Together with Governor Dan McKee, RIHousing is pleased to announce the launch of the new RI Statewide DPA Grant Program offering $17,500 grants to assist with down payment and/or closing cost assistance.

The program is being funded with $30 million of the $250 million in federal American Rescue Plan Act (ARPA) State Fiscal recovery funds earmarked to address housing issues in Rhode Island. RIHousing will serve as the administrator of the program.

This program aims to put homeownership opportunities in reach of first-time homebuyers who face increased challenges due to rising housing costs by addressing one of the biggest barriers to owning a home in today's competitive market: the down payment.

To qualify, you must:

•  Be a first-time homebuyer* purchasing a 1-4 family home or condominium in RI
• Have a minimum credit score of 660
• Meet RIHousing income limits**
• Complete a homebuyer education course (offered online or virtually through RIHousing  or through a RI-based, non-profit, HUD-approved counseling organization)
• Obtain a RIHousing-funded first mortgage through a participating lender or RIHousing’s Loan Center
• Occupy the home as the primary residence

 The down payment assistance is a grant that does not need to be repaid.

 Visit www.ristatewide-dpa.com or call 401-450-1391 for more information.

* A first-time homebuyer is defined as an applicant who has not owned a home as their primary residence in the past three years 

**Income limits: currently $112,555 (1–2-person household) or $129,438 for a (3+ person household). Note: Income limits are subject to change.

This project is being supported, in whole or in part, by the State Fiscal Recovery Fund (federal award number SLFRP0136) awarded to the State of Rhode Island by the U.S. Department of the Treasury.