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DOWN PAYMENT ASSISTANCE
HIP For Teachers™
Down Payment Assistance
Home Is Possible For Teachers™
Teachers make it their life’s work to educate young minds. To show our appreciation, we've created Home Is Possible For Teachers. This home-buyer program is like extra credit for teachers who help make Nevada a great place to live.
This program is only available through June 30, 2020.
Key Benefits
✔ $7,500 in bonus money
✔ Usable for down payment and closing costs
✔ Forgivable after five years (if you stay in your home)
✔ Below-market fixed interest rate 30-year loan
✔ Statewide program
✔ No first-time homebuyer requirement
Requirements
✔ May not own property at the time of closing
✔ Must be a licensed full-time public school classroom teacher in Nevada
✔ Qualifying income below $98,500
✔ Home price below $510,400
✔ Minimum credit score of 660 for FHA
✔ Minimum credit score of 640 for VA, USDA
✔ Government insured loans only (no conventional loans)
✔ Teacher must live in home as primary residence
✔ Homebuyer education course required
✔ Must meet standard underwriting requirements
✔ Additional one-time fee of $755 on first mortgage
This down payment assistance program requires a home loan mortgage approval. Find out if you are approved by applying:
Home Loan Down Payment Assistance Programs:
For more information about mortgage related programs
Get in contact with our home loan mortgage lending experts
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