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RIHousing: New Down Payment Assistance Program for First Generation Homebuyers

FirstGenHomeRI opens the doors for first-generation homebuyers with $25,000 in down payment and/or closing cost assistance. The Pilot program targets first-generation buyers by removing one of the biggest barriers to homeownership – the down payment – while boosting the long-term, economic outlook for families who have historically not pursued homeownership

To qualify, you must:

  • Qualify as a first-generation homebuyer*
  • Currently reside in the following communities:
  • Central Falls, East Providence, Pawtucket, Woonsocket, Providence (excluding residents in zip code 02906), Newport (residents in census tract 44005040500 only) **
  • 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 HUD-approved first-time homebuyer education course
  • Obtain a RIHousing-funded first mortgage through RIHousing’s Loan Center
  • Occupy the home as your primary residence

The down payment assistance is a grant that does not need to be repaid if the homeowner keeps their home for five years as their primary residence.

Visit for more information.

*A first-generation homebuyer is defined as any person whose parents or guardian never owned a home during the homebuyer’s lifetime or lost the home to a foreclosure or short sale and do not own a home now. Anyone who lived in foster care also qualifies as a first-generation homebuyer.

**Newport residents can check online at

*** Loan limits: $453,863; Income limits: $99,730 (1–2-person household) and $114,689 (3+ person household).

Courtesy of RIHousing

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RI Alliance for Healthy Homes

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