FirstGenHomeRI

Helping first generation homebuyers become the next generation of homeowners

FirstGenHomeRI opens the doors for first-generation homebuyers with $25,000 in down payment and/or closing cost assistance.

The FirstGenHomeRI program is a pilot program with limited funds. The funds will be extended on a first come, first-served basis to qualified homebuyers who have a Loan Commitment and a fully-executed purchase and sales agreement.

Eligibility

Qualify as a first-generation homebuyer

A first-generation homebuyer is defined as any person whose parents or guardian never owned a home during the homebuyer’s lifetime or lost the home to a foreclosure or short sale and does not own a home now. Anyone who lived in foster care also qualifies as a first-generation home buyer.

Currently reside in:

Central Falls, East Providence, Pawtucket, Woonsocket, Providence (excluding residents in zip code 02906), Newport (residents in census tract 44005040500 only)**

Be a first-time homebuyer purchasing a 1-4 family home or condominium anywhere in Rhode Island

**Newport resident? Check whether you are within the eligible census tract.

Terms and Conditions

  • Zero percent (0%) interest
  • No monthly payments
  • Forgivable after 5 years of owning and residing in the home***

*** The down payment assistance is a grant that does not need to be repaid if the homeowner keeps their home for five years as their primary residence.

Get Educated

Homebuyer Education is available via a network of HUD-approved counseling agencies. Please visit one of our partner agencies’ websites to learn more about the HUD-approved homebuyer education classes they offer and to register for a class.

Frequently Asked Questions

Why is the program available only to first-generation homebuyers?
Barriers to homeownership exist for many low income and historically marginalized borrowers, and especially for first-generation homebuyers. Traditionally, these borrowers compete with peers who may be able to tap into family wealth to purchase a home and benefit from the financial literacy that comes from growing up in a home your family owns rather than an apartment.
The program is targeted to communities with the highest level of need for increased homeownership opportunities. Factors such as median housing costs, household size, and income were used when determining eligible communities. Eligible communities are identified by zip codes that have a large enough aggregate area of concentrated poverty as defined by incomes below 80% Area Median Income (AMI).

The program is targeted at opening doors and creating opportunity for first-generation Rhode Island homebuyers and is available in communities that are socioeconomically distressed and have experienced declines in population and housing. Locations are primarily concentrated in urban areas, including Central Falls, East Providence, Pawtucket, Woonsocket, and parts of Providence (excluding residents in zip code 02906) and Newport (residents in census tract 44005040500 only).

Click here if you are a Newport resident and want to check whether your current residence is located in an eligible census tract. >

The program aims to boost the long-term, economic outlook for families who have historically not pursued homeownership, many of which may currently reside in eligible communities, which are composed primarily of renters.

If you are purchasing the home on your own, you may be eligible for the program. If your fiancée will be a co-borrower on your mortgage loan, then you will not be eligible as applicants must be first-time buyers who meet the program’s eligibility standards.
Yes, you may use funds for the property’s down payment and/or mortgage closing costs.
Studies and our experience suggest that Homebuyer Education is the first step toward successful homeownership. These HUD-approved classes – taught by trusted community partners – provide an in-depth look at the responsibilities of homeownership and help buyers prepare for homeownership. Our goal is to help people buy a home and have the resources and knowledge to keep it.

Yes, RIHousing offers an array of mortgage programs to help first-time homebuyers, including down payment assistance. Visit: https://www.rihousing.com/buyers/ for more details.

No. You will only need to take one of the HUD-approved Homebuyer Education courses offered by one of our partners.

If you are purchasing a multi-family unit or purchasing through our Homebuyer Renovation 203(k) Loan, you must also complete the Landlord-Tenant or the 203k Homebuyer Education required by the loans.

Click here to learn more about these classes >

Yes. Homebuyer education is a critical first step to ensure homebuyers are successful homeowners. The classes offered by our trusted partners provide a more extensive level of education on the homebuying process, financial literacy and responsibilities of owning a home and include a one-on-one counseling component.

No, the program is a pilot and currently only offered via RIHousing’s Loan Center.

Ready to buy that home?

This program is currently only available through our RIHousing Loan Center.

Get Started Today

Questions about the program?

FirstGenHomeRI Brochure

Helping first generation homebuyers become the next generation of homeowners.

Download the Brochure

Healthy Housing, Healthy Communities (H3C) Initiative

RIHousing Healthy Housing, Healthy Communities (H3C) Plan
Rhode Island Health and Housing Tool Kit
Rhode Island Health and Housing Took Kit – Appendix A-K

Are you a Newport resident?

Check whether your current residence is located within an eligible census tract.

Newport-Census-Map

Only residents of census tract 405 are eligible for the FirstGenHomeRI pilot program.

The map on the left shows the approximated eligible region.

Unsure if your address is part of the eligible region?

Type in your address below to find out (Include street #, street name, Newport, RI).

Data mapped by PolicyMap, an online GIS mapping tool.

Do you live in Central Falls, Pawtucket, Newport or East Providence?

Check whether your current residence is located within an eligible census tract for application prioritization.

Applications from residents who live in the census tract listed below are prioritized.

Central Falls 44007010900, 44007010800, 44007011100, 44007011000
Pawtucket 44007016000, 44007015300, 44007015100, 44007015200, 44007015500, 44007016600, 44007016700, 44007017000, 44007017100, 44007016100, 44007016400
Newport 44005040500, 44005041100
East Providence 44007010100, 44007010501

Type in your address below to learn if you are in the targeted area. (Include street #, street name, city, RI).