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RIH: New Down Payment Assistance Program: Spring7500

on March 21, 2019 in All News, Rhode Island by Amy Cola
RIHousing’s new Spring7500 program provides a $7,500 down payment assistance loan to eligible first-time homebuyers in Rhode Island.

The program is designed to help first-time homebuyers with what is often the biggest hurdle to homeownership:
the down payment.

To qualify, borrowers must:

  • Be a first-time homebuyer purchasing a 1-4 family home or condominium in Rhode Island
  • Have a minimum credit score of 660
  • Meet RIHousing loan and income limits
  • Complete a homebuyer education course (available in-person or online through RIHousing)
  • Obtain a RIHousing-funded first mortgage through aParticipating Lender or the RIHousing Loan Center
  • Occupy the home as their primary residence

Visit loans.rihousing.com/Spring7500 to learn more.

Courtesy of RIHousing 

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