Helping Nevadans Feel at Home
Home is Possible grant program helps make the dream of home ownership a reality for qualified Nevadans. Introduced in 2014, this program helps those who can afford a market rate mortgage, but whose savings fall short of the amount needed for entry costs. The grant amount is up to 5% of the loan amount covering down payment and closing costs. The grant never needs to be repaid.
Key Benefits
Fixed interest rate 30-year loan - current rate click here
No first-time home buyer requirement
Grant is non-repayable
Must be home buyer's primary residence
Available state-wide
No asset limits for home buyers
Now offering a 3% grant with government loan types and up to a 5% grant with conventional loan financing
Grants are based upon the loan amount and can be used for down payment assistance and/or closing costs.
Program Requirements
Minimum credit score of 640 for government insured loans, 660 for manufactured homes and 680 for most conventional loans
Qualifying income on mortgage application must be below $95,500
Home price below $400,000
Home-buyer education course required
Must meet normal government or conventional loan underwriting requirements
How to Get Started
Find an approved lender (link below)
Complete home buyer paperwork with the lender
Approved Lenders Information Provided by: http://housing.nv.gov/programs/FTH/Home_is_Possible/