FirstGenHomeRI, First-Generation Homebuyer Assistance

About This Program

FirstGenHomeRI provides $25,000 in forgivable down payment and closing cost assistance (0% interest, no payments, forgiven after 5 years) to first-generation homebuyers in targeted Rhode Island communities including most of Providence (zip code 02906 excluded). Eligible buyers must be purchasing their first home, or their parents lost a home to foreclosure/short sale and don't currently own. Must use a RIHousing first mortgage and complete homebuyer education.

$25,000 forgivable grant: 0% interest, no payments, forgiven after 5 years if owner-occupied.

Key Details

• $25,000 for down payment and closing costs; 0% interest, no monthly payments
• Forgiven after 5 years if you own and live in the home
• First-generation buyer: first in family to buy, or family lost home to foreclosure
• Available in most Providence zip codes (02906 excluded)
• Requires credit score 660+, RIHousing first mortgage, and homebuyer education

How to Apply

Deadline: Ongoing; apply through RIHousing-approved lender