RIHousing Extra Assistance
Rhode Island Housing offers Extra Assistance to first-time buyers in Rhode Island: up to 6% of the price, at most $20,000, as a repayable loan.
- Amount
- Up to 6% of the price, at most $20,000
- Kind of help
- Repayable loan
- First-time buyers only
- Yes
- Credit score
- 620 or higher
How is RIHousing Extra Assistance paid back?
Repayable loan: second mortgage repaid over 15 years at the same interest rate as your main home loan.
A repayable loan is a small second mortgage you pay off each month, usually in the same payment as your main home loan.
Who qualifies for RIHousing Extra Assistance?
- Through the RIHousing Loan Center: varies by area, up to $150,782 for 1-2 people and $173,399 for 3+. No income limit through participating lenders.
- Only for first-time buyers (usually no home owned in the past three years).
- A credit score of 620 or higher.
- A homebuyer education course before you buy.
- It comes with a RIHousing-funded first mortgage through a Participating Lender or the RIHousing Loan Center.
The exact income limit for your county and household size is on the agency's income chart. Our HUD income limits lookup shows your area's median income.
How to apply for RIHousing Extra Assistance
- Rhode Island Housing pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Rhode Island Housing's page for Extra Assistance, or pick a lender from the agency's list of participating lenders.
Ask a lender about RIHousing Extra Assistance
Tell us where you're buying and a lender that works with Rhode Island's programs can tell you whether RIHousing Extra Assistance fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Rhode Island
- RIHousing 15kDPA: up to $15,000, deferred loan.
- RIHousing FirstGenHomeRI: up to $25,000, forgivable loan.
All Rhode Island first-time home buyer programs · Down payment assistance in every state