Rhode Island Housing Extra Assistance Program
$20,000
Housing & HomeownershipFirst Time Homebuyer
About the Program
RIHousing’s Extra Assistance program provides down payment assistance to eligible first-time homebuyers in Rhode Island. The program is designed to help homebuyers with what is often the biggest hurdle to homeownership: the down payment.
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
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
Explore Communities Across Rhode Island
You've learned about the program. Now explore communities across Rhode Island to find the place that best fits your lifestyle and priorities.
On the Rhode Islan page you'll find:
- LookyLOO Reviews of Rhode Island Cities
- Neighborhood Guides
- Local Reviews
- Schools
- Lifestyle
- Save Rhode Island Cities to Your Movebook