Carson City, NV - February 24, 2020
Nevada Housing Division’s Home Is Possible (HIP) programs have helped 21,970
homebuyers realize the dream of homeownership in Nevada since the program launched
in September 2014 through calendar year 2019. This number includes 1,497 veterans and active
military personnel served by the HIP for Heroes program and 796 Nevada teachers
through the HIP for Teachers program.
HIP program is designed to help credit-worthy individuals and families get into
homes – people who can afford a monthly mortgage payment but may have a hard
time coming up with a down payment. It provides a down payment grant of up to
five percent of the loan amount for buyers with a household income of less than
$98,500 and do not own a residential property at the time of closing. The buyer
must meet standard underwriting requirements, complete a homebuyer education
course and live in the home as their primary residence.
programs are provided through 89 mortgage company partners throughout the
state. The mortgage companies work with the buyers to ascertain the best
solution for their specific situation and then walk them through the process.
Home Is Possible programs are funded using a private/public partnership model,
which has provided $187 million toward down payment and closing costs for a
total of $4.6 billion in closed mortgages since the program was founded just
over 5 years ago.
details about the programs or a HIP-qualified lender, visit http://homeispossiblenv.org.
About the Nevada Housing Division
Our mission is to provide affordable housing opportunities
and improve the quality of life for Nevada residents. Nevada Housing Division,
a division of the State of Nevada Department of Business and Industry, was
created by the Nevada State Legislature in 1975. NHD is committed to making
Nevada a better place to live and work. We connect Nevadans with homes by
providing financing to developers to build affordable apartment homes, by
providing innovative mortgage solutions, and by making more homes energy efficient,
thereby lowering utility expenses. To learn more, visit http://housing.nv.gov.
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