Home Down Payment Assistance – Teachers
The Nevada Housing Division offers a program called Home is Possible for Teachers to help Nevada teachers with down payment assistance when purchasing a home. The program will provide up to $10,000 towards down payment and/or closing costs for K-12 public school teachers.
Benefits – Teacher Home Down Payment Program
- Program available statewide.
- $10,000 in bonus money usable toward down payment and closing costs. (forgivable after 5 years of continued occupancy).
- No requirement to be a first-time home buyer.
- Reduced monthly mortgage payments due to fixed below market interest rate.
- Can combine with the MCC (Mortgage Credit Certificate) program.
Requirements – Teacher Home Down Payment Program
- Must be a licensed full-time K-12 public school teacher in Nevada.
- Teachers income must be below $95,500.
- Teachers credit score is at least 660.
- Desired home purchase price below $400,000. See Northern Nevada homes for sale that qualify for down payment assistance now.
- Only for Government insured loans.
- Teacher must occupy home as primary residence.
- Teacher meets standard underwriting requirements.
- Program fee of $675 (one-time).
- Funding limited to 300 teachers.
Get Started! Complete the form below to see if you qualify for this program.
