Program Rates & Options
Nevada Rural Housing offices will be closed on Wednesday, December 25 and Wednesday, January 1.
eHousingPlus offices will be closed Tuesday-Wednesday, December 24-25 and Wednesday, January 1. The reservation portal will be closed on Wednesday, December 25 and Wednesday, January 1.
Rates as of December 20, 2024
Home At Last™ Advantage Rates & Options
Read a message from our homeownership team about updates to our Home At Last program
| Borrower Assistance | Rates for FHA, VA, & USDA Loans | Rates for Conventional Loans (Fannie Mae or Freddie Mac) – Income Below 80% AMI | Rates for Conventional Loans (Fannie Mae) – Income Above 80% AMI |
| 0% – No DPA | 6.750% | 7.125% | 7.250% |
| 1% of Loan Amount | 7.250% | 7.375% | 7.500% |
| 2% of Loan Amount | 7.750% | 7.750% | 7.875% |
| 3% of Loan Amount | N/A | 8.250% | N/A |
| 4% of Loan Amount | N/A | N/A | N/A |
NOTE: Information is provided as a courtesy only. Participating lenders will determine borrower eligibility and must follow all program, U.S. Bank, and loan agency guidelines, and complete reservations with the rates published with eHousingPlus. Rates are subject to change without notice.
Launchpad Homeownership Program Rates & Options
| Borrower Assistance | Rate for FHA, VA & USDA Loans |
| 4% of Loan Amount | 6.170% |
- All non-targeted area program funds have been allocated at this time but targeted area program funds are still available*.
- You may continue to see Launchpad as an option in the eHousing reservation portal for non-targeted area loans until all previously reserved loans have closed.
- While we don’t have information to release about future Launchpad plans right now, we encourage you to keep your contact information updated with us (you can do that here) and review each rate flash for updates.
- In the meantime, be sure to check out our Home At Last options daily!
- And don't forget about Nevada Rural Housing's powerful Mortgage Credit Certificate program (which can be used with Home At Last and non-program loans)! To learn more about how your borrowers can save thousands on their taxes and boost their qualifying income, visit HALMCC.org.
* Targeted area census tracts are available here. Lenders with a loan in a targeted area, or who have questions regarding targeted area loans, should contact Kevin Hickey at kevin@nvrural.org.
NOTE: The rate for Launchpad 1.0 will not change from day to day and is fixed for the program while funding remains available. Information is provided as a courtesy only. Participating lenders will determine borrower eligibility and must follow all program, U.S. Bank, and loan agency guidelines, and complete reservations with the rates published with eHousingPlus.
Are you looking for the Mortgage Credit Certificate (MCC) program? Go here.
Are you a homebuyer looking for a lender? Find one here.
Program Requirements Snapshot
Credit Score Requirements for All Programs
- Purchases:
- 640 (or 680 for manufactured homes)
- Refinances (Refinancing is permitted with the Home At Last™ program only):
- 640 (or 680 for manufactured homes)
- Maximum Debt-to-Income (DTI) Ratios:
- Refer to Administrator's Guidelines
Income Limits
Home At Last™ Program:
- $165,000, unless the loan agency has more restrictive limits
- USDA RD loans have different income limits based on household size - all USDA RD loans meet the program income eligibility requirements, even if the household income exceeds $165,000
- For Conventional loans, if borrower income is 80% or less of the Area Median Income (AMI) charter-level mortgage insurance will apply on Fannie Mae or Freddie Mac Conventional loans, and the first mortgage rate will be lower than for Conventional loans with borrower income exceeding 80% AMI. The 80% AMI limits by County are posted below, or you can use the Fannie Mae AMI Lookup Tool or Freddie Mac AMI Lookup Tool.
| County | 80% AMI Limit |
| Carson City | $74,800 |
| Churchill | $75,680 |
| Clark | $67,120 |
| Douglas | $78,640 |
| Elko | $85,360 |
| Humboldt | $77,120 |
| Lander | $87,680 |
| Storey | $83,520 |
| Washoe | $83,520 |
| White Pine | $74,960 |
All Other Counties | $74,000 |
Launchpad 1.0 Homeownership Program:
Non-Targeted Area Income Limits
For targeted area information and limits, go here.
| County | Max. Income for Households | Max. Income for Households with 3+ People |
| Carson City | $93,081 | $107,043 |
| Churchill | $95,200 | $109,480 |
| Clark | $95,200 | $109,480 |
| Douglas | $120,840 | $140,980 |
| Elko | $106,500 | $122,475 |
| Esmerelda | $94,800 | $109,020 |
| Eureka | $97,400 | $112,010 |
| Humboldt | $92,300 | $106,145 |
| Lander | $108,200 | $124,430 |
| Lincoln | $92,300 | $106,145 |
| Lyon | $92,300 | $106,145 |
| Mineral | $92,300 | $106,145 |
| Nye | $92,300 | $106,145 |
| Pershing | $92,300 | $106,145 |
| Storey | $115,418 | $132,731 |
| Washoe | $115,418 | $132,731 |
| White Pine | $95,200 | $109,480 |
Purchase Price Limits
- Home At Last Program:
- The Home At Last™ program does not establish a maximum or minimum purchase price.
- Launchpad 1.0 Homeownership Program
Non-Targeted Area Purchase Price Limits- For targeted area purchase price limits, go here.
| County | Max. Purchase Price |
| Carson City | $523,595 |
| Churchill | $510,939 |
| Clark | $510,939 |
| Douglas | $674,542 |
| Elko | $510,939 |
| Esmerelda | $510,939 |
| Eureka | $510,939 |
| Humboldt | $510,939 |
| Lander | $510,939 |
| Lincoln | $510,939 |
| Lyon | $510,939 |
| Mineral | $510,939 |
| Nye | $510,939 |
| Pershing | $510,939 |
| Storey | $636,805 |
| Washoe | $636,805 |
| White Pine | $510,939 |
Loan Limits
- Lenders must follow loan agency limits, as applicable. The current loan limits are:
- FHA Loans:
- VA & USDA Loans:
- No limit
- Conventional Loans: Conforming Loan Limit Map.
- $726,200
- Jumbo loans are not permitted
Loan amounts for the Launchpad Homeownership Program may not exceed the limits established by loan agency.
Second Mortgage Details
- Home At Last Program:
- 30-year term with no interest and no payments
- Assistance is forgiven at the end of the 30-year term (not prorated)
- If a borrower sells, refinances, or prepays the first mortgage prior to the end of the 30-year term, the original amount of down payment assistance is repayable to Nevada Rural Housing
- Launchpad 1.0 Homeownership Program:
- 5-year term with no interest and no payments
- Assistance is forgiven at the end of the 5-year term (not prorated)
- If a borrower sells, refinances, or prepays the first mortgage prior to the end of the 5-year term, the original amount of down payment assistance is repayable to Nevada Rural Housing
First Mortgage Details
All Programs:
- All first mortgages are for a term of 30 years with a fixed rate established by Nevada Rural Housing
- Mortgage rates are determined by program, loan type, and amount of assistance provided
- Mortgage options with down payment assistance will include a forgivable second mortgage for the amount of the assistance - refer to the Second Mortgage Details section for additional information.
- Launchpad 1.0 Homeownership Program will remain open until program funding has been fully obligated.
Mortgage Tax Credits
Nevada Rural Housing offers the only Mortgage Credit Certificate (MCC) program in Nevada.
- For qualified borrowers, the MCC tax credit may be paired with the Home At Last™ program offered by Nevada Rural Housing, or the MCC can be paired with any eligible non-program loan (referred to as a standalone MCC). The MCC cannot be paired with Launchpad.
- The MCC may provide qualified borrowers with additional qualifying income to increase buying power and lower debt-to-income ratios to help more Nevadans qualify to buy a home of their own.
- MCCs are available for borrowers who have not owned a home for the previous 3 years, or who meet the definition of a qualified veteran
- Click to view the MCC Income & Purchase Price Limits.
Lender Resources / U.S. Bank Guides
Rates shown are effective for the date indicated and subject to change without notice. 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. Home At Last™, Home Means Nevada Rural DPA, Buy in Nye, and Mortgage Credit Certificate (MCC) are programs of Nevada Rural Housing and separate guidelines will apply for each program. 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. The publishing of this information is not an offer to lend money or solicit a mortgage application.
