,000||$431,000|