The Home Is Possible grant program helps make the dream of home ownership a reality for qualified Nevadans. Introduced in 2014, this program helps those who can afford the monthly mortgage payments, but whose savings may fall short of the necessary down payment.
The down payment assistance grant amount can be as much as 5% of the loan amount, to be used for covering down payment and closing costs. For example, on a $ 200,000 loan amount, your down payment assistance grant, pending the qualifications specified below, may be as high as $10,000. This grant never needs to be repaid.
Fixed interest rate 30-year loan
No first-time homebuyer requirement
Grant is non-repayable
No asset limits for homebuyers
Now offering up to a 4% grant with government loan types and up to a 5% grant with conventional loan financing
Grants are based upon the loan amount and can be used for down payment assistance and/or closing costs.
Can be combined with The Mortgage Credit Certificate (MCC) Program.
Author: Dated: October 31st 2016 Views: 117 About : ...
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