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North Smithfield BRANCH

11 Main Street
North Smithfield RI 02896

Directions

OPEN WEEKDAYS 8:00AM – 5:00PM

401-486-6894

For additional assistance or, to see what you qualify for

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PRMG North Smithfield BRANCH INFORMATION

For over two decades, Paramount Residential Mortgage Group Inc. (PRMG) continues to be a Top 15 Leading Lender in the mortgage industry. As a privately held mortgage company and residential home lender, PRMG has successfully helped many borrowers purchase and refinance their homes throughout the United States.

PRMG has fostered an aligned company culture “earned over time”. We have a saying here; the inside drives the outside. Therefore, it is imperative that our ops and sales teams are aligned. Our goal is to provide customers with a ‘Path to Pivot’ to more consumer facing activities and modern lending technology. This includes innovative products and industry-leading customer service levels.

PRMG is licensed in 49 states in addition to Washington DC and by the U.S. Department of Housing and Urban Development (HUD) with branches and operation centers strategically located across the country! We deliver a wide range of Jumbo, FHA, VA, USDA, and conventional loan products, along with providing cutting-edge technology and industry-leading customer service. PRMG is an agency-approved direct issuer to Ginnie Mae, as well as a licensed seller/servicer of Fannie Mae.
Additionally, PRMG gives back to the community through their 501(C)3 non-profit foundation, PRMG Cares. PRMG Cares has donated time and money to local and nationwide charities. To learn more, please visit PRMG Cares!

We’re All In!

Branch Manager Image

Michael Dutra

Branch Manager

BRANCH NMLS #2073721

4.9 out of 5.0 stars

90,000 reviews

YOUR HOMEOWNERSHIP JOURNEY STARTS HERE

OUR TEAM OF PROFESSIONALS ARE HERE TO HELP YOU NAVIGATE THE HOMEBUYING PROCESS

Meet the North Smithfield Team
Al Cahill

Al Cahill

Loan Officer

NMLS #19266
Ralph King

Ralph King

Loan Officer

NMLS #8133
Michael Dutra

Michael Dutra

Eastern Division Production Manager

NMLS #
Nathan Luciano

Nathan Luciano

Loan Officer

NMLS #706879
Jeff Flowers

Jeff Flowers

Loan Officer

NMLS #20888
Bruce Allan Moran

Bruce Allan Moran

Loan Officer

NMLS #22444
James Eulie

James Eulie

Loan Officer

NMLS #116600
John Dionne

John Dionne

Loan Officer

NMLS #13531
Christian Scully

Christian Scully

Loan Officer

NMLS #1864693

HOME MORTGAGE OPTIONS

When it comes to home mortgages, the amount of options can feel overwhelming. Whether you’re a first-time homebuyer, purchasing a new home, or want to refinance your existing mortgage, it’s important to understand the different types of home mortgages available and which best fit your goals.

Generally, there are four primary types of home mortgages:

Government Backed Loans: Loans that are insured by the federal government, have lower credit score and down payment requirements, and have potentially higher interest rates.

Conventional Loans: Loans that are not backed by the federal government, typically require higher credit score and down payments, but may have lower interest rates.

Non-Qualified Loans: Loan options that do not meet specific criteria set by regulatory bodies, making them suitable for individuals with unique financial situations.

Non-Conforming Loans: Loans that exceed the standard loan limits and do not conform to government-sponsored loan guidelines.

Whatever loan type you choose, many will give you a choice between a fixed or adjustable interest rate.

Fixed Interest Rates: When the interest rate percentage remains the same throughout the life of the loan, offering predictability and stability.

Adjustable Interest Rates: When the interest rate percentage may start lower than a fixed rate but increases over time, depending on various factors.

You can read more about our home mortgage options below, or call our team of home mortgage professionals at any time!
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GOVERNMENT BACKED LOANS

These loans are insured by the federal government, have lower credit score and down payment requirements, but have potentially higher interest rates.

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FHA LOANS

  • Backed by the Federal Housing Administration

  • Popular choice for first-time homebuyers

  • Require lower minimum credit scores and down payments than many conventional loans

  • More accessible for many borrowers

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USDA LOANS

  • Backed by the U.S. Department of Agriculture

  • Designed for low-to-moderate income borrowers in Eligible Rural Areas

  • Flexible credit requirements with competitive interest rates and terms

  • Zero or low down payment options

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VA LOANS

  • Backed by the Department of Veterans Affairs

  • Offered to eligible veterans, active-duty service members, and their qualified family members.

  • Lower interest rates and fewer fees than traditional mortgages

  • Require no down payment

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CONVENTIONAL HOME LOANS

Conventional loans are mortgages not insured or guaranteed by any government agency. Instead, these loans are backed by private lenders, and typically have stricter credit and income criteria. These loans can be "conforming" or "non-conforming".

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MANUFACTURED HOME LOANS

  • Designed for the purchase or refinance of Manufactured Homes

  • Often have higher interest rates due to higher risk

  • Shorter loan terms create higher down payments

  • Great option for borrowers seeking affordable and flexible housing

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RENOVATION LOANS

  • Designed to fund renovations, remodels, or increase energy efficiency

  • Popular with homeowners without cash on hand for renovations

  • Several types available with unique terms and requirements

  • Helps homeowners improve quality of life or increase property's value

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NON-QUALIFIED LOANS

A Non-Qualified Loan is a type of mortgage that doesn't meet standards set by regulatory guidelines. They offer borrowers with unique financial situations financing options inaccessible to them through traditional mortgages requirements.

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INTEREST ONLY LOANS

  • Allows borrowers to only pay their loan's interest for a set time

  • Principal can be repaid in a lump sum or in payments

  • Allows real estate investors to allocate resources during interest only period and potentially increase returns on other investments

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NON-CONFORMING LOANS

Non-conforming loans, are mortgage options designed for borrowers whose financial circumstances fall outside conventional lending norms. While they provide flexibility, non-conforming loans typically involve higher interest rates and more stringent qualifications.

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JUMBO LOANS

  • Designed to finance properties that are too expensive for conforming loans

  • Maximum conforming loan in 2024 is between $766,550 and $1,149,825 depending on the location.

TALK TO A HOME MORTGAGE PROFESSIONAL

North Smithfield Branch Location Details

PRMG branches are staffed with seasoned home mortgage professionals ready to offer the personalized guidance you need to make your homeownership dreams a reality. Can’t visit in person? Contact us online or by phone, and our team will get back to you as soon as possible. Don’t wait, your homeownership journey starts today!

BRANCH ADDRESS

11 Main Street
North Smithfield RI 02896

Directions

BRANCH PHONE NUMBER
401-486-6894