Closing costs in Rhode Island
On a $500,000 home with 20% down, buyers in Rhode Island typically pay about $7,858 to $18,950 at closing, including prepaid taxes and insurance.
Typical buyer total1.6%–3.8%Of the price, 20% down
Closings handled byA title or settlement companyCustomary in the state
Buyer-paid taxesNoneTransfer taxes are seller-paid or not charged
Buyer-paid taxes
| Tax | On $500,000 with 20% down | Note |
|---|---|---|
| None for buyers | $0 | Rhode Island’s real estate conveyance tax ($4.60 per $1,000, higher above $800,000) is paid by the seller. |
Estimated closing costs by price
| Price | Loan | Closing costs | Share of price |
|---|---|---|---|
| $300,000 | Conventional, 20% down | $6,255 – $14,450 | 2.1%–4.8% |
| $300,000 | FHA, 3.5% down | $6,529 – $15,213 | 2.2%–5.1% |
| $500,000 | Conventional, 20% down | $7,858 – $18,950 | 1.6%–3.8% |
| $500,000 | FHA, 3.5% down | $8,316 – $20,222 | 1.7%–4.0% |
| $750,000 | Conventional, 20% down | $9,863 – $24,575 | 1.3%–3.3% |
| $750,000 | FHA, 3.5% down | $10,548 – $26,483 | 1.4%–3.5% |
Who pays what in Rhode Island
Rhode Island’s real estate conveyance tax ($4.60 per $1,000, higher above $800,000) is paid by the seller.
Questions
How much are closing costs for buyers in Rhode Island?
Often about 1.6% to 3.8% of the price with 20% down, including prepaid taxes and insurance.
Do buyers pay transfer tax in Rhode Island?
No. Rhode Island’s real estate conveyance tax ($4.60 per $1,000, higher above $800,000) is paid by the seller.
More for Rhode Island
Sources: Rhode Island General Laws §44-25-1. Fees are typical ranges, not quotes; your Loan Estimate lists the actual costs.