I am excited to announce a new loan program for Southern Nevada.
Southern Nevada homebuyers in eligible zip codes can now take advantage of a down payment assistance program that provides a forgivable loan of 10 percent of the purchase price, up to $20,000 toward the purchase of a home.
The Hope Brings You Home is a new down payment assistance (DPA) program available to homebuyers in areas that are still considered distressed from the housing crisis.
The first-come, first-served program will be offered until its $17.9 million in funds has been distributed. A minimum of 1,800 qualified homebuyers will receive down payment and closing cost assistance.
Once approved, the financial assistance comes in the form of a second mortgage with a zero percent interest rate and no monthly payments for a three-year term. The loan is forgiven at the end of the three-year term.
To qualify for the program, a homebuyer must purchase the home to occupy as their primary residence, complete a required homebuyer education course, and meet certain income, debt and credit score requirements.
The Nevada Housing Division (NHD) and Nevada Affordable Housing Assistance Corp. (NAHAC) are working together to offer the Hope Brings You Home program, which is funded through the U.S. Department of Treasury’s Hardest Hit Fund Program.
The Hope Brings You Home program is meant to stabilize and revitalize neighborhoods that were hardest hit during the recession.
If you are interested in learning more about this program, you can always give me a call at 702-370-5112. I also work closely with a lender who specializes in this downpayment assistance program.
Click HERE to see all the homes for sale under the Hope Brings You Home Program.
Subscribe to our YouTube Channel: http://bit.ly/YouTubeAOHare