Mortgage on a $800K house in Rhode Island
$5,388 a month with 20% down — $4,305 principal and interest plus $683 property tax and $400 insurance.
Rhode Island's typical property tax is 1.02% of the home's value a year (U.S. average 0.9%), which adds $683 a month on a $800K home. The typical home in Rhode Island is worth $508,507, so $800K is 57% above the typical price.
$800K home in Rhode Island: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $160,000 | $640,000 | $4,305 | $0 | $1,083 | $5,388 | $230,900 |
| 10% down | $80,000 | $720,000 | $4,843 | $300 | $1,083 | $6,226 | $266,800 |
| 5% down | $40,000 | $760,000 | $5,113 | $317 | $1,083 | $6,512 | $279,100 |
| 3.5% down (FHA) | $28,000 | $785,510 | $5,284 | $354 | $1,083 | $6,721 | $288,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.02% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Rhode Island does $800K buy a typical home?
In these counties the typical home value is within 15% of $800K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Newport County | $787,185 | 0.89% | $5,297 |
| Washington County | $683,840 | 1% | $5,371 |
5 of 5 Rhode Island counties tracked by Zillow have a typical home value at or below $800K. See all Rhode Island home prices.
Other prices in Rhode Island
Frequently asked questions
What is the mortgage on a $800K house in Rhode Island?
About $5,388 a month with 20% down at 7.11%: $4,305 principal and interest, $683 property tax and $400 insurance.
How much do I need to make to buy a $800K house in Rhode Island?
About $230,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $800K house in Rhode Island?
At Rhode Island's typical effective rate of 1.02%, about $8,191 a year. Rates vary by county and city — see the county pages.