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State down payment assistance program available

Nancy Story Team helps homebuyers receive thousands in down payment and closing costs through Nevada Housing Division’s “Home Is Possible” program.

Kathleen Simon knows about money. The finance and accounting professional researched all of her options to purchase her first home, with the help of Nancy Storey and her team at Berkshire Hathaway HomeServices Nevada Properties. Simon was applied for and received 4 percent of her loan price for down payment and closing costs through the Nevada Housing Division’s “Home is Possible” program.

The program is open to all prospective homebuyers in Clark County. They can apply for a 30-year fixed rate loan that includes assistance payment of up to 4 percent of the loan amount for down payment and closing costs. Up to $16,000 in assistance per loan is available, or up to a maximum of 4 percent of the total loan.

“This is my first home,” said Simon. “I thought it was the perfect time to buy. There are houses available and prices are good. I wanted to take advantage of this program while it was still open.”

According to Simon, applying for the “Home Is Possible” program was easy. “They verify your income and make sure you qualify for the program,” she said. “It is very simple. I qualified for 4 percent, based on the loan amount, and it went straight to the lender for my down payment and part of my closing costs.”

Simon’s 1,230 square foot home in southwest Las Vegas is in a gated community and includes three bedrooms, 2½ baths and a single-car garage.

“It feels great to be able to help people who may not have thought they could ever become homeowners,” said Nancy Story, longtime real estate sales executive with Berkshire Hathaway HomeServices Nevada Properties and leader of the Nancy Storey Team. “Sometimes the only things that hinder first-time homebuyers are the down-payment and closing costs requirements. With help from the Nevada Housing Division, many people can become homeowners for about the same or even less than what they are spending every month in rent.”

The Nevada Housing Division’s “Home Is Possible” program is open to all homebuyers in Clark County.

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 FICO (credit score) for FHA &VA and 680 FICO (credit score) required for conventional loans

■ Up to $400,000 loan amount (no minimum)

■ Buyers must occupy the home within 60 days of closing

“If you are looking to purchase a home and want to find out if you qualify for up to $16,000 in down payment and closing cost assistance, give us a call and we will help you determine what your options are,” said Storey.

Nancy Storey is a real estate sales executive with Berkshire Hathaway HomeServices Nevada Properties, one of the world’s largest real estate organizations. For more information on locally available down payment assistance programs and Storey’s services, call 702-595-2656 or email nancys@bhhsnv.com.

Berkshire Hathaway HomeServices Nevada Properties is a part of Americana Holdings, which operates 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.

In 2014, Berkshire Hathaway HomeServices was named “Real Estate Agency Brand of the Year” by consumers in the 26th annual Harris Poll EquiTrend study of the largest real estate networks. Berkshire Hathaway HomeServices has 54,000 agents in 1,600 offices nationwide and an international network of 80,000 real estate agents and 2,800 real estate brokerage locations around the world. Visit www.bhhsnv.com for details.

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