Mortgage brokers are regulated by The Rhode Island Department of Business Regulation (Division of Banking) throughout Rhode Island. This department also issues mortgage broker licenses. Brokers cannot practice within the state of Rhode Island without first holding a valid license. In order to gain a brokerage license, all applicants must have more than five years of experience working within the real estate field. In addition, applicants must show the state a clear 3-year business plan that includes financial statements.
Consumers can gain a favorable mortgage within the state of Rhode Island by gathering quotes from various brokers. In addition, some consumers may qualify for special state programs such as the low income program or the first time buyer program. To find out if you qualify for any of these mortgage rates, speak with a licensed broker. Shopping around for the best mortgage available is the only way to gain an excellent mortgage rate. To begin your search, look through the brokers that we have listed below. You can search for a broker in your area by looking for the town or city nearest to you. Once you have found a few brokers, compare the rates that are available to you in order to find the best possible deal. |
