Ocean State Grad Grant is a Huge Hit in Rhode Island

Ocean State Grad Grant is a Huge Hit in Rhode Island

 The Ocean State Grad Grant is helping college graduates make Rhode Island home by offering a special first-time homebuying grant.

The Ocean State Grad Grant:

• is available to qualified borrowers who have graduated within the last 36 months from an accredited academic institution
• up to $7,000 in down payment assistance
• can be combined with our closing cost assistance

Income Limits

To be eligible for the Ocean State Grad Grant program, your total annual household income must be less than $89,280 (for a 1-2 person household) or $104,160 (for a 3+ person household). 

Purchase Price

The forgivable down payment grant of up to $7,000 is available for 3.5% of a home’s purchase price. Grant is forgivable after 5 years of owning the home.

Availability

The Ocean State Grad Grant is available in conjunction with a Rhode Island Housing first mortgage, available through our network of Participating Lenders and Rhode Island Housing.

Of course there is a limited amount of grant money available, so act quickly. Contact a Realtor, local lender of RI Housing for more information or to see if you qualify.

Don't wait! The Ocean State Grad Grant is a Huge Hit in Rhode Island.