Loans for first-time homebuyers

RIHousing offers two loan options for first-time homebuyers: FirstHomes100 and FirstHomes100+. These mortgages are flexible, dependable loans to help you buy and keep the home that is right for you and your family. Whether you are looking to purchase a home that is in move-in condition or one in need of renovation these fixed rate, low interest loans are the best option for first-time homebuyers. Many first-time homebuyers may also be eligible for our FirstHomes Tax Credit – a federal tax credit that could save you as much as $2,000 a year for the life of your mortgage.

First-time homebuyer loans
If you’re buying your first home, then the FirstHomes100 loan is perfect for you. This loan offers low, fixed rate 30-year mortgages with options for no money down and closing cost assistance. 

First-time homebuyer loans, homes needing repairs
Our FirstHomes100+ loan is a great option for first-time homebuyers looking to buy a home in need of repairs. This loan offers all the great benefits of FirstHomes100 and allows buyers to roll repair costs into the life of the loan.

First-time homebuyer tax credit
Our FirstHomes Tax Credit is a great way to receive an additional benefit on a new home purchase. If you’re an eligible buyer purchasing your first home, you could receive a tax credit worth up to $2,000 a year for the life of your mortgage. The tax credit is available for select loan products.

Once you have taken some time to look through the options available to you as a first-time homebuyer, you can explore your next steps using the links below.


Take a Homebuyer Education class
Our Homebuyer Education classes are a great resource to help first-time homebuyers and anyone interested in buying a home learn more about the process. We offer both in-person and online classes, designed to meet the unique needs of homebuyers.

Complete a pre-approval application
Use the links below to access the pre-approval application and get started on this important step.

Pre-approval Application - English

Pre-approval Application - Spanish

Check current rates
We at RIHousing want you have all the information you need to make informed decisions about your home purchase. To help you do that, we post our current rates daily so you can view and compare them to find the loan that is right for you.

Contact a Mortgage Specialist or Participating Lender 
RIHousing’s Participating Lenders and trusted, trained professionals can help you understand what you can safely afford and the commitment you are making by becoming a homeowner.