First Home GrantsCall 866-602-7460

RIHousing Extra Assistance

Rhode Island Housing offers Extra Assistance to first-time buyers in Rhode Island: as much as 6% of the price, but no more than $20,000, as a repayable loan.

Amount
As much as 6% of the price, but no more than $20,000
Type of assistance
Loan you repay
Open to first-time buyers only
Yes
Your credit score
620 or above

Repayable loan: a second mortgage you pay back over 15 years, with an interest rate matching your main home loan.

A repayable loan means a small second mortgage. You pay it off monthly, usually inside the same payment you make on your main home loan.

Who can get RIHousing Extra Assistance?

  • If you go through the RIHousing Loan Center, the limit depends on your area: up to $150,782 for households of 1-2 people and $173,399 for 3+. Participating lenders set no income limit.
  • You must be a first-time buyer (which usually means you haven't owned a home in the last three years).
  • Your credit score must be 620 or higher.
  • You need to finish a homebuyer education course before purchasing.
  • You get this alongside a RIHousing-funded first mortgage, which a Participating Lender or the RIHousing Loan Center provides.

Check the agency's income chart for the exact limit that applies to your county and household size. Use our HUD income limits lookup to find the median income where you live.

Applying for RIHousing Extra Assistance

  1. Rhode Island Housing sends this money through its approved lenders. You apply with one of them when you apply for your home loan.
  2. Your lender reviews your income, credit and the property against the program's rules, then sets the money aside for you.
  3. At closing, the funds go toward your down payment and closing costs.

The complete rules and whether it is taking applications are on Rhode Island Housing's page for Extra Assistance. The agency also has a list of participating lenders to pick from.

Talk to 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.

Call 866-602-7460

Prefer not to call? Share your details and the lender will contact you.

When you send this request, you agree that one mortgage lender who works with these programs may contact you by email, phone or text, including by automated means, about this request. Agreeing is not a condition of any purchase. We are an independent guide, not a lender or a government agency; only that one lender gets your details, and it may pay us for the introduction. See our about page and privacy notice.

More Rhode Island programs for first-time buyers

Every Rhode Island first-time home buyer program · Down payment help in every state