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The Nevada Housing Division has a new down payment assistance program that offers a 30-year fixed rate first mortgage along with a no interest, no payment 15,000 forgivable second mortgage. This assistance is structured as a onetime up front forgivable loan in the amount of 15,000 and is forgiven at the end of 3 years or December 31, 2026, whichever occurs first.
How the Down Payment Assistance Program Works
To be eligible for this program, borrowers must meet the following criteria:
- The maximum purchase price is 570,000
- At least one borrower must be a Nevada resident for at least 6 months before reservation of loan
- The type of loan must be FHA, VA, Fannie Mae or Freddie Mac
- During the 3 years you can’t sell, refinance, or move out.
If you are interested in taking advantage of this down payment assistance program, now is the time to act. For more information and to get started on your application, please talk to your favorite lender today.
Why You Should Take Advantage of This Opportunity
With this down payment assistance program, you can get into a home with very little money out of your pocket. This is an incredible opportunity for Nevadans who have been dreaming of owning their own home but have been held back by the high cost of a down payment.
How to Get Started
If you think this program might be right for you, the first step is to talk to your favorite lender. They will be able to help you determine if you're eligible and walk you through the application process. Once you've been approved, the next step is to call Line x Line Realty and start shopping for your new home!
Conclusion
The Nevada Housing Division's new down payment assistance program is an amazing opportunity for eligible home buyers. If you've been thinking about purchasing a home but have been held back by the high cost of a down payment, now is your chance. Talk to your favorite lender today to see if you qualify and start searching for your dream home in the great state of Nevada!