November 11, 2016
We love veterans. We are extremely thankful for their service and sacrifices. So it should come as no surprise that we created a homebuyer program that benefits veterans and military personnel. It’s called Home Is Possible For Heroes and it‘s our way of saluting Nevada’s heroes on Veterans Day—plus the other 364 days of the year.
Some Background Info
In 2014, we developed both the Home Is Possible (HIP) and Home Is Possible For Heroes (HIP-H) programs to help Nevadans find safe, affordable housing. Two years in, we can report these programs are doing just that.
One of the driving forces behind HIP-H is our desire to address the issue of homelessness among veterans. The National Alliance To End Homelessness reported in 2014 that veterans made up 8.6 percent of the country’s total homeless population, or 49,933 veterans. While that number is down from the 2009 report, there is much work to be done, and much help to be given.
During this calendar year, more than 300 veteran and military families in Nevada have taken advantage of our HIP-H program to become homeowners. That’s a 77 percent increase over the veterans served in the same period last year. Since launching the program, a total of 532 veteran homebuyers have used Home Is Possible For Heroes to realize their dreams of homeownership. Our ambition is to grow exponentially year after year.
Another program that veterans and military families (and first-time homebuyers) can take advantage of through Nevada Housing Division is the Mortgage Credit Certificate. MCC gives the homebuyer a tax break of approximately $2,000 for every year they own the home and pay on the loan. So far in 2016, 38 veteran and military families have benefited from this program as well. (And with fees waived!)
So What Is HIP-H Exactly?
Home Is Possible For Heroes gives veterans and military personnel more buying power. How, you ask? Take a look at these program highlights:
- Below-market fixed interest rate 30-year loan
- Reduces monthly mortgage payment
- No first-time homebuyer requirement
- Can be combined with the Mortgage Credit Certificate (MCC) with program fees waived
- Statewide program
To see if you qualify, check out the HIP-H program requirements. And as with all of our homebuyer programs, find a HIP-qualified lender to start the process. They’ll take good care of you from application through closing.
Above & Beyond
In addition to serving veterans through HIP-H, we are beyond excited to have teamed up with the Veterans Association of Real Estate Professionals (VAREP) in October to donate and renovate a home to one deserving veteran in Las Vegas, Nevada. It’s humbling to be able to help in such a life-changing way, and we’re honored to serve our veterans in any way we can.
To our veterans and military personnel, we thank you for your service and celebrate your awesomeness on Veterans Day and every day.
Just a heads up: We will be marching ever-so-proudly in the Veterans Day Parade in Reno. Be sure to give us a shout out when you see us!