OUR PROMISE TO YOU
Nevada Rural Housing developed the Launchpad Homeownership Program to give you the homebuying opportunity you deserve. You CAN conquer today's challenges by using our competitive rates paired with down payment assistance and flexible credit options.
Launchpad Homeownership Program Highlights*
- Two Launchpad programs:
- Launchpad for first-time homebuyers only.
- Launchpad.
- This program is for first-time and repeat buyers.
- Low rates! How much lower? Click here and see for yourself.
- Borrower Assistance options, also known as Down Payment Assistance, is offered as a percentage of the loan amount. Options include 2%, 3%, 4%, or 5%.
- Example of Borrower Assistance Calculation:
- Loan amount: $450,000
- Borrower Assistance option: 5%
- Amount of assistance provided: $22,500
- Click here to see Launchpad borrower assistance options.
- Example of Borrower Assistance Calculation:
- Meet our minimum credit score to access all our program has to offer; our rates don’t go up or down based on your score!
- Use Borrower Assistance toward the down payment and/or closing costs!
Eligibility*
- Minimum credit score: 640
- Income requirements apply and will depend on the program and the amount of assistance provided. The maximum income allowed is $165,000.
- Options for first-time AND repeat buyers.
- Launchpad is available in every Nevada county. For properties in Washoe and Clark counties, use HALMAP.org to verify that your home qualifies.
What to do next?
- Enroll in our cost-free online education course, available 24/7, to learn more about Launchpad and other programs.
- Bookmark our rates and assistance page and check it daily.
- Prepare for your first conversation with a program-approved lender by downloading our “Guide to Your First Conversation With a Loan Officer”.
- Email us at HAL@NVRural.org or call (775) 887-1795 ext.163 to get your Launchpad questions answered!
- Subscribe to our Homeownership Info. newsletter to receive the latest updates on Launchpad and other homeownership programs.
*Get full program details at https://nvrural.org/programs/homeownership/down-payment-assistance/#launchpad
Participating lenders are responsible to follow all program, U.S. Bank, and loan agency guidelines, and reserve loans at the rates published at eHousingPlus. Not all applicants will qualify. Nevada Rural Housing does not originate mortgage loans or determine eligibility. Borrower eligibility for programs and mortgage financing is determined by licensed lenders approved to offer the programs. This is not an offer to lend money or solicit a mortgage application. Qualified veterans are exempt from the first-time homebuyer requirement. A qualified veteran is defined as “a person who served in the active military, naval, or air service, and who was discharged or released therefrom under conditions other than dishonorable.” A first-time home buyer is defined as someone who has not owned a principal residence during the three-year period before purchasing a new home.