The Nevada Housing Division has launched the “Home is Possible” new home buyer program that provides qualified homeowners in Clark and Washoe counties a grant of up to 4% of the loan amount to be applied toward down payment and/or closing costs.
The general requirements of the program include:
- Homebuyer must purchase the home to occupy as the primary residence
- Minimum credit score of 640 for government insured loans; 660 for manufactured homes and 680 for conventional loans
- Home purchase price under $400,000
- Qualifying income on mortgage application must be below $95,500
- Borrowers must take an approved home buyer education course
- Borrower must meet the lender’s specific underwriting requirements
- There is no repayment obligation; no first-time home buyer requirement
See Home Is Possible Down Payment Grant Program for more details.
