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RI REALTORS Homebuyer Grant

RI REALTORS Homebuyer Grant is a grant for homebuyers in Rhode Island, administered by RIHousing in partnership with The REALTOR Foundation: Rhode Island.

Last verified Source: RIHousing in partnership with The REALTOR Foundation: Rhode Island
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The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through RIHousing homebuyer education course
  • Residency: Property must be in Rhode Island
  • Limited to ~50 grants; income under $92,080; requires a RIHousing-funded first mortgage; $2,000 tier requires veteran/active-military status.
  • A home in Rhode Island

It doesn’t cover

  • Households above $92,080

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

Income limit

$92,080 household income limit, as the program publishes it

The program states this limit itself. Its official site says how household size changes it.

Income limits in Rhode Island

Where it applies

Rhode Island’s homes

  • 55.7% single-family
  • 4% townhouse
  • 22.1% 2–4 units
  • 17.3% 5+ units
  • 0.9% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$404,200

Rhode Island median home value

70.9%

built before 1980

U.S. Census Bureau, ACS 2024 5-year.

How to apply

  1. Take a homebuyer education course

    Required by the program, through RIHousing homebuyer education course.

  2. Contact RIHousing in partnership with The REALTOR Foundation: Rhode Island to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

Questions about this program

What is RI REALTORS Homebuyer Grant?

RI REALTORS Homebuyer Grant is a grant for homebuyers in Rhode Island, administered by RIHousing in partnership with The REALTOR Foundation: Rhode Island. A limited-time grant (up to 50) of $1,000 for first-time buyers, or $2,000 for veterans/active military, immediately forgivable; requires a RIHousing first mortgage. $1,000 grant ($2,000 for veterans/active military). No monthly payments. Immediately forgivable. Pairs with other RIHousing assistance. Funding comes from State.

How much assistance does it provide?

RI REALTORS Homebuyer Grant offers between $1,000 and $2,000 in assistance. The program can be combined with RIHousing DPA product + RIHousing first mortgage. Amounts are the program's published maximums, not an offer — RIHousing in partnership with The REALTOR Foundation: Rhode Island determines any individual award.

Do you have to pay it back?

RI REALTORS Homebuyer Grant is structured as a grant, so it is not repaid. Repayment is triggered by None - immediately forgivable. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

RI REALTORS Homebuyer Grant is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through RIHousing homebuyer education course. Residency requirement: Property must be in Rhode Island. Limited to ~50 grants; income under $92,080; requires a RIHousing-funded first mortgage; $2,000 tier requires veteran/active-military status.

What are the income limits?

RI REALTORS Homebuyer Grant limits household income to $92,080. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

RI REALTORS Homebuyer Grant can be used for Single Family, Condo, and 2-4 Unit.

Is there eligibility for specific groups?

RI REALTORS Homebuyer Grant names veterans and active-duty service members among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

RI REALTORS Homebuyer Grant serves homebuyers purchasing anywhere in Rhode Island.

How do you apply?

Applications for RI REALTORS Homebuyer Grant go through RIHousing in partnership with The REALTOR Foundation: Rhode Island, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

Also for Rhode Island homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 73 programs for Rhode Island

Program terms are set by RIHousing in partnership with The REALTOR Foundation: Rhode Island and can change; confirm on the official site before you apply.