Buying · Nevada down payment assistance

How Does Nevada’s Home Is Possible Down Payment Assistance Work?

By huntington & ellis, A Real Estate Agency
Program information reviewed October 15, 2026

Nevada’s Home Is Possible programs pair an eligible 30-year fixed-rate mortgage with help toward your down payment and closing costs. The main options currently advertise 2% to 5% of the loan amount, while HIP for Teachers offers $7,500. Most assistance is a repayable second mortgage; the Teachers option has forgiveness provisions. A HIP-approved lender determines eligibility and confirms current terms.

This guide focuses on the Nevada Housing Division’s Home Is Possible (HIP) programs for buyers in Las Vegas, Henderson and elsewhere in Nevada. It is not a directory of every state, local or lender assistance program. Apply through a HIP-approved lender, rather than directly with the state. See our community guides and buyer resources to plan your search. [1] [2] [3]

Percentages apply to the loan amount. Assistance, mortgage rates, eligibility and funding can change. Confirm current Worker Advantage availability with a participating lender.

Nevada down payment assistance at a glance

Income and purchase-price limits are not interchangeable across programs. Household-size rules, whose income counts and targeted-area exceptions depend on the option. Also compare the current program rates: a larger assistance amount can carry a higher first-mortgage rate. Ask for written estimates for the same home and loan type. [6] [7] [8]

Who qualifies for Home Is Possible assistance?

The main HIP programs require a Nevada primary residence, homebuyer education and standard mortgage underwriting. Published minimum credit scores are generally 640, or 660 for manufactured homes. Debt-to-income limits depend on the loan type, score and property. Meeting a published minimum does not guarantee approval; your lender must evaluate the full application. [2] [3] [6]

For the first-time program, “first-time” generally means no ownership of a principal residence in the past three years, with exceptions for eligible veterans and qualifying targeted areas. HIP-DPA has no first-time buyer requirement and allows ownership of one other property outside Nevada, subject to guidelines. Income-counting rules differ: ask whose income must be included, even if a household member will not be on the loan. [3] [7] [8]

Do you have to pay back Home Is Possible assistance?

Yes, the main first-time and HIP-DPA assistance options must be repaid. Their assistance is generally a 0% interest, 30-year deferred second mortgage that is not forgiven. There are no scheduled monthly payments on that second mortgage, but repayment is triggered by events such as a sale, transfer, refinancing, payoff of the first mortgage or ending primary occupancy, as specified in the loan documents. [7] [8]

For example, 4% assistance on a $400,000 loan equals a $16,000 second mortgage. If repayment is triggered, that balance must be paid, often from sale proceeds or as part of the refinance transaction. HIP for Teachers differs: its $7,500 assistance is forgiven monthly over five years under program terms. Ask your lender about any remaining balance if you leave early. First-time bond-program buyers should also ask whether federal recapture tax could apply to a sale within nine years. [7] [8]

What about teachers and essential workers?

HIP for Teachers

Full-time, licensed K-12 public school classroom teachers in Nevada can receive $7,500 toward down payment and closing costs, paired with a 30-year fixed-rate loan. There is no first-time buyer requirement, the income limit is up to $165,000 and the program is available through December 31, 2026. [4] [7]

Worker Advantage

Nevada announced Worker Advantage in December 2025 for qualifying essential workers. Its published materials described $20,000 in assistance, including down payment and interest-rate buy-down options. Confirm current availability before including this money in your purchase budget. This guide does not confirm that new reservations or funding are currently available. Ask a participating lender to verify eligible occupations, residency requirements, income and price limits, repayment terms and remaining funds. [9]

The Housing Division also lists veteran-focused guidance and a HIP for Heroes rate option, and a separate Home Attainability program offers $27,500 on new homes in specific approved subdivisions, currently shown on the rate page for Washoe County. [6] [10] [11]

How do you apply for Nevada down payment assistance?

Start with the state’s approved lender list, then work through these steps with your lender and real estate agent. [5] [12]

1. Get pre-approved by a HIP-qualified lender. Use the HIP lender search, or start with our preferred lender, note. A Mortgage Agency (see below). The lender checks eligibility, recommends an option and reserves the assistance with your loan. [1] [12]
2. Complete homebuyer education. Every buyer on the loan or deed needs a certificate before closing; the HIP site links to approved courses. [5] [7]
3. Find a HIP-qualified real estate agent. The state keeps a HIP agent search. [5]
4. Find a qualifying home and make an offer within your program’s price limit. [5]
5. Close escrow with your lender handling the program paperwork. [5]
6. Receive your keys. [5]

Questions go to the Home Is Possible team at [email protected] or 800.227.4960; the Southern Nevada office is at 3300 W. Sahara Ave., Ste. 425, Las Vegas (702.486.7220). [2]

What does down payment assistance really cost?

Compare total monthly ownership cost, not just cash to close. That means the first-mortgage payment at the program rate, mortgage insurance if any, property taxes, homeowners insurance, HOA dues and assessments, utilities and maintenance. You can check a specific parcel’s assessed value and tax history through the Clark County Assessor before you write an offer.

Ask your lender to price the same home with larger assistance, smaller assistance and no assistance. Compare cash to close, the total monthly payment, lender fees and the second-mortgage payoff at your expected sale or refinance date. A small rate difference can add up over time; the best fit depends on your finances and how long you keep the loan.

How huntington & ellis would approach down payment assistance

We start with a conversation and an introduction to our preferred lender, note. A Mortgage Agency, along with the state’s HIP lender list so you can compare options side by side. Once you have a pre-approval that names the program, we set the search around its price limit, any targeted-area rules and the homebuyer education timeline, to prioritize properties that fit the program, subject to lender and property approval. We plan offer terms with the program’s closing timelines in mind and keep the lender, escrow and seller’s side on the same schedule. We do not choose the program for you; that is a decision between you and your lender.

Should I take the largest assistance amount I qualify for?

Not automatically. The larger amount makes sense when cash to close is the main hurdle and the monthly payment still fits comfortably. If you have savings to cover the down payment, a smaller amount or a lower-rate option may cost less over time. If you expect to move or refinance within a few years, remember that a deferred second mortgage is repaid at that point. Run both scenarios with your lender before you start touring.

The short answer

Home Is Possible can reduce the cash needed to buy a Nevada home, but most assistance must eventually be repaid. The main first-time and HIP-DPA options currently advertise 2% to 5% of the loan amount; Teachers offers $7,500 with forgiveness provisions. Start with a HIP-approved lender, compare complete loan costs and confirm the home meets your selected program’s requirements. [3] [4] [6] [7] [8]