Bond Issue January 13, 2010
Down Payment / Closing Cost Assistance
for Nevada Home Buyers
Information directly from NV Rural Housing website below:
Is the time right for you to become a home owner? With falling home prices, government incentives and exciting new financing programs from the Nevada Rural Housing Authority (NRHA), this may be the ideal time to buy your first home. NRHA's Home at Last™ Bond Program provides down payment assistance and below market rates for qualified first-time buyers and Veterans looking to buy a primary residence in rural Nevada.
What does the Home at Last™ Bond Program offer:
• FREE 3% down payment grant
• 5.375% 30-year mortgage rate
• Instant home equity
• May be coupled with government first-time buyer tax credit up to $8,000 (this govt. credit expires April 30)
• No asset limit for homebuyers
or
• 4.875% 30-year mortgage rate (without down payment grant)
Who qualifies:
• First-time homebuyers or qualified Veterans who will live in home as primary residence
• Households meeting income qualifications and normal FHA, VA or RHS underwriting requirements
• Home purchase is in rural Nevada (population fewer than 100,000) and falls below maximum price
Maximum home cost (family residence):
| County | Cost |
| Carson City | $348,422 |
| Douglas | $409,587 |
| Clark | $349,519 |
| Storey & Washoe | $352,791 |
| Elko, Eureka & Nye | $283,980 |
| Lyon | $289,441 |
| All other areas | $258,690 |
| | |
Maximum income limits
| County | | Income |
| Carson City |
| 2 or fewer persons | | $78,000 |
| 3 or more persons | | $91,000 |
| Clark |
| 2 or fewer persons | | $78,840 |
| 3 or more persons | | $91,980 |
| Douglas |
| 2 or fewer persons | | $87,600 |
| 3 or more persons | | $102,200 |
| Elko |
| 2 or fewer persons | | $72,900 |
| 3 or more persons | | $83,835 |
| Eureka |
| 2 or fewer persons | | $70,688 |
| 3 or more persons | | $81,291 |
| Humboldt |
| 2 or fewer persons | | $68,000 |
| 3 or more persons | | $78,200 |
| Lander | | |
| 2 or fewer persons | | $67,200 |
| 3 or fewer persons | | $77,280 |
| Lyon | | |
| 2 or fewer persons | | $72,356 |
| 3 or fewer persons | | $83,209 |
| Nye | | |
| 2 or fewer persons | | $70,748 |
| 3 or fewer persons | | $81,360 |
| Storey & Washoe |
| 2 or fewer persons | | $85,440 |
| 3 or more persons | | $99,680 |
| All other areas |
| 2 or fewer persons | | $66,300 |
| 3 or more persons | | $76,245 |
Contact Info
