Down Payment Assistance for First Time Home Buyers

Well…. the Home At Last Bond Program ran out of money a few months ago but has been replaced by a new program. Currently, the Nevada Rural Housing Authority is offering the Home At Last Wish Program. This first time home buyer program is being run in partnership with Heritage Bank of Nevada and offers down payment contributions for buyers in Washoe, Carson, and Douglas County.

Here’s how it works. A home buyer will contribute a set amount for their down payment. Let’s say $3,000. The Wish Program will contribute three times that ($9,000) for a total down payment of $12,000. It’s free money people. To see if you qualify answer the questions below.

1. Have you not owned a home in the past three years?
2. Will you reside in the property as your primary residence?
3. Are you purchasing in an area with a population less than $100,000 (Sparks and Spanish Springs are okay)?
4. Will you stay in the home or at least five years?
5. Do you meet the underwriting requirements for an FHA, VA, Conventional, or RHS loan?
6. Are you willing to take a home buyer counseling class?

If you answered yes to all six questions you might be eligible. The program also includes income and home value limits so check below to make sure you are within the county ranges.

Washoe County

Income Limits

• 1 person: $39,000
• 2 people: $45,600
• 3 people: $51,300
• 4 people: $56,900

Home Value Limit

• $363,375

Carson City

Income Limits

• 1 person: $36,500
• 2 people: $41,600
• 3 people: $46,800
• 4 people: $52000

Home Value Limit

• $358,875

Douglas County

Income Limits

• 1 person: $40,900
• 2 people: $46,750
• 3 people: $52,600
• 4 people: $58,400

Home Value Limit

• $421,875

For more information contact me, your lender, or the Nevada Rural Housing Authority.

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