Down Payment Assistance
This is the real deal.
10,000 since 2006. That's how many rural Nevada families have experienced the feeling of closing days, keys finally in their hands, and home at last.
Our programs provide customized loan options with or without down payment assistance. There is NO interest and there are NO payments on down payment assistance provided. And there are NO separate applications to fill out for the assistance, so it’s easy and doesn’t slow down closing!
Before we take you into the nitty gritty of the programs below, here are some of the most important stepping stones of NRH Homeownership Programs:
- Review Required Program Education & Training
- Connect with a Participating Lender (a requirement to use the program)
- Connect with a Certified Real Estate Partner (not a requirement but a great idea!)
- Review Program Fees
- Review Eligible Areas (by using a specific property address in our map tool)
Home At Last™
This is the original sauce here, folks. Our "flagship program." The one that started it all. HAL, as we like to call 'er for short, has helped thousands and thousands of families since 2006, and the flag continues to fly with a generous income maximum, no first-time homebuyer requirement and customizable loan options for all kinds of homebuyers.
Loan types include FHA (requires 3.5% down), VA and USDA (no down payment required), and conventional (requires a minimum of 3% down). All borrowers must meet normal loan underwriting requirements for the type of financing being used to purchase the home. Down payment assistance provided by the Home At Last program can be used to cover all or a portion of the down payment required for your loan, and the assistance can even be used to help cover closing costs.
Want to see a snapshot of today's rates and options?
Home At Last™ Program Details
Income Limits
Maximum Income: $165,000
Note: For Conventional loans, if borrowers have income at or below 80% of the Area Median Income (AMI), the income limits are determined by the county where the home is being purchased. For USDA RD Guaranteed loans, all income that meets the USDA guidelines will meet the income eligibility requirements for the Home At Last program. Visit our options page to review more details on the current income limits.
Debt-to-Income Ratio
Maximum DTI: 50%
DTI limits depend on the loan type and credit score. Consult with a lender for details. If debt ratios are too high to qualify, check out the Mortgage Credit Certificate (MCC). For eligible homebuyers, the MCC provides additional qualifying income to lower debt ratios and boost purchasing power - it will totally knock your socks off!
Minimum Credit Score
Minimum credit score is 640 (or 680 for manufactured homes).
First-Time Homebuyer
There is NO first-time homebuyer requirement to participate in the Home At Last™ down payment assistance program. Note: If pairing Home At Last with the MCC, homebuyers will need to meet the first-time homebuyer requirement, which is simply to not have owned a home within the previous 3 years. Qualified Veterans are exempt from first-time buyer requirements.
Residency Requirement
There is no requirement to be a current Nevada resident to qualify for the program.
The home must be occupied as a primary residence within 60 days of closing.
Homebuyer Education
Homebuyer education is required. Check out the options for education here.
Life takes flight with the power of homeownership.
Launchpad 1.0 is designed to deliver a stellar below-market rate (Houston, we have NO problem with a 6.17%!) and out-of-this-world program terms to help our lenders and their borrowers make affordable, rural homeownership happen!
- For first-time homebuyers only (Veterans and those buying in targeted areas exempt from the first-time buyer requirement)
- Launchpad provides 4% down payment assistance paired with 30-year fixed-rate government loans (FHA, VA, USDA-RD) - no conventional option available with this program
- Down payment assistance has a 5-year term that is forgiven at maturity
- Income limits apply - check 'em out below
- Launchpad will be open to southern rural Nevada (rural Clark, Nye and Lincoln counties) for the first 60-days and will then open to NRH's full jurisdiction statewide (areas under 150,000 population) after the first 60 days. Visit HALMap.org for property eligibility in Clark and Washoe counties.
- Funds are limited. Launchpad 1.0 will offer $25 million in mortgage funds – NRH hopes to provide future program issuances after this first launch!
- Launchpad loan reservations opened May 23, 2024
Homeownership, you're cleared for takeoff.
Next steps if you're wanting to get onboard with the Launchpad Homeownership Program:
Start Homebuyer 101 here.
View list of lenders approved to offer Nevada Rural Housing Homeownership Programs here.
*Not all lenders listed will be currently participating in the Launchpad 1.0 program. If you have questions about approved lenders, please contact HAL@NVRural.org.
If you're a lender and need more information, you can check out the program details here.
Launchpad Program Details
Income and Purchase Price Limits
Non-Targeted Area Purchase Price and Income Limits
Effective May 23, 2024
| County | Max. Purchase Price | Max. Income for Households | Max. Income for Households with 3+ People |
| Carson City | $523,595 | $93,081 | $107,043 |
| Churchill | $510,939 | $95,200 | $109,480 |
| Clark | $510,939 | $95,200 | $109,480 |
| Douglas | $674,542 | $120,840 | $140,980 |
| Elko | $510,939 | $106,500 | $122,475 |
| Esmerelda | $510,939 | $94,800 | $109,020 |
| Eureka | $510,939 | $97,400 | $112,010 |
| Humboldt | $510,939 | $92,300 | $106,145 |
| Lander | $510,939 | $108,200 | $124,430 |
| Lincoln | $510,939 | $92,300 | $106,145 |
| Lyon | $510,939 | $92,300 | $106,145 |
| Mineral | $510,939 | $92,300 | $106,145 |
| Nye | $510,939 | $92,300 | $106,145 |
| Pershing | $510,939 | $92,300 | $106,145 |
| Storey | $636,805 | $115,418 | $132,731 |
| Washoe | $636,805 | $115,418 | $132,731 |
| White Pine | $510,939 | $95,200 | $109,480 |
Targeted Area Information, Income and Purchase Price Limits
Department of Housing and Urban Development (HUD) Qualified Census Tracts, also known as targeted areas, allow for a higher purchase price and increased income limits.
Targeted Area Purchase Price and Income Limits
Effective May 23, 2024
| County | Max. Purchase Price | Max. Income for Households | Max. Income for Households with 3+ People |
| Clark | $654,187 | $114,240 | $133,280 |
| Lyon | $654,187 | $110,760 | $129,220 |
| Nye | $654,187 | $110,760 | $129,220 |
| Washoe | $815,234 | $121,440 | $141,680 |
Qualified Census Tracts (also known as targeted areas)
| County | Tracts | |||
| Clark | 57.04 | 57.03 | 60.01* | 22.01* |
| 22.07 | 50.10* | 78.01* | ||
| Lyon | 9602.06 | 9609.01 | ||
| Nye | 9604.11 | 9604.13 | 9604.14 | |
| Washoe | 19.01 | 19.03 | 27.03* |
Find an Address in a Targeted Area
- Access the FFIEC Geocoding System to find information about a specific address by clicking this link: https://geomap.ffiec.gov/FFIECGeocMap/GeocodeMap1.aspx
- Enter complete address. Select the address from the list that appears or click on the image of the magnifying glass to search the address as entered.
- Compare the "Track Code" with the Qualified Census Tracts chart above.
*Indicates a census tract with eligible and ineligible property addresses based on Nevada Rural Housing's rural jurisdiction. Please verify the property address in this census tract is eligible at HALMap.org.
Debt-to-Income Ratio
Maximum DTI: 50%
DTI limits depend on the loan type and credit score. Consult with a lender for details.
NOTE: Launchpad Homeownership Program loans cannot be combined with Nevada Rural Housing’s Mortgage Credit Certificate program due to both programs’ use of tax-exempt subsidies and IRS restrictions.
Minimum Credit Score
Minimum credit score is 640 (or 680 for manufactured homes).
Homebuyer Education
Homebuyer education is required. Check out the options for education here.
Other Borrower Requirements
- First-time homebuyers only. Those who have had an ownership interest in a primary residence in the past three years are ineligible. This requirement is waived for those purchasing in a targeted area or are using the Qualified Veteran’s Exception.
- The property must be a single-family one- or two-unit home, condominium, townhome, modular, or manufactured home converted to real property.
- The property must be the borrower’s primary residence.
- The borrower must occupy the property within 60 days after closing.
- The property must be in a rural area with population under 150,000 within the State of Nevada. Not eligible: The City limits of Reno, Las Vegas, North Las Vegas and Henderson and the unincorporated township limits of Enterprise, Paradise, Spring Valley, and Sunrise Manor. To verify eligibility, use HALMap.org.
- Buyers purchasing in an eligible targeted area are allowed higher purchase price and income limits, and the first-time buyer requirement is waived.
- For the first 60 days, the program will be restricted to Nevada’s three southern counties, including rural Clark, Nye and Lincoln.
- The program will open to all rural areas statewide after the initial 60-day launch period.
- New and existing properties are eligible.
Home Means Nevada Rural Down Payment Assistance
Please Note: The available funds for the Home Means Nevada Rural Down Payment Assistance program are limited and the program may not be available at this time. To view current rates and options, visit HALRates.org.
This limited-time program opens the door to affordable homeownership for Nevada residents who have not owned another home within the previous 3 years.
On April 1, 2024, the Home Means Nevada Rural DPA program will begin offering $35,000 in forgivable down payment assistance to eligible homebuyers purchasing a primary residence located anywhere in rural Nevada (that's any community with a population under 150,000!).
Here's what you need to know:
- $35,000 in forgivable down payment assistance is to be used only for down payment (no closing costs).
- Down payment assistance is secured by a second loan with no interest and no payments, and is fully forgiven on December 31, 2026 (non-prorated).
- To finance the purchase of the home, a 30-year first mortgage with a low fixed rate is provided by a participating lender - rates are available to view online at HALRates.org and homebuyers can find a list of participating lenders at FindANevadaLender.org.
- The Home Means Nevada Rural DPA program expires on December 31, 2024, or when there are no more funds available for the program, whichever occurs first.
Pair the Home Means Nevada Rural DPA program with Nevada Rural Housing's Mortgage Credit Certificates (MCC) program to add the following benefits:
- More income
- Tax-paying homebuyers will pay less federal income tax and can increase their take home pay with the MCC tax credits* that are equal to a percentage of the mortgage interest paid on the home each year (it's a huge savings!).
- More purchasing power
- Lenders can use the MCC estimated tax credits* as additional qualifying income to help homebuyers qualify for a mortgage.
- Lower debt ratios
- For homebuyers with student loans or high amounts of debt, the additional income produced by the MCC tax credits* will lower debt ratios to help more homebuyers qualify for a mortgage.
- More affordable homeownership
- Homebuyers can claim the MCC tax credits* over the life of the loan, as long as the home remains their primary residence.
- Learn more about the MCC program and see how a $345,000 mortgage with a 7.50% interest rate will provide an eligible homebuyer with $429 of additional monthly income*.
*An approved participating lender will determine eligibility for the MCC and DPA programs. Not all applicants will qualify. Example MCC tax credit savings are estimates and for illustrative purposes only. Nevada Rural Housing does not offer this information to solicit a mortgage application or as tax advice. MCC holders or applicants should consult their own tax advisor or the Internal Revenue Service for guidance regarding the calculation of MCC tax credit benefits.
Want to see a snapshot of today's rates and all the homeownership program options provided by Nevada Rural Housing?
Home Means Nevada Program Details
Income Eligibility
The income limits for this program are based on 300% of Federal Poverty Guidelines (FPG) and household size.
| Household Size | Income Limit |
| 1 | $45,180 |
| 2 | $61,320 |
| 3 | $77,460 |
| 4 | $93,600 |
| 5 | $109,740 |
| 6 | $125,880 |
| 7 | $142,020 |
| 8 | $158,160* |
| *For each additional household member add $16,140 |
Residency Requirements
At least one borrower must have a minimum six-month Nevada residency to qualify for the program.
The home must be occupied as a primary residence within 60 days of closing.
First-Time Homebuyer
Must be first-time, rural homebuyers, which is defined as not having owned a home within the past three years. This requirement will also apply to any non-purchasing spouse. Note: Co-signers and non-occupant, co-borrowers are not required to be first-time buyers.
Homebuyer Education
Homebuyer education is required. Check out the options for education here.
How to Apply for Home Means Nevada Rural Down Payment Assistance
Step 1: Contact an approved lender.
Step 2: Tell your lender that you want to buy a home using the Home Means Nevada Rural DPA Program.
Pro-tip: Ask your lender if you also qualify for the MCC!
If you need support please reach out!
Connect with the Homeownership Crew
We love what we do and who we do it for – you, our partners, and the people of rural Nevada. We have a heckuva lot of fun doing it, too.
If you have a question, need some training, want to partner or just have something awesome to say (we'll adore those kinds of messages, too!), let us know.
