RI Housing recently introduced a new RI Statewide DPA Grant – a new down payment assistance program. Launched in partnership with the state of Rhode Island, this program provides $17,500 to eligible first-time homebuyers to assist with down payment and closing costs. By offsetting these costs, the program aims to put homeownership in reach for more Rhode Island families. The down payment assistance is a grant that does not need to be repaid. 

 

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

Terms and Conditions

• No monthly payments due; immediately forgivable 
• All first mortgage requirements apply 

 Learn more about program requirements and submit your application today: https://bit.ly/3RooNNL.

 

About the RI Statewide DPA Grant Program

This project is being supported, in whole or in part, by the State Fiscal Recovery Fund (federal award number SLFRP0136) awarded to the State of Rhode Island by the U.S. Department of the Treasury.

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit RIHousing.com