STATEWIDE PROGRAMS

Home at Last Downpayment Assistance

Assistance Available:
The Nevada Rural Housing Authority offers a customized assistance options to help residents become homeowners.

The Home at Last Downpayment Assistance program provides up to $24,000 to assist with downpayment costs. It comes in the form of a 3 year, 2nd mortgage that is 100% forgiven after you have lived in your home for 3 years. There are no payments and no interest on the provided assistance.

Qualifications:
You must purchase your home with a FHA, VA, USDA Rural Development, or Conventional HFA Preferred or HFA Advantaged loan through a Housing Finance Authority. There are no limits on the purchase price.

Home is Possible Program

Assistance Available:
The Nevada Housing Division administers the Home is Possible Program which provides up to 5% of the purchase price to assist with the cost of downpayment and closing. This is a 3 year forgivable loan as long as you live in your home for a minimum of 3 years. There is a one time fee of $675.

Qualifications:
You must have a minimum credit score of 640. You do not have to be a first time buyer, but you cannot own property at the time of closing. The qualifying income for government loans (FHA, VA, RD) is less than $98,500. The qualifying income for conventional loans (HFA Preferred) depends on the county in which the property is located. The maximum purchase price is $484,350. You must live in the home as your primary residence. There is financing for manufactured housing.