City of Fallon – Military Home Buyer Programs

Nevada Housing Divisions Home is Possible for Heroes Program (HIP-P)  is offered in the City of Fallon . This program offers active military (Army, Navy, Air Force, Marines, National Guard, Coast Guard) personnel to receive down payment help on a home purchase. This program allows qualifying military service members who live within the City of Fallon or anywhere statewide to receive up to a 5% grant towards a home down payment and/or closing costs. No need to repay this any portion of this grant!

Benefits – City of Fallon Military Housing Down Payment Assistance

• Available to residents of the City of Fallon and also throughout the state of Nevada.
• Not required to be your first home purchase.
• Mortgage Credit Certificate (MCC) can be combined with this HIP-H program.
• Low monthly mortgage rate with market fixed interest rate on 30-year loans.
• Program fees waived for all veterans.

Requirements – City of Fallon Military Housing Down Payment Assistance

• Must be active military personnel, a veteran, surviving spouse, or National Guard member.
• Income is no more than $95,500.
• Your minimum credit score is 640 or higher.
• Desired homes purchase price is under $400,000. Take a look at the City of Fallon qualifying home listings.
• As of February 1, 2016, manufactured housing loans will be available for government loans.
• Only for Government issued loans – no conventional loans.
• Home purchased must be your primary residence.
• Attend required home buyer class.
• You  must meet the minimum requirements for underwriting.
• Pay a one-time fee of $675.

City of Fallon Home Buyer Programs