Rhode Island offers 12 down payment assistance programs to help homebuyers cover their down payment and closing costs. This includes 6 grant programs that never require repayment. Programs range from statewide options administered by the state housing finance agency to local city and county programs targeting specific communities.
Maximum assistance available reaches $25,000 through the most generous program. Credit score requirements start as low as 660 for some programs. Most programs require the home to be your primary residence, and many require homebuyer education.
Top Down Payment Assistance Programs in Rhode Island
Highlighted programs that combine high assistance amounts with statewide or major-metro availability. See the full list below.
FirstGen Homebuyer Program
verifyRhode Island Housing
Provides grants UP TO $25,000 for first-generation homebuyers.
Down Payment Assistance
openConfederated Tribes of Grand Ronde - Housing
20 (max $20,000)
RIHousing Extra Assistance Program
verifyRhode Island Housing
6 (max Provides UP TO $17,500 in down payment and closing cost assistance.)
RIHousing 15kDPA Program
verifyRhode Island Housing
Provides $15,000 for down payment and closing costs.
15kDPA
verifyRhode Island Housing
$15,000
Grant Programs (6)
Grants are the gold standard of down payment assistance. You receive the money and never have to pay it back.
FirstGen Homebuyer Program
Rhode Island Housing
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Eligibility: First-time homebuyers who a...
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- grant
- Profession
- all
- Homebuyer Ed.
- Not specified
Income Limits
Eligibility: First-time homebuyers who are the first in their families to own a home; income limits based on HUD guidelines.
Check AMI limits for your county →Down Payment Assistance
Confederated Tribes of Grand Ronde - Housing
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- grant
- Profession
- All
- Homebuyer Ed.
- Yes
City of Cranston Down Payment Assistance Program
City of Cranston
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Varies
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- grant
- Profession
- all
- Homebuyer Ed.
- Not specified
Repayment Terms
Forgivable lien. You must remain in the home for 5 years to avoid repayment.
Notes
Required
Grant Program
Rhode Island Realtors
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- grant
- Profession
- All
- Homebuyer Ed.
- Not specified
RI AnchorHome
Rhode Island Department of Treasury
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- 110% AMI
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- grant
- Profession
- all
- Homebuyer Ed.
- Not specified
Income Limits
Eligibility: First-time homebuyers meeting income limits (approx. 110% AMI).
Check AMI limits for your county →Notes
Required
Homebuyers Access Wider Path Grants
Wider Path Home Foundation
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, 3 units, 4 units, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- grant
- Profession
- All
- Homebuyer Ed.
- Yes
Forgivable Loans (1)
Forgivable loans are forgiven after a set period of living in the home. If you stay, you keep the money.
RIHousing Extra Assistance Program
Rhode Island Housing
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Eligibility: First-time homebuyers using...
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
Eligibility: First-time homebuyers using an RIHousing mortgage program; income limits vary by county and household size.
Check AMI limits for your county →Repayment Terms
Forgivable after five years if the buyer remains in the home.
Notes
Required
Deferred Payment Loans (3)
Deferred loans require no monthly payments while you live in the home. You repay when you sell, refinance, or move out.
15kDPA
Rhode Island Housing
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium
- Max Price
- $838,592
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- No
Chenoa Fund FHA Down Payment Assistance Forgivable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Chenoa Fund FHA Down Payment Assistance Repayable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
Note rate 1% above the first mortgage note rate
Repayment Terms
This loan does require a monthly payment on the second mortgage.
Second Mortgages (2)
These programs provide DPA as a second mortgage, sometimes with monthly payments, sometimes deferred.
RIHousing 15kDPA Program
Rhode Island Housing
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Varies
- Min Credit Score
- 660+
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Not specified
Interest Rate
0%
Repayment Terms
0% interest deferred loan. No monthly payments are required. You must repay the loan when you sell the home, refinance, or transfer the title.
Notes
Required
City of Woonsocket First Home Program
City of Woonsocket
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Varies
- Min Credit Score
- Not specified
- Property Types
- 1-4 unit
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Not specified
Interest Rate
0%
Repayment Terms
Deferred 0% interest loan. Repaid upon sale, transfer, or refinance (unless specific forgiveness terms are met based on updated HUD guidelines).
Notes
Required
How to Apply for Down Payment Assistance in Rhode Island
-
1
Check Your Eligibility
Use our free eligibility tool to see which programs match your situation. Enter your state, city, income, and target home price.
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2
Contact the Program Administrator
Each program has its own application process. Visit the program website or call the administering agency to get started. Many programs work through approved lenders.
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3
Get Pre-Approved with a Participating Lender
Not every lender participates in every DPA program. Work with a lender who is approved for the programs you want. The program administrator can provide a list of approved lenders.
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4
Complete Homebuyer Education (If Required)
Many programs require a HUD-approved homebuyer education course. Online options through eHome America and Framework are accepted by most programs.
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5
Close & Move In
DPA funds are typically disbursed at closing alongside your first mortgage. Your lender coordinates the DPA program paperwork as part of the loan process.
Frequently Asked Questions
How much down payment assistance can I get in Rhode Island?
Up to $25,000 through available programs in Rhode Island. Multiple programs can often be combined for even more assistance. The exact amount depends on your income, location, and the specific program requirements.
Do I need to be a first-time homebuyer?
Not always. 2 programs in Rhode Island are open to repeat buyers. "First-time buyer" is typically defined as not having owned a home in the past three years.
What credit score do I need?
As low as 660 for some programs. Most programs require 620-660. Higher credit scores may qualify you for more programs and better terms.
Can I combine multiple DPA programs?
In many cases, yes. Some programs are specifically designed to be layered with others. For example, you might combine a state grant with a local deferred loan. Check with each program administrator about stacking eligibility.
DPA Programs in Nearby States
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