Home At Last™ Daily Rates

GOVERNMENT LOANS
RATES & ASSISTANCE OPTIONS  

Assistance Options
Loan Rates
Loan Types
0% 3.000% FHA, VA, USDA
2% 4.000% FHA, VA, USDA
3% 4.375% FHA, VA, USDA
4% 4.625% FHA, VA, USDA
5% 5.250% FHA, VA, USDA

CONVENTIONAL LOANS
RATES & ASSISTANCE OPTIONS

 Assistance Options
Freddie Mac Rates
Income Limit:
80% AMI
View AMI Lookup Tool
Fannie Mae Rates
Income Limit:
≤ 80% AMI
View AMI Lookup Tool
Fannie Mae Rates
>
80% AMI
Income Limit: $135,000
0% 3.250% 3.250% 3.875%
1% 3.500% 3.500% 4.125%
2% 3.750% 3.750% 4.500%
3% 4.250% 4.250% 4.625%
4% 4.375% 4.375% 5.000%
5% 4.750% 4.750% N/A

CREDIT SCORE (FICO) MINIMUMS

  • PURCHASE LOANS:
    640 with 45% maximum debt-to-income ratio
    680 with 45.01 – 50% maximum debt-to-income ratio
  • REFINANCE LOANS:
    640 with 45% maximum debt-to-income ratio
    FHA streamline refinances are permitted
    VA or USDA streamline refinances are not permitted
  • MANUFACTURED HOMES (all loan types):
    680 with 45% maximum debt-to-income ratio
    Freddie Mac conventional not permitted

INCOME LIMITS (see chart at bottom of page)

  • FHA: $150,000
  • VA: $150,000
  • CONVENTIONAL Fannie Mae if income is over 80% AMI: $150,000
  • USDA: Per USDA guidelines View USDA Income Limits by County
  • CONVENTIONAL Fannie Mae/Freddie Mac if income is at or below 80% AMI: Refer to Income Chart below or View AMI Lookup Tool by CountyNote: AMI is the Area Median Income established by Fannie Mae and Freddie Mac.

PURCHASE PRICE LIMITS

  • There are no purchase price limits established by the Home At Last™ program.

LOAN LIMITS

  • The Home At Last™ program does not establish a maximum or minimum loan amount.
  • Lenders must comply with loan agency loan limits for FHA, VA, USDA Guaranteed or Conventional loans.
    • FHA loan limit: View FHA Loan Limits by County
    • VA loan limit: $548,250
    • USDA Guaranteed loan limit: No limit
    • Conventional loan limit: $548,250 (no jumbo loans)

PLEASE NOTE:

  • Down Payment Assistance is calculated as a percentage of the first mortgage loan amount
    • Example: A $375,000 mortgage with 3% assistance will receive $11,250 in down payment and/or closing cost assistance
  • First mortgage details:
    • Mortgages to purchase the home are for a term of 30-years with a fixed rate set by the Home At Last™ program
    • Rates vary depending on the loan type and percentage of assistance provided
    • Loan options with assistance will include a second mortgage for the amount of the assistance
  • Second mortgage details:
    • Second mortgages for the amount of assistance provided are for a term of 3 years with no interest and no payments
    • The amount of assistance is forgivable on a pro-rata basis over the first 3 years of living in the home
    • Example: $11,250 in assistance results in $312.50 being forgiven each month a payment is made on the first mortgage
  • Home At Last™ may be used for the purchase or refinance of a primary residence.
  • FHA loans and manufactured home loans may not be manually underwritten.
  • Pair Down Payment Assistance with the Mortgage Credit Certificate program to maximize long-term affordability, increase qualifying income at the time of loan application, and lower debt-to-income ratios

View MCC Income & Purchase Price Limits

 

Rates shown are effective for the date indicated and subject to change without notice. Home At Last™ participating lenders are responsible to follow all program guidelines and reserve loans at the rates published at eHousingPlus. Not all applicants will qualify. Home At Last™ is a program of Nevada Rural Housing Authority and does not originate mortgage loans or determine eligibility. Borrower eligibility for the program and mortgage financing is determined by licensed lenders approved to offer the Home At Last™ program.  The publishing of this program information is not an offer to lend money or solicit a mortgage application.