Things You Need to Know Before Buying Your First Home in Rhode Island

If you are thinking of moving to Rhode Island, there are a few things you need to know about. Did you know the state of Rhode Island does not provide a first-time buyer grant program for its residents? What is provided for residents is a program called “FirstHomes” program? This is a program that offers you 100% financing. With this program, you will not need a down payment. ”Beyond First Homes” is another program you should know about. This program does not require you to be a first-time buyer. They also have a low-down payment requirement. Lastly, the program called the “LastingHomes” is offered for those who are looking to prepare a home. Perhaps you have found a foreclosure and need help fixing it up. These programs do have eligibility requirements and limitations. All you need to do is investigate to see which program is the best fit for you. There is more good news, which is that the federal government offers grant assistance for first-time home buyers in Rhode Island. This program is maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program. You can find more information about this program by visiting, HUD Grants.

When applying for assistance or any of the programs above you must remain patient. This process takes time. It would be in your best interest to have a real estate agent who is familiar with these programs.

You will discover that Rhode Islanders do not seem to leave the state that often. Although the state is the smallest state in the nation it has so much to offer such as amazing beaches, history, nationally acclaimed restaurants, and more. What are you waiting for? It is time to pack up the moving truck and start a new adventure with your family in the great ocean state.

At Keller Williams Next Move Realty, our experience is your advantage. We welcome you to comment below with any questions you have about your Rhode Island property!

Things You Need to Know Before Buying Your First Home in Rhode Island

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