First Time Home Buyer

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The program was designed by the City of Henderson to assist low income families in the purchase of a home.

Information and Requirements: Couple looking at their new home

City of Henderson will assist with a 0% interest deferred loan not to exceed 6% for down payment and closing costs.
Loans up to 3.5% in closing costs and includes extra financing for home repairs.
Applicants must either work/reside in Henderson for at least 1 year prior to application.
Must not have owned a home in the last 3 years.
Complete a First Time Home Buyer Education program.
Minimum Investment: $750 of own funds toward purchase of the home and $750 in reserves.
Proposed properties must be within City of Henderson and below the FHA maximum mortgage limit of $304,000 purchase price.
No interest charges or monthly payments.
Loan must be paid back.

Additional Information:

Income must be at or below 80% of the annual median income.

Annual Income (80%)
Number of Persons in Household
1 35,750	2 40,900	3 46,000	4 51,100	5 55,200	6 59,300	7 63,350	8 67,450