Episode Details

Your price range in Pawtucket is not the number on your pre-approval letter. It is the number your full monthly payment supports, and this episode breaks down what actually goes into it.

In this episode:

- Why a lender approves a payment, not a purchase price

- What the rate move has done to buying power: 7.24% the week ending October 29, 2026 against 6.17% a year earlier, and what that costs a buyer in real terms

- Why you do not need 20% down, and where the big down payment actually lives

- How FHA mortgage insurance differs from conventional PMI, and why the difference is permanent

- RIHousing 15kDPA versus FirstGenHomeRI: one is a loan, one is forgivable, and only one is available through outside lenders

Read the full article in English:

https://alexparmenidez.realtor/blog/fha-loan-pawtucket-ri-monthly-payment-vs-down-payment/

Lea el articulo completo en espanol:

https://alexparmenidez.realtor/blog/prestamo-fha-pawtucket-ri-pago-mensual-vs-pago-inicial/

Alexander Parmenidez, Broker Associate, REALTOR®

Coldwell Banker Realty, licensed in Rhode Island, Massachusetts and Connecticut

Call or text: 401-426-4857

196 Waterman St, Providence, RI 02906

This episode was narrated with an AI clone of Alexander's voice.

General information, not legal, tax or financial advice. Confirm your own numbers with your lender, attorney or tax advisor. Equal Housing Opportunity.