BayCoast Mortgage Down Payment Assistance Program
Funding status: Active
How much assistance
Up to $10,000 in matching funds (Forgivable Loan)
Tier I: Forgiven after 5 years if first mortgage is paid on time and property remains owner-occupied. Tier II: Monthly payments deferred for first 5 years, then interest-free repayment over remaining 10 years.
Eligibility
- Income limits: Must meet income limits for eligible communities (varies by area)
- First-time buyer required: Yes
- Geographic restrictions: Available in select Rhode Island and Massachusetts communities within BayCoast Bank's CRA Assessment Area, including West Warwick, Warwick, Cranston, Providence, East Providence, Pawtucket, Cumberland, North Providence, South Kingstown, Tiverton, Newport, and Richmond.
How to Apply for BayCoast Mortgage Down Payment Assistance Program
Step 1: Contact BayCoast Mortgage at 877-466-2678 to check eligibility and begin the application process. A Loan Officer will review your qualifications and guide you through the matching funds program.
Notes
CRA-based program from BayCoast Bank. Offers dollar-for-dollar matching funds in two tiers. Limited number of grants available per cycle.