The Nevada Housing Division has made home possible for nearly 22,000 families throughout the state of Nevada.
Homeownership is possible, even with student debt.
Buying a home doesn’t have to mean a stand-alone structure. A more affordable condo or townhome could be the perfect answer for you, depending on your needs and situation.
Freddie Mac Changes
Effective January 13, 2020
- Freddie Mac loans will be limited to income at or below 80% AMI.
- Freddie Mac ASI Grant will no longer be available.
- Conventional loans will not be available under the Home Is Possible for First-Time Homebuyer Bond program.
Revised DTI Guidelines
Effective January 6, 2020
- DTI of 45.0 l % to 50% will be allowed on FHA and Conventional loans with a minimum FICO score of 680.
- Minimum credit score of 640 still permitted with maximum DTI of 45% on FHA, VA, USDA & Conventional products.
NHD to $510,400!
Effective January 2, 2020, NHD purchase price limit will be $510,400. Remember to always check agency guidelines regarding purchase price limits.
Lastly, thanks for being you. (We just couldn’t pass up the opportunity to tell you how much we appreciate you.)
While spring and summer might be the most popular times to buy or sell a home, getting your home buying on in winter has its benefits too. Seriously!
Our personal credit scores can affect so much in our lives – from qualifying for a home loan to whether we get a job. Learn more about how these all-important numbers are determined and how to dial yours in.
Veteran James Bassett and his family received a mortage-free home thanks to the teams at VAREP, Nevada Housing Division and countless volunteers. Learn about the program that made this possible — and the story of a local hero who now owns a home in Southern Nevada.
Manufactured Housing Loans
Reminder: US Bank made the following changes to loans secured with manufactured homes:
- Minimum credit score of 680
- Maximum DTI is 45%
- NO Manual Underwrites Allowed
Please note these changes affect all loans reserved September 2, 2019 or later.
Effective immediately: US Bank has changed the manual underwriting guidelines for new loan reservations on both Conventional and Government loan products.
FHA, USDA & VA