City of Sparks – 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 Sparks 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 – with no repayment requirements!

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

• HIP down payment assistance can be used anywhere in the City of Sparks and statewide.
• Receive up to 5% of the loan amount for down payment and/or closing costs.
• Grant does not need to be repaid.
• Competitive 30 year interest rates for conventional and government loan types (FHA, VA)
• HIP grants can be combined with Federal Income Tax Rebates through Mortgage Credit Certificate (MCC) Program.
• This program is for anyone buying a home within the City of Sparks that qualifies under the program requirements below.

Requirements – Home Is Possible for Sparks Down Payment Assistance

• You must occupy the home to be purchased in Sparks as a primary residence.
• Your income is below $95,500.
• Desired homes purchase price is under $400,000. See Sparks homes for sale – that qualify for down payment assistance.
• Your credit score is a minimum of 640.
• You meet the normal government or conventional requirements for underwriting.
• You 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 Sparks Home Buyer Programs