Housing Opportunities for Homebuyers

We offer a variety of loan programs to assist low and moderate income residents in buying their first home.

Housing Loan Programs
Program eligibility guidelines and terms for the following loan programs:

• Down Payment/Closing Cost Assistance
  
  Purpose - To provide an incentive for qualified first and second-time homebuyers to purchase homes in Providence neighborhoods.

  Eligible Residential Properties
  Single-family and multi-family residences (including condominium units) located within the city limits of Providence are eligible.

  Financial Assistance
  Qualified eligible homebuyers may receive up to a $2,500 LOAN towards the down payment and/or closing cost for the purchase of a home. First-time homebuyers who meet application requirements and income eligibility limits will qualify. Financial assistance may also be available for any second-time homebuyer, provided that (a) all application requirements are met; (b) income eligibility limits are met; (c) that the borrower(s) will occupy the home as his/her/their primary residence; and (d) that the home is located within specified Census Tracts in the City of Providence.

  Financial assistance will be available on a first-come-first-served basis, until program funding is exhausted.

• City Employee Advantage Home Purchase Assistance
  Loans of up to $2,500 for down payment/closing cost assistance and mortgage rate reduction available to City of Providence employees with household incomes at or below 120% of median income with no closing costs, interest, or payments

Application Process
Information on how to apply for one of the above loans, including an on-line application form.

Contact Us
For more information, please contact Barbara Barone, Verfication Specialist:
Telephone: 401.680.8400
Email: bbarone@providenceri.com