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. 

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.}}