Rhode Island Housing is providing a $10,000 down payment assistance loan to first-time homebuyers in Rhode Island. The program is designed to help eligible first-time homebuyers with what is often the biggest hurdle to homeownership: the down payment.
To qualify you must:
1. Be a first-time homebuyer purchasing a 1-4 family home or condo in Rhode Island
2. Have a minimum credit score of 660
3. Meet the Rhode Island Housing loan and income limits
4. Complete a homebuyer education course (this is available online!)
5. Obtain a RI Housing – funded first mortgage through a participating lender or the RI Housing Loan Center
6. Occupy the home as your primary residence