Today’s Rates

Rates as of January 2, 2024*

HIP for First-Time Homebuyers

HIP Programs
FHA, VA & USDA
FICO Credit Score
640
Mortgage Rate
6.875%
Down Payment Assistance
w/2%
Second Mortgage
7-yr forgivable
Description

Home Is Possible for First-Time Homebuyers Highlights (FHA/VA/USDA-RD) 

  • You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
  • Maximum purchase price & income limits per county: (View the limits by clicking on this link)
  • (see link under rate sheet for Targeted Areas)
  • Household income must be used in determining income
  • Cosigner’s income does not count towards income limits
  • Minimum credit score 640 (680 for manufactured homes)
  • Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score (45% for Manufactured Homes)
  • DPA is in the form of a no interest, no payment 7-year forgivable note.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

HIP Programs
FHA, VA & USDA
FICO Credit Score
640
Mortgage Rate
7.375%
Down Payment Assistance
w/4%
Second Mortgage
7-yr forgivable
Description

Home Is Possible for First-Time Homebuyers Highlights (FHA/VA/USDA-RD) 

  • You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
  • Maximum purchase price & income limits per county: (View the limits by clicking on this link)
  • (see link under rate sheet for Targeted Areas)
  • Household income must be used in determining income
  • Cosigner’s income does not count towards income limits
  • Minimum credit score 640 (680 for manufactured homes)
  • Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score (45% for Manufactured Homes)
  • DPA is in the form of a no interest, no payment 7-year forgivable note.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

HIP Programs
Conventional
FICO Credit Score
640
Mortgage Rate
6.875%
Down Payment Assistance
w/2%
Second Mortgage
7-yr forgivable
Description

First-time Homebuyer DPA Program

  • You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
  • Maximum purchase price: Follow Agency Guidelines with a maximum of $570,000
  • 80% of County AMI or less (View the limits by clicking on this link)
  • Household income must be used in determining income
  • Cosigner's income does count towards program income limits (Fannie & Freddie requirement)
  • Minimum credit score 640 (680 for Manufactured Homes)
  • Maximum debt ratio: 50% (45% for Manufactured Homes)
  • DPA is in the form of a no interest, no payment 7-year forgivable note

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

HIP Programs
Conventional
FICO Credit Score
640
Mortgage Rate
7.375%
Down Payment Assistance
w/4%
Second Mortgage
7-yr forgivable
Description

First-time Homebuyer DPA Program

  • You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
  • Maximum purchase price: Follow Agency Guidelines with a maximum of $570,000
  • 80% of County AMI or less (View the limits by clicking on this link)
  • Household income must be used in determining income
  • Cosigner's income does count towards program income limits (Fannie & Freddie requirement)
  • Minimum credit score 640 (680 for Manufactured Homes)
  • Maximum debt ratio: 50% (45% for Manufactured Homes)
  • DPA is in the form of a no interest, no payment 7-year forgivable note.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

HIP Specialty Programs

HIP Programs
Teachers - FHA, VA & USDA
FICO Credit Score
640
Mortgage Rate
6.500%
Down Payment Assistance
$7,500
Second Mortgage
5-yr prorated
Description

HIP for Teachers FHA Highlights

  • Maximum purchase price - $766,550
  • Maximum income limit - $140,000
  • Non-purchasing spouse's income must be included when determining qualified income
  • Cosigner's income does not count towards income limits
  • Minimum credit score 640 (680 for manufactured homes)
  • Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score (45% for Manufactured Homes)
  • Purchaser cannot own other property at time of close
  • Must be a Nevada licensed K-12 public or public charter school full-time classroom teacher
  • $7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

HIP Programs
Teachers - Conventional
FICO Credit Score
640
Mortgage Rate
6.750%
Down Payment Assistance
$7,500
Second Mortgage
5-yr prorated
Description

HIP for Teachers Conventional Highlights

  • Maximum purchase price - $766,550
  • Maximum income limit - $140,000
  • Non-purchasing spouse's income must be included when determining qualified income
  • Cosigner's income does count towards program income limits (Fannie & Freddie requirement)
  • Minimum credit score 640 (680 for manufactured homes)
  • Maximum debt ratio: 50% (45% for Manufactured Homes)
  • Purchaser cannot own other property at time of close
  • Must be a Nevada licensed K-12 public or public charter school full-time classroom teacher
  • $7,500 DPA is in the form of a no interest, no payment prorated 5-year forgivable note.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

HIP Programs
Heroes - VA & USDA
FICO Credit Score
640
Mortgage Rate
6.500%
Down Payment Assistance
w/0%
Second Mortgage
N/A
Description

HIP for Heroes Highlights 

  • Maximum purchase price - $766,550
  • Maximum income limit - $140,000
  • Non-purchasing spouse's income must be included when determining qualified income
  • Cosigner's income does not count towards income limits
  • Minimum credit score 640 (680 for manufactured homes)
  • Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score (45% for Manufactured Homes)
  • VA and USDA-RD loans only
  • Purchaser cannot own other property at the time of close

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

Home Is Possible DPA

HIP Programs
FHA, VA & USDA
FICO Credit Score
640
Mortgage Rate
6.625%
Down Payment Assistance
w/3%
Second Mortgage
30-yr
Description

Eligible borrowers must qualify for and meet all requirements of the HIP DPA Program. Allowable first mortgage loans will be mortgages that are 30-year, fixed-rate loans from the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture-Rural Development (USDA-RD), Fannie Mae and Freddie Mac.

  • Income Limit: $140,000 based on borrower(s) qualified income.
  • Purchase Price: $766,550 but lenders must comply with all applicable loan agency limits.
  • Minimum Credit Score: 640 (680 for manufactured homes)
  • Maximum Debt Ratio: 50% if 680+ credit score; 45% if less than 680 credit score (45% for manufactured homes).
  • Borrower(s) cannot own other property at the time of close. This includes Non-Purchasing Spouse, if applicable.    
  • Each borrower must complete a homebuyer education course before closing. The homebuyer education requirement may be met by taking a pre-purchase course from a list of providers approved by the Nevada Housing Division.             
  • The homebuyer must go through one of the approved and participating mortgage lenders. The lender will be the borrower’s point of contact throughout the process, working with the homebuyer to obtain a qualifying mortgage and registration for the DPA loan.
  • Residential Units only, new or existing, one-four units, detached or attached condos, townhomes, or manufactured homes.
  • Must be the borrower’s primary residence.
  • Property must be located in the State of Nevada
  • Meet all applicable DPA and Ginnie Mae (FHA, VA, USDA-RD), Fannie Mae and Freddie Mac underwriting guidelines.
HIP Programs
FHA, VA & USDA
FICO Credit Score
640
Mortgage Rate
6.625%
Down Payment Assistance
w/5%
Second Mortgage
30-yr
Description

Eligible borrowers must qualify for and meet all requirements of the HIP DPA Program. Allowable first mortgage loans will be mortgages that are 30-year, fixed-rate loans from the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture-Rural Development (USDA-RD), Fannie Mae and Freddie Mac.

  • Income Limit: $140,000 based on borrower(s) qualified income.
  • Purchase Price: $766,550 but lenders must comply with all applicable loan agency limits.
  • Minimum Credit Score: 640 (680 for manufactured homes)
  • Maximum Debt Ratio: 50% if 680+ credit score; 45% if less than 680 credit score (45% for manufactured homes).
  • Borrower(s) cannot own other property at the time of close. This includes Non-Purchasing Spouse, if applicable.    
  • Each borrower must complete a homebuyer education course before closing. The homebuyer education requirement may be met by taking a pre-purchase course from a list of providers approved by the Nevada Housing Division.             
  • The homebuyer must go through one of the approved and participating mortgage lenders. The lender will be the borrower’s point of contact throughout the process, working with the homebuyer to obtain a qualifying mortgage and registration for the DPA loan.
  • Residential Units only, new or existing, one-four units, detached or attached condos, townhomes, or manufactured homes.
  • Must be the borrower’s primary residence.
  • Property must be located in the State of Nevada
  • Meet all applicable DPA and Ginnie Mae (FHA, VA, USDA-RD), Fannie Mae and Freddie Mac underwriting guidelines.
HIP Programs
Conv 80% AMI
FICO Credit Score
640
Mortgage Rate
7.750%
Down Payment Assistance
w/3%
Second Mortgage
30-yr
Description

Eligible borrowers must qualify for and meet all requirements of the HIP DPA Program. Allowable first mortgage loans will be mortgages that are 30-year, fixed-rate loans from the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture-Rural Development (USDA-RD), Fannie Mae and Freddie Mac.

  • Income Limit: $140,000 based on borrower(s) qualified income.
  • Purchase Price: $766,550 but lenders must comply with all applicable loan agency limits.
  • Minimum Credit Score: 640 (680 for manufactured homes)
  • Maximum Debt Ratio: 50% with 640+ credit score.
  • Borrower(s) cannot own other property at the time of close. This includes Non-Purchasing Spouse, if applicable.    
  • Each borrower must complete a homebuyer education course before closing. The homebuyer education requirement may be met by taking a pre-purchase course from a list of providers approved by the Nevada Housing Division.             
  • The homebuyer must go through one of the approved and participating mortgage lenders. The lender will be the borrower’s point of contact throughout the process, working with the homebuyer to obtain a qualifying mortgage and registration for the DPA loan.
  • Residential Units only, new or existing, one-four units, detached or attached condos, townhomes, or manufactured homes.
  • Must be the borrower’s primary residence.
  • Property must be located in the State of Nevada
  • Meet all applicable DPA and Ginnie Mae (FHA, VA, USDA-RD), Fannie Mae and Freddie Mac underwriting guidelines.
HIP Programs
Conv 80% AMI
FICO Credit Score
640
Mortgage Rate
7.875%
Down Payment Assistance
w/5%
Second Mortgage
30-yr
Description

Eligible borrowers must qualify for and meet all requirements of the HIP DPA Program. Allowable first mortgage loans will be mortgages that are 30-year, fixed-rate loans from the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture-Rural Development (USDA-RD), Fannie Mae and Freddie Mac.

  • Income Limit: $140,000 based on borrower(s) qualified income.
  • Purchase Price: $766,550 but lenders must comply with all applicable loan agency limits.
  • Minimum Credit Score: 640 (680 for manufactured homes)
  • Maximum Debt Ratio: 50% with 640+ credit score.
  • Borrower(s) cannot own other property at the time of close. This includes Non-Purchasing Spouse, if applicable.    
  • Each borrower must complete a homebuyer education course before closing. The homebuyer education requirement may be met by taking a pre-purchase course from a list of providers approved by the Nevada Housing Division.             
  • The homebuyer must go through one of the approved and participating mortgage lenders. The lender will be the borrower’s point of contact throughout the process, working with the homebuyer to obtain a qualifying mortgage and registration for the DPA loan.
  • Residential Units only, new or existing, one-four units, detached or attached condos, townhomes, or manufactured homes.
  • Must be the borrower’s primary residence.
  • Property must be located in the State of Nevada
  • Meet all applicable DPA and Ginnie Mae (FHA, VA, USDA-RD), Fannie Mae and Freddie Mac underwriting guidelines.
HIP Programs
Conv Over 80% AMI
FICO Credit Score
640
Mortgage Rate
7.750%
Down Payment Assistance
w/3%
Second Mortgage
30-yr
Description

Eligible borrowers must qualify for and meet all requirements of the HIP DPA Program. Allowable first mortgage loans will be mortgages that are 30-year, fixed-rate loans from the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture-Rural Development (USDA-RD), Fannie Mae and Freddie Mac.

  • Income Limit: $140,000 based on borrower(s) qualified income.
  • Purchase Price: $766,550 but lenders must comply with all applicable loan agency limits.
  • Minimum Credit Score: 640 (680 for manufactured homes)
  • Maximum Debt Ratio: 50% with 640+ credit score.
  • Borrower(s) cannot own other property at the time of close. This includes Non-Purchasing Spouse, if applicable.    
  • Each borrower must complete a homebuyer education course before closing. The homebuyer education requirement may be met by taking a pre-purchase course from a list of providers approved by the Nevada Housing Division.             
  • The homebuyer must go through one of the approved and participating mortgage lenders. The lender will be the borrower’s point of contact throughout the process, working with the homebuyer to obtain a qualifying mortgage and registration for the DPA loan.
  • Residential Units only, new or existing, one-four units, detached or attached condos, townhomes, or manufactured homes.
  • Must be the borrower’s primary residence.
  • Property must be located in the State of Nevada
  • Meet all applicable DPA and Ginnie Mae (FHA, VA, USDA-RD), Fannie Mae and Freddie Mac underwriting guidelines.
HIP Programs
Conv Over 80% AMI
FICO Credit Score
640
Mortgage Rate
7.875%
Down Payment Assistance
w/5%
Second Mortgage
30-yr
Description

Eligible borrowers must qualify for and meet all requirements of the HIP DPA Program. Allowable first mortgage loans will be mortgages that are 30-year, fixed-rate loans from the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture-Rural Development (USDA-RD), Fannie Mae and Freddie Mac.

  • Income Limit: $140,000 based on borrower(s) qualified income.
  • Purchase Price: $766,550 but lenders must comply with all applicable loan agency limits.
  • Minimum Credit Score: 640 (680 for manufactured homes)
  • Maximum Debt Ratio: 50% with 640+ credit score.
  • Borrower(s) cannot own other property at the time of close. This includes Non-Purchasing Spouse, if applicable.    
  • Each borrower must complete a homebuyer education course before closing. The homebuyer education requirement may be met by taking a pre-purchase course from a list of providers approved by the Nevada Housing Division.             
  • The homebuyer must go through one of the approved and participating mortgage lenders. The lender will be the borrower’s point of contact throughout the process, working with the homebuyer to obtain a qualifying mortgage and registration for the DPA loan.
  • Residential Units only, new or existing, one-four units, detached or attached condos, townhomes, or manufactured homes.
  • Must be the borrower’s primary residence.
  • Property must be located in the State of Nevada
  • Meet all applicable DPA and Ginnie Mae (FHA, VA, USDA-RD), Fannie Mae and Freddie Mac underwriting guidelines.

Home First DPA Program (134 loans still available)

HIP Programs
FHA, VA & USDA
FICO Credit Score
640
Mortgage Rate
6.625%
Down Payment Assistance
$15,000
Second Mortgage
3-yr forgivable
Description

Home First DPA Program

  • You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
  • Maximum purchase price: Follow Agency Guidelines with a maximum of $570,000
  • Income Limits: 300% of Poverty Level (View the limits by clicking on this link)
  • Household income must be used in determining income
  • Cosigner's income does not count towards income limits
  • Minimum credit score 640 (680 for Manufactured Homes)
  • Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score (45% for Manufactured Homes)
  • At least one occupying borrower must be a resident of Nevada for a minimum of 6 months prior to reservation.
  • DPA will be structured as a one-time up-front, forgivable loan in the amount of $15,000 (cannot be used for closing costs). DPA will be in the form of a no interest, no payment, 3-year forgivable second mortgage. Loan will be forgiven at the end of three (3) years or December 31, 2026, whichever occurs first.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

HIP Programs
Conventional
FICO Credit Score
640
Mortgage Rate
6.625%
Down Payment Assistance
$15,000
Second Mortgage
3-yr forgivable
Description

Home First DPA Program

  • You must be a first-time homebuyer (could not have owned a primary residence in the last 3 years)
  • Maximum purchase price: Follow Agency Guidelines with a maximum of $570,000
  • Income Limits: 300% of poverty level or 80% of County AMI, whichever is less
  • Household income must be used in determining income
  • Cosigner's income does count towards program income limits (Fannie & Freddie requirement)
  • Minimum credit score 640 (680 for Manufactured Homes)
  • Maximum debt ratio: 50% (45% for Manufactured Homes) 
  • At least one occupying borrower must be a resident of Nevada for a minimum of 6 months prior to reservation.
  • DPA will be structured as a one-time up-front, forgivable loan in the amount of $15,000 (cannot be used for closing costs). DPA will be in the form of a no interest, no payment, 3-year forgivable second mortgage. Loan will be forgiven at the end of three (3) years or December 31, 2026, whichever occurs first.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

Conventional Loans – Fannie Mae & Freddie Mac 80% AMI or Less

(see income limits)

HIP Programs
Conventional - 0% DPA
FICO Credit Score
640
Mortgage Rate
7.000%
Down Payment Assistance
w/0%
Second Mortgage
N/A
Description

Highlights

  • Maximum purchase price $726,200
  • Maximum income limit per county (View the county limits by clicking on this link)
  • Non-purchasing spouse's income must be included when determining qualified income
  • Cosigner's income does count towards program income limits (Fannie & Freddie requirement)
  • Minimum credit score 640 (680 for manufactured homes)
  • Maximum debt ratio: 50% (45% for Manufactured Homes) 
  • Purchaser cannot own other property at the time of close
  • DPA is in the form of a no interest, no payment prorated 3-year forgivable note.

This information is meant to show program highlights. For underwriting criteria please see the Home Is Possible Administrative Guidelines.

*Please note the above rates are informational only and may change at any time.

Notices and Program Updates

October 11, 2019
October 04, 2019