Home Loans and Refinancing in Rhode Island

Rhode Island may be just 1214 square miles wide but it doesn’t mean you can’t experience the best if you move to the state. The tiny state is known for its top-rated schools and arguably the best clam chowder in the world. Rhode Island attracts new residents from all across the country. Living here gives you an attractive mix of both city and town living, which is why more and more people are moving here to take roots. 

The competition for real estate properties here is intense. People are always looking for more living space which is why you need to get in touch with a mortgage lender in Rhode Island so you can close that deal on your new home.

The top cities to live in Rhode Island include Kingston, Ashaway, and Newport. 

Living in a small state has its advantages. You no longer have to endure long commutes where you have to spend hours on end sitting in traffic. Being 50 miles long and 40 miles wide also means that you are only less than an hour away from the most beautiful beaches in America. Surfers would love the swells in Narragansett Town Beach where they can enjoy four feet waves early in the morning.

Rhode Island is also known for being a green state which utilizes the power of solar and wind technology. It is home to the nation’s first offshore wind farm which is found off the coast of Block Island. Drive down the highway and you’ll find solar panels and wind turbines across many homes and businesses in the state. 

Residents take sports seriously. Living here means you are less than an hour away from legendary sports teams from the 4 major sports: The Red Sox, The Patriots, Celtics, and Bruins. You can enjoy full TV and radio coverage on local channels for all four teams.

The job market in Rhode Island has been experiencing an upward trend. The unemployment rate is pegged at 3.6% which is pretty close to the national average. The minimum wage is at $10 per hour while the average salary is $52,220 which is $1,600 more than the national average.

If you are looking to buy a home or refinance your mortgage, Cedar Wood Mortgage can help. Cedar Wood Mortgage is the lender specializing in home purchase loans and refinance mortgages in Rhode Island.