RIHousing’s new RI-Refi program
is now available to help homeowners who owe more than the current market value
of their home to refinance into a new loan. Eligible homeowners can get up to
$75,000 (forgivable over three years) to reduce the amount owed on any mortgage.
In order to be eligible for the program, homeowners must
meet the following qualifications:
- Must owe more than 110% of the home’s current value
- Live in the home as primary residence
- Current on mortgage for the last 12 months
- Qualify for a new RIHousing first mortgage
- Meet RIHousing loan and income limits
- Minimum credit score of 640
- First and second mortgage balances are eligible
The RI-Refi program is available statewide through RIHousing’s
network of participating lenders and the RIHousing Loan Center. Connect
with one of them today for more details:
