10kDPA

 

RIHousing’s new 10kDPA program provides a $10,000 down payment assistance loan to first-time homebuyers in Rhode Island.

The program is designed to help eligible first-time homebuyers with what is often the biggest hurdle to homeownership: the down payment.

 

 

Eligibility

Eligibility

Terms and Conditions

  • Zero percent (0%) interest
  • No monthly payments due
  • The loan is structured so the amount borrowed is only due when the first of the following occurs:
    • Borrower no longer occupies home as primary residence;
    • the property is sold, conveyed, transferred, assigned, encumbered, or mortgaged; or
    • if all or any portion of the title to the property becomes vested in anyone other than the Borrower.

Terms and Conditions

  • Zero percent (0%) interest
  • No monthly payments due
  • No fees or charges (including application, housing counseling, or recording fees)
  • The loan is structured so the amount borrowed is only due when the first of the following occurs:
    • Borrower no longer occupies home as primary residence;
    • the property is sold, conveyed, transferred, assigned, encumbered, or mortgaged; or
    • if all or any portion of the title to the property becomes vested in anyone other than the Borrower.

Ready to buy that home?

PARTICIPATING LENDERS

Our network of approved Participating Lenders know our programs and can help you choose a loan that’s right for you.

RIHOUSING LOAN CENTER

Not sure where to begin? Contact one of our Mortgage Originators today to get started.