Closing costs in Rhode Island usually range from 2% to 5% of the home’s purchase price. These costs may include fees for appraisals, inspections, title insurance, and lender charges. Your loan officer can give you a personalized estimate based on your purchase.

For example, on a $300,000 home, buyers can expect to pay between $6,000 and $15,000 in closing costs. 

The most common loans among Rhode Island buyers are:

• Conventional Loans – Flexible terms with competitive interest rates. Often preferred by buyers with strong credit and larger down payments, though options with as little as 3% down are available.

• FHA Loans – Backed by the Federal Housing Administration, these are popular with first-time buyers. They allow lower credit scores and down payments starting at 3.5%.

• VA Loans – Available to eligible veterans, active-duty service members, and surviving spouses. VA loans require no down payment and no private mortgage insurance (PMI).

• USDA Loans – Designed for qualifying buyers in rural and suburban areas. These loans also offer no down payment and reduced mortgage insurance costs.

Rhode Island’s public schools vary in performance, with many districts and individual schools consistently earning high marks for academics, student outcomes, and overall excellence. Some schools are honored with 5-Star ratings by the state’s accountability system for exemplary performance across multiple metrics.

• Top districts include Barrington Public Schools, which is ranked #1 in Rhode Island and holds an A+ grade per Niche rankings. 

• Notable schools such as those in East Greenwich, Cumberland, and North Kingstown also often appear in district-level “best of” lists across the state.

• The state uses a STAR Rating system (1–5 stars) to simplify school performance, and in 2024, 20 schools earned the 5-Star distinction for high achievement and meeting rigorous standards.

For full school and district data, including test scores, spending, and performance metrics, see the Rhode Island School and District Report Cards.