PROVIDENCE – Rhode Island Housing announced the return of the “First Down” program along with Providence Mayor Jorge O. Elorza and Warwick Mayor Scott Avedisian Friday.
The program provides $7,500 in down payment assistance to first time homebuyers in Cranston, East Providence, Pawtucket, Providence, Warwick and Woonsocket,
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To date, more than 280 homebuyers have benefited from the program.
“One of the biggest goals for many Providence families is owning their own home,” said Elorza. “It is exciting that over 200 first-time home buyers in the Capital City have registered for First Down. Thank you to Rhode Island Housing for helping so many families realize their dreams.”
Rhode Island Housing expects to help an additional 800 families with the return of the program.
“The initial round of our First Down program has been a tremendous success, with more than 280 Rhode Island families already closing on loans with this down payment assistance,” said Barbara Fields, executive director of Rhode Island Housing. “Our state’s real estate market is improving, but that means prices are rising – and Rhode Island is already facing a severe housing shortage. The First Down program has literally made homeownership possible for many families who would otherwise still be sitting on the sidelines. We are thrilled to be able to help even more Rhode Islanders buy homes, which in turn strengthens our communities and grows Rhode Island’s economy.”
Chris Bergenheim is the PBN web editor.
