Rhode Island first-time home buyer programs
Rhode Island Housing lists 3 programs that help buyers in Rhode Island with the down payment or closing costs. Amounts and terms are shown as the agency publishes them.
- Programs from the agency
- 3
- Biggest amount listed
- $25,000
- First-time buyers only
- Every program
- Income caps
- Up to $173,399
Down payment assistance programs in Rhode Island
| Program | Amount | Grant or loan | Income limit | First-time buyers only |
|---|---|---|---|---|
| Extra Assistance. With a RIHousing-funded first mortgage through a Participating Lender or the RIHousing Loan Center; credit score 620+; homebuyer course. | Up to 6% of the price, at most $20,000 | Repayable loan: Second mortgage repaid over 15 years at the same interest rate as your main home loan. | 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. Agency income chart | Yes |
| 15kDPA. With a RIHousing-funded first mortgage through a Participating Lender or the RIHousing Loan Center; credit score 660+; homebuyer course; price limit must meet RIHousing Price Limits. | Up to $15,000 | Deferred loan: 0% loan. You repay it when you sell, refinance, give the home to someone else or stop living there. | You must meet RIHousing Price and Income Limits. Agency income chart | Yes |
| FirstGenHomeRI. Only for first-generation homebuyers currently living in Central Falls, East Providence, Pawtucket, Woonsocket, parts of Providence (not 02906) or one Newport census tract. With a RIHousing-funded first mortgage through RIHousing's Loan Center; credit score 660+; homebuyer course; price limit must meet RIHousing price limits. | Up to $25,000 | Forgivable loan: 0% interest and no monthly payments. RIHousing calls it a grant, and it is forgiven once you have owned and lived in the home for five years. | RIHousing Loan Center limits by location, for example $134,520 for 1 or 2 people and $156,940 for 3 or more in the Providence area. Agency income chart | Yes |
Usually, "first-time buyers only" means you haven't owned a home during the past three years, though every program sets a rule of its own. The name of each program links to a Rhode Island Housing page that says whether applications are open right now. The agency also maintains its own list of participating lenders. Compare down payment assistance programs across all states, or ask a lender that works with Rhode Island's programs.
How do you repay Rhode Island's programs?
- Repayable loan: a small second mortgage you pay back monthly, usually along with your first mortgage payment.
- Deferred loan: nothing to pay each month, but the full amount comes due when you sell, refinance or pay the first mortgage off.
- Forgivable loan: keep the home and its first mortgage for the set years, and this second loan is written off.
How does your income compare with Rhode Island's caps?
Every program has its own income cap, which the table shows, and the exact chart is on that program's agency page. Use the HUD income limits lookup (FY2026) to find the figure for your county and household size. If a program relies on its own county chart or Freddie Mac's, the result can differ from HUD's number, and the agency's chart decides.
Talk to a lender that works with Rhode Island programs
These programs are paid out through the agency's approved lenders, so the lender is your next step. Tell us where you're buying and a lender that works with Rhode Island's programs can explain which ones fit you.
Rather not call? Send your details and the lender will reach you.
Are you buying near a state border?
Connecticut, Massachusetts or programs for all 50 states plus DC.