Are you a first-time homebuyer in the charming state of Rhode Island? This comprehensive guide is your go-to resource, providing valuable information and specialized assistance programs tailored exclusively for residents of the Ocean State. Explore a variety of programs, including down payment assistance and favorable mortgage options, designed to make homeownership more accessible. Navigate the dynamic Rhode Island real estate market with confidence.
State-Wide Programs
| Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|
| Reduces up to $2,000 in mortgage interest that you pay into federal taxes for the life of your loan | First time homebuyers | Tax credit | |
| Up to $12,000 in down payment assistance | First time homebuyers that can meet income requirements | Second Mortgage |
Regional Programs
| City | Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|---|
| Cranston | Up to $3,000 in closing cost assistance | First time homebuyers | Grant | |
| Cranston | Up to $5,000 in down payment assistance | First time homebuyers | Grant | |
| Providence | Up to $20,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Forgivable, deferred loan with a 0% interest rate | |
| Woonsocket | Up to $5,000 in down payment assistance | First time homebuyers that can meet income requirements | Deferred loan with a 0% interest rate - 50% forgivable |
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Learn more about living in Rhode Island
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