Down Payment

First-Time Homebuyers

Home is Possible Down Payment Assistance
The Nevada Housing Division Home is Possible Program is a grant program to help qualified Nevadans become home owners. The program is not specifically for first time home buyers, but is a great option. The down payment assistance grant amount can be as much as 5% of the loan amount, to be used for covering down payment and closing costs. Some program requirements include a minimum credit score of 640, income below $95,500, and home price below $400,000.

First Time Homebuyer
The Nevada Housing Division First-Time Homebuyer Program offers to low- and moderate- income first time homebuyers fixed interest rates 30-year loans with additional assistance available for down payment and closing costs.

Mortgage Credit Certificate program (statewide)
NHD is partnering with Nevada Rural Housing Authority to offer qualified first time buyers throughout the state participation in the Mortgage Credit Certificate program. The program gives a federal income tax credit equal to 40% of the interest paid on a mortgage loan each year.

A Home of My Own
Through A Home of My Own, a program of the Financial Guidance Center, low-to-moderate income households may qualify for down-payment and closing cost assistance for the purchase of their first home. All programs are on a first-come first-served basis and there is no guarantee of funds availability.

Home At Last Program (rural Nevada only)
For many households, the Home At Last™ programs have offered them the only realistic home financing option. Nevada Rural Housing Authority (NRHA) provides qualified rural Nevadans with a secure, competitive mortgage along with considerable down payment assistance. Currently, NRHA administers three Home At Last™ home financing programs–Access, Mortgage Credit Certificate (MCC) and WISH.


Distressed Homeowners

Nevada Home Retention Program
The Home Means Nevada Home Retention Program is designed to assist individuals and families at risk of losing their homes. The program will purchase a pool of underwater, delinquent Nevada mortgages at a discount using funds from federal sources and the national mortgage settlement agreement. Working with the homeowner, the program will aim to refinance the loan at current market value, eliminating the underwater portion and giving the homeowner an opportunity to start building equity. If a homeowner is unable or unwilling to participate in the refinance, transition assistance will be provided. The home will be resold to eligible owner-occupants. This program is not open to applications. Homeowners will be notified if their loan has been purchased by the program.

Nevada Hardest Hit Fund
Nevada was selected to be one of the first states' to receive fund from the U.S. Treasury's "Hardest Hit Fund." The State of Nevada was awarded more than $150 million in funds available to assist qualified homeowners. Home Again Home Again is a new program that makes it easier for homeowners in Nevada to determine what state or federal assistance may be available to them with a single “one-stop” free resource. Initiated by Nevada Attorney General (AG) Catherine Cortez Masto, the “Home Again Nevada Homeowner Relief Program” is designed for:
Homeowners seeking loan modification
Borrowers who are current, but “underwater”
Those who have lost their homes to foreclosure
Households working toward homeownership

Making Home Affordable
More than a million homeowners have been helped by MHA programs. Homeowners in MHA modifications (HAMP) are typically saving more than $500 each month. And now, there are new opportunities for help.