Down Payment Assistance Program Home Is Possible Down Payment Assistance Program page. The Home Is Possible grant program helps make the dream of home ownership a reality for qualified Nevadans.

Helping Nevadans Feel at Home
Key Benefits
Down Payment Assistance Program Requirements
- Down Payment Assistance Program – How to Get Started

Helping Nevadans Feel at Home

Down Payment Assistance Program

Introduced in 2014, this housing grant program helps those who can afford the monthly mortgage payments, but whose savings may fall short of the necessary down payment.

The Down Payment Assistance Program housing grant amount can be as much as 5% of the loan amount, to be used for covering down payment and closing costs.

For example, on a $ 200,000 loan amount, your down payment assistance housing grant, pending the qualifications specified below, may be as high as $10,000.

This Down Payment Assistance Program grant never needs to be repaid.

Key Benefits

Fixed interest rate 30-year loan – current rate click here
No first-time homebuyer requirement
Grant is non-repayable
Available state-wide
No asset limits for home ownership homebuyers
Now offering up to a 4% 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.
Can be combined with The Mortgage Credit Certificate (MCC) Program. For more information, click here

Down Payment Assistance Program Requirements

Minimum credit score generally 640 for government insured and most conventional loans
Qualifying income on mortgage application must be below $95,500
Home price below $400,000
Must be homebuyer’s primary residence
Homebuyer education course is required
Must meet normal government or conventional loan underwriting requirements
Effective February 1, 2016, manufactured housing loans will be available for government loans
One Time Fee of $675.00