Welcome! We’re pleased to share this list of down payment assistance programs available to qualified homebuyers throughout  Nevada. Click the links below to review the eligibility requirements and other important details of each program.

  • City of Henderson, Neighborhood Services Division: The City of Henderson’s First Time Homebuyer Program was designed to assist low-income families in the purchase of a home.  The City of Henderson will assist with an interest-free deferred loan not to exceed 6% of the purchase price or $10,000, whichever is less, for down payment and closing costs.  Additionally, the program will loan up to $35,000 for home repairs.
  • Federal Home Loan Bank of San Francisco WISH / IDEA Programs: Each year the bank applies for funds to offer WISH and IDEA grants to low and moderate income individuals in Arizona and Nevada who are working towards home ownership. Both programs offer a 3-to-1 contribution match. In 2016, the Bank was awarded $4,000,000 in down payment assistance.
  • Home is Possible: Established by the state of Nevada in 2014, Home is Possible helps homebuyers get up to 5% of the home loan value in the form of a grant which doesn’t have to be paid back.  This bonus money can help cover down payment and closing costs.  www.HomeIsPossibleNV.org
  • Rural Nevada Development Corporation Down Payment Assistance: This program assists low income, first time homebuyers in rural Nevada with up to $10,000 or $15,000 (depending on income and size of household) for down payment on residential properties that meet HUD Housing Quality Standards. In addition, closing costs are also eligible for assistance and may include loan origination fees, appraisals, credit report fees, title charges, escrow fees, document preparation, reserves, and inspection costs.

City of Henderson, Neighborhood Services Division

First Time Home Buyer Program (FTB)

Program Overview

The City of Henderson’s First Time Homebuyer Program was designed to assist low-income families in the purchase of a home.  The City of Henderson will assist with an interest-free deferred loan not to exceed 6% of the purchase price or $10,000, whichever is less, for down payment and closing costs.  Additionally, the program will loan up to $35,000 for home repairs.

Borrower Eligibility

To be eligible for assistance through this program, applicants must have the following, but not limited to:

  • Applicants must have lived or worked in Henderson for one (1) year prior to applying.
  • Applicants must not have owned a home in the last three (3) years.
  • An 8-hour HUD-approved Homebuyer Education Program must be attended.
  • Applicant must make a minimum investment of $1500 of their own funds toward the purchase of the home.
  • Income must be at or below 80% of the annual median income.
  • Proposed properties must be within City of Henderson.
  • No interest charges or monthly payments.
  • Loan must be paid back.

Property Eligibility

  • Existing owner-occupied or vacant, single family detached or attached units only, no exceptions. The dwelling unit purchased must be real property.  Rental units must have been vacant for ninety (90) days.
  • Must be within Henderson City Limits. If located in the Henderson Redevelopment Area, only those properties designated as Low Density Residential in the land use plan are eligible under this program.
  • Must not be located within a floodplain area.
  • If rehabilitation is necessary, total rehabilitation costs must not exceed $35,000.
  • Maximum purchase price of the property must be at or below the HUD median area sales price of $225,552.00 (including down payment, closing, and rehabilitation costs). 

Financing Requirements

Borrower does need to provide pre-qualification for a mortgage from an approved lender during the application process. 

Maximum Loan Amount

The maximum assistance available is $45,000 to include down payment/closing cost assistance (6% of the purchase price or $10,000, whichever is less) and up to $35,000 in rehabilitation.

Maximum purchase price of the property must be at or below the HUD median area sales price of $225,552.00 (including down payment, closing, and rehabilitation costs). 

Loan Terms

  • The maximum deferred loan amount shall not exceed $45,000 to include down payment assistance, closing costs, and rehabilitation.
  • Loan will be secured by an interest-free loan agreement executed by the applicant and the City and secured by a Deed of Trust to real property, to the benefit of the City of Henderson.
  • Loan will bear no interest.
  • There are no monthly payments on the City loan.
  • Loan will not be forgiven.
  • Applicant must carry Hazard Insurance to adequately cover all loans or mortgages on the property, including the City of Henderson loan, for the duration of the loan.
  • Applicant acknowledges that the approval of the City’s First Time Homebuyer Deferred Payment Loan is contingent upon the applicant applying for and receiving approval for a participating lender’s mortgage loan.
  • Applicant acknowledges that the following provisions will apply:

Deed of Trust and Loan Agreement Provisions:  The City’s First Time Homebuyer Program requires that units assisted with HUD HOME funds remain affordable to low-income purchasers for the stated term of compliance and until the unit is sold and the HOME subsidy is recaptured. In order to ensure compliance, the following five deed restrictions will be incorporated into each project Deed of Trust and Loan Agreement:

  1. The term of compliance is a minimum of 15 years for existing properties, 20 years for newly constructed properties.
  2. HOME funds must be recaptured upon sale of the property.
  3. The property must be used as the purchaser’s principal residence.
  4. No temporary subleases are allowed.
  5. In the event of foreclosure, deed restrictions will be canceled.

Other Resale and Recapture Information:  Under the City of Henderson First Time Homebuyer Program, the City will permit sale of the First Time Homebuyer property within the term of compliance with up to full recapture of the First Time Homebuyer Deferred Payment Loan.  The recaptured funds will be utilized to carry out additional HOME-eligible activities.

If net proceeds, sales price minus loan repayment and closing costs, are insufficient to recapture the full HOME investment plus enable the homeowner to recover the amount of the homeowner’s down payment, principal payments, and any capital improvement investment, the City may allow the HOME investment amount that must be recaptured to be reduced.  The HOME investment amount may be reduced pro rata based on the time the homeowner has owned and occupied the home measured against the required affordability period; except that the City’s recapture provisions may not allow the homeowner to recover more than the amount of homeowner’s down payment, principal payments, and any capital improvement investment.

The City will subordinate its position on the loan only under the following circumstances:

  • Refinancing to lower the interest rate and monthly payment on the first mortgage.
  • To allow the borrower to secure a loan to cover emergency, non-insured property damage to the home.

The City will not subordinate its position to loans for other credit debt or loans which do not reflect the criteria listed above.

Loan Documents

Not applicable. 

Owner Occupancy Requirements

The applicant agrees that the principal amount of the note shall become immediately due and payable:

  • If at any time, the home is used other than as the applicant’s primary housing unit, including but not limited to the applicant’s selling, renting, abandoning, donating, or giving the housing unit to another.
  • Upon substantial destruction of the improvements on said property by any means.
  • Upon the applicant’s death, unless there are two or more applicants; then loan repayment shall be upon the death of the last surviving applicant, excluding an eligible heir to or beneficiary of the property, who meets the current eligibility guidelines.
  • Upon the divorce of the applicants unless one of the applicants is entitled by the decree of divorce to continue residing in the primary housing unit. 
  • The applicant agrees that the First Time Homebuyer Deferred Payment Loan will be used for down payment assistance, closing costs, and rehabilitation to accomplish the objective of homeownership and to complete rehabilitation to meet HUD Housing Quality Standards (HQS) when the prospective applicant becomes the homeowner of a selected property.

Application Process

Borrower(s) must contact Neighborhood Services for a prescreening eligibility interview.  Staff will then schedule an application appointment.  Once an appointment is scheduled, borrower(s) will be provided additional information regarding documentation they will be required to provide (list below).

Borrower(s) must bring the following during their application appointment, but not limited to:

  • Nevada Driver’s License for all people on Title
  • Applicant(s) Social Security Card
  • Names and Social Security Numbers of ALL household members
  • Name Change Documents you may have
  • Copy of divorce decree (if applicable)
  • Residence addresses for last two (2) years
  • Name and addresses of employers for last two (2) years
  • Lease or rental agreement of current residence
  • Homebuyer education class certificate
  • You must have a minimum credit score of 640
  • Any collection matters: letter on company letterhead showing they are paid in full or resolved in full from company filing collection
  • Profit and Loss Statement for most immediate past six (6) months of owner of business
  • Or any current income for any household members receiving an income
  • Copy of award letter for Social Security, retirement benefits, and any other such benefits
  • Recent paystubs for two (2) months’ worth (all members who are employed that will be living in the home)
  • W-2s and tax returns for the past two (2) years for those going to be on the Loan
  • Name of creditors, account numbers and approximate balances
  • Two (2) months of bank statements (all accounts for those that will be on Title/Loan)
  • Information on assets (CD, IRA’s, 401K, etc)
  • Lender’s Pre-Approval Letter

Review and Processing

Borrower(s) application will go through a review/process period once we receive a completed application.  Housing staff will review the application to ensure borrower(s) meet program requirements and if any additional supporting documentation is needed.  Once approved, an approval letter will be mailed out to the borrower(s).  This process can take up to a couple weeks.  Borrower(s) and their agent can start working with Housing staff to inform us when a home they would like to put an offer on needs an inspection.   Housing staff can work directly with the borrower(s), realtor, and their lender to ensure all requirements are met and in a timely process. 

Program Contact (s)

City of Henderson, Neighborhood Services Division

Participating Lenders

Homebuyer Education Counseling Agencies


Federal Home Loan Bank of San Francisco WISH / IDEA Programs

Program Overview

Western Alliance Bank is a “member bank” of the Federal Home Loan Bank of San Francisco. Each year the bank applies for funds to offer WISH and IDEA grants to low and moderate income individuals in Arizona and Nevada who are working towards home ownership. Both programs offer a 3-to-1 contribution match. In 2016, the Bank was awarded $4,000,000 in down payment assistance.

Borrower Eligibility

To be eligible for WISH funds, the homebuyer must meet the following eligibility criteria:

  • Homebuyer has been enrolled by the participating member in the WISH or IDEA Program.
  • Homebuyer has successfully completed a homebuyer counseling program.
  • Homebuyer is a first-time homebuyer. First-Time Homebuyer Definition: An individual who has never owned a home before. An individual who has not owned a home for at least three years is also considered a first-time homebuyer. For couples, if one spouse is a homeowner but the other spouse has never owned before, then, according to the FHA, both spouses are considered first-time homebuyers.
  • At the time of enrollment in the WISH or IDEA Program, homebuyer meets income eligibility guidelines as published by the Bank, and is at or below 80% of the HUD area median income.
  • Homebuyer must open escrow on a home purchase transaction within one year of enrollment in the WISH Program or within 5 years of enrollment in the IDEA program.
  • IDEA Program Members must participate in an IDA savings program for at least 10 consecutive months.
  • Homebuyer contribution may include sweat equity.
  • WISH funds may only be used toward down-payment or reasonable and customary closing costs in conjunction with the purchase of housing to be used as the primary residence of the homebuyer. WISH funds may not be used by the member or the homebuyer in conjunction with projects or units receiving other subsidies from the Bank through its competitive AHP or other set-aside programs.
  • Borrower will receive a 3-to-1 match for the grant amount. The borrower must contribute an amount equal to one-third of the grant amount requested. Example, if the borrower is receiving a grant of $12,000, they will provide at least $4000 which can be in the form of a deposit, cash to close or items paid outside of closing.

Property Eligibility 

Owner occupied, single-family home or manufactured home.

Financing Requirements

The bank has no restrictions on lender used for the first mortgage. Additional down payment assistance programs are also acceptable and the bank does not have a preference on position (i.e. second or third position is acceptable). 

Maximum Loan Amount

Borrower income to housing ratio must be lower than 35%. Maximum grant amount is $15,000. 

Loan Terms

This program provides grants only and there is no repayment required if the individual or family remains in the house for five years from the date of closing. The grant is forgiven after that 5-year term and the lien is released on the property. If the individual or family sells the home, they are responsible to pay the pro-rated amount remaining before the lien is released. No repayment is due on a foreclosure. If the individual refinances the property within the 5-year period, the bank will provide a subordination document for the new lender.

Loan Documents

The borrower will sign a Deed of Trust (and Rider) as well as a Promissory Note. Sample Note and Rider can be found here: http://www.fhlbsf.com/community/grant/wish.aspx#5

Owner Occupancy Requirements

The property must be owner occupied. Enrollment is based on the number of household members. 

Application Process

There is an enrollment and income qualification process done through area housing counselors that the bank works with to facilitate the program. There are no fees associated with the WISH or IDEA program. Housing counselors may charge a fee for their counseling services but may not charge fees to facilitate the WISH or IDEA program. Enrollment documents may be found here: http://www.fhlbsf.com/community/grant/wish.aspx#5

Review and Processing

  • The WISH Participant must submit an enrollment package with a participating non-profit organization who offers home ownership counseling. Enrollment in the program does NOT guarantee receipt of WISH or IDEA funds.
  • The organization then submits the package to the Bank for review and approval. The turnaround time for approval is approximately 10 to 14 days provided that all requested documentation is provided.
  • The bank will need to review the Closing Disclosure and the 1008 prior to sending docs. The Closing Disclosure must include the grant and it should be stated on the document as “FHLB WISH Grant” (not Western Alliance Bank). The borrower contribution on the Closing Disclosure must TOTAL at least 1/3 of the WISH grant amount. The borrower must NOT receive cash back as part of the transaction.

Once approved, the Bank will provide documents (Deed and Rider, Promissory Note) back to the organization and the title company for the participant’s signature.

  • The Bank will provide the grant in the form of a wire to the title company. Within two weeks, the Bank must receive the following documents back:
    • Recorded Deed & Rider
    • Original signed Promissory Note
    • FINAL Closing Disclosure or FINAL Settlement Statement
    • Copies of items paid by borrower (must equal at least 1/3 of the grant)

Program Contact (s)

Pamela Gorder

  • (602) 629-1720
  • pgorder@westernalliancebank.com

Enrico Granillo

  • (602) 629-1715
  • egranillo@westernalliancebank.com

Participating Lenders

The bank has no restrictions on lender used for the first mortgage.

Homebuyer Education Counseling Agencies

  • AZ            Community Housing Resources of Arizona
  • AZ            CPLC – Phoenix
  • AZ            Desert Mission Rescue
  • AZ            Family Housing Resources
  • AZ            Habitat Central AZ
  • AZ            Habitat Tucson
  • AZ            Housing Services of Northern Arizona
  • AZ            International Rescue Committee
  • AZ            New Leaf / MesaCAN
  • AZ            Newtown
  • AZ            Primavera
  • AZ            TRELLIS
  • NV           CPLC – Las Vegas, NV
  • NV           Community Services of Nevada
  • NV           Financial Guidance Center
  • NV           Home Today
  • NV           Nevada Partners

Home is Possible

Program Overview

Established by the state of Nevada in 2014, Home is Possible helps homebuyers get up to 5% of the home loan value in the form of a grant which doesn’t have to be paid back.  This bonus money can help cover down payment and closing costs.  www.HomeIsPossibleNV.org

Borrower Eligibility 

The qualifying household income must be less than $98,500 to be eligible for assistance from the Home is Possible program and the homebuyer must live in the home as their primary residence.  Additionally, there is a requirement for homeownership education prior to closing.   The maximum debt-to-income ratio is 45% and the minimum credit score is 640. 

Property Eligibility 

Only residential units can be financed with the Home is Possible program.  The units can be new or existing, one-four units, detached or attached, condos, townhomes and manufactured homes (must qualify as real property).  Land associated with the residential structure must not exceed the size required to maintain basic livability.   The program is available statewide with no geographic restrictions. 

Financing Requirements

Borrowers must use one of the over 85 Home is Possible approved mortgage companies.  Here is a link to find a lender: http://www.homeispossiblenv.org/find-lender-realtor/find-lender.php

 Maximum Loan Amount

The maximum home price is $400,000.  Borrowers are able to use FHA, VA, USDA-Rural Development and Conventional loans and must follow agency rules regarding loan limits. 

Loan Terms

Grant assistance is provided by a Home is Possible 30 year fixed rate mortgage.  The interest rates vary by the level of the grant assistance and change with market conditions.  Lenders are provided a daily rate sheet of mortgage interest rates.

Loan Documents

No special loan documents are required for the Home is Possible program.  Click on this link to for the loan program summary of key benefits and requirements.  http://www.homeispossiblenv.org/program/home-possible-program

Owner Occupancy Requirements

Borrowers must occupy the property within 60 days of closing.

Application Process

No separate application from the regular mortgage application is required for the Home is Possible program.  The borrower must sign a gift letter which includes the borrower’s name, property address and the amount of the assistance.  This letter is provided by the lender and must be signed prior to closing.   There are one-time fees of $675 associated with the program and these fees are paid at closing.

Review and Processing

Approved lenders take care of the loan process and grant funding from the initial mortgage application to loan closing.  Using the Home is Possible program will not slow down the closing process.  Lenders underwrite and are responsible for credit decisions of the loans in the program. 

Program Contact (s)

Dwight Pace, Homebuyer Programs Supervisor

Nnika Cromwell, Homebuyer Program Specialist

Josie Hatem, Homebuyer Program Specialist

Participating Lenders

Participating lenders can be found at the Nevada Housing Division website via this link: http://www.homeispossiblenv.org/find-lender-realtor/find-lender.php 

Homebuyer Education Counseling Agencies

All buyers (any person on the note/warranty Deed) must attend an approved homebuyer education course. All borrowers are required to attend –first-time buyers, repeat buyer. CoSignors are NOT required to attend.

Approved courses are:

  1. Financial Guidance Center – www.financialguidancecenter.org
  2. Attendance at a Nevada Housing Division-sponsored homebuyer seminar – www.homeispossiblenv.org
  3. Women’s Development Center – www.wdclv.org
  4. Nevada Rural Housing Authority – http://nvrural.org/homebuyer-services/prospective-homebuyer/homebuyer-education
  5. Housing for Nevada – www.housingfornevada.org
  6. Community Services of NV – www.csnv.org
  7. Finally Home – www.finallyhomecourse.com
  8. Neighborhood Housing Services Southern Nevada – (702) 649-0998
  9. Chicanos por La Causa CPLC – (702) 207-1614
  10. Nevada Partners – (702) 924-2100
  11. Additional HUD-approved agencies – www.HUD.gov
  12. MGIC – https://www.mgic.com/lender-services/homebuyer-education.html
  13. eHomeAmerica (local agencies are approved online education providers) –  http://www.ehomeamerica.org

Rural Nevada Development Corporation Down Payment Assistance

Program Overview

This program assists low income, first time homebuyers in rural Nevada with up to $10,000 or $15,000 (depending on income and size of household) for down payment on residential properties that meet HUD Housing Quality Standards. In addition, closing costs are also eligible for assistance and may include loan origination fees, appraisals, credit report fees, title charges, escrow fees, document preparation, reserves, and inspection costs. Prepaid items such as insurance premiums and yearly taxes are not eligible. These funds are deferred loans secured by a deed of trust and down payment agreement; they do not accrue interest or require monthly payments. These funds are not forgiven after a certain period of time; rather the lien will stay on the property until the buyer decides to sell the home. At that time, the entire loan amount will be paid back. Income limits vary depending on which county the buyer is purchasing the home in, as well as the size of the household. Funding is available on a first come first serve basis.

Borrower Eligibility

To be eligible through this program, applicants must be first-time homebuyers. Income eligibility varies depending on which county the home is being purchased is, along with the size of the household. The income limits for the State of Nevada can be found at: https://www.hudexchange.info/resource/reportmanagement/published/HOME_IncomeLmts_State_NV_2016.pdf

Gross income is used to determine income eligibility. 

Property Eligibility

The home must meet HUD Housing Quality Standards. The seller will be required to sign a form certifying that the property being sold has not been rented in the last six months. If there have been renters and they are not purchasing the home, RNDC cannot fund the project. The home must also be located within an eligible county. These include Humboldt, Pershing, Elko, White Pine, Nye, Esmeralda, Lander, Lincoln, Lyon, Churchill, Douglas, Eureka, Story, and Mineral County. Clark County and Washoe County are not eligible for RNDC’s Down Payment Assistance Program.

Financing Requirements

The borrower must be pre-qualified for a mortgage loan and provide a certificate or letter of eligibility with exact mortgage loan amount prior to release of funding. The application will not be processed without this letter.

Maximum Loan Amount

The maximum deferred loan amount will be determined by applicant’s gross annual income, plus eligible closing costs, and according to the amount of funding available at the time the applicant has been approved.

Loan Terms

The loan is secured by an interest free loan agreement and a Deed of Trust to the benefit of the State of Nevada Housing Division. The deferred loan bears no interest and is not forgiven. Eligible closing costs include loan origination fees, appraisals, credit report fees, title charges, escrow fees, document preparation, reserves, and inspection costs. Prepaid items such as insurance premiums and yearly taxes are not eligible.

If the buyer wishes to make a subordination request, the file must meet the General Subordination Requirements. There must be a benefit to the borrower (lower rate, lower payment, shortened term, risk reduction, i.e., from an interest only or negative amortization to a fixed product). The lender must outline the benefits to borrower in their request. The Housing Division will not subordinate to an Option ARM 1st Mortgage, a Reverse Mortgage or an Interest Only Mortgage. There can be no cash back to borrower. The borrower must be current on 1st and 2nd mortgages.

When sending a subordination request, the lender must include a copy of the Uniform Residential Appraisal Report or AVM, a copy of the Loan Application showing new mortgage amount, a copy of the Commitment Letter or Loan Approval. A copy of the Preliminary Title Search must also be included, along with a copy of the HUD-1 or Estimated Settlement Statement (GFE), and an overnight pre-paid mailing label or FedEx or UPS account number.

Subordination requests must be sent to the Housing Division.

Loan Documents

RNDC will draw up the Deed of Trust and Down Payment Agreement to secure the funds.

Owner Occupancy Requirements

Applicants must carry Hazard Insurance to adequately cover all existing loans or mortgages on the property, including the deferred loan, for the duration of the loan. The Federal Department of Housing and Urban Development (HUD) and/or RNDC shall have the right to inspect all housing properties that will be financed with the DPA Program funds. RNDC will inform the applicant of any non-compliance with the Housing Quality Standards required by HUD.

Application Process                                                                                                               

Applications may be mailed to interested homebuyers from RNDC, or downloaded by going to http://www.rndcnv.org/pdf/DPAApplication.pdf

The application must be completed in its entirety; all pages requesting signatures must be signed and dated before returning the application to RNDC. In addition, applicants must provide copies of the following supporting documents:

  • Birth Certificates for all individuals living within the household
  • Social Security Cards for all individuals living within the household
  • A legible copy of the applicant’s Driver’s License
  • Three most recent paystubs for those in the household who are 18 or older and employed, and/or a current annual benefit statement, along with any other income being received. If someone in the household who is over 18 and does not have any income, please provide a short written statement of who and why.
  • Most recent income tax return and all applicable schedules, or a signed statement saying you are not required to file
  • Proof of residency in Nevada for six months
  • Print out of bank statements covering the last three months
  • Lender Pre-Qualification letter

There is no application fee for this program.

Review and Processing

Once we have received the completed application, along with all required documentation, we will calculate income and determine the amount funding we are able to provide for down payment. This may be done within the same day as the application was received if all documentation is provided with it. Once the application has been approved, the applicant will receive an approval letter stating the amount of funding that will be provided for the down payment.

If there is missing or outdated information, we will send a letter stating what still must be sent in order to determine eligibility. Applications along with the required documentation will remain current for 6 months. If after 6 months there has been no activity, the application will be filed as “inactive” and the applicant must reapply again, if they are still interested in using the program.

The exact dollar amount of the closing costs we are able to fund will not be determined until a copy of the Good Faith Estimate or Closing Costs Worksheet has been received.

Funds cannot be requested until RNDC has confirmation of the mortgage loan, good faith estimate, appraisal, preliminary title report, offer and acceptance and an inspection of the property. We require applicants be pre-qualified with a lending institution before the application is processed.

Applicants are required to find their own home, make an offer, and have the financing available prior to any release of DPA funds from RNDC.

Program Contact

Courtney Snodgrass, Housing Programs Clerk

Participating Lenders

No list available.

Homebuyer Education Counseling Agencies

Applicants will be required to complete an 8 hour HUD Approved online Homebuyer’s Education Course of their choice, and provide a copy of the Certificate of Completion to RNDC.