Nevada homebuyer assistance: questions to ask

Start with the official program

The Nevada Housing Division’s Home Is Possible website lists homebuyer programs and education resources. Program benefits and eligibility differ. Start with the official information, then ask a participating lender to confirm what fits your circumstances. Explore Nevada Housing Division programs.

Worker Advantage: assistance, with repayment

The official Worker Advantage page describes $20,000 in assistance as a no-interest, no-payment, non-forgivable 30-year second mortgage. It is not a grant. Ask when repayment becomes due and how the second mortgage affects a future sale or refinance. Worker Advantage terms and eligibility.

Requirements include qualifying essential-worker employment, at least six months of Nevada residency, homebuyer education, and income, credit, property, and underwriting limits. A household moving into Nevada should not assume immediate eligibility. Confirm current requirements and funding with the participating lender.

Ask for a written comparison

• What is the mortgage rate with and without assistance?
• Is the assistance a grant, forgivable loan, or repayable loan?
• What triggers repayment?
• What are the full closing costs and monthly payment?
• Are other assistance programs compatible?
• Are funds available for my application?

Compare the complete loan terms, not only the upfront benefit. Do not assume assistance can be stacked or that every borrower qualifies.