The Nevada Home is Possible program provides a down payment grant along with a competitive fixed mortgage rate. This grant, which can total up to 4% of the loan's value, never needs to be repaid. It is free money to help the homebuyer achieve the dream of homeownership.
Provides a grant up to 4% of the home loan amount that can used for down payment assistance or closing costs
Fixed interest rate 30-year loan
No first-time homebuyer requirement
Grant is non-repayable
No asset limits for homebuyers
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
Homebuyer education course required
Must meet normal government or conventional loan underwriting requirements
Homebuyer must live in home as primary residence
National residential mortgage lender PrimeLending has announced the lauch of the Neighborhood Closing Cost Assistance Program. This is designed to promote homeownership through closing costs assistance. Eligible loan types are conforming, convential, FHA and USDA programs.
Qualified homebuyers may receive up to $1,500 in closing costs assistance based on either of the following criteria:
Property must be located in a Low-to-Moderate Census Tract (LMIT); or
Homebuyer's income is equal to or less than 80% of the Area Median income for the property location
Click here to contact a branch office near you for more information.