Home Is Possible (HIP) Lender FAQ
No. The public-private partnership between Nevada Housing Division and Raymond James is solid and funding is continuously provided.
No, there are no first-time homebuyer requirements for Home Is Possible, Home Is Possible For Heroes or Home Is Possible For Teachers. However, our Home Is Possible Plus and Mortgage Credit Certificate programs do have first-time homebuyer requirements. Other requirements: The home must be the borrowers’ primary residence and they must occupy the home within 60 days of closing.
Yes and no. The income is counted towards helping with the 45% debt ratio requirement but the income will not count towards the $98,500 maximum income requirement.
Yes, per agency guidelines, a non-occupant co-borrower is not allowed on the deed, but is allowed on the mortgage.