Home Is Possible program mortgage interest rates for today

Rates as of November 15, 2019
NHD HIP - Rate/Offerings On hover Content FICO Credit Score Mortgage Rate* Down Payment Assistance
HIP for First-Time Homebuyers (see income limits)
FHA and VA

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 15-year forgivable note. The full DPA amount will be owed if there is a sale, transfer or refinance of the property during the first 15 years.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

660 4.750% w/4%
Conventional (Freddie)

Home Is Possible for First-Time Homebuyers Highlights (Conventional)

  • 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
  • Cosigners are not allowed
  • Minimum credit score 660
  • Maximum debt ratio 50%
  • DPA is in the form of a no interest, no payment 15-year forgivable note. The full DPA amount will be owed if there is a sale, transfer or refinance of the property during the first 15 years.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

4.875% w/4%
Government Insured Loans (Income to $98,500)
VA & USDA

VA and USDA-RD Highlights

  • Maximum purchase price $484,350
  • 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%
  • DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
  • 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 4.125% w/2%
FHA

FHA 660 Highlights

  • Maximum purchase price $484,350 (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%
  • DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
  • 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.

660
VA

VA Highlights

  • Maximum purchase price $484,350
  • 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 the time of close
  • DPA is in the form of a no interest, no payment partially forgivable second note. Half of the DPA will be forgiven on a 36-month prorated basis and the remaining DPA will be forgiven at the end of the 360th month.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

640 4.875% w/4%
FHA (660)

FHA 660 Highlights

  • Maximum purchase price $484,350 (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 the time of close
  • DPA is in the form of a no interest, no payment partially forgivable second note. Half of the DPA will be forgiven on a 36-month prorated basis and the remaining DPA will be forgiven at the end of the 360th month.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

660
FHA (640-659)

FHA 640-659 Highlights

  • Maximum purchase price $484,350 (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 the time of close
  • DPA is in the form of a no interest, no payment partially forgivable second note. Half of the DPA will be forgiven on a 36-month prorated basis and the remaining DPA will be forgiven at the end of the 360th month.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

640 w/3.5%
Conventional Loans - Freddie Mac HFA Advantage (Income to $98,500)
Conventional (4% DPA) Freddie Mac HFA Advantage Conventional Highlights
  • Maximum purchase price $484,350
  • Maximum income limit $98,500
  • Non-purchasing spouse’s income must be included when determining qualified income
  • Cosigners are not allowed under this program.
  • Minimum credit score 640
  • Maximum debt ratio 50%
  • Purchaser cannot own other property at the time of close
  • DPA is in the form of a no interest, no payment partially forgivable second note. Half of the DPA will be forgiven on a 36-month prorated basis and the remaining DPA will be forgiven at the end of the 360th month.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

640 5.125% w/4%
Conventional (5% DPA) Freddie Mac HFA Advantage Conventional Highlights
  • Maximum purchase price $484,350
  • Maximum income limit $98,500
  • Non-purchasing spouse’s income must be included when determining qualified income
  • Cosigners are not allowed under this program.
  • Minimum credit score 640
  • Maximum debt ratio 50%
  • DPA is in the form of a no interest, no payment prorated 3-year forgivable note
  • 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.

5.750% w/5%
HIP Specialty Programs (Income to $98,500)
Heroes - VA & USDA

HIP for Heroes Highlights

  • Maximum purchase price $484,350
  • 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 3.250% n/a 0%
Teachers (FHA)

HIP for Teachers FHA Highlights

  • Maximum purchase price $484,350 (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%
  • $7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note.
  • 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

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

660 3.250% $7,500
Teachers (VA & USDA)

HIP for Teachers VA and USDA-RD Highlights

  • Maximum purchase price $484,350
  • 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%
  • $7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note.
  • Purchaser cannot own other property at the time of close
  • Must be a Nevada licensed K-12 public or public charter school full-time classroom teacher

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

640 3.250% $7,500
Conventional Loans - Fannie Mae 80% AMI OR LESS (see income limits)
Conventional (4% DPA)

HFA Preferred Conventional Highlights

  • Maximum purchase price $484,350
  • Maximum income limit per county (click here for county limits)
  • 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 45%
  • DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
  • 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 5.625% w/4%
Conventional (5% DPA)

HFA Preferred Conventional Highlights

  • Maximum purchase price $484,350
  • Maximum income limit per county (click here for county limits)
  • 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 45%
  • DPA is in the form of a no interest, no payment prorated 3-year forgivable note.
  • 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.

5.750% w/5%

The Home Is Possible program is designed to help qualified Nevadans make the dream of home ownership a reality. See how this grant can help grow your referrals today!
Request brochures for your office by emailing: nhdinfo@housing.nv.gov.

HIPP_Other_pro

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 - a program for heroes

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

Nevada down payment assistance for teachers - Home is Possible

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.

home is possible for teachers

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.