Nevada Rural Program Highlights
Launchpad for First-Time Homebuyers
Nevada Rural - Launchpad for First-Time Homebuyers Program | At-A-Glance
| AVAILABLE PROGRAMS | Launchpad for First-Time Homebuyers - Available March 17th |
| QUESTIONS | Questions |
| ELIGIBLE LOAN AREAS | Launchpad for First-Time Homebuyers Eligible Loan Areas |
| BULLETINS | Bulletins |
| ELIGIBLE BORROWER(S) | Borrower(s) and a Non-Purchasing Spouse cannot have had a present ownership interest in any principal residence during the last three years; and, cannot have ownership in any real property at the time of closing (the “First-Time Homebuyer Requirement”). |
| RATES | See Chart |
| DPA AVAILABLE | 0% Interest, 30-year deferred second mortgage. Assistance is either 2% or 4% of the total loan amount. |
| LOAN TYPE | See Chart |
| INCOME LIMITS | Launchpad for First-Time Homebuyers Income Limits |
| PURCHASE LIMITS | Launchpad for First-Time Homebuyers Purchase Price Limits |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. |
| HOMEBUYER EDUCATION | Launchpad for First-Time Homebuyers Homebuyer Education |
| CO-SIGNERS | For purposes of the Program, cosigners are non-occupying loan guarantors only. They are not permitted to occupy the property, may not sign the Deed of Trust and may not have any vested interest in the property. Cosigners are permitted per Agency (FHA, USDA-RD, VA), GSE and U.S. Bank guidelines. |
| PROGRAM GUIDELINES | Launchpad for First-Time Homebuyers Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |
Home At Last and Launchpad
Nevada Rural Home At Last and Launchpad | At-A-Glance
| Program | Home At Last and Launchpad - Available on March 17th |
| ELIGIBLE AREA | Home At Last and Launchpad Eligible Areas |
| BULLETINS | Bulletins |
| ELIGIBLE BORROWER(S) | Home at Last and Launchpad do not require borrowers to be First-Time Homebuyers. |
| RATES | See Chart |
| DPA AVAILABLE | 0% Interest, 30-year deferred second mortgage. Home At Last - No DPA to 4% Assistance. Launchpad - 3% and 4% Assistance. |
| LOAN TYPE | See Chart |
| INCOME LIMITS | Home At Last and Launchpad Income Limits |
| LOAN LIMITS | Home At Last and Launchpad Loan Limits |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing. |
| HOMEBUYER EDUCATION | Home At Last and Launchpad Homebuyer Education |
| CO-SIGNERS | For purposes of the Program, cosigners are non-occupying loan guarantors only. They are not permitted to occupy the property, may not sign the Deed of Trust and may not have any vested interest in the property. Cosigners are permitted per Agency (FHA, USDA-RD, VA), GSE and U.S. Bank guidelines. |
| PROGRAM GUIDELINES | Home At Last and Launchpad Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |
Home at Last MCC
Nevada Rural MCC| At-A-Glance
| AVAILABLE PROGRAMS | Home At Last Mortgage Credit Certificate |
| ELIGIBLE AREA | Eligible Area |
| BULLETINS | Bulletins |
| ELIGIBLE BORROWER(S) | Buyers and their spouse (occupant and non-occupant) must be first-time buyers (exceptions to the first-time buyer requirement for buyers using the Veterans Exception and buyers purchasing in a Federally Designated Targeted Area). |
| LOAN TYPE | See Chart |
| INCOME LIMITS | MCC Income Limits |
| PURCHASE LIMITS | MCC Purchase Price Limits |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing. |
| HOMEBUYER EDUCATION | Homebuyer Education |
| TARGETED AREA CENSUS TRACTS | Targeted Area Census Tracts |
| CO-SIGNERS | Permitted to the extent allowed by applicable Agency. Treat co-signer income as directed by the Agency. A co-signer cannot have any ownership interest in the property (they cannot be on the mortgage, deed and they cannot take title to the property). A co-signer cannot live in the property. Non-occupant co-borrowers are not permitted. |
| PROGRAM GUIDELINES | MCC Program Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |
Today’s Rates & Offerings
Nevada Rural Housing | Rates & Offerings
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[ Business Days 8:30am – 7:00 pm PT ] |
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|---|---|---|---|---|---|---|
| HAL Government | ||||||
| Offering | FICO | DPA | Lock Rate | |||
| FHA, VA, USDA-RD | 640 | 0% | 6.625% | |||
| FHA, VA, USDA-RD | 1% | 7.000% | ||||
| FHA, VA, USDA-RD | 2% | 7.625% | ||||
| FHA, VA, USDA-RD | 3% | n/a | ||||
| FHA, VA, USDA-RD | 4% | n/a | ||||
| HAL Conventional – Fannie HFA Preferred or Freddie HFA Advantage | ||||||
| Offering | FICO | DPA | Lock Rate | |||
| Fannie Mae 80% AMI / Freddie Mac 80% AMI | 640 | 0% | 6.750% | |||
| Fannie Mae 80% AMI / Freddie Mac 80% AMI | 1% | 7.125% | ||||
| Fannie Mae 80% AMI / Freddie Mac 80% AMI | 2% | 7.375% | ||||
| Fannie Mae 80% AMI / Freddie Mac 80% AMI | 3% | 7.750% | ||||
| Fannie Mae 80% AMI / Freddie Mac 80% AMI | 4% | n/a | ||||
| HAL Conventional – Fannie HFA Preferred | ||||||
| Offering | FICO | DPA | Lock Rate | |||
| Fannie Mae OVER 80% AMI | 640 | 0% | 6.875% | |||
| Fannie Mae OVER 80% AMI | 1% | 7.250% | ||||
| Fannie Mae OVER 80% AMI | 2% | 7.500% | ||||
| Fannie Mae OVER 80% AMI | 3% | 7.875% | ||||
| Fannie Mae OVER 80% AMI | 4% | n/a | ||||
| Launchpad | ||||||
| Offering | FICO | DPA | Lock Rate | |||
| FHA, VA, USDA-RD | 640 | 3% | 7.125% | |||
| FHA, VA, USDA-RD | 5% | 7.250% | ||||
| Conventional <80% AMI | 3% | 7.250% | ||||
| Conventional <80% AMI | 5% | 7.500% | ||||
| Conventional Over 80% AMI | 3% | 7.375% | ||||
| Conventional Over 80% AMI | 5% | 7.625% | ||||
| Launchpad for First Time Homebuyers | ||||||
| Offering | FICO | DPA | Lock Rate | |||
| FHA, VA, USDA-RD | 640 | 2% | 6.500% | |||
| FHA, VA, USDA-RD | 4% | 6.750% | ||||
| Conventional <80% AMI | 2% | 6.750% | ||||
| Conventional <80% AMI | 4% | 7.000% | ||||
Launchpad Bond Program
Nevada Rural - Launchpad for First-Time Homebuyers Program | At-A-Glance
| AVAILABLE PROGRAMS | Launchpad for First-Time Homebuyers - Available March 17th |
| QUESTIONS | Questions |
| ELIGIBLE LOAN AREAS | Launchpad for First-Time Homebuyers Eligible Loan Areas |
| BULLETINS | Bulletins |
| ELIGIBLE BORROWER(S) | Borrower(s) and a Non-Purchasing Spouse cannot have had a present ownership interest in any principal residence during the last three years; and, cannot have ownership in any real property at the time of closing (the “First-Time Homebuyer Requirement”). |
| RATES | See Chart |
| DPA AVAILABLE | 0% Interest, 30-year deferred second mortgage. Assistance is either 2% or 4% of the total loan amount. |
| LOAN TYPE | See Chart |
| INCOME LIMITS | Launchpad for First-Time Homebuyers Income Limits |
| PURCHASE LIMITS | Launchpad for First-Time Homebuyers Purchase Price Limits |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. |
| HOMEBUYER EDUCATION | Launchpad for First-Time Homebuyers Homebuyer Education |
| CO-SIGNERS | For purposes of the Program, cosigners are non-occupying loan guarantors only. They are not permitted to occupy the property, may not sign the Deed of Trust and may not have any vested interest in the property. Cosigners are permitted per Agency (FHA, USDA-RD, VA), GSE and U.S. Bank guidelines. |
| PROGRAM GUIDELINES | Launchpad for First-Time Homebuyers Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |
Home At Last
Nevada Rural Home At Last and Launchpad | At-A-Glance
| Program | Home At Last and Launchpad - Available on March 17th |
| ELIGIBLE AREA | Home At Last and Launchpad Eligible Areas |
| BULLETINS | Bulletins |
| ELIGIBLE BORROWER(S) | Home at Last and Launchpad do not require borrowers to be First-Time Homebuyers. |
| RATES | See Chart |
| DPA AVAILABLE | 0% Interest, 30-year deferred second mortgage. Home At Last - No DPA to 4% Assistance. Launchpad - 3% and 4% Assistance. |
| LOAN TYPE | See Chart |
| INCOME LIMITS | Home At Last and Launchpad Income Limits |
| LOAN LIMITS | Home At Last and Launchpad Loan Limits |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing. |
| HOMEBUYER EDUCATION | Home At Last and Launchpad Homebuyer Education |
| CO-SIGNERS | For purposes of the Program, cosigners are non-occupying loan guarantors only. They are not permitted to occupy the property, may not sign the Deed of Trust and may not have any vested interest in the property. Cosigners are permitted per Agency (FHA, USDA-RD, VA), GSE and U.S. Bank guidelines. |
| PROGRAM GUIDELINES | Home At Last and Launchpad Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |
Nevada Rural HAL
Nevada Rural MCC| At-A-Glance
| AVAILABLE PROGRAMS | Home At Last Mortgage Credit Certificate |
| ELIGIBLE AREA | Eligible Area |
| BULLETINS | Bulletins |
| ELIGIBLE BORROWER(S) | Buyers and their spouse (occupant and non-occupant) must be first-time buyers (exceptions to the first-time buyer requirement for buyers using the Veterans Exception and buyers purchasing in a Federally Designated Targeted Area). |
| LOAN TYPE | See Chart |
| INCOME LIMITS | MCC Income Limits |
| PURCHASE LIMITS | MCC Purchase Price Limits |
| TIMELINE REQUIREMENTS | 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing. |
| HOMEBUYER EDUCATION | Homebuyer Education |
| TARGETED AREA CENSUS TRACTS | Targeted Area Census Tracts |
| CO-SIGNERS | Permitted to the extent allowed by applicable Agency. Treat co-signer income as directed by the Agency. A co-signer cannot have any ownership interest in the property (they cannot be on the mortgage, deed and they cannot take title to the property). A co-signer cannot live in the property. Non-occupant co-borrowers are not permitted. |
| PROGRAM GUIDELINES | MCC Program Guidelines |
| PARTICIPATING LENDERS | Participating Lenders |