Hope Brings You Home is Southern Nevada's newest down payment assistance program that began on May 1, 2018.  With this program, you can get up to $20,000 down payment assistance on a home up to $400,000.  Buying a home in Las Vegas just got a whole lot easier!

*UPDATE:  11 Feb 2018- Hope Brings You Home is back!  Click here for the most up to date Hope Brings You Home information!*

*UPDATE:  21 July 2018- The funds for this program are depleted.  Please reach out to one the loan officers on the bottom of this post to review other Down Payment Assistance and Home is Possible loan program options with you.  Thank you!*

What you'll learn:

1. What is the Hope Brings You Home (HBYH) Program
2. How it Works
3. Who Qualifies
4. What's Required
5. Hope Brings You Home Zip Codes
6. How to Get Started

What is the Hope Brings You Home (HBYH) Program?

The Nevada Hardest Hit Fund was awarded $36,000,000 to provide up to $20,000 to help qualified homebuyers with their down payment and/ or buyer closing costs to buy a primary residence in 27 Zip codes throughout Clark County.  The Hope Brings You Home zip codes span: Las Vegas, North Las Vegas, Henderson, and Pahrump.  (The full list is below and linked to home search to help you get started) 

How It Works 

The Hope Brings You Home Nevada program works by providing down payment assistance (DPA) equal to 10% of the purchase price up to a maximum of $20,000 for down payment and/ or buyer closing costs for a primary residence in any of the 27 approved zip codes throughout Southern, NV. 

The $20,000 DPA is forgiven at a rate of 1/36 each month you live in the home you buy.  Let's make it even easier to understand... Live in the home you buy with the Nevada Hope Brings You Home program for 3 years or more and the $20,000 down payment assistance is forgiven!  Don't worry the DPA from this program is a NO interest, NO payment forgivable note.

Who Qualifies

Anyone that meets basic eligibility and buys a primary home in the 27 approved zip codes listed below.  This is only for existing homes and doesn't apply for any new construction homes.  If you're active duty or a veteran you can use your VA loan in conjunction with this program. 

Hope Brings You Home NV really is for a limited time only.  So you know this isn't some crappy sales pitch, let's break down the math together:

MATH:  $36,000,000 / $20,000 = 1,800

So if 1,800 buyers receive the full $20,000 for down payment assistance/ buyer closing costs then the full $36,000,000 is tapped out!  Result = Only 1,800 home buyers benefited.  Will one of them be you? 

Thus concluding the Hope Brings You Home program.  If this program is for you, please don't wait.  It'll be gone soon and may never come back.

If you own a home and want to use this program to buy your new home, then you'll need to sell and close on your existing home prior to closing on your new home.  For more about how this works, contact me. 

What's Required

1.  Qualifying gross income under $98,500 per buyer. 

So, can a couple with that earns more than that "together" qualify?  Yes, if one them earns less than the $98,500 cap annually!

2.  Home Buyer Education 

3.  Get approved up to $400,000 with a conventional loan with a 640 FICO and debt to income ratio up to 50%.

4.  Get approved up to $300,000 with a FHA loan with a 660 FICO and debt to income ratio up to 45%. 

Current Rates:  EHousing Plus

Find Your Debt to Income Ratio:  Mortgage Calculator

5.  Purchase a primary residence in any of the 27 approved zip codes below.

Hope Brings You Home Zip Codes 

Search homes for sale by clicking on the zip code.

Las Vegas: 89101, 89102, 89103, 89104, 89106, 89107, 89108, 89109, 89110, 89115, 89118, 89119, 89120, 89121, 89122, 89128, 89142, 89146, 89156, 89169

North Las Vegas: 89030, 89031, 89032, 89081 

Henderson: 89011

Pahrump: 89048, 89060 

How to Get Started

It's super easy to get started by contacting a Hope Brings You Home lender today!

Let's help you find your new home together!