I attended a recent presentation about home buyer assistance programs through Nevada Housing Division and Nevada Rural Housing Authority. I thought it was important to call your attention to the benefits and qualifications for these programs. Money may be easier to come by than you thought!


Click Below To See If You’re Eligible:



NV Housing Division’s homebuyer program is called “Home is Possible.  It is a GRANT program for buyers in Washoe County and Clark County.  A grant never needs to be repaid; it’s FREE MONEY!  This money can be put toward a down payment or closing costs. The grant can total up to 4% of the home loan value on a home priced below $400,000 (This would be $12,800 on a $320,000 loan).  This is still above the median priced home in Washoe County. There is NO first-time homebuyer requirement and no asset limits for homebuyers.  The grants are funded privately; they are not government funds.

Requirements are:

  • Minimum credit score of 640 for government insured loans (FHA,VA), 660 for manufactured homes and 680 for most conventional loans.
  • Qualifying income must be BELOW $95,500.
  • Home price below $400,000
  • Home will be the primary residence
  • Complete home buyers education course
  • Must meet normal loan underwriting requirements (you need to “qualify” for the loan)

Your lender will take care of all the details.  You can email me for a list of approved lenders or go to www.housing.nv.gov.


The NV Rural Housing Authority is in charge of two current “Home At Last” programs –  “Access Down Payment Assistance” and the “Mortgage Tax Credit”.  Each of these programs requires that the home be the buyer’s primary residence and completion of a homebuyer’s education course. They can be used separately or jointly. The “Mortgage Tax Credit” program can be combined with the above “Home Is Possible” program.  The “Mortgage Tax Credit” program is available statewide and “Access Down Payment Assistance” is available in areas with populations under 150,000 (Sparks qualifies, Reno does not).

    “Access Down Payment Assistance” offers down payment grants up to 5% of the mortgage amount, competitive 30 year fixed mortgage rates and there are no asset limitations. First time home buyer not required.  Requirements are:

  • Buyer must meet minimum credit score requirements and normal FHA, VA, USDA RD or Fannie Mae HFA Preferred Conventional underwriting requirements
  • Qualifying income must be BELOW $95,500
  • Home price below $400,000
  • Maximum buyer “debt to income” ratio is 45%

    “Mortgage Tax Credit” provides a federal income tax credit of either 40% or 20% of the interest paid on the mortgage loan each and every year for the life of the loan, as long as the buyer lives in the home.  The average annual tax savings is $2,000.  Buyers must not have owned a home in three years.  There are special terms for veterans.

Requirements are:

  • Buyers must not have owned a home in the past three years
  • Must meet normal FHA, VA, USDA RD or Conventional underwriting requirements
  • Income limits range depending on household size and county

Here is an example from Nevada Housing Division of how this program can save “big bucks” :

  • Loan Amount:  $150,000
  • Interest Rate: 4.5%
  • Approximate Annual Interest:  $6,700
  • Tax Credit: 40% of mortgage interest
  • Savings First Year: $2,000 (Max $2,000 per year)
  • Savings Over 5 Years:  $10,000
  • Total Savings Over Life of Loan:  $44,700

Imagine what the savings would be if you combined two of the above programs!

Find out if you qualify for these great programs and FREE MONEY by clicking on the link below.  (This link is provided by the NV Rural Housing Authority and NV Housing Division).  Contact me for help finding a home that qualifies for these programs.  



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