Monday, October 16, 2017

Record-breaking Quarter for Mortgages

RIHousing funded an all-time high 531 mortgages during the third quarter of 2017. Totaling over $106 million, this represents RIHousing’s highest single-quarter mortgage volume in the corporation’s 44-year history.

“We are thrilled that more people are putting down roots in Rhode Island,” said Barbara Fields, Executive Director of RIHousing.  “This is a great win for our communities and economy.”

The corporation’s mortgage volume rose steadily during each month of the quarter:





Comparatively, RIHousing’s average monthly mortgage volume throughout 2016 was approximately 135 first mortgages.

“RIHousing’s success is a direct result of the strong relationships we have cultivated with our partners,” Fields added. “40 broker and lender partners offer a wide array of programs that are helping Rhode Islanders achieve the dream of homeownership.”

RIHousing offers an extensive line of loan options for first-time homebuyers, current homeowners and Rhode Islanders looking to improve their homes. Since 2007, RIHousing has helped approximately 10,000 Rhode Islanders purchase a home.