First Home GrantsCall 866-602-7460

RIHousing FirstGenHomeRI

Rhode Island Housing offers FirstGenHomeRI to first-time buyers in Rhode Island: up to $25,000, as a forgivable loan.

Amount
As much as $25,000
Type of help
A loan that gets forgiven
Only first-time buyers
Yes
Your credit score
At least 660

It's a forgivable loan with 0% interest and nothing to pay each month. RIHousing calls it a grant, forgiven after you've owned the home and lived there for five years.

Keep your home and hold the first mortgage on it for as many years as the program sets, and the forgivable loan is written off.

Who can get RIHousing FirstGenHomeRI?

  • First-generation homebuyers only, if you now live in one Newport census tract, Central Falls, East Providence, Pawtucket, Woonsocket, or parts of Providence outside 02906.
  • The RIHousing Loan Center sets income limits by location: $134,520 if your household has 1 or 2 people, $156,940 with 3 or more, around Providence.
  • 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 at least 660.
  • Before you buy, you'll need a homebuyer education course.
  • You also get a RIHousing-funded first mortgage from RIHousing's Loan Center.
  • The home's price has to fall within RIHousing price limits.

The agency's income chart shows the exact income limit for your household size and county. You can see your area's median income with our HUD income limits tool.

Applying for RIHousing FirstGenHomeRI

  1. Approved lenders hand out this money for Rhode Island Housing, so you'll apply through one of them at the same time as your home loan.
  2. Your lender compares your income, credit and the property to the program's rules, then sets the money aside for you.
  3. At closing, the money goes toward your down payment and closing costs.

Rhode Island Housing's page for FirstGenHomeRI has the full rules and says if it's taking applications; you can also choose one of the agency's participating lenders.

Talk with a lender about RIHousing FirstGenHomeRI

Tell us where you're buying and a lender that works with Rhode Island's programs can tell you whether RIHousing FirstGenHomeRI fits you, and what you could combine with it.

Call 866-602-7460

Don't want to call? Share your information and the lender will get in touch.

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 buyer program · Down payment help in all states