J J Ballard Broker/OwnerLicense #: B.0019363.CORP

J J Ballard Broker/OwnerLicense #: B.0019363.CORP

Down Payment Assistance!!




     Buying a home is a dream that most people aspire to. Home ownership is a prideful achievement, it is a foundation for families to grow, but the purchase of a home is not always easy. In most cases there is a large down payment required; GOOD NEWS, there are assistance programs that will help fund part of the down payment required!

     Through the Nevada Housing Division, there are grant programs that will assist in the costs of your down payment and closing costs if certain criteria are met. Home Is Possible is just one of these programs. Home Is Possible offers a percentage of the loan value in assistance if the signer has an annual income less the $105,00.00, if there is going to be two or more signers, the income cap rises to $135,000.00 and the loan value cannot exceed $647,200.00. This program also qualifies for manufactured homes. There are other criteria such as a fair credit score, a mandatory Home Buyer Education Course, the buyer must live in the home as their full-time residence and a one-time fee of $755.00. To look further into this program just visit Homeispossiblenv.org, their site is very organized and user friendly.

     Another option for down payment and closing costs assistance is through the Nevada Rural Housing Authority. This program is similar but a few key differences are the income cap is higher at $150,000.00, the program is not restricted to first time buyers and there are no purchase limits. This program offers competitive interest rates with varying assistance rates. To visit their website and learn more or learn how to apply, visit nvrural.org.

     These are just two great programs that offer grants for down payment assistance in Nevada. Reaching out to your local lender with questions is a great way to get started when in the early stages of looking for your future home. Homeownership is not out of reach!!

Have Questions?