RI Housing First Time Homebuyer Loan
Available Assistance
The First Homes Tax Credit allows first-time homebuyers to receive tax savings. It reduces a borrower’s federal tax liability and can be claimed each year for the life of the mortgage. The program also offers a 15-year, fixed second mortgage to finance the down payment and/or closing costs.
Property Requirements
The maximum purchase price through the RIHousing Loan Center is $454,258 for a 1- to 4-person home or eligible condominium.
Income Limits
1 or 2-person household: $95,948
3 or more-person household: $110,341
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.
First-Time Homebuyer Programs in Rhode Island
RI Housing First Time Homebuyer Loan
RIHousing's First-time Homebuyer Loan helps to make the mortgage process more affordable for first-time homebuyers.
City of Cranston First Time Homebuyer Programs
The City of Cranston, Rhode Island established two programs first-time homebuyer programs to help potential applicants buy their first home.
First-time homebuyer assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
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