City of Fernley – Military Home Buyer Programs
The Home is Possible for Heroes Program (HIP-P) developed by the Nevada Housing Division in the City of Fernley offers our active military (Army, Navy, Air Force, Marines, National Guard, Coast Guard) personnel to receive down payment help on a home purchase. This program allows qualifying military service members who live in within the City of Fernley or anywhere statewide to receive up to a 5% grant towards a home down payment and/or closing costs. No need to repay grant!
Benefits – City of Fernley Military Housing Down Payment Assistance
- Available to residents of the City of Fernley and also throughout the state of Nevada.
- Mortgage Credit Certificate (MCC) can be combined with this program.
- Low monthly mortgage rate with market fixed interest rate on 30-year loans.
- Program fees waived.
- The HIP-H program does not require this to be your first home purchase.
Requirements – City of Fernley Military Housing Down Payment Assistance
- Must be active military personnel, a veteran, surviving spouse, or National Guard member.
- Income is no more than $95,500.
- Desired homes purchase price is under $400,000. Take a look at the City of Fernley qualifying home listings.
- Your credit score is 640 or higher.
- You will occupy home purchased in home as a primary residence.
- Only Government issued loans – no conventional loans.
- You meet the minimum requirements for underwriting.
- Pay a one-time fee of $675.
- Attend the required home buyer course.
- As of February 1, 2016, manufactured housing loans will be available for government loans.
City of Fernley Home Buyer Programs