Mortgage on a $900K house in Rhode Island
$6,061 a month with 20% down — $4,843 principal and interest plus $768 property tax and $450 insurance.
Rhode Island's typical property tax is 1.02% of the home's value a year (U.S. average 0.9%), which adds $768 a month on a $900K home. The typical home in Rhode Island is worth $508,507, so $900K is 77% above the typical price.
$900K 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 | $180,000 | $720,000 | $4,843 | $0 | $1,218 | $6,061 | $259,800 |
| 10% down | $90,000 | $810,000 | $5,449 | $338 | $1,218 | $7,004 | $300,200 |
| 5% down | $45,000 | $855,000 | $5,752 | $356 | $1,218 | $7,326 | $314,000 |
| 3.5% down (FHA) | $31,500 | $883,699 | $5,945 | $398 | $1,218 | $7,561 | $324,000 |
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 $900K buy a typical home?
In these counties the typical home value is within 15% of $900K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Newport County | $787,185 | 0.89% | $5,959 |
5 of 5 Rhode Island counties tracked by Zillow have a typical home value at or below $900K. See all Rhode Island home prices.
Other prices in Rhode Island
Frequently asked questions
What is the mortgage on a $900K house in Rhode Island?
About $6,061 a month with 20% down at 7.11%: $4,843 principal and interest, $768 property tax and $450 insurance.
How much do I need to make to buy a $900K house in Rhode Island?
About $259,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $900K house in Rhode Island?
At Rhode Island's typical effective rate of 1.02%, about $9,214 a year. Rates vary by county and city — see the county pages.