Eligibility
- Be a first-time homebuyer purchasing a 1-4 family home or condominium in Rhode Island
- Have a minimum credit score of 620
- Complete a homebuyer education course (available through RIHousing)
- Obtain a RIHousing-funded first mortgage through a Participating Lender or the RIHousing Loan Center
- Occupy the home as your primary residence
Eligibility
- Be a first-time homebuyer purchasing a 1-4 family home or condominium in Rhode Island
- Have a minimum credit score of 660
- Complete a homebuyer education course (available through RIHousing)
- Obtain a RIHousing-funded first mortgage through a Participating Lender or the RIHousing Loan Center
- Occupy the home as your primary residence
- Purchase price of the home and your income must be within RIHousing Price and Income Limits
Terms and Conditions
- Up to 6% of the purchase price, or $20,000, whichever is lower
- Interest rate on an Extra Assistance loan will be the same as the interest rate on your RIHousing first mortgage
- No fees or charges
- An Extra Assistance loan is a second mortgage lien on your home
- 15 year term
Terms and Conditions
- Up to 6% of the purchase price, or $20,000, whichever is lower
- Zero percent (0%) interest (or: In most cases, the interest rate on an Extra Assistance loan will be the same as the interest rate on your RIHousing first mortgage.)
- No fees or charges
- An Extra Assistance loan is a second mortgage lien on your home.
Available Today!
Extra Assistance is only available in conjunction with a RIHousing first mortgage, available through our network of Participating Lenders and the RIHousing Loan Center.
