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

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• A first-time homebuyer is someone who has not owned or co-owned their own residence within the past three years.  If purchasing in a Targeted Area there are no restrictions on former home ownership.

• Total gross household income must fall within the Maximum Income Limits set by NHD.

• The purchase price of the residence you wish to buy may not exceed the Maximum Purchase Price Limits for the area in which it’s located.

• Assets, including without limitation, may not exceed 50 percent of the purchase price of the residence being purchased, unless disabled or elderly and such assets are the primary source of income. There is a lower asset test for down-payment loans -- maximum $5,000.

• Income must support the repayment of the loan pursuant to the underwriting criteria applied by FHA, VA, RHS, or Fannie Mae, as applicable.

• Credit must meet the underwriting criteria applied by FHA, VA, RHS, or Fannie Mae, as applicable.
   
• Successfully completes a HUD approved in-person 6 to 8 hour Homebuyer Counseling Course.

For more information please call us!  Information above copied directly from Nevada Housing.