Home Is Possible program mortgage interest rates & updates for today

The Home Is Possible program is designed to help qualified Nevadans make the dream of home ownership a reality. See how these programs can help grow your referrals today! Scroll down below this table for the latest updates.

Rates as of January 15, 2021
NHD HiP - Rate/Offerings	On hover Content	FICO Credit Score	Mortgage Rate	Down Payment Assistance	Second Mortgage
HIP for First-Time Homebuyers (see income limits)
FHA, VA & USDA	Home Is Possible for First-Time Homebuyers Highlights (FHA/VA/USDA-RD) You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years) Maximum purchase price & income limits per county: (click here for limits) Household income must be used in determining income Cosigner's income does not count towards income limits Minimum credit score 660 Maximum debt ratio 45% DPA is in the form of a no interest, no payment 7-year forgivable note. The full DPA amount will be owed if there is a sale, transfer or refinance of the property during the first 7 years. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	660	2.875%	w/2%	7-yr
Government Insured Loans (Income to $98,500)
FHA, VA & USDA	FHA, VA & USDA Highlights Maximum purchase price $510,400 (remember to check Agency limits) Maximum income limit $98,500 Non-purchasing spouse's income must be included when determining qualified income Cosigner's income does not count towards income limits Minimum credit score 640 Maximum debt ratio: 50% if 680+ credit score (FHA and Conventional only); 45% if less than 680 credit score Purchaser cannot own other property at the time of close DPA is in the form of a no interest, no payment prorated 3-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	640	3.000%	w/3%	3-yr prorated
FHA, VA & USDA	FHA, VA & USDA Highlights Maximum purchase price $510,400 (remember to check Agency limits) Maximum income limit $98,500 Non-purchasing spouse's income must be included when determining qualified income Cosigner's income does not count towards income limits Minimum credit score 640 Maximum debt ratio: 50% if 680+ credit score (FHA and Conventional only); 45% if less than 680 credit score Purchaser cannot own other property at the time of close DPA is in the form of a no interest, no payment prorated 3-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.		3.250%	w/4%
FHA, VA & USDA	FHA, VA & USDA Highlights Maximum purchase price $510,400 (remember to check Agency limits) Maximum income limit $98,500 Non-purchasing spouse's income must be included when determining qualified income Cosigner's income does not count towards income limits Minimum credit score 640 Maximum debt ratio: 50% if 680+ credit score (FHA and Conventional only); 45% if less than 680 credit score Purchaser cannot own other property at the time of close DPA is in the form of a no interest, no payment prorated 3-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.		4.500%	w/5%
HIP Specialty Programs (Income to $98,500)
Heroes - VA & USDA	HIP for Heroes Highlights Maximum purchase price $510,400 Maximum income limit $98,500 Non-purchasing spouse's income must be included when determining qualified income Cosigner's income does not count towards income limits Minimum credit score 640 Maximum debt ratio 45% VA and USDA-RD loans only Purchaser cannot own other property at the time of close This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	640	2.250%	n/a 0%	N/A
Teachers (FHA)	HIP for Teachers FHA Highlights Maximum purchase price $510,400 (remember to check Agency limits) Maximum income limit $98,500 Non-purchasing spouse's income must be included when determining qualified income Cosigner's income does not count towards income limits Minimum credit score 660 Maximum debt ratio 45% Purchaser cannot own other property at time of close Must be a Nevada licensed K-12 public or public charter school full-time classroom teacher $7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	660	2.250%	$7,500	5-yr prorated
Teachers (VA & USDA)	HIP for Teachers VA and USDA Highlights Maximum purchase price $510,400 (remember to check Agency limits) Maximum income limit $98,500 Non-purchasing spouse's income must be included when determining qualified income Cosigner's income does not count towards income limits Minimum credit score 640 Maximum debt ratio 45% Purchaser cannot own other property at time of close Must be a Nevada licensed K-12 public or public charter school full-time classroom teacher $7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	640	2.250%	$7,500	5-yr prorated
Conventional Loans - Freddie Mac 80% AMI OR LESS (see income limits)
Conventional (4% DPA)	HFA Advantage Highlights Maximum purchase price $510,400 Maximum income limit per county (click here for county limits - Freddie) Non-purchasing spouse's income must be included when determining qualified income Cosigner's income must be included when determining qualified income Minimum credit score 640 Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score Purchaser cannot own other property at the time of close DPA is in the form of a no interest, no payment prorated 3-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	640	4.875%	w/4%	3-yr prorated
Conventional (5% DPA)	HFA Advantage Highlights Maximum purchase price $510,400 Maximum income limit per county (click here for county limits - Freddie) Non-purchasing spouse's income must be included when determining qualified income Cosigner's income must be included when determining qualified income Minimum credit score 640 Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score Purchaser cannot own other property at the time of close DPA is in the form of a no interest, no payment prorated 3-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	640	5.250%	w/5%	3-yr prorated
Conventional Loans - Fannie Mae 80% AMI OR LESS (see income limits)
Conventional (4% DPA)	HFA Preferred Conventional Highlights Maximum purchase price $510,400 Maximum income limit per county (click here for county limits - Fannie) Non-purchasing spouse's income must be included when determining qualified income Cosigner's income must be included when determining qualified income Minimum credit score 640 Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score Purchaser cannot own other property at the time of close DPA is in the form of a no interest, no payment prorated 3-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	640	4.875%	w/4%	3-yr prorated
Conventional (5% DPA)	HFA Preferred Conventional Highlights Maximum purchase price $510,400 Maximum income limit per county (click here for county limits - Fannie) Non-purchasing spouse's income must be included when determining qualified income Cosigner's income must be included when determining qualified income Minimum credit score 640 Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score Purchaser cannot own other property at the time of close DPA is in the form of a no interest, no payment prorated 3-year forgivable note. This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.	640	5.250%	w/5%	3-yr prorated

Recent Program Changes and Updates

Changes to DPA Second Mortgage Terms

September 01, 2020

Condos and Delegated Lenders

August 31, 2020

HIP for Teachers

August 11, 2020

Freddie Revised Income Limits

July 12, 2020

Covid FAQ

July 10, 2020

First Time Homebuyer Program income and Purchase Price Limits

June 22, 2020

Fannie Mae Lowers Income Limits

June 22, 2020

Project Approval Department Updates

April 01, 2020

Government loans - Anti-Flipping Policy

February 06, 2020

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Our Other Programs

Nevada down payment assistance programs - Home is Possible

Home Is Possible™ offers thousands in bonus money to help with a down payment or closing costs.

Home Is Possible For Heroes™ helps veterans be at home with a below-market interest rate.

Home Is Possible For Teachers™ gives K-12 teachers in Nevada $7,500 in bonus money for a down payment or closing costs plus a below-market interest rate—for a limited time.

Whether you’re a homebuying newbie or a homeowner veteran, one thing’s for sure: you’ll be even smarter after completing our free homebuyer education course.