Home Means Nevada Rural Down Payment Assistance
The Home Means Nevada Rural Down Payment Assistance program opens the door to:
• $15,000 in forgivable down payment assistance
• 30-year fixed-rate competitive mortgages
• Visit HALRates.org for rates and HALMap.org for eligible areas
Pair it with the MCC for the following benefits:
• The Mortgage Credit Certificate (MCC) helps first-time buyers and qualified veterans obtain mortgage tax credits for the life of the loan
• MCC increases qualifying income and lowers debt-to-income ratios which help more homebuyers get approved for a home mortgage. For example, a $345,000 mortgage at 6.50% interest generates an estimated $371 in additional monthly income*.
• Visit HALMCC.org for more information
Home Means Nevada Rural Down Payment Assistance Eligibility
• Household income limit is 300% of Federal Poverty Guidelines. Income limit for household size of 2 is $54,930. Add $14,160 for each additional household member.
• At least one borrower must have a minimum 6-month Nevada residency
• First-time, rural homebuyers
• Homebuyer education is required. Complete Homebuyer Education here.
How to Apply for Home Means Nevada Rural Down Payment Assistance
• Step 1: contact an approved lender at FindANevadaLender.org.
• Step 2: Tell your lender that you want to buy a home using Home Means Nevada Rural Down Payment Assistance. Pro-tip: Ask your lender if you are also qualified for the Mortgage Credit Certificate.
• If you need support please email us at HAL@NVRural.org