Welcome to the Home Is Possible for Teachers program!
The Nevada Housing Division wants to ensure as a teacher you and your family feel welcomed and the Home Is Possible for Teachers program does just that! This program offers down payment assistance at a bellow market interest rate for all qualified teachers. It's like extra credit for teachers who help make Nevada a great place to live. Check out the program benefits and requirements.
- 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
- Must be a licensed full-time K-12 public school classroom teacher in Nevada
- Qualifying income below $105,000
- Home price below $548,250
- Minimum credit score of 660 for FHA / 640 for VA, USDA (680 for manufactured homes)
- Government insured loans only (no conventional loans)
- Teacher must live in home as primary residence
- Homebuyer education course required
- Borrower may not own property at the time of closing
- One-time fee of $755 on first mortgage
- $7,500 Usable for down payment and closing costs
Program questions? Get in touch!
Josie Hatem, Homebuyer Programs Specialist
Nia Girmam Homebuyer Programs Specialist
The first step is to choose a HIP participating lender, they will help advise you on your next steps. Welcome home!