This week the Nevada Housing Division launches its new “Home is Possible” down payment assistance program.
Berkshire Hathaway HomeServices Nevada Properties and its Nancy Storey Team are working to help Southern Nevada homebuyers apply for as much as $16,000 in assistance for down payment and closing costs.
“This is one of the best programs we have seen in Nevada, because the income limit is higher, requirements are minimal and the program is open to all of Clark County,” Storey said. “You can buy a home anywhere in Clark County to qualify for the program and up to $16,000 in grant money is available per home.”
Benefits of the program, which applies to all loans that closed after Sept. 22, include a 30-year fixed rate loan that includes assistance payment of as much as 4 percent of the loan amount for down payment and closing costs.
The program’s highlights include:
■ No requirement to be a first-time homebuyer.
■ All buyers must complete an approved online homebuyer education course.
■ 4 percent grant to be used toward down payment and/or closing costs — no repayment required.
■ Up to $95,500 qualifying income allowed.
■ 640 credit score for Federal Housing Administration and Veterans Affairs and 680 credit score required for conventional loans.
■ Up to $400,000 loan amount (no minimum).
■ Buyers must occupy the home within 60 days of closing
For more information, call 702-595-2656 or visit www.nancystoreyteam.com.
Berkshire Hathaway HomeServices Nevada Properties is a part of Americana Holdings, which includes operations in Nevada and Arizona. Together they comprise the third largest franchise in Berkshire Hathaway HomeServices’ global organization. Both are leaders in their respective markets with 21 offices and nearly 2,000 agents combined. Visit www.bhhsnv.com for details.