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! Please mouse over the "HIP Programs" column for program highlights.

Rates as of January 26, 2022*
HIP Programs	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) (see link under rate sheet for Targeted Areas) Household income must be used in determining income Cosigner's income does not count towards income limits Minimum credit score 660 (680 for manufactured homes) Maximum debt ratio 45% 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.	660	3.500%	w/2%	3-yr prorated
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) (see link under rate sheet for Targeted Areas) Household income must be used in determining income Cosigner's income does not count towards income limits Minimum credit score 660 (680 for manufactured homes) Maximum debt ratio 45% 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.	660	3.875%	w/4%	3-yr prorated
Government Insured Loans (single borrower income to $105,000, two or more borrowers income to $135,000)
FHA, VA & USDA	FHA, VA & USDA Highlights Maximum purchase price $647,200 (remember to check Agency limits) Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000 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 (680 for manufactured homes) 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	4.875%	w/3%	3-yr prorated
FHA, VA & USDA	FHA, VA & USDA Highlights Maximum purchase price $647,200 (remember to check Agency limits) Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000 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 (680 for manufactured homes) 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.		5.250%	w/4%
FHA, VA & USDA	FHA, VA & USDA Highlights Maximum purchase price $647,200 (remember to check Agency limits) Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000 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 (680 for manufactured homes) 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.		N/A	w/5%
HIP Specialty Programs (single borrower income to $105,000, two or more borrowers income to $135,000)
Heroes - VA & USDA	HIP for Heroes Highlights Maximum purchase price $647,200 Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000 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 (680 for manufactured homes) 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	3.500%	n/a 0%	N/A
Teachers (FHA)	HIP for Teachers FHA Highlights Maximum purchase price - check Agency limits Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000 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 (680 for manufactured homes) 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	3.500%	$7,500	5-yr prorated
Teachers (VA & USDA)	HIP for Teachers VA and USDA Highlights Maximum purchase price $647,200 (remember to check Agency limits) Maximum income limit - single borrower income to $105,000, two or more borrowers income to $135,000 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 (680 for manufactured homes) 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	3.500%	$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 $647,200 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	4.750%	w/4%	3-yr prorated
Conventional (5% DPA)	HFA Advantage Highlights Maximum purchase price $647,200 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 $647,200 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 (680 for manufactured homes) 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	4.750%	w/4%	3-yr prorated
Conventional (5% DPA)	HFA Preferred Conventional Highlights Maximum purchase price $647,200 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 (680 for manufactured homes) 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 Over 80% AMI (income limit $105,000)
Conventional (4% DPA)	HFA Preferred Conventional Highlights Maximum purchase price $647,200 Maximum income limit - $105,000 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 (680 for manufactured homes) 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	5.500%	w/4%	3-yr prorated

*Please note the above rates are informational only and may change at any time. For up-to-the-minute program rates use the following link and click on rates/offerings:

https://www.ehousingplus.com/available-programs/nevada/nevada/

HUD-Approved Targeted Areas

Friday Fast Facts and Program Updates

Underwriter Certification & Non-Purchasing Spouse

December 30, 2020

2021 Purchase Price Limit

December 18, 2020

1000 Home is Possible for Teachers!

December 11, 2020

U.S. Bank 6-month Employment Overlay

December 04, 2020

U.S. Bank's Guildlines on URLA

November 13, 2020

Co-Signer vs. Non-Occupant Co-Borrower

November 06, 2020

eSignature

October 09, 2020

$5 Billion in HIP Loans!

September 25, 2020

660 or Below Credit Score and Manual Underwriting

September 18, 2020

HIPP_Other_pro

Our Other Programs

Nevada down payment assistance programs - Home is Possible

Home Is Possible™ offers thousands of dollars 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 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.