Governor Dan McKee joined RIHousing to announce the launch of a new pilot program, FirstGenHomeRI, aimed at helping to open the doors to homeownership for first-generation homebuyers. The program targets first-generation buyers by addressing inequities and barriers to homeownership while boosting the long-term, economic outlook for families who have historically not pursued homeownership. Available to Rhode Island residents currently living in specific areas of the state, the pilot program offers $25,000 for down payment and closing costs.
“Access to homeownership opportunities has significant implications for family outcomes,” said Governor McKee. “Down payment assistance programs targeted at opening the doors to homeownership to first-generation buyers can help reduce the racial wealth gap and are a down payment on our future: the future of Rhode Island families and their ability to live and thrive in our state.”
“First generation homebuyers deserve the opportunity to put down roots in Rhode Island and benefit from the stability owning a home can provide,” said Lt. Governor Sabina Matos. “I’m honored to stand with Governor McKee as we make this announcement and support an effort that addresses the inequities and barriers to homeownership that exist for low-income and minority communities.”
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