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Drawing by Loren Ayala, 4th grade,
Ferron Elementary School. From the Nevada Housing Division's
School Arts Competition, "Where I Live."
FIRST
TIME HOMEBUYER PROGRAM
For Participating Lenders -- FICO
Requirements for FHA/VA Bond Loans
Program Bulletin for Income and Sales
Price Limits
    
Employer
Assisted Housing Program
NAHA
Deferred Loan Program
The Nevada Housing Division First Time
Homebuyer Program offers to low- and
moderate- income first time homebuyers
fixed interest rate 30-year
loans with additional
assistance available
for down payment and closing costs.
Qualification
Guidelines
- A first-time homebuyer is
someone who has not owned or co-owned
their own residence within the past
three years.
If purchasing in a Targeted
Area there are no restrictions on
former home ownership.
- The purchase price of the
residence you wish to buy may not
exceed the Maximum Purchase Price
Limits for the area in which it’s
located.
- Assets, including without
limitation, may not exceed 50 percent
of the purchase price of the residence
being purchased, unless disabled or
elderly and such assets are the
primary source of income. There is a
lower asset test for down-payment loans
-- maximum $5,000.
- Income must support the
repayment of the loan pursuant to the
underwriting criteria applied by FHA,
VA, RHS, or Fannie Mae, as applicable.
- Credit must meet the
underwriting criteria applied by FHA,
VA, RHS, or Fannie Mae, as applicable.
- Successfully completes a HUD
approved in-person 6 to 8 hour Homebuyer
Counseling Course.
■
Steps to Obtain a First Time
Homebuyer Loan
■ A
Guide to Recapture
■ On-Line Single
Family Brochure
En
Español
Guia sobre
impuesto de recobro
Programa para primeros compradores
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