RIH: New Down Payment Assistance Program: Spring7500

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