Simplifying The First Time Home Buyer Program in Las Vegas Nv
Buying a house as a first time home buyer can be an intimidating process. But don’t worry – there are several programs available to help first-time home buyers on their journey to homeownership and The Quiazon Group Real Estate is here to guide you.
This guide provides an overview of the various Las Vegas first time home buyer programs that can assist with down payment assistance and other incentives.
HIP Promgram ( Home Is Possible )
The Home is Possible Program also called HIP Program offers interest-free down payment assistance with a very competitive interest rate to give home buyers more buying power.
KEY BENEFITS :
- Down payment assistance up to 4% of the total loan.
- Usable for down payment and closing costs.
- Forgivable after 3 years as long as you stay in your home for that length of time.
- 30-year fixed interest rate which is very good.
- Statewide program.
PROGRAM REQUIREMENTS :
- Must be a first-time homebuyer who has not owned a home in the past 3 years of application.
- Maximum purchase price varies by county limits ( we can discuss further when we meet ).
- Minimum credit score of 660 ( 680 for manufactured homes ).
- Must live in home as primary residence.
- Must meet standard underwriting requirements
- Homebuyer education
The Home Is Possible Program (HIP) is a widely used down payment program in the state of Nevada.
If you are a first responder, a health care worker, and a casino employee, there are other programs that could be of a benefit to you as a First Time Home Buyer. Most of these programs follow the guidelines above with the requirement to show proof of you being part of these groups.
For more information and to discuss down payment assistant programs further, please reach out to me at (702) – 850 – 0298.