HIP for Teachers FAQ

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Yes! We've created a page on our site with marketing materials you can use. If you want to make your own materials, please review our guidelines first!

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Yes, we strongly encourage you to consider the MCC for every borrower who qualifies. The MCC program normally costs $795 but is reduced to only $395 when combined with Home Is Possible, Home Is Possible For Heroes or Home Is Possible For Teachers. Remember, the MCC program is free to veterans!

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  1. You can sign up for webinar training on our website: http://homeispossiblenv.org/events.
  2. You can request an in-person training for your office by calling NHD in Las Vegas at (702) 486-7220 ext. 225, or our Carson City office at (775) 687-2236.
  3. Or you can email us at hip@housing.nv.gov.
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Payment would be required if any of the following occurs within 5 years of the closing date:

  • Ceases to reside in the property
  • Prepays or refinances the first mortgage
  • Sells, transfers or otherwise disposes of the property

The loan payoff calculation is $166.67 for each full month remaining on the loan term.

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No, although we highly encourage all loan personnel to take the webinar training or request in-person office training.

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No. The teacher will need to decide if they want the lower rate and a flat $7,500 in assistance or the regular HIP rate and up to 5% of the loan amount in assistance.

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The Partial Exemption Disclosure, the Legal Obligation Letter, the Gift/Forgivable Loan Letter, the Forgivable Promissory Note and the Deed of Trust, all of which are provided by eHousingPlus.

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On the first mortgage, there is a $400 funding fee to U.S. Bank and a $275 program fee to eHousingPlus. The second mortgage has a maximum $100 recording fee. No other fees are allowed on the second.

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