Down Payment Assistance Programs - Las Vegas
Learn more about the different down payment assistance programs available in Las Vegas.
CHENOA™
CULINARY HOUSING PROGRAM™
HOME AT LAST™
HOME IS POSSIBLE™
Key Benefits:
- Get up to 5% of the loan value
- Usable for down payment and closing costs
- Forgivable after three years (if you stay in your home)
- Attractive 30-year interest rate
- No first-time homebuyer requirement
- Financing available for manufactured homes
- Statewide program
Program Requirements:
- Borrower may not own property at the time of closing
- For government loans (FHA, USDA, VA) — qualifying income must be below $98,500
- For conventional loans (HFA-preferred) — please visit our income limits by county page
- Home price below $484,350
- Minimum credit score of 640...
According to the latest Market from the Greater Las Vegas Association of Realtors (GLVAR), local home prices inched back up to the $300,000 mark in March (2019) while fewer properties changed hands and more homes were on the market than a year ago. Here are some other positives for homebuyers looking to purchase a home in Las Vegas this Spring:
Low Interest Rates
After nearing 5% in 2018...rates are now 4.41% on a 30-year mortgage.
Your Tax Refund may be the Key to Homeownership
Tax refunds are often thought of as 'extra money' that can be used toward larger goals. For anyone looking to buy a home in Spring 2019, this can be a great jump toward a downpayment.
More Inventory
This Spring more homes are coming on the market. More listings means more choices for homebuyers! Our Southern Nevada inventory is up sharply from one year ago, but is still less than a three-month supply homes available for sale.
Get settled in time for Summer!
Don't miss out on hosting friends and family in your new home!
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The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates and home prices!
The best way to show what’s really going on in today’s real estate market is to go straight to the data!
Interest Rates:
“The real estate market is thawing in response to the sustained decline in mortgage rates and rebound in consumer confidence – two of the most important drivers of home sales. Rising sales demand coupled with more inventory than previous spring seasons suggests that the housing market is in the early stages of regaining momentum.” – Sam Khater, Chief Economist at Freddie Mac
Bottom Line
This graph indicates good news for the spring housing market! Interest rates are low! If you are considering buying a home or selling your house, let’s get together to chat about our market!
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