City of Reno – First Time Home Buyer Programs

The Nevada Housing Division offers a down payment assistance program called Home is Possible (“HIP”). This program allows qualifying City of Reno home buyers to receive up to 5% of the loan amount towards their down payment and closing costs. For example, with a $300,000 loan amount, this program would offer a grant of up to $15,000 to be used towards down payment and closing costs. This grant does not need to be repaid.

Benefits – Home Is Possible for City of Reno Down Payment Assistance

• HIP down payment assistance is available anywhere in the City of Reno and statewide.
• Receive up to 5% of the loan amount for down payment and/or closing costs.
• Grant is non-repayable.
• Competitive 30 year interest rates for conventional and government loan types (FHA, VA)
• Down payment grants can be combined with Federal Income Tax Rebates through Mortgage Credit Certificate (MCC) Program.
• Program is for anyone buying a home within the City of Reno that falls under the minimum program requirements below.

Requirements – Home Is Possible for Reno Down Payment Assistance

• You must occupy the purchased Reno home as a primary residence.
• Your income is below $95,500.
• Desired homes purchase price is under $400,000. See Reno homes for sale that qualify for down payment assistance now.
• Your credit score is a minimum of 640.
• You meet the normal government or conventional requirements for underwriting.
• Attend a required home buyer course.
• Pay a one-time fee of $675.

Get Started! Complete the form below to see if you qualify for this program.

City of Reno Home Buyer Programs