RIH: New Down Payment Assistance Program: Spring7500
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