Rhode Island is launching a program to help first-time home buyers.
The RI Statewide Down Payment Assistance Grant offers over 17-thousand-dollars in down payment and closing cost assistance to eligible applicants.
The state is using federal funding from the American Rescue Plan Act.
“Homeownership is one of the most important ways to build generational wealth, yet Rhode Island has one of the lowest homeownership rates in the country, largely because families and individuals cannot afford the down payment,” said Governor McKee. “As we seize the moment to make significant investments in housing and in communities across the state, this down payment assistance program is an important boost for families looking to make their home in Rhode Island.”
“Providing this grant assistance to future homeowners is an additional step in addressing housing inequity within our state,” said Lt. Governor Sabina Matos. “I am optimistic that alongside Governor McKee, Secretary Pryor, and many state leaders we will deliver on our promise to create a brighter housing future.”
More information and how to apply online can be found at ristatewide-dpa.com.
Photo by ISABEL INFANTES/AFP via Getty Images)