Now Is The Time To Be A Nevada First-Time Home Buyer – Here’s Why
We all know how difficult it is for first-time home buyers to purchase a home. It often seems like you need to be swimming in cash to even have the chance at becoming a homeowner. But Nevada has just made the dream of homeownership much more attainable. If you’ve been contemplating buying your very first house in the state of Nevada, now is the time to make your dream a reality, as Nevada is granting first-time home buyers a helping hand!
The Home Means Nevada Initiative has recently allocated $10 million to the Nevada Housing Division and Nevada Rural Housing, which will provide eligible applicants looking to become Nevada first-time home buyers up to $15,000 through down payment assistance programs (DPA). According to 8 News Now, “The assistance would be a second mortgage with no payments or interests. The mortgage would be completely forgiven after three years of residence in the home…”
How Do I Qualify?
The first question on everyone’s mind is “how do I qualify?” Well, here are the requirements set by The Home Means Nevada Initiative:
- Cannot have owned a home within the last three years
- Must have a minimum of six months of Nevada residency
- Must have a minimum credit score of 660
- Must fall within household income limits
- Must have completed a homebuyer education course.
For potential first-time buyers looking to purchase their first homes, these programs represent an incredible opportunity. The Home Means Nevada Initiative has given potential Nevada first-time home buyers an incredible gift – the chance at homeownership without having to completely break the bank!
To apply, visit the NHD and the NRH websites for additional details on their programs and next steps.