RIHousing Loan Center

The RIHousing Loan Center has experienced professionals who can help first-time homebuyers navigate their path to homeownership. We also offer refinancing for current RIHousing mortgage customers.

RIHousing Loan Center

The RIHousing Loan Center has experienced professionals who can help first-time homebuyers navigate their path to homeownership. We also offer refinancing for current RIHousing mortgage customers.

15kDPA

RIHousing’s 15kDPA program provides $15,000 in assistance for down payment and/or closing costs in the form of a zero-percent (0%) interest rate loan to first-time homebuyers in Rhode Island.

FirstGenHomeRI

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

Extra

Assistance

RIHousing’s Extra Assistance program provides down payment assistance to eligible first-time homebuyers in Rhode Island to finance down payment and/or closing costs.

Move up

& Refinance Loans

Looking to sell your home and buy a new one?
Move Up loans require as little as 3% down!

RI Statewide DPA Grant Program

PROGRAM CLOSED

15kDPA

RIHousing’s 15kDPA program provides $15,000 in assistance for down payment and/or closing costs in the form of a zero-percent (0%) interest rate loan to first-time homebuyers in Rhode Island.

FirstGenHomeRI

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

Extra Assistance

RIHousing’s Extra Assistance program provides down payment assistance to eligible first-time homebuyers in Rhode Island to finance down payment and/or closing costs.

RI Statewide DPA Grant Program

PROGRAM CLOSED

Move up & Refinance Loans

Looking to sell your home and buy a new one?

Move Up loans require as little as 3% down!

HOMEBUYER RENOVATION
LOANS / 203(k)

  • Loan for borrowers purchasing a home that needs renovations
  • Finances the mortgage and renovations
  • 100% financing available (no down payment required)
  • Closing cost assistance available

Please Note: RIHousing’s Extra Assistance programs are only available with a RIHousing first mortgage. If you are currently working with a Mortgage Originator, please contact them directly to see if you qualify for this program.

Do’s and Don’ts of Homebuying

R

Do's

Keep important financial documents organized and accessible
  • Keep all originals and have access to all of your paystubs, bank statements and other important financial documents.
  • Make timely payment on all current debt obligations, including any car, student loan and/or credit cards
Notify your Mortgage Originator about your financial changes
Notify your Mortgage Originator:

  • prior to making any changes to your employment status such as changes to position or pay
  • any pay raises or transfers
  • any loss of income
  • if you plan on receiving gift funds for closing
Q

Don'ts

Make changes to your financial flow
  • Transfer any funds between your accounts without receiving the proper documentation
  • Deposit monies outside your payroll deposits, particularly from the sale of personal items, without proper documentation
Make financial changes that will impact your credit score
  • Open or increase any liabilities during your contract
  • Close or open any asset or credit accounts
  • Advance cash from any credit cards or borrow any funds
  • Miss contractual monthly payments on credit cards, student loans and/or car loans
  • Make any large purchases that could impact your credit score, required funds to close or assets

10 Steps to Homebuying

Swipe to learn about our homebuying process!

Find your dream home

Review and sign disclosure and order appraisal

Verify income and assets

Credit, income and assets evaluated

Loan commitment issued

Gather final documents to close on loan

Closing

Congratulations! Move into your new home!

MORTGAGE CALCULATOR

Wondering how much home you can afford? Find out now.

year(s)
per year
per year

Your total monthly payment

Principal & Interest
Home insurance
Property taxes
PMI
Interest rates are updated daily and are subject to change without prior notice.

Get Educated.

When you find the home of your dreams, we want you to be ready. Register for a class today.

  • Steps to Buying a Home, including the mortgage application process
  • Overview of RIHousing loan programs
  • Financial Considerations: credit, debt and planning for the future

Customers who are first-time homebuyers are required to take a Homebuyer Education class prior to closing on a RIHousing loan.

Need help?

Let us guide you though the Loan Center!