Are you dreaming of owning your first home in the Ocean State but feeling sidelined by upfront costs? There is great news for Rhode Islanders today.As of March 10, 2026, the Realtor Foundation:
New $50,000 Homebuyer Grant Reopens for Rhode Island Families
Dated: March 10 2026
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Are you dreaming of owning your first home in the Ocean State but feeling sidelined by upfront costs? There is great news for Rhode Islanders today.
As of March 10, 2026, the Realtor Foundation: Rhode Island and RIHousing have officially launched the second round of the RI Realtors Homebuyer Grant. Following a highly successful 2025 pilot that helped 49 local families achieve the dream of homeownership, an additional $50,000 in funding has been committed to help more residents bridge the gap between renting and buying.
What is the RI Realtors Homebuyer Grant?
The program is a strategic partnership designed to combat the housing crisis in Rhode Island. By providing immediately forgivable grants, the initiative targets the two biggest hurdles for first-time buyers: down payments and closing costs.
Note: These funds are distributed on a first-come, first-served basis. If you are looking to buy in Warwick, Providence, Cranston, or anywhere across the state, acting quickly is essential.
Grant Details & Eligibility Requirements
To ensure these funds reach those who need them most, the program has specific eligibility tiers based on income and military service:
| Applicant Type | Grant Amount | Income Limit (Max) |
| First-Time Homebuyer | $1,000 | $92,080 |
| Veterans & Active Military | $2,000 | $92,080 |
Key Benefit: Unlike some assistance programs that require residency for a set number of years, these grants are immediately forgivable, providing instant equity and peace of mind.
Expert Perspectives on the RI Housing Market
The program’s leadership emphasizes that this isn't just about a one-time check; it's about building long-term generational wealth for Rhode Islanders.
Philip Tedesco, CEO of the RI Association of Realtors, highlights the broader goal:
"Our goal is to see a strong housing economy, where more prospective homebuyers are able to achieve housing stability and build long-term wealth."
Carol Ventura, CEO of RIHousing, echoes the sentiment, noting that the agency is ready to help residents "make the leap" into homeownership by administering these funds alongside their other robust programs.
Stacking Your Savings: Other RIHousing Programs
One of the best ways to maximize your buying power in Rhode Island is to explore "stacking" this grant with other existing RIHousing initiatives. If you qualify for the Realtor Foundation grant, you may also want to ask your lender about:
15kDPA: Significant down payment assistance for qualified buyers.
Extra Assistance: Flexible options for closing costs.
FirstGenHomeRI: Targeted support for first-generation homebuyers.
How to Apply Today
Because funds are limited, Rhode Island residents are encouraged to start the application process immediately. You can find full details and application portals at:
Next Step: To secure your spot, contact the RIHousing Loan Center or an RIHousing Participating Lender today to verify your eligibility and start your pre-approval process.RIHousing Loan Center
~Keith Antaya
Keith Antaya
Introducing Keith, a dedicated and highly motivated real estate agent who has been helping clients achieve their real estate goals since 2019. With a laser focus on delivering exceptional results, Kei....
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