Rhode Island Mortgage Refinance Rates

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Loan Type	Rate	APR	Points	Est. Monthly Payment
FHA 30-Year Fixed	6.500%	7.337%	2.000	$2,250
VA 30-Year Fixed	6.375%	6.814%	2.250	$2,210
Conventional 15-Year Fixed	6.375%	6.894%	2.250	$3,024
Conventional 30-Year Fixed	6.875%	7.189%	2.125	$2,299
Jumbo 30-Year Fixed	6.875%	7.119%	2.250	$6,240

Loan Type	Rate	APR	Points	Est. Monthly Payment
FHA 30-Year Refinance	6.490%	7.403%	2.500	$2,248
VA 30-Year Refinance	6.500%	6.842%	2.375	$2,223
Conventional 15-Year Refinance	6.375%	6.970%	2.500	$3,024
Conventional 30-Year Refinance	6.990%	7.342%	2.250	$2,326
Jumbo 30-Year Refinance	6.875%	7.131%	2.300	$6,240

Loan Type	Rate	APR	Est. Monthly Payment
Fixed 20-Year HELOC	9.875%	9.875%	$956
Fixed 30-Year HELOC	10.375%	10.375%	$905

Loan Type	Rate	APR	Points	Est. Monthly Payment
Conventional 30-Year Cash-Out Refinance	7.125%	7.519%	2.500	$2,021

FHA 30-Year Fixed: Interest rate offered based on $356,125 loan amount with 7.337% APR and $2,250 monthly payment at 70% loan-to-value (LTV) and 2.000 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

VA 30-Year Fixed: Interest rate offered based on $354,375 loan amount with 6.814% APR and $2,210 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 15-Year Fixed: Interest rate offered based on $350,000 loan amount with 6.894% APR and $3,024 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 30-Year Fixed: Interest rate offered based on $350,000 loan amount with 7.189% APR and $2,299 monthly payment at 70% loan-to-value (LTV) and 2.125 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Jumbo 30-Year Fixed: Interest rate offered based on $950,001 loan amount with 7.119% APR and $6,240 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 1, 2026.

FHA 30-Year Refinance: Interest rate offered based on $356,125 loan amount with 7.403% APR and $2,248 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

VA 30-Year Refinance: Interest rate offered based on $351,750 loan amount with 6.842% APR and $2,223 monthly payment at 70% loan-to-value (LTV) and 2.375 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 15-Year Refinance: Interest rate offered based on $350,000 loan amount with 6.970% APR and $3,024 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 30-Year Refinance: Interest rate offered based on $350,000 loan amount with 7.342% APR and $2,326 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Jumbo 30-Year Refinance: Interest rate offered based on $950,001 loan amount with 7.131% APR and $6,240 monthly payment at 70% loan-to-value (LTV) and 2.300 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 1, 2026.

Fixed 20-Year HELOC: Interest rate offered based on $100,000 loan amount with 9.875% APR and $956 monthly payment at 20% loan-to-value (LTV) and 0.250 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Fixed 30-Year HELOC: Interest rate offered based on $100,000 loan amount with 10.375% APR and $905 monthly payment at 20% loan-to-value (LTV) and 0.125 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Home equity lines shown assume a 3-year draw period, a $25,000 minimum initial draw, a $99 annual fee, a $100 minimum payment. Repayment period is 204 and 324 months, following the draw period. Terms are an example only and vary by line amount, property and credit profile.

Conventional 30-Year Cash-Out Refinance: Interest rate offered based on $300,000 loan amount with 7.519% APR and $2,021 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

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Refinance Rates Trend in Rhode Island

Historical rates shown for context only. See full disclosures below and current rates in the table above. View Legal Disclosures

Rates as of November 6, 2026 · Avg Rhode Island property tax: 1.33% · Avg annual home insurance: $2,624

Today’s 30-year fixed refinance rate in Rhode Island is 6.990% (7.342% APR), and a 15-year is 6.375% (6.970% APR). On a typical $307,000 Rhode Island loan, that’s about $2,040 a month in principal and interest over 30 years or $2,653 over 15. These figures use a typical Rhode Island home price of $438,500 (the average of the median prices in its largest cities) and a loan at 70% of that value. Your numbers depend on your balance, your home’s value and your credit.

How much could you save by refinancing in Rhode Island?

Monthly savings on a $307,000 balance if you refinance into today’s 30-year fixed rate of 6.990% (7.342% APR), by the rate you have now. If your current rate is at or below about 6.990%, a rate-and-term refinance at today’s rate won’t lower your payment; a cash-out refinance or HELOC may fit better if you need cash.

Your current rate	Payment now	New payment	Monthly savings	Break-even
7.500%	$2,147	$2,040	$106	100 months
8.000%	$2,253	$2,040	$212	50 months
8.500%	$2,361	$2,040	$320	34 months

Principal and interest only, comparing 30-year payments on the same $307,000 balance. New payment at 6.990% (7.342% APR) with 2.250 discount points. Break-even divides the points and lender fees built into that APR (about $10,612 on this loan) by the monthly savings; title, appraisal and other third-party closing costs add to that (try our refinance break-even calculator with your own numbers). Restarting a 30-year term can mean more total interest even when the payment drops.

Refinance payments in Rhode Island's largest cities

Estimated monthly cost after refinancing a loan at 70% of each city’s median home price into today’s 30-year fixed rate of 6.990% (7.342% APR), with local property taxes and homeowners insurance.

City	Median price	Loan (70%)	Principal & interest	Taxes & insurance	Total monthly
Providence	$439,900	$308,000	$2,047	$686	$2,733
Warwick	$437,000	$306,000	$2,034	$727	$2,761

Principal and interest at 6.990% (7.342% APR) (30-year conforming refinance). Median prices from Movoto market trends, September 2026.

15-year vs. 30-year refinance in Rhode Island

On a typical $307,000 Rhode Island loan, a 15-year refinance costs about $613 more a month than a 30-year, but saves about $256,965 in interest over the life of the loan.

Loan term	Rate (APR)	Principal & interest	Total interest
30-year fixed	6.990% (7.342% APR)	$2,040	$427,550
15-year fixed	6.375% (6.970% APR)	$2,653	$170,585

Conforming refinance rates for Rhode Island as of November 6, 2026. Total interest assumes you keep the loan for the full term and make every scheduled payment. Taxes and insurance are the same for either term.

Refinance options in Rhode Island by loan type

The examples above assume you’re refinancing into a conventional loan. If you have an FHA or VA loan, owe more than the conforming limit, or want to take cash out, one of these options may fit better.

If you have an FHA loan

FHA streamline refinance

Refinance an existing FHA loan with limited credit documentation and often no appraisal. FHA mortgage insurance still applies.

If you have a VA loan

VA IRRRL

The VA’s Interest Rate Reduction Refinance Loan lowers your rate with less paperwork than a standard refinance, with no monthly mortgage insurance.

If you owe more than $832,750

Jumbo refinance

A balance above the county’s 2026 conforming loan limit refinances into a jumbo loan.

If you need cash

Cash-out refinance or HELOC

A cash-out refinance replaces your loan with a larger one and pays you the difference. A HELOC lets you borrow against your equity and keep your current rate.

Rhode Island refinance programs

RIHousing offers refinance loans for Rhode Island homeowners who want to lower their monthly payment, with financing up to 97% of the home’s value through its Participating Lenders or its own Loan Center. It also offers an FHA 203(k) rehab refinance that rolls the cost of repairs and improvements into a single new mortgage. See RIHousing refinance details.

Rhode Island refinance FAQs

What are refinance rates in Rhode Island today?

As of November 6, 2026, Lower’s 30-year fixed refinance rate in Rhode Island is 6.990% (7.342% APR) and the 15-year is 6.375% (6.970% APR). FHA refinances start at 6.490% (7.403% APR) and VA refinances at 6.500% (6.842% APR). Your rate depends on your credit, equity, loan amount and points.

When does refinancing make sense in Rhode Island?

When the monthly savings pay back your closing costs before you sell or refinance again. On a typical $307,000 Rhode Island loan, going from 8.000% to today’s 6.990% (7.342% APR) saves about $212 a month, and the points and lender fees in today’s quote (about $10,612) take about 50 months to recover. Compare the new term too: restarting at 30 years can add interest even when the payment drops.

Does RIHousing offer a refinance program?

Yes. RIHousing offers refinance loans with financing up to 97% of the home’s value, plus an FHA 203(k) rehab refinance that combines your mortgage and repair costs into one loan, available through Participating Lenders or RIHousing’s Loan Center.

Do Providence or Warwick have higher conforming loan limits?

No. Every Rhode Island county uses the same $832,750 limit for a one-unit home in 2026. A refinance above the limit is a jumbo loan, priced today at 6.875% (7.131% APR) for 30 years.

Can I refinance a VA loan in Rhode Island?

Yes. If your current mortgage is VA-backed, a VA Interest Rate Reduction Refinance Loan (IRRRL) can lower your rate with less paperwork than a standard refinance. Lower’s 30-year VA refinance rate in Rhode Island is 6.500% (6.842% APR) today. VA and lender requirements apply.

Related Rhode Island mortgage pages

Movoto market trends data, September 2026, for each city. Cities are the state's largest by Census Bureau population estimates (Vintage 2024) among cities with Movoto data; where a city has too few sales, the next-busiest markets by homes sold fill in. Conforming loan limits: FHFA, 2026. Property tax estimates use county effective rates from the American Community Survey; homeowners insurance estimates are average annual premiums from The Zebra; your quote will vary. Rates as of November 6, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, down payment, loan type and other factors.

5.0

Tyler was great to work with throughout the entire process. He was very responsive, knowledgeable, and always took the time to answer my questions and keep me updated. The whole refinance process was smooth and straightforward. I really appreci…ate his help and would definitely recommend him. Thank you, Tyler!

Fouad Z.

Verified Customer

August 24, 2026

5.0

It was such a delight to work with Sean on our refi. He is methodical, super organized and was well informed about all the loan products that would fit the bill for us. He made the whole process- from star to finish- super easy and was there t…o answer all of our questions. Highly recommended!!

Sai A.

Verified Customer

October 26, 2026

5.0

Katie was wonderful to work with on this refinance she is on top of everything. Refinancing can be difficult but her commitment to making sure my experience went smoothly and with out a hiccup was great. I will use he…r again in the future for sure .

Gregory M.

Verified Customer

September 1, 2026

5.0

Cam did an amazing job explaining everything from day 1 and guiding us every step of the way. He was on top of things and ensured we never missed a task or action item or deadline. I appreciated how prompt Cam was in responding to any question,… even if it was after work hours. I would highly recommend Cam to anyone looking for a mortgage and if I ever feel the need to refinance, I'll reach out to Cam without any hesitation.

Atif M.

Verified Customer

August 14, 2026

5.0

Katie did an amazing job helping us refinance our home almost 6 years ago. Her knowledge, professionalism and wonderful sense of humor made the process easy and stress free. The new loan made our dream of owning our home happen sooner, while s…aving money. I have and would recommend Katie to friends and family interested in buying a home for their first time or refinancing their current one.

Lynn W.

Verified Customer

October 9, 2026

5.0

Having worked alongside Angel Ramos, I can say firsthand that his reputation as an elite sales professional is built on one thing: exceptional client care. In an industry like mortgage lending where trust, timing, and clear communication make a…ll the difference, Angel has always stood out as a top producer whose business was driven by word-of-mouth and repeat referrals. He never approaches sales as a one-time transaction; he treats every client interaction as a long-term partnership. He takes the time to listen, demystify complex financial details, and advocate relentlessly for the best possible outcome. Anyone navigating the loan process—whether purchasing their first home or refinancing—is in remarkably capable, honest hands with Angel. I recommend him without hesitation to any homebuyer or real estate partner looking for a dependable loan officer

Lawrence S.

Verified Customer

November 5, 2026

Fouad Z. rated Tyler Helm 5.0 stars: Tyler was great to work with throughout the entire process. He was very responsive, knowledgeable, and always took the time to answer my questions and keep me updated. The whole refinance process was smooth and straightforward. I really appreciate his help and would definitely recommend him. Thank you, Tyler! Sai A. rated Sean ONeil 5.0 stars: It was such a delight to work with Sean on our refi. He is methodical, super organized and was well informed about all the loan products that would fit the bill for us. He made the whole process- from star to finish- super easy and was there to answer all of our questions. Highly recommended!! Gregory M. rated Katie Henry 5.0 stars: Katie was wonderful to work with on this refinance she is on top of everything. Refinancing can be difficult but her commitment to making sure my experience went smoothly and with out a hiccup was great. I will use her again in the future for sure . Atif M. rated Cam Lewis 5.0 stars: Cam did an amazing job explaining everything from day 1 and guiding us every step of the way. He was on top of things and ensured we never missed a task or action item or deadline. I appreciated how prompt Cam was in responding to any question, even if it was after work hours. I would highly recommend Cam to anyone looking for a mortgage and if I ever feel the need to refinance, I'll reach out to Cam without any hesitation. Lynn W. rated Katie Lepley 5.0 stars: Katie did an amazing job helping us refinance our home almost 6 years ago. Her knowledge, professionalism and wonderful sense of humor made the process easy and stress free. The new loan made our dream of owning our home happen sooner, while saving money. I have and would recommend Katie to friends and family interested in buying a home for their first time or refinancing their current one. Lawrence S. rated Angel Ramos 5.0 stars: Having worked alongside Angel Ramos, I can say firsthand that his reputation as an elite sales professional is built on one thing: exceptional client care. In an industry like mortgage lending where trust, timing, and clear communication make all the difference, Angel has always stood out as a top producer whose business was driven by word-of-mouth and repeat referrals. He never approaches sales as a one-time transaction; he treats every client interaction as a long-term partnership. He takes the time to listen, demystify complex financial details, and advocate relentlessly for the best possible outcome. Anyone navigating the loan process—whether purchasing their first home or refinancing—is in remarkably capable, honest hands with Angel. I recommend him without hesitation to any homebuyer or real estate partner looking for a dependable loan officer

Rhode Island Mortgage Refinance Rates

Current Rhode Island Home Refinance Rates

Get your personalized rate

Refinance Rates Trend in Rhode Island

How much could you save by refinancing in Rhode Island?

Refinance payments in Rhode Island's largest cities

15-year vs. 30-year refinance in Rhode Island

Refinance options in Rhode Island by loan type

FHA streamline refinance

VA IRRRL

Jumbo refinance

Cash-out refinance or HELOC

Rhode Island refinance programs

Rhode Island refinance FAQs

Related Rhode Island mortgage pages

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