Rhode Island Closing Costs Calculator
Estimate closing costs for buying a home in Rhode Island. Average closing costs run 1.7% of the purchase price (about $7K on the median home).
Rhode Island: Avg closing costs 1.7% of price. Transfer tax: 0.46%.
Lender Fees
$3,485
origination, underwriting
Third-Party
$3,575
appraisal, title, inspection
Government Fees
$1,955
transfer taxes, recording
Prepaids + Escrow
$6,840
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$3,060
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$2,425
Recording Fee$150
Transfer Tax$1,955
Prepaid Taxes (3 mo)$1,626
Prepaid Insurance (12 mo)$2,200
Prepaid Interest (15 days)$1,022
Escrow Reserves$1,992
Total Closing Costs$15,855
Rhode Island Housing at a Glance
Median Home Price
$425K
Rhode Island statewide
Property Tax Rate
1.53%
$542/mo on median
Avg Closing Costs
$7K
1.7% of purchase price
Homeowners Insurance
$2,200/yr
$183/mo
Rhode Island First-Time Buyer Program
RIHousing First Homes
Down payment assistance: 10K DPA forgivable