City of Fernley – First Time Home Buyer Programs
The Nevada Housing Division office in the City of Fernley offers down payment assistance with a program called Home is Possible (“HIP”). This program allows City of Fernley home buyers who qualify to receive up to 5% of the loan amount towards down payments or closing costs. For example, with a $250,000 loan amount, this program would offer a grant of up to $12,500 to be used towards down payment and closing costs – with no repayment required.
Benefits – Home Is Possible for the City of Fernley Down Payment Assistance
- HIP down payment assistance is available for the City of Fernley and also statewide.
- Receive up to 5% of the loan total for down payment or closing costs.
- Attractive 30 year interest rates for conventional and government loan types (FHA, VA)
- HIP grants can be combined with Federal Income Tax Rebates through Mortgage Credit Certificate (MCC) Program.
- This program is for anyone buying a home in the City of Fernley that qualifies under the program requirements as listed below.
- Grant do not have to be repaid.
Requirements – Home Is Possible for the City of Fernley Down Payment Assistance
- You must occupy the home to be purchased the City of Fernley as a primary residence.
- Your income is below $95,500.
- Desired homes purchase price is under $400,000. Check out all qualifying City of Fernley home listings.
- Your credit score is a minimum of 640.
- You meet government or conventional requirements for underwriting.
- You attend a required home buyer course.
- Pay the one-time fee of $675.
Get Started! Complete the form below to see if you qualify for this program.
City of Fernley Home Buyer Programs