RIHousing Spring7500

Administered by: Rhode Island Housing (RIHousing) · State · Forgivable Loan

Funding status: Active

How much assistance

$7,500 (Forgivable Loan)

Forgiven after 5 years of owner-occupancy as primary residence.

Eligibility

  • Income limits: Must meet RIHousing loan and income limits
  • First-time buyer required: Yes — Must not have owned a home in the past 3 years.
  • Geographic restrictions: Available only in Providence, Pawtucket, Woonsocket, Warwick, Cranston, and East Providence — the six Rhode Island communities most affected by the foreclosure crisis.
  • Homebuyer education required: Yes

How to Apply for RIHousing Spring7500

Step 1: Contact an RIHousing Participating Lender or the RIHousing Loan Center. Must finance first mortgage through RIHousing. Must occupy the home as primary residence.

Visit program website

Notes

Secured by a second mortgage. Targets communities most affected by the foreclosure crisis. Verify current funding availability with RIHousing.

Available Statewide In