Take a Homebuyer Education class and learn everything you need to know about buying and mortgage financing. Getting pre-approved
makes you a more attractive buyer and gives you greater negotiation power. Work with a certified real estate professional to find the home that fits both your needs and your budget. By completing this step, you will finalize the terms of your loan and agreement. RIHousing offers a range of mortgage options; learn more about which loan is right for you or
apply now. Complete the final requirements in the closing process and enjoy your new home! RIHousing’s new 10kDPA program provides a $10,000 down payment assistance loan to first-time homebuyers in Rhode Island.STEPS TO HOMEOWNERSHIP
Get Educated!
Get pre-approved
Find a home
Sign a contract
Apply for a loan
Close and become a homeowner!
10kDPA
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!
10kDPA
RIHousing’s new 10kDPA program provides a $10,000 down payment assistance 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!
There’s a lot of competition out there today. When you find the home of your dreams, we want you to be ready. Our Homebuyer Education classes will arm you with what you need to know.
Register for a class today and learn about:
- Steps to Buying a Home, including the mortgage application process
- Overview of RIHousing loan programs
- Financial Considerations: credit, debt and planning for the future
Homebuyer Education is available through virtual or online classes.
Customers who are first-time homebuyers are required to take a Homebuyer Education class prior to closing on a RIHousing loan.
MORTGAGE CALCULATOR
Wondering how much home you can afford? Find out now.
Ready to buy that home?
Our commitment to affordable homeownership
We're committed to helping homebuyers thrive through the power of homeownership. The Bank of America Community Homeownership Commitment® provides solutions for modest-income and first-time homebuyers, including affordable mortgages, grant programs, resources and expertise.
Affordable Loan Solution® mortgage
This mortgage offers
a 3% down payment and a competitive rate.
More homebuying help
Visit the Bank of America Down Payment Center to search for programs you may be eligible for, including the America's Home Grant and Down Payment Grant programs (available in select markets) plus other programs offered by state and local agencies, nonprofits and employers.
What are LTV and CLTV?
Loan-to-value ratio (LTV) is the total amount of your mortgage compared to the home's appraised value, expressed as a percentage.
The combined loan-to-value (CLTV) ratio is the ratio of all secured loans on a property to the value of a property.
What is a high-cost area?
High cost housing markets are designated by government sponsored enterprises, Fannie Mae and Freddie Mac, and represent markets where the average cost of housing is higher than the general market.