Down payment assistance in Rhode Island

$15,000

A 0% interest loan with no monthly payments, paired with a RIHousing-funded first mortgage. It is not forgiven: it is due when the borrower stops occupying the home as a primary residence, or the property is sold, transferred or mortgaged (which includes a refinance), or title vests in someone else.

Who qualifies: First-time homebuyers buying a 1-4 family home or condo in Rhode Island. Minimum credit score 660. RIHousing price and income limits. Homebuyer education required. RIHousing first mortgage through a participating lender or the RIHousing Loan Center.

RIHousing · Agency website → · Checked 2026-09-30

$25,000

A 0% interest, no-payment loan for first-generation homebuyers, forgiven after 5 years of owning and living in the home. It is a pilot with limited funds, given first-come, first-served to buyers who already have a loan commitment and a signed purchase agreement.

Who qualifies: First-time, first-generation homebuyers (all applicants must qualify). HUD-approved homebuyer education. RIHousing first mortgage. RIHousing materials describe it as limited to specific zip codes; check RIHousing for current eligible areas.

RIHousing · Agency website → · Checked 2026-09-30