Program Rates & Options
Rate Sheets are effective for loans reserved/locked on November 28, 2023.
- Home At Last™ Rate Sheet
- Home Means Nevada Rate Sheet (65 loans still available)
Are you looking for the Mortgage Credit Certificate (MCC) program? Go here.
Are you a homebuyer looking for a lender? Find one here.
Home At Last™ Advantage Rates & Options
| 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 | 7.125% | 7.250% | 7.375% |
| 1% of Loan Amount | 7.625% | 7.375% | 7.750% |
| 2% of Loan Amount | 8.000% | 7.750% | 8.000% |
| 3% of Loan Amount | N/A | N/A | N/A |
| 4% of Loan Amount | 8.250% | 8.000% | 8.500% |
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.
Home Means Nevada Rural DPA Program Rates & Options
66 loans still available
| 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 |
| $25,000 | 7.125% | 7.250% | 7.375% |
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.
Buy in Nye Homeownership Program Rates & Options
| 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 |
| $15,000 | N/A | N/A | N/A |
| $30,000 | N/A | N/A | N/A |
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 |
- Home Means Nevada Rural DPA Program & Buy in Nye Homeownership Program:
- 300% of Federal Poverty Guidelines (FPG) based on household size
- If the loan agency has lower income limits, borrowers must meet the lower limit to meet the income eligibility requirements
| Household Size | Income Limit |
| 1 | $43,740 |
| 2 | $59,160 |
| 3 | $74,580 |
| 4 | $90,000 |
| 5 | $105,420 |
| 6 | $120,840 |
| 7 | $136,260 |
| 8 | $151,680* |
| *For each additional household member add $15,420 |
Purchase Price Limits
- Home At Last Program:
- The Home At Last™ program does not establish a maximum or minimum purchase price.
- Home Means Nevada Rural DPA Program & Buy in Nye Homeownership Program:
- $647,200
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 Home Means Nevada & Buy in Nye programs may not exceed the limits established for the programs.
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
- Home Means Nevada Rural DPA Program & Buy in Nye Homeownership Program:
- 3-year term with no interest and no payments
- Assistance is forgiven at the end of the 3-year term (not prorated) or December 31, 2026, whichever occurs first
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.
- Home Means Nevada Rural DPA Program expires on December 31, 2024, or when available funds have been fully obligated.
- Buy in Nye Homeownership Program expires on November 28, 2023, or when available funds have 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 any program offered by Nevada Rural Housing, or the MCC can be paired with an eligible non-program loan (referred to as a standalone MCC).
- 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.
