January 30, 2017
Las Vegas real estate agent Alison Rachiell was a teacher for 10 years in Las Vegas and she’s also a native Nevadan, so she’s especially excited about NHD’s new Home Is Possible (HIP) For Teachers program.
“I think it’s great when somebody is dedicating their energy and time to teaching,” Rachiell said. “So being able to put them into a home they might have otherwise been unable to get is incredibly rewarding.”
Rachiell’s clients, Bridget and John Carilli, were the first in Las Vegas to take advantage of the program. Bridget is in her first year of teaching special education in a local elementary school and John is also employed by the Clark County School District’s before and after school safety program.
“We’re planning to have a family soon and we wanted to move out of our small apartment, where we felt like we were pouring money down the drain with rent,” Bridget shares. “And we wanted a nice yard.”
With Rachiell’s help, the Carillis found out that the house next door to his parents was up for sale. “We had some money saved up but not enough for a down payment and closing costs,” Bridget says. “But with the HIP For Teachers program we were able to purchase the house that is the mirror image of the home my husband grew up in. The yard isn’t nice, but we’ll make it nice.”
“Giving Bridget the keys to that home truly warmed my heart,” Rachiell says. “Getting to see the joy and pride on her face was priceless.”
Rachiell is now on a mission to get even more Nevada teachers into homes of their own. “They’re getting rewarded for doing something great for our community,” she says. “That makes me happy.”
What You Need To Know
The HIP For Teachers program was introduced in late 2016 to help Nevada communities recruit and retain teachers. “In addition to making Nevada one of the country’s most veteran-friendly states, we’re working with Governor Sandoval to make it a great place for teachers to live and work,” explained Housing Administrator CJ Manthe. “A big part of that is helping them get into a home of their own, which was the impetus for this program.”
HIP For Teachers offers Nevada’s K-12 teachers $10,000 in bonus money toward the purchase of a new home, and that money is forgivable if the teacher stays in the home for five years. It can be used for a down payment or closing costs, freeing up homeowner savings for other expenses.
Click here for an overview of the key benefits and requirements for the program, and then let’s work together to reward our state’s educators with homes of their own!
About Home Is Possible Funding
The Home Is Possible programs are funded through the use of a private/public partnership model, which has funded $76 million toward down payment and closing costs, for a total of $1.9 billion in closed mortgages since the program was founded in 2014.