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Home buyer help · Rhode Island

Buying a home in Rhode Island: the help you may qualify for.

Down payment assistance, property tax exemptions and veteran benefits in Rhode Island, gathered from official state sources and explained in plain English. Every program has its own rules, so check with the agency before you count on it.

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Last checked November 12, 2026Sources state agencies

Down payment and closing cost help

From the RIHousing.

  • $15K Down Payment Assistance

    $15,000

    A 0% loan for down payment and closing costs, for first-time buyers. Credit score 660+.

  • FirstGenHomeRI

    $25,000

    For first-generation buyers buying in Central Falls, East Providence, Newport, Pawtucket, Providence or Woonsocket.

Who qualifies: Income and price limits, homebuyer education, through a RIHousing participating lender.

Property tax exemptions and credits

Exemptions lower your home’s taxable value or your bill. Most aren’t automatic: you apply with your city or town assessor. Rhode Island’s official exemptions information.

No exemption for every homeownerRhode Island doesn’t have a statewide property tax exemption for every homeowner. Its benefits are for the groups below. Some cities and counties add their own, so ask your city or town assessor.

For homeowners 65 and older

  • Property tax relief credit

    Up to $700 (2025 tax year)

    For Rhode Island residents 65 or older or disabled, with household income of $40,730 or less (2025). Rhode Island has no statewide homestead exemption, but many cities and towns, including Providence, offer their own.

    How to apply: Form RI-1040H, by April 15. (Rhode Island Division of Taxation)

  • Local senior, veteran and disability exemptions

    Amounts your city or town sets

    Each city and town sets its own exemptions for seniors, veterans, people with disabilities and surviving spouses.

    How to apply: With your city or town assessor. (Rhode Island General Laws ยง44-3)

Want to see which ones fit you? Answer a few questions in the property tax exemptions checker.

If you serve or served

  • VA home loan: available in every state, often with no down payment and no monthly mortgage insurance. You’ll need a Certificate of Eligibility. See VA home loans.

Your next steps

  1. Work out a monthly cost you’re comfortable with in the home cost calculator. It also lists Rhode Island’s programs with the loans you may qualify for.
  2. Talk with a free or low-cost HUD-approved housing counselor. Find one near you.
  3. Ask each lender which of these programs they work with, and compare Loan Estimates from at least three.
  4. Follow the step-by-step home buyer’s guide from budget to keys.

Common questions

Does Rhode Island have down payment help for home buyers?

Yes. Programs from RIHousing include $15K Down Payment Assistance, FirstGenHomeRI. Income and price limits, homebuyer education, through a RIHousing participating lender. Funding and rules change often, so check with the agency or a participating lender.

Does Rhode Island have a homestead or property tax exemption for homeowners?

Rhode Island doesn't have a statewide exemption for every homeowner. Its property tax benefits are for groups such as seniors, veterans and people with disabilities. Ask your city or town assessor about local programs.

Is there help for veterans buying a home in Rhode Island?

VA home loans are available in every state, often with no down payment.

Sources: RIHousing and Rhode Island’s property tax office, linked above. Last checked November 12, 2026. Programs, amounts, income limits and funding change often, sometimes every year. Know Before You Own doesn’t recommend lenders or take referral fees. This page is general education, not legal, tax or lending advice. See other states.