1st Time Buyer Grants Available To You
First time home buyers in Rhode Island have many options available to them for help in purchasing their first residence. Among the most lucrative is an outright grant – a cash gift – to be used towards the purchase of your first property. Here’s some great news. Rhode Island Housing (RIH) offers a $7,000 grant for qualified first time home buyers in RI.
Rhode Island Grant Details
Here are some exciting details from the RIH website:
Graduate to your first home! The Ocean State Grad Grant is now available for new mortgage applications.
If you’re purchasing a home in Rhode Island, you could receive up to $7,000 toward your down payment!
Congratulations graduate and best wishes on your next adventure! If that adventure includes owning your first home, we have the tools and incentives to help. Our Ocean State Grad Grant program was developed to help you make Rhode Island your home.
The Ocean State Grad Grant is helping college graduates make Rhode Island home by offering a special first-time homebuying grant.
The Ocean State Grad Grant:
- is available to qualified borrowers who have graduated within the last 36 months from an accredited academic institution
- up to $7,000 in down payment assistance
- can be combined with our closing cost assistance
To get complete grant details, including income limits as well as how to get the application process started, please visit Ocean State Grad Grant Program.
More 1st Home Buyer Grants
In addition to the above grant offered by Rhode Island Housing, there are local housing agencies in various towns, cities and counties throughout the state that provide financial assistance to prospective 1st time property buyers as well. To find out about more additional grants available to you, please visit local first time buyer programs in Rhode Island.