LAS VEGAS (KTNV) — Through the Home Means Nevada Initiative, Nevada's local housing leaders are offering affordable homeownership alternatives to all corners of the state. Nevada Housing Division and Nevada Rural Housing have each received $10 million from the project.
These organizations are introducing down payment assistance programs that will give qualified first-time homebuyers up to $15,000 in DPA. According to a release, the help will take the shape of a second mortgage with no payments or interest that will be forgiven after three years of property ownership.
Participants in the DPA programs must be first-time homebuyers (they cannot have owned a property in the previous three years), have a minimum of six months of Nevada residence, and complete a homebuyer education course.
On November 21, the Nevada Housing Division announced the Home First Program DPA program, which is now available throughout the state.
