City of Sparks – First Time Home Buyer Programs
The Nevada Housing Division offers a down payment assistance program called Home is Possible (“HIP”). This program allows qualifying City of Sparks home buyers to receive up to 5% of the loan amount towards their down payment and closing costs. For example, with a $300,000 loan amount, this program would offer a grant of up to $15,000 to be used towards down payment and closing costs – with no repayment requirements!
Benefits – Home Is Possible for City of Sparks Down Payment Assistance
- HIP down payment assistance can be used anywhere in the City of Sparks and statewide.
- Receive up to 5% of the loan amount for down payment and/or closing costs.
- Grant does not need to be repaid.
- Competitive 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 within the City of Sparks that qualifies under the program requirements below.
Requirements – Home Is Possible for Sparks Down Payment Assistance
- You must occupy the home to be purchased in Sparks as a primary residence.
- Your income is below $95,500.
- Desired homes purchase price is under $400,000. See Sparks homes for sale – that qualify for down payment assistance.
- Your credit score is a minimum of 640.
- You meet the normal government or conventional requirements for underwriting.
- You attend a required home buyer course.
- Pay a one-time fee of $675.
Get Started! Complete the form below to see if you qualify for this program.
City of Sparks Home Buyer Programs