City of Reno – Military Home Buyer Programs
The Nevada Housing Division in the City of Reno offers the Home is Possible for Heroes Program (HIP-P) for active military (Army, Navy, Air Force, Marines, National Guard, Coast Guard) personnel to help those who serve our country to receive down payment help on a home purchase. This program allows qualifying military service members who live in the City of Reno and the entire state to receive up to a 5% grant towards a home down payment and/or closing cost expenses. This grant does not require repayment!
Benefits – City of Reno Military Housing Down Payment Assistance
- Program available to all City of Reno residents and also available to residents throughout the state of Nevada.
- Low monthly mortgage rate due to below market fixed interest rate for 30-year loan.
- Program available statewide.
- Can combine with Mortgage Credit Certificate (MCC).
- Program fees waived.
- No requirement to be a first time home buyer.
Requirements – City of Reno Military Housing Down Payment Assistance
- You must be active military personnel, a veteran, surviving spouse, or National Guard member.
- Your income is not more than $95,500.
- Your credit score is a minimum of 640.
- Desired homes purchase price is under $400,000. View all City Of Reno qualifying home listings for down payment assistance.
- You must occupy home purchased in Reno home as a primary residence.
- Only Government issued loans – no conventional loans.
- You meet the minimum requirements for underwriting.
- Attend a required home buyer course.
- Pay a one-time fee of $675.
- As of February 1, 2016, manufactured housing loans will be available for government loans.
City of Reno Home Buyer Programs