Down Payment Assistance Programs

Down payment assistance programs allows home buyers that would otherwise be unable to purchase the home. With affordable home prices in Las Vegas, a down payment should not keep you from buying the home of your dreams.

We are an approved lender for the Down Payment Assistance Programs and have closed hundreds of loans that required down payment assistance.

CLICK HERE >> Check Your Eligibility 

DPAassistbox

We will counsel you through the application process for all DPA and Grant programs!

  • Every homebuyer will be required to take a homebuyer education class
  • Additional time may be needed to close the loan; typical closing time is approximately 35 days
  • Typically must be a first time homebuyer that has not owned a home in the past 3 years
  • The home can not be an investment purchase and must be the homebuyers primary residence
  • Borrower must be qualified by the down payment agency and their guidelines
  • All household members must be legal residents of the United States for participation in any program
  • All down-payment programs base income on total household income, not just borrower income
  • All mortgages must be fixed-rate 30 year Conventional or  fixed-rate 30 year FHA loan
  • All down payment assistance programs are based on availability of funds

 

NV Housing Division – Home is Possible : Up to 4% of Loan Amount

  • Must be primary residence
  • No first time homebuyer requirement
  • No asset limits for homebuyers
  • 640-660 FICO, Max Income Limits to $98,500 per year
  • Homebuyer education class completion needed
  • Eligible Area: Washoe and Clark Counties
  • Funds can be used towards down payment, closing costs, and principal reduction
  • Forgivable after 3 years
  • More Information from NHD: click here

Culinary/Bartenders Housing Partnership Program

Available to eligible members of Culinary Union Local 226 or Bartenders Union Local 165 – You must also have at least 2,000 hours of service to be eligible for this benefit.

  • Maximum Amount = $20,000 at 0% interest rate
  • Up to $10,000 for closing costs and principle reduction on FHA.  Up to $20,000 for closing costs and principle reduction on Conventional.
  • No repayment on the loan unless you sell the house or refinance. If you sell or refinance, you pay the loan back at face value with no interest charges.
  • Deferred payments
  • Available to eligible members of Culinary Union Local 226 or Bartenders Union Local 165
  • The home must be your primary residence
  • You cannot have owned a home in the past three years
  • You must invest at least 1% of the sales price (conventional) or 3.5% (FHA)
  • Income limits apply: $83,750 for a 1-to-2 person household, and $105,350 for a 3+ person household
  • You need to complete education classes and a counseling session (at no cost to you)
  • Approved education provider 

NV RURAL – Home at Last : Up to 5% of Loan Amount

  • Please Note: Program available only in cities under 150k population. See Geographic Coverage
  • Must be primary residence
  • 640-660 FICO, Max Income Limits, Homebuyer class completion
  • Max income limits apply
  • Eligible Area: Several Nevada Counties
  • Funds can be used towards down payment, closing costs, and principle reduction
  • Funds do not need to be paid back
  • NO first time homebuyer requirement
  • If you are a first-time homebuyer, you may also qualify for the Home At Last Mortgage Tax Credit (MTC) Program
  • More Information from NV Rural: click here
  • Homebuyer approved education providers

WISH : Up to $15,000

  • Must be primary residence
  • 640 FICO, Max Income Limits, Homebuyer class completion
  • Eligible Area: No areas specified
  • Funds can be used towards down payment, closing costs and principle reduction
  • Funds do not need to be paid back
  • Funds are limited, check to see availability

Tax Credits – Nevada Rural Housing Authority (NRHA) / Nevada Housing Division (NHD) Home At Last Mortgage Tax Credit (MTC) Program

  • Credit is given to the homebuyer every year as long as they live in the home
  • Increases buyer’s disposable income and purchasing power
  • The MCC/MTC fee is waived for all active duty first time homebuyers and National Guard service personnel, and those honorably discharged from the military
  • Program Flyer

 

 Contact Us for more information!