Rhode Island closing cost calculator

Rhode Island buyers pay no conveyance or mortgage tax. The buyer customarily pays for the owner’s title policy, and attorneys usually run the closing.

Rhode Island’s rules checked September 30, 2026Runs in your browser. Nothing you type is saved.

State Closing date

Rhode Island: Real estate conveyance tax: 0.75% to 1.5%, by price, and the seller usually pays it. Owner’s title is usually paid by the buyer. An attorney usually handles the closing.

Purchase price

$

The loan

Loan type

Down payment

Interest rate

%

Term

Estimated cash to close $100,962

2.2%closing costs

Purchase price$455,000
Down payment (20%)$91,000
- Loan amount$364,000
Loan costs+$4,340
- Origination and lender feesest.+$3,640
- Appraisalest.+$700
Title and closing+$3,843
- Lender’s title insuranceest.+$500
- Owner’s title insuranceest.+$1,593
- Settlement or escrow feeest.+$600
- Closing attorneyest.+$900
- Recording feesest.+$250
Taxes−$4,213
- Property tax credit from the sellerest.−$4,213
Prepaids and escrow+$5,542
- Homeowner’s insurance, first yearest.+$2,275
- Prepaid interest (27 days)est.+$1,750
- Property tax escrow (3 months)est.+$1,138
- Insurance escrow (2 months)est.+$379
Other costs+$450
- Home inspectionest.+$450
Cash to close$100,962

Estimated monthly payment$2,870

Principal and interest$2,301
Mortgage insurance$0
Property taxes$379
Insurance$190
HOA dues$0

An estimate, not a Loan Estimate or Closing Disclosure. Your lender's Loan Estimate and the title or escrow company give the final figures. Rates, fees and insurance vary by lender and property.

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A Rhode Island purchase, worked out

The calculator opens on $455,000, about the median value of an owner-occupied home in Rhode Island ($455,700, 2024 Census estimate), with 20% down on a 30-year conventional loan and a closing on December 5, 2026.

The buyer brings about $100,962: $91,000 down and $9,962 in closing costs, 2.2% of the price. Rhode Island charges the buyer no state transfer or mortgage tax. The monthly payment comes to about $2,870, with property tax and insurance.

Cash to close on $455,000, 20% down
Down payment	$91,000
Origination and lender feesest.	+$3,640
Appraisalest.	+$700
Lender’s title insuranceest.	+$500
Owner’s title insuranceest.	+$1,593
Settlement or escrow feeest.	+$600
Closing attorneyest.	+$900
Recording feesest.	+$250
Property tax credit from the sellerest.	−$4,213
Homeowner’s insurance, first yearest.	+$2,275
Prepaid interest (27 days)est.	+$1,750
Property tax escrow (3 months)est.	+$1,138
Insurance escrow (2 months)est.	+$379
Home inspectionest.	+$450
Cash to close	$100,962

Estimates are tagged “est.”; Rhode Island’s taxes follow its rules. A “−” is a credit, like the seller’s share of this year’s property tax where it’s paid after the year ends.

At other prices

Rhode Island has no state tax of its own on the buyer. Each row has 20% down on a conventional loan.

Price	Rhode Island’s buyer taxes	Closing costs	Cash to close	Monthly payment
$250,000	—	$7,297	$57,297	$1,597
$500,000	—	$10,610	$110,610	$3,153
$750,000	—	$14,375	$164,375	$4,730
$1,000,000	—	$18,200	$218,200	$6,307
$2,000,000	—	$33,499	$433,499	$12,613

Buying in Rhode Island: what to know

No buyer’s taxes

Rhode Island has no buyer-paid conveyance or mortgage tax. Buyers of second homes or rentals should know that a yearly surcharge on the assessed value above $1 million of homes the owner doesn’t live in starts July 1, 2026; it is a property tax, not a closing cost.

Real estate conveyance tax

Rhode Island’s realty conveyance tax is $3.75 per $500 (0.75%) of the full price, rounded up to the next $500, and on a home an additional $3.75 per $500 on the part above $800,000, so 1.5% on that slice. These rates took effect October 1, 2025, up from $2.30 per $500. The seller pays unless the parties agree otherwise. Non-residential property pays a flat 0.75%.

Title insurance

The buyer customarily pays for the owner’s policy in Rhode Island.

Who runs the closing

Rhode Island closings are customarily run by attorneys, often the lender’s or buyer’s, and sellers often hire an attorney for the deed. It is customary rather than strictly required.

Property taxes and escrow

Rhode Island property tax is set by each town. Most use a July-to-June fiscal year with quarterly installments, and some assess as of December 31 of the prior year, so the proration direction varies by town.

Buying in Rhode Island: questions

Does the buyer pay transfer tax in Rhode Island?

No. The seller pays Rhode Island’s conveyance tax, and there’s no mortgage tax.

Do I need an attorney to buy in Rhode Island?

It is customary. Rhode Island closings are usually run by attorneys, often the lender’s or buyer’s.

Who pays for title insurance in Rhode Island?

The buyer customarily pays for the owner’s policy in Rhode Island.

How much are closing costs in Rhode Island?

On a $455,000 home with 20% down on a conventional loan, the calculator’s estimates put a Rhode Island buyer’s closing costs at about $9,962, or 2.2% of the price, and cash to close at $100,962. Rhode Island charges the buyer no state transfer or mortgage tax. Lender fees, insurance and the rate vary, so put in your lender’s Loan Estimate for a closer number.

Is anything I type saved?

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