Carson City, NV -
February 12, 2016
Robust
job creation and a growing economy point to a strong year for housing in
northern Nevada. Individuals that are ready to buy or just want to learn
more about the process can attend a free home buying seminar scheduled for
11:00 am, February 20 at 5909 S. Virginia Street, Suite 300 (Bank of America
building). The event is free and open to the public, but registration
required.
The
Nevada Housing Division (NHD) is teaming with local industry professionals to
provide guidance regarding the process and education about ways to overcome
potential obstacles to homeownership like limited or damaged credit.
Presenters will also cover how to navigate today’s market conditions to find
the right home.
NHD
staff will present information on down payment and closing cost assistance,
including special programs for veterans and members of the military.
“Having
an affordable mortgage is important to supporting the growing Nevada
workforce,”
explains CJ Manthe, NHD Administrator.
“Homeownership is
also essential to support strong and vibrant communities. We are able to help
nearly 20 families every day receive the keys to their new home.”
Home
Is PossibleTM, NHD’s down payment grant assistance program, helps
buyers who can afford a monthly mortgage payment but may not have enough
savings to pay out of pocket for the down payment or closing costs. A grant of
up to 5 percent of the loan amount is available for qualified borrowers with no
requirement for those funds to be repaid. Additional requirements include:
·
Homebuyer
must purchase the home to occupy as their primary residence
·
Minimum
credit score of 640 for government insured loans; 680 for manufactured homes
and conventional loans
·
Home
purchase price under $400,000
·
Qualifying
income on mortgage application must be below $95,500
·
Borrowers
must complete an approved home buyer education course
After
attending a seminar last year, Mike and Dixie Beam moved forward with the
process of purchasing a home. “
Working with the team made the process easy
and we wouldn’t have been able to purchase a home without the down payment
grant we received from the Home Is Possible program
,” said the Beams.
The
seminar is sponsored by ReMax Professionals, IServe Residential Lending,
Country Financial and the Nevada Housing Division. To register for the
seminar, please email myrenohome@gmail.com
or call (775) 338-4126.
To
learn more about the Home Is PossibleTM program, visit www.HomeIsPossibleNV.org.
About
NHD
Created
by the Nevada Legislature in 1975, the Nevada Housing Division was created to
encourage the investment of private capital and stimulate the financing of
affordable housing through the use of public financing to provide mortgage
loans and to make loans to and purchase mortgage loans from mortgage lenders,
and to perform any other function authorized by NRS 319. The Division
provides low interest rate mortgages and down payment assistance to qualifying
individuals and provides funding for affordable multi-family housing
developments for seniors and families. In addition, the Division oversees
the Hardest Hit Fund, which assists homeowners at risk of default or
foreclosure.
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