Thursday, February 29, 2024

Two new homeownership programs launching soon!

December 14, 2022 by  
Filed under Highlights

By Kevin Hickey, Nevada Rural Housing Authority

You’ve heard a lot about the housing market lately — higher home prices and increasing interest rates make homeownership seem even more out of reach. But that could change for many rural Nevada homebuyers! Nevada Rural Housing is launching two new programs to help southern Nevada families buy a home of their own!

The Home Means Nevada Rural Down Payment Assistance Program provides $15,000 in down payment assistance to first-time homebuyers. That’s right – $15,000 to help you clear that final hurdle and achieve your dream of homeownership!

Want even more great news? For those families living in or relocating to Nye County, Nevada (Pahrump, for example) there’s the new Buy In Nye program by Nevada Rural Housing that has two down payment assistance options: $16,000 or $5,000, which come with lower interest rates to boot!

Both programs are set to launch December 5, 2022* and are funded by the American Rescue Plan Act with money set aside by the State’s Home Means Nevada initiative and by Nye County. It’s just the right help at just the right time to help first-time homebuyers purchase a home!

Did you know homebuyers could save even more? By pairing one of the two programs above with Home At Last’s™ Mortgage Credit Certificate (MCC), buyers could save thousands of dollars every year on their taxes – for the life of the loan! That’s money that can be saved for vacation, home repairs and improvements, education, and so much more!

To begin your homeownership journey, visit HomeAtLastEducation.org. There you’ll complete Homebuyer 101, Nevada Rural Housing’s free, on-line homebuyer education course. The course teaches you all about Nevada Rural Housing’s various homeownership programs, the mortgage process, and what to expect when buying a home. Next, visit our lender referral page at FindANevadaLender.org to find an approved lender near you. There’s no separate application with Nevada Rural Housing — your lender will walk you through the entire process while we cheer you on! For more information and details, visit HomeAtLastNV.org.

*Subject to change. A Home At Last™ approved lender will determine eligibility for the MCC program. Not all applicants will qualify. Example savings figures are estimates and for illustrative purposes only. Reference to rates is for illustrative purposes only. NRHA does not offer this information to solicit a mortgage application or as tax advice. All MCC holders or applicants should consult their own tax advisor or the Internal Revenue Service for guidance regarding the calculation of the tax credit benefit. Participating lenders are responsible to reserve Home At Last™ loans at the rates published with eHousingPlus and must follow all program and loan agency guidelines. Loan rates vary based on loan type and amount of assistance provided. Nevada Rural Housing Authority is an equal opportunity provider and employer.

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