STATEWIDE PROGRAMS

First Time Homebuyer Mortgage

Assistance Available:
Rhode Island Housing offers several different types of loans in order to assist residents in becoming homeowners.

They have 100% loans with no downpayment required. They also offer no mortgage insurance programs for qualified buyers. For those in need of assistance with downpayment and closing costs, Rhode Island Housing offers 15 year, fixed rate second mortgages.

Qualifications:
If you are a 1 or 2 person household, your annual income cannot exceed $95,948. If your household includes 3+ people, you annual income cannot exceed $110,341. The maximum purchase price is currently $454,258. Single family homes, condominiums, and 1-4 unit properties are eligible.