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.
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