Home Is Possible Program ( HIPP)
The Home Is Possible Grant is the most popular Downpayment Assistant Program in Las Vegas. The program was established by the state of Nevada in 2014.
The Home Is Possible Grant helps First Time Home Buyers get up to 5% of the home loan value. Depending on the type of loan (FHA, VA, CONVENTIONAL) you’ll receive anywhere from 3% to 5% of the purchase price that can be used towards down payment or closing costs.
Key Benefits:
- Get up to 5% of the loan value
- Used for down payment and closing costs
- Financing available for manufactured homes
- attractive 30 year interest rate
Program Requirements:
- Borrower must not own a property at the time of closing.
- Qualifying income must be below $98,500.
- Home price below $548,250.
- Must live in the home as primary residence.
- Homebuyer education course required.
- Must meet standard underwriting requirements.
- One-Time Fee of $755 (paid at closing).
Qualifying for the Home is Possible Grant is very easy. As long as you meet the program requirements above, you have nothing to worry about.
If you have any further questions about the First Time Home Buyer Program, also called Home is Possible, feel free to contact me.