{"id":9050,"date":"2017-08-09T08:24:02","date_gmt":"2017-08-09T14:24:02","guid":{"rendered":"https:\/\/www.richmondamerican.com\/blog\/?p=9050"},"modified":"2024-01-04T15:59:47","modified_gmt":"2024-01-04T22:59:47","slug":"5-faqs-on-home-is-possible","status":"publish","type":"post","link":"https:\/\/www.richmondamerican.com\/blog\/5-faqs-on-home-is-possible\/","title":{"rendered":"5 FAQs on Home is Possible"},"content":{"rendered":"

Saving up for a down payment on a new home in Nevada? This homebuyer assistance program, now available through HomeAmerican Mortgage Corporation, may help make your dream home a reality!<\/p>\n

    \n
  1. What\u2019s Home is Possible?
    \n<\/strong>It\u2019s a grant from the Nevada Housing Division that may be used toward a down payment on a qualified home purchase. Typical program participants receive 3% to 4% of the total mortgage amount; a 5% grant is offered on conventional loans. Heroes (veterans, active service members and surviving spouses) may opt for a below-market 30-year fixed-rate loan in lieu of down payment assistance.<\/li>\n
  2. When do I have to pay the grant back?
    \n<\/strong>Never.<\/li>\n
  3. Who can qualify?
    \n<\/strong>Buyers with a combined income of no more than $98,500, a minimum credit score of 640 and a debt-to-income ratio of 45% or less. Buyers who obtain conventional financing may qualify with a debt-to-income ratio up to 50%. Applicants must also complete the program\u2019s homebuyer education course.<\/li>\n
  4. Does my loan type matter?
    \n<\/strong>No. Home is Possible grants can be used for conventional, FHA and VA mortgages.<\/li>\n
  5. What kinds of homes may be eligible?
    \n<\/strong>Owner-occupied homes in Nevada with a maximum price of $287,500 for FHA loans and $400,000 for conventional and VA loans.<\/li>\n<\/ol>\n

    Additional terms and conditions apply. Call a loan officer at HomeAmerican Mortgage Corporation<\/a> (702.638.4435) for more information!<\/p>\n

    \n

    \"Two-story<\/p>\n

    Still house hunting?<\/h3>\n

    Richmond American builds personalized new homes that can qualify!<\/p>\n

    Browse your options at RichmondAmerican.com\/HomeIsPossible<\/a><\/p>\n

    Rates and assistance grant amounts are subject to change at any time without notice. HomeAmerican Mortgage Corporation is a participating lender in the Home is Possible program. HomeAmerican Mortgage Corporation’s principal offices are located at 5775 DTC Boulevard, Suite 300S, Greenwood Village, CO 80111 (NMLS Unique Identifier #130676; NMLS Consumer Access website: http:\/\/www.nmlsconsumeraccess.org<\/a>), 866.400.7126. In Nevada, all advertised loans are offered and funded by HomeAmerican Mortgage Corporation, 7770 S. Dean Martin Drive, Suite 308, Las Vegas, NV 89139, 702.638.4450, License #67.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Saving up for a down payment on a new home in Nevada? This homebuyer assistance program, now available through HomeAmerican Mortgage Corporation, may help make your dream home a reality! What\u2019s Home is Possible? It\u2019s a grant from the Nevada Housing Division that may be used toward a down payment on a qualified home purchase. […]<\/p>\n","protected":false},"author":1,"featured_media":9119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[6],"tags":[88,179,217,279],"featured_image_src":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2017\/08\/NEV_HomeIsPossible.jpg","author_info":{"display_name":"rahblogadmin","author_link":"https:\/\/www.richmondamerican.com\/blog\/author\/rahblogadmin\/"},"yoast_head":"\r\n5 FAQs on Home is Possible - Richmond American Homes Blog<\/title>\r\n<meta name=\"description\" content=\"Get info on Nevada's Home is Possible down payment assistance program, now available through HomeAmerican Mortgage Corporation.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.richmondamerican.com\/blog\/5-faqs-on-home-is-possible\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"5 FAQs on Home is Possible - 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