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Home is Possible Down Payment Money Program

Home is Possible Down Payment Money Program is a loan program from The State of Nevada Housing Division. There are several different programs aimed at home buyers in Nevada. Teachers, Active Duty Military, and anyone else that qualifies for a home loan can use this program. Usually a home buyer can get up to 5% of the sales price (Under $400,000.00) to use as part of their down payment and or use towards closing costs as well. Most real estate transactions here in Las Vegas that I have been a part of I tell my clients to factor in 6.5% of the sales price for a Home Inspection, Home Warranty and other related out of pocket costs that come up during the transaction.

As with anything in Real Estate, I am here to help you find your home and help you navigate through all of the home buying process. I have several different loan officers I work with that can assist you with the Home is Possible Down Payment Money Program. They have the details and how to qualify for this amazing loan program. If you are in the market to buy a home, this program may help you find your perfect home.

Here are some of the guidelines that need to be followed if you decide to use the Home is Possible Down Payment Money Program :

Key Benefits:

  • Non-repayable money up to 5% of the loan value
  • Usable for down payment and closing costs
  • Attractive 30-year interest rate
  • No first-time homebuyer requirement
  • Financing available for manufactured homes
  • Statewide program

Program Requirements:

  • Qualifying income must be below $95,500
  • Home price below $400,000
  • Minimum credit score of 640
  • Homebuyer must live in home as primary residence
  • Homebuyer education course required
  • Must meet standard underwriting requirements
  • One-time fee of $675

Here are a few flyers to check out for specific programs, they can be downloaded if you click on them:

Home-is-Possible-Flyer-Teachers

Home-is-Possible-Heros-Program

Bonus-Money-Flyer

Questions? Ask Michael