Home is Possible for Teachers! Hello Nevada teachers, we are writing to you directly because we have news that should be very important to you. Have you heard of the Nevada Housing Divisions Home is Possible for Teachers program? This homebuyer program is like extra credit for teachers who help make Nevada a great place to live.
This program is only available until December 31, 2019, so you need to get started now!
Home is Possible for Teachers Key Benefits:
- $7,500 in bonus money
- Usable for the 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
- Can be combined with the Mortgage Credit Certificate (MCC) program with program fees discounted
- The borrower may not own property at the time of closing
- Must be a licensed full-time K-12 public school classroom teacher in Nevada
- Qualifying income below $98,500
- Home price below $484,350
- A minimum credit score of 660 for FHA / 640 for VA, USDA
- Government-insured loans only (no conventional loans – you have to use an FHA or VA loan)
- The teacher must live in the home as their primary residence
- Homebuyer education course required
- Must meet standard underwriting requirements
- One-time fee of $675 on the first mortgage
For more information on the Home is Possible for Teachers program and to get started we recommend you call our Preferred Partners: Residential Lender. They are experts on the Home is Possible program and love to help our Nevada Teachers get the best possible rates and terms. For more information on homes for sale in Las Vegas, please contact our Preferred Partners: Residential Realtor and they will help you find your dream home in Las Vegas, Henderson, North Las Vegas, and Boulder City.
Thank you for reading our post, “Home is Possible for Teachers.” For more Las Vegas home Buyer tips, market news, information on Las Vegas homes for sale, buying a home in Las Vegas, or general real estate information please visit our website www.lasvegasrealestate.com.