See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 3, 2026
Homebuyer Programs in South Kingstown, RI (2026)
South Kingstown is a coastal town in Washington County, Rhode Island, home to the University of Rhode Island and a population of about 32,000. With a median home price near $590,000, South Kingstown is one of the higher-priced markets in the state. While the town does not offer its own down payment assistance program, buyers can take advantage of strong state-level programs. The RIHousing 15kDPA program provides up to $15,000 as a deferred loan, and the RIHousing Extra Assistance program offers up to 6% of the purchase price or $20,000 as a forgivable loan. South County Habitat for Humanity, the only nonprofit affordable homeownership builder in Washington County, also serves the area with affordable homes for families earning at or below 80% AMI. By combining state and federal programs, South Kingstown buyers can access significant assistance toward homeownership.
City Programs in South Kingstown
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| South Kingstown Housing Authority HCV Homeownership Program | Zero-Interest Loan | Monthly Housing Assistance Payment applied toward mortgage and homeownership expenses | Yes | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Monthly Housing Assistance Payment applied toward mortgage and homeownership expenses
- First-time only:
- Yes
State Programs in Rhode Island
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FirstGenHomeRI | Forgivable Loan | $25,000 | Yes | View → |
| RI AnchorHome | Zero-Interest Loan | Varies — state deposits matching funds to participating lender to enable more affordable mortgage products | Yes | View → |
| RI Realtors Homebuyer Grant | Grant | $1,000 grant ($2,000 for veterans or active military) | Yes | View → |
| RI Statewide DPA Grant | Grant | $17,500 | Yes | View → |
| RIHousing 15kDPA | Deferred Loan | $15,000 | Yes | View → |
| RIHousing Extra Assistance | Forgivable Loan | Up to 6% of purchase price or $20,000, whichever is lower | Yes | View → |
| RIHousing Spring7500 | Forgivable Loan | $7,500 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- $25,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Varies — state deposits matching funds to participating lender to enable more affordable mortgage products
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- $1,000 grant ($2,000 for veterans or active military)
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- $17,500
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- $15,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to 6% of purchase price or $20,000, whichever is lower
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- $7,500
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| South County Habitat for Humanity Homeownership Program | Zero-Interest Loan | Affordable mortgage with below-market interest rate on Habitat-built home | No | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with below-market interest rate on Habitat-built home
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. Most Rhode Island state programs require household income at or below 80% of the Area Median Income and a minimum credit score of 620. Review the specific income limits for Washington County on the RIHousing website.
Step 2: Complete homebuyer education. Rhode Island requires HUD-approved homebuyer education for most assistance programs. Contact RIHousing's HelpCenter at 401-457-1000 to find an approved course. South County Habitat for Humanity also offers homebuyer education as part of their homeownership program.
Step 3: Get pre-approved for a mortgage. Work with an RIHousing-approved lender to get pre-approved. Washington Trust, headquartered in nearby Westerly with a branch in Wakefield, offers the I Luv RI Community Lending Program with up to $1,500 in closing cost credits and up to 105% financing for first-time buyers. People's Credit Union in Wakefield is another local option.
Step 4: Research available programs. Review the RIHousing 15kDPA program ($15,000), Extra Assistance program (up to $20,000), and Spring7500 program ($7,500) to determine which programs you qualify for and how they can be combined.
Step 5: Find a home within program limits. Search for homes in South Kingstown that meet program purchase price requirements. Given the higher median prices in South Kingstown, pay close attention to program price caps for Washington County.
Step 6: Submit your application. Your RIHousing-approved lender will help you apply for down payment assistance programs as part of your mortgage process. Start early and have all documentation ready, as processing times vary by program.
Frequently Asked Questions
How much down payment assistance can I get in South Kingstown?+−
Do I have to be a first-time homebuyer to get assistance in South Kingstown?+−
What is the maximum home price I can pay using assistance programs?+−
What homebuyer education is required?+−
Does South Kingstown have its own town-funded down payment assistance?+−
Are there affordable homeownership options in South Kingstown?+−
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