Nevada Home is Possible: Teachers K-12 Downpayment Assistance Program

Todd and Oana talk about the Nevada Home is Possible for teachers K-12 downpayment assistance program. This is a First time homebuyer program

Home is Possible for Teachers (K-12)

This program is available through June 30, 2021

Key Benefits:
$7,500 in closing costs
Usable for down payment and closing costs
Forgivable after five years (if you stay in your home)
Below-market fixed interest rate 30-year loan \
Statewide program
No first-time homebuyer requirement
Program Requirements:
Borrower may not own property at the time of closing
Must be a licensed full-time K-12 public school classroom teacher in Nevada
Qualifying income below $105,000
Home price below $548,250
Minimum credit score of 660 for FHA / 640 for VA, USDA (680 for manufactured homes)
Government insured loans only (no conventional loans)
Teacher must live in home as primary residence
Homebuyer education course required
Must meet standard underwriting requirements
One-time fee of $755 on first mortgage…

Oana Sterlacci-Miller

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