City of Fallon – Military Home Buyer Programs
Nevada Housing Divisions Home is Possible for Heroes Program (HIP-P) is offered in the City of Fallon . This program offers 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 within the City of Fallon or anywhere statewide to receive up to a 5% grant towards a home down payment and/or closing costs. No need to repay this any portion of this grant!
Benefits – City of Fallon Military Housing Down Payment Assistance
- Available to residents of the City of Fallon and also throughout the state of Nevada.
- Not required to be your first home purchase.
- Mortgage Credit Certificate (MCC) can be combined with this HIP-H program.
- Low monthly mortgage rate with market fixed interest rate on 30-year loans.
- Program fees waived for all veterans.
Requirements – City of Fallon 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.
- Your minimum credit score is 640 or higher.
- Desired homes purchase price is under $400,000. Take a look at the City of Fallon qualifying home listings.
- As of February 1, 2016, manufactured housing loans will be available for government loans.
- Only for Government issued loans – no conventional loans.
- Home purchased must be your primary residence.
- Attend required home buyer class.
- You must meet the minimum requirements for underwriting.
- Pay a one-time fee of $675.
City of Fallon Home Buyer Programs