Teachers:
Take the smart way home.
This program is available through June 30, 2023.
Teachers make it their life’s work to educate young minds. To show our appreciation, we've created the Home Is Possible For Teachers program. This homebuyer program is like extra credit for teachers who help make Nevada a great place to live.
Check out the program benefits and requirements.
Key Benefits:
- $7,500
- Usable for down payment and closing costs
- Forgivable after five years (if you stay in your home)
- Below-market fixed interest rate 30-year loan
- Statewide program
- No first-time homebuyer requirement
Program Requirements:
- Must be a licensed full-time K-12 public school classroom teacher in Nevada
- For a single borrower: qualifying income up to $105,000 / For 2 or more borrowers: qualifying income up to $135,000
- Home price below $726,200 (see Agency Guidelines)
- Minimum credit score of 640 for FHA / 640 for VA, USDA
- Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
- Teacher must live in home as primary residence
- Homebuyer education course required
- Must meet standard underwriting requirements
- Borrower may not own property at time of closing