Uncategorized June 11, 2025

downpayment assistance

How to make it easier to get the first and hardest part of buying a home your downpayment. You can save 20% and get a conventional loan or you can apply RIHousing Extra Assistance Program.  A faster way to home ownership is to get a 3.5%  DPA loan. You must be a first time buyer which be someone who hasn’t owned a home in three years prior to the purchase, applies to spouses in a marriage where either partner has not owned a home in the preceeding three years. You can buy a multifamily of 1-4 home,condo,single family home. There are income requirements for the 3.5% down but not for a conventional loan. The $ 15,000 DPA loan does not require payments until the house is sold, Apply at  a paticipating lender and I have some recommendations at 401-450-1480 or you can call RIhousing loan center at 401-450-1321.