PROVIDENCE – First-time home buyers are plunging into the Rhode Island market in increasing numbers. The state had the largest amount of growth in first-time home buyers between 2003 and 2013, up by 97 percent, according to data published by GoBankingRates.com, based on National Association of Realtors information.
The state had a wide gap between the typical mortgage payment, of $1,030, and the average rental, at $1,400, according to the website. The median sale price of a house was $217,625.
The website cited the state’s FirstHome lending program as a contributing factor. It provides assistance with closing costs and can qualify home buyers for tax credits, as well.
Other New England states that had large increases in first-time buyers over the ten-year span included Massachusetts, Vermont and New Hampshire.
No posts to display
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.