Home is Possible (HIP) For First-Time Homebuyers offers interest-free down-payment assistance with a competitive interest rate to give buyers more buying power.
- Down payment assistance up to 4% of total loan amount
- Usable for down payment and closing costs
- Forgivable after 7 years (if you stay in your home)
- Attractive 30-year fixed interest rate
- Statewide program
- Must be a first-time homebuyer (have not owned a home in the past 3 years)
- Maximum purchase price & income limits by county
- Minimum credit score of 640
- Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
- Must live in home as primary residence
- Must meet standard underwriting requirements
- Must complete homebuyer education course
Are you ready to take the first step in buying your first home in Nevada? Find a HIP Lender to get started.