The Program offers down payment and closing cost assistance to help first-time homebuyers address rising housing costs in today’s competitive market. The down payment assistance is a grant that does not need to be repaid.
ARE YOU ELIGIBLE FOR THIS COMPLETELY FORGIVABLE GRANT?
See below for eligibility
Eligibility
Be a first-time homebuyer* purchasing a 1-4 family home or condominium in Rhode Island
Have a minimum credit score of 660
Meet RIHousing income limits**
Complete a homebuyer education course (available online or virtually through RIHousing)***
Obtain a RIHousing-funded first mortgage through a Participating Lender or the RIHousing Loan Center
Occupy the home as your primary residence
* A first-time homebuyer is defined as an applicant who has not owned a home as their primary residence in the past three years
**Income limits are subject to change.
***Certificates obtained through a RI-based, non-profit, HUD counseling approved organization are also accepted.
READY TO START YOUR HOME SEARCH?
