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Hope Brings you Home Down Payment Assistance Program

5/4/2018

Hope Brings You Home is a new down payment assistance (DPA) program coming soon to much of southern Nevada (see below for list of zip codes), focusing on areas still considered distressed from the housing crisis. This first come, first served program will operate until its $36 million in funds are distributed. Nevada Affordable Housing Assistance Corp (NAHAC), administrator of the Nevada Hardest Hit Fund®, has partnered with NHD to administer Hope Brings You Home and make these funds available to Nevadans who can benefit.

Program Highlights:

10% DPA, up to $20,000 for down payment and/or closing costs
Once the program launches, rates will be available
3-year, no interest, no payment, forgivable note
105% Maximum CLTV

Eligibility Requirements:
Loan Types: FHA, VA, USDA and HFA Preferred Conventional
Eligible Properties: Existing single-family properties including townhomes, condos and manufactured homes. No new construction.

Purchase Price under $400,000
Household income under $98,500
Debt Ratio 45% (FHA, VA & USDA), 50% (HFA Preferred Conv
Minimum Credit Score 660 (FHA), 640 for all other loan type
Homebuyer Education required
Loans which have already been reserved under the Home Is Possible program cannot be transferred to the Hope Brings You Home program.

Once the program launches, you'll be able to reserve your loan through eHousingPlus.

Eligible areas:
Zip Codes: 89011, 89030, 89031, 89032, 89048, 89060, 89081, 89101, 89102, 89103, 89104, 89106, 89107, 89108, 89109, 89110, 89115, 89118, 89119, 89120, 89121, 89122, 89128, 89142, 89146, 89156, 89169