At Nevada Housing Division, we love sharing stories about Nevada homebuyers who have used the Home Is Possible program to find their way home—with downpayment money in tow. That never gets old! But today, we thought we’d mix things up and look at the program from the point of view of a HIP-qualified lender.
So without further ado, meet Andy Gutman, a loan officer at RMS & Associates in Las Vegas, and very clearly a big fan of Home Is Possible. (He says hi!) Andy was one of the first lenders to become HIP-qualified after the program started in 2014.
We had an awesome Q&A session with Andy—because he’s awesome!— and he had some interesting things to say. It went a little something like this:
Q: What do you like about HIP?
A: It doesn’t take a rocket scientist to use it. I am proof of that! It’s so much easier to use than other down payment assistance programs, both for lenders and for homebuyers.
A: Home Is Possible has helped me help more people get into homes, which makes me happy. About 70 percent of my clients request and use the program.
A: While other homebuyer programs are very restrictive and hard to qualify for, Home Is Possible is different—and very well named.
Q: Are people skeptical when you tell them they don’t ever have to pay the money back?
A: No. Once I educate my clients about the program, they’re sold. Except for one lady.
Q: This sounds juicy. Can you elaborate?
A: Yes, a woman called and asked me questions about Home Is Possible. I told her that the program is legitimate, and that I even used the program. She refused to believe me and said there was no such thing as free money. I couldn’t convince her. Her loss.
Q: What’s one of the biggest advantages of HIP that might not be obvious?
A: In a seller’s market, which Las Vegas is right now, submitting an attractive offer is important. If you can avoid stipulations like asking the seller to pay half of the closing costs (which the Home Is Possible money can help you do), your offer might be the one that gets accepted in a competitive market.
Good stuff. Thanks Andy!
Ready For Your Money?
The average amount homebuyers get from HIP is $8,120 with a one-time fee of just $755. If you’re thinking about buying a home in Nevada, and you like the sound of thousand of dollars in downpayment money, ask one of the HIP-qualified lenders for more information. (As you may have noticed, Andy, for one, is quite skilled at answering questions.)