La vida en PHMC

What does it take to purchase a home? Good credit. Steady income. Low debt-to-income ratios. Job history. Oh yeah, and money in the bank…  The average sales price of homes in the state of Nevada is $277,900, so that means home buyers will have to come up with the following down payment amounts to purchase a home at the average sales price:


If you’re one of the many Americans that meet all the requirements to purchase a home but fall short on the funds for a down payment, you’re not alone. That’s where down payment assistance programs come in! The Nevada Housing Division provides its residents with bonus money for a down payment with the Home is Possible program. It is designed to help low and middle class Americans into homes, and better yet, you don’t have to be a first time home buyer.

“From the first time our lender mentioned Home Is Possible until we closed on the house, it was only three weeks. We got over $7,000 from the program. We wouldn’t have been able to purchase when we did without the program, plain and simple. What a relief.” – Courtney S., Home is Possible recipient of $7,000

CHECK TO SEE IF YOU QUALIFY BELOW 

Nevada’s Home is Possible Program

Qualifications:
  • Your income is below $98,500
  • The home is priced below $400,000
  • Your credit score is 640+
  • The home purchased is your primary residence
  • Complete the required buyer education course
Benefits:
  • Get up to 5% of the loan value in bonus money
  •  Usable for down payment and closing costs
  •  Forgivable after 3 years (if your stay in your home)
  •  Attractive 30-year interest rate
  •  No first-time home buyer requirement
  •  Financing available for manufactured homes
  •  State-wide program


About the Author

Edward Hardnett

Mortgage Consultant

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