Homeowner Assistance Fund Rhode Island

Last Updated: 07/26/2021

Please Note:
This program is not yet open for applications.

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The COVID-19 pandemic has resulted in thousands of Rhode Island homeowners falling behind on their mortgage payments and housing-related expenses. RIHousing will soon launch the Homeowner Assistance Fund Rhode Island (HAFRI) program, which will help eligible Rhode Island homeowners remain in their homes.

 We understand the urgency to provide Rhode Islanders with the help they need. We expect the program to open in August 2021 pending U.S. Department of Treasury approval of our program design and the release of the program funding. 

HAF Program Eligibility Requirements

Homeowner applicants must meet all of the following criteria to be eligible for assistance:

  • Your household income must meet certain income limits. Limits vary by household size. Click here to view Income Limits.
  • You must own and occupy a 1 to 4-unit dwelling located in Rhode Island
  • You must have purchased your home prior to March 1, 2020
  • You must have experienced a COVID-19 related financial hardship after January 21, 2020

    – A financial hardship is a material reduction of income or material increase in expenses
    – Unemployment of mortgagor or other household members who contributed significantly to household income prior to January 21, 2020 is considered an eligible hardship

  • Your original principal mortgage balance may not exceed $548,250

Frequently Asked Questions

Who is eligible for HAFRI?
Homeowner applicants must meet all of the following criteria to be eligible for assistance:

  • Your household income must meet certain income limits. Limits vary by household size. Click here to view Income Limits.
  • You must own and occupy a 1 to 4-unit dwelling located in Rhode Island
  • You must have purchased your home prior to March 1, 2020
  • You must have experienced a financial hardship after January 21, 2020Q
    -The hardship must be associated with the coronavirus pandemic
    – A financial hardship is a material reduction of income or material increase in expenses
    -Unemployment of mortgagor or other household members who contributed significantly to household income prior to January 21, 2020 is considered an eligible hardship
  • Your original principal mortgage balance may not exceed $548,250
What expenses can HAFRI assist with?
HAFRI can be used to assist with a range of housing-related expenses including:

  • Mortgage arrearages
  • Monthly mortgage payments
  • Principal reduction
  • Payment assistance for utilities, flood or mortgage insurance, property taxes, homeowner association fees, condominium association fees and other housing-related expenses
How much assistance could I qualify for?
Homeowners may be eligible to receive up to 24 months of assistance not to exceed $50,000 across all HAFRI programs.
My mortgage is in forbearance. Could I qualify for assistance?
You may be eligible for assistance if your mortgage is in forbearance or in deferred payment status.
Am I still eligible to receive assistance if I’m back at work?
Yes.

If you are back at work but still have outstanding housing related expenses you may be eligible for assistance. You may also be eligible if you have returned to work but are earning less than you used to.

Do I have to be behind on my mortgage payments to qualify for assistance?
No.

You may qualify for assistance even if you are current on your mortgage if you meet the program eligibility requirements.

Does this Program only assist borrowers with RIHousing mortgages?
No.

Any Rhode Island homeowner who meets the eligibility requirements above may be able to receive assistance.

I don’t need help with my mortgage, but I have fallen behind on my utility payments. Can I just apply for utility assistance?
To receive utility assistance through HAFRI, a homeowner must also be receiving assistance with mortgage payments, arrearages or principal reduction. If you are a homeowner seeking help for utility costs only, you may qualify for assistance under other programs such as LIHEAP. Click here to learn more.
I own and live in one unit of a multi-family property. My tenants haven’t paid their rent in months which has caused me to fall behind on my mortgage payment. Is there anything I can do now?
If you have a tenant who has fallen behind on their rent, you should apply right away for assistance under the RentReliefRI program. That program can pay for rent arrearages as well as up to three months of forward-facing rent. Both landlords and tenants can initiate an application.
When can I apply for assistance?
How do I apply for assistance?
Once HAFRI launches, you will be able to apply for assistance on the program website through a user-friendly, web-based application. Community partners will also be available to help homeowners who need help accessing or completing the application.
Will I receive assistance directly?
Generally, program assistance will be paid directly to your mortgage servicer, utility provider or other entity owed housing related costs.