Home at Last, Nevada Rural Housing Authority for Las Vegas Home Buyers Down Payment Assistance GrantThursday, April 14th, 2016
If you are in the market to buy a home and are a first time homebuyer. A new homebuyer is considered not having a mortgage for 3 years. The Home at last is a wonderful program for down payment assistance. It is a grant, here are a new of the qualifications for the program:
$95,500 maximum income limit for qualifying borrower, 640 minimum credit score, 45% maximum debt-to-income ratio. Manual under writing okay, grant options: FHA and VA, 2% to 5% , USDA 2% to 4%, Fannie Mae HFA Preferred Conventional .
Mortgage tax Credit program:
Homebuyers can take the annual tax credit or increase W-4 exemptions to increase take home pay. Average savings is $2000 a year divided by 12 equals $166.67 a month in extra income. Available for the first time homebuyers and qualified veterans. Fees: $995 (no fee for veterans, active duty and National Guard Service personnel) $300 optional lender application fee. Income and purchase price limits vary by county and household size.
This is a wonderful grant program that can be used with other programs for down payments and closing costs. Please call me if you’re in the market to purchase. Thank you for checking in with me and my blog. I’ll try to keep everyone updated as much as I can.
Enjoy your day, Penny