June 28, 2018
For the second year in a row, the Nevada Housing Division was recognized by US Bank for having one of the best homebuying programs in the country. In 2017, the Housing Division's Home Is Possible program originated more than $1 billion in mortgages and helped thousands of Nevadans realize the dream of homeownership. With this, Nevada was fourth in the nation in production behind only the much more populous states of Florida, Arizona and California.
In 2017, 5,489 mortgages were funded in Nevada through the Home Is Possible family of homebuyer programs, which includes Home Is Possible, Home Is Possible Plus, Home Is Possible For Heroes and Mortgage Credit Certificate.
These four programs are responsible for award-winning numbers like these as of December 2017:
- $3 billion total mortgages in just over three years
- $124 million in down payment money
- 15,162 families served
- 892 of those were veterans
- 388 used the Home Is Possible For Teachers program, which was introduced in 2017 to help recruit and retain teachers throughout Nevada
- The Mortgage Credit Certificate (MCC) has served more than 1,600 families, with more than $302 million in mortgages and $32 million in projected federal tax savings
The typical Nevadan who has benefited from the HIP program:
- Purchased their home for an average of $221,660
- Earned an average qualified income of $59,900
- Is an average of 38 years old
“With home prices rising statewide, the Home Is Possible program is more crucial than ever in helping Nevadans achieve the dream of home ownership,” said NHD Administrator Stephen Aichroth. “We look forward to building upon our successful foundation and continuing assistance for future Nevada homebuyers.
Photo, from left to right:
- John Hummel, US Bank
- Jim Coreno, US Bank
- CJ Manthe, Nevada Dept. of Business & Industry
- Stephen Aichroth, Nevada Housing Division
- Jason Hubbard, US Bank
- Scott Schmitt, US Bank
- Michael Holliday, Nevada Housing Division
- Dwight Pace, Nevada Housing Division