City of Henderson Neighborhood Services First Time Homebuyer Program
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The City of Henderson's First Time Homebuyer Program was designed to assist low-income families in the purchase of a home. The City of Henderson will assist with an interest-free deferred loan not to exceed 6% of the purchase price or $10,000, whichever is less, for down payment and closing costs. Additionally, the program will loan up to $35,000 for home repairs.
- Applicants must have lived or worked in Henderson for one (1) year prior to applying.
- Applicants must not have owned a home in the last three (3) years.
- A Homebuyer Education Program must be attended.
- Applicant must make a minimum investment of $1,500 of their own funds toward the purchase of the home.
- Income must be at or below 80% of the annual median.
- Proposed properties must be within City of Henderson.
- No interest charges or monthly payments.
- Loan must be paid back.
For more information please contact our office at 702-267-2000
Other available down payment assistance programs:
Home is Possible from the Nevada Housing Division
The State of Nevada's Home is Possible Down Payment Assistance Program is a grant program that helps make the dream of home ownership a reality for qualified Nevadans. Introduced in 2014, this program helps those who can afford a market rate mortgage, but whose savings fall short of the amount needed for entry costs.
- Fixed interest rate 30-year loan
- No first-time homebuyer requirement
- Grant is non-repayable
- Must be homebuyer's primary residence
- No asset limits for homebuyers
- Minimum credit score of 640 for government insured loans, 660 for manufactured homes and 680 for most conventional loans
- Qualifying income on mortgage application must be below $95,500
- Home price below $400,000
- Homebuyer education course required
- Must meet normal government or conventional loan underwriting requirements
For more information please contact the Nevada Housing Division at 702-486-7220 x225 or visit their website at http://housing.nv.gov/programs/FTH/Home_is_Possible/.