Mortgage Rates in Little Compton, Rhode Island — March 2026
Updated March 2026 | Based on Little Compton market data and regional lending conditions
Little Compton is a growing city in Rhode Island with a population of 3,492. The current 30-year fixed mortgage rate in Little Compton is 6.76%, which is 0.11% above the national average. With a median home price of $299,000 and a 20% down payment of $59,800, homebuyers can expect a monthly principal and interest payment of approximately $1,553.
Current Mortgage Rates in Little Compton, RI
Below are the current average mortgage rates available in the Little Compton area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.76% | 6.65% | +0.11% |
| 15-Year Fixed | 6% | 5.89% | +0.11% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 7.01% | 6.85% | +0.16% |
Little Compton Housing Market Overview
The Little Compton housing market offers relatively affordable housing compared to many major cities. The median household income in Little Compton is $59,300, and the cost of living index is 99.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $83,871 to comfortably afford the median-priced home in Little Compton, which exceeds the current median household income.
Monthly Payment Breakdown for Little Compton
Based on the median home price of $299,000 with 20% down ($59,800), here is what you can expect to pay monthly in Little Compton:
15-Year vs. 30-Year Mortgage in Little Compton
Choosing a 15-year mortgage in Little Compton at 6% instead of a 30-year at 6.76% would save you $195,660 in total interest over the life of the loan. However, your monthly payment would be $2,019 instead of $1,553 — an increase of $466 per month.
Calculate Your Little Compton Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Little Compton
What are the current mortgage rates in Little Compton, RI?
As of March 2026, the average 30-year fixed mortgage rate in Little Compton, Rhode Island is 6.76%, while the 15-year fixed rate is 6%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.11% above the national average of 6.65%.
How much is a monthly mortgage payment in Little Compton?
Based on the median home price of $299,000 with 20% down, the estimated monthly mortgage payment in Little Compton is $1,553 for principal and interest. Including property taxes of $404/month, the total monthly housing cost is approximately $1,957.
What income do I need to buy a home in Little Compton?
Using the 28% rule, you would need an annual income of approximately $83,871 to afford the median-priced home in Little Compton at $299,000. The median household income in Little Compton is $59,300. This means most households would need to either earn above the median or consider homes below $299,000.
Is Little Compton a good place to buy a home in 2026?
Little Compton offers a below-average cost of living with a cost of living index of 99.6 (national average = 100). The property tax rate in Rhode Island is 1.62%, which is above the national average. Little Compton has a population of 3,492 and offers a balanced lifestyle.
Mortgage Rates in Other Rhode Island Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Little Compton, Rhode Island area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.