Rhode Island · Updated October 2026
Down payment & closing cost help
Saving for a down payment is often the biggest hurdle for first-time buyers. Rhode Island has several programs that can help. Here is an overview. Programs, limits, and funding change often, so always confirm current details with RIHousing or a participating lender.
RIHousing programs
What to ask your lender about
15kDPA
Up to $15,000 toward down payment and/or closing costs as a 0% interest loan with no monthly payments. Repaid when you sell or transfer the home or stop living in it. Requires a 660+ credit score, homebuyer education, a RIHousing first mortgage, and income and price limits.
Extra Assistance
Up to 6% of the purchase price or $20,000, whichever is lower, toward down payment and/or closing costs. It is a 15-year second mortgage at the same rate as your RIHousing first mortgage, with no fees. Requires first-time buyer status, a 620+ credit score, homebuyer education, and a RIHousing first mortgage.
FirstGenHomeRI
A pilot offering up to $25,000 in forgivable assistance for first-generation homebuyers. Funds are limited and eligibility depends on where you currently live.
First-time Homebuyer Loan
RIHousing’s mortgage for buyers with little saved, which can be paired with the assistance above.
The 2026 RI REALTORS® Homebuyer Grant has been fully reserved for this year.
Another path
Income-restricted homes
Some homes in Rhode Island are sold at below-market prices to buyers who meet income limits. Through community land trusts and deed-restricted programs, the price stays affordable for future buyers too.
- Below-market purchase price
- Income limits apply
- Resale limits keep the home affordable for the next buyer
- Homebuyer education is usually required
Junia is currently working with Gallery Green in Warren, including income-restricted townhomes through the Community Housing Land Trust of Rhode Island.
Not sure what you qualify for?
Junia connects you with lenders who work with these programs and builds your search around your real budget, in English or Haitian Creole.
This page is general information, not financial or legal advice. Junia Janvier is a licensed real estate agent, not a lender. Program terms are set by RIHousing and other providers and may change at any time.
Equal Housing Opportunity