RI REALTORS Homebuyer Grant

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 buyers who will live in the home as their primary residence.

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 buyers 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.

1. 1

   Take a homebuyer education course

   Required by the program, through RIHousing homebuyer education course.

2. 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. 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 buyer can take it to a lender or housing counselor.