Down Payment Assistance in Nevada: Programs That Help You Get Into a Home Sooner
Nevada’s rapid home price appreciation — particularly across the Las Vegas Valley and Reno-Sparks metro — has made the down payment a real barrier for many first-time buyers. The Nevada Housing Division (NHD), established in 1975, has built a suite of programs specifically to bridge that gap. The Bookspan Baker Team at Keepsake Loans is an approved Nevada Housing Division lender and experienced in helping buyers identify and use every available program.
The Nevada Housing Division: Nevada's Primary DPA Agency
The Nevada Housing Division administers statewide mortgage and down payment assistance programs for low- and moderate-income Nevada homebuyers. NHD programs are available through a network of approved lenders — including the Bookspan Baker Team — and require completion of a homebuyer education course before closing.
Home Is Possible: Nevada's Flagship First-Time Buyer Grant
Grant Amount
Up to 4% of the loan amount, applied to down payment and/or closing costs
Structure
Grant — no repayment required if you remain in the home for at least 3 years. If you sell or refinance within 3 years, the grant is recaptured.
Compatible Loan Types
FHA, VA, USDA, and Conventional loans
Minimum Credit Score
660 for government-backed and conventional loans (680 for manufactured homes)
First-Time Buyer Required
Yes — not owned a primary residence in the past 3 years
Income Limits
Apply and vary by county; check current NHD guidelines
Homebuyer Education
Required — must complete an NHD-approved course before closing
The 4% grant can make a meaningful difference in Nevada’s market. On a $400,000 purchase, that’s $16,000 toward closing costs and down payment — enough to cover FHA’s 3.5% down payment entirely with funds remaining for closing costs.
Home Is Possible for Teachers
The Nevada Housing Division’s teacher-specific program provides additional incentives for Nevada K–12 public school employees purchasing a primary residence. Key features mirror the standard Home Is Possible program with a below-market first mortgage rate offered as an additional benefit.
Home First: First-Time Buyers at or Below 80% AMI
Home First is designed for first-time buyers with household incomes at or below 80% of the Area Median Income. It pairs a below-market first mortgage rate with down payment and closing cost assistance.
Worker Advantage Program (Launched December 2025)
The newest and most significant DPA initiative in Nevada is the Worker Advantage Program, launched December 10, 2025, as part of Governor Lombardo’s Nevada Housing Access and Attainability Act (AB540).
Assistance Amount
$20,000 toward down payment and closing costs
Eligible Workers
Essential workers across a range of occupations — healthcare, education, public safety, construction, and other qualifying fields
No First-Time Buyer Requirement
Available to both first-time and repeat buyers
Income Limits
Up to 150% of Area Median Income (AMI)
Maximum Purchase Price
$806,500
Funding
$18 million available; program is first-come, first-served until funds are exhausted
Previous HIP Recipients
Not eligible
The Worker Advantage Program is particularly powerful because it drops the first-time buyer requirement and extends the purchase price ceiling to $806,500, covering a wide range of Las Vegas and Reno-area homes.
Mortgage Credit Certificate (MCC)
The Nevada Housing Division also offers a Mortgage Credit Certificate program statewide. An MCC provides qualifying buyers a federal income tax credit of up to 30% of mortgage interest paid each year — potentially for the life of the loan. MCCs are available to both first-time buyers and qualifying veterans.
How NHD DPA Pairs With Each Loan Type
FHA + Home Is Possible: FHA’s 3.5% down requirement can be fully covered by the 4% HIP grant on most purchases, leaving additional funds for closing costs.
Conventional + Home Is Possible: For buyers with stronger credit (660+), combining a low-down-payment conventional loan with the HIP grant can minimize cash at closing while avoiding FHA mortgage insurance.
VA + Worker Advantage: VA Loans already require no down payment. For eligible essential worker veterans, Worker Advantage funds can offset closing costs — reducing total cash at closing even further.
What Nevada DPA Buyers Should Know
Home Is Possible is grant-based but has a 3-year stay requirement. If you sell or refinance within 3 years, the grant amount is recaptured. After 3 years, no repayment is required.
Income limits apply to all NHD programs. Limits vary by county and household size.
Credit score minimums are firm. Home Is Possible requires 660 minimum.
Worker Advantage is funded on a first-come, first-served basis. Once $18 million is reserved, the program closes. Act promptly if you qualify.
Homebuyer education is required for all NHD program participants.
Frequently Asked Questions: Down Payment Assistance in Nevada
Home Is Possible is a grant of up to 4% of the loan amount for first-time homebuyers in Nevada. It does not need to be repaid as long as you stay in the home at least 3 years. It requires a minimum 660 credit score, income within NHD limits, and completion of a homebuyer education course.
The Worker Advantage Program, launched December 2025, provides $20,000 in down payment assistance to essential workers purchasing a primary residence in Nevada. It does not require first-time buyer status, accepts income up to 150% AMI, and covers purchase prices up to $806,500. Funding is limited to $18 million and is first-come, first-served.
Not if you stay in the home for at least 3 years. If you sell or refinance within the first 3 years, the grant amount is recaptured. After 3 years, the grant is yours to keep with no repayment obligation.
Home Is Possible requires a minimum score of 660 for government-backed and conventional loans (680 for manufactured homes). The Worker Advantage Program has its own requirements — consult your Bookspan Baker loan officer for current details.
In many cases, yes. The NHD MCC can be combined with Home Is Possible or Worker Advantage for qualifying buyers. The MCC provides an ongoing federal income tax credit rather than upfront cash, making it a separate and additive benefit.