Nevada Rural Housing Authority (NRHA) – Nevada Rural Home at Last Programs
Note – for details, see the Administrator’s Guidelines under GUIDELINES Tab
|LOAN TIMELINE REQUIREMENTS||DO NOT RESERVE EARLY. BORROWERS SHOULD BE QUALIFIED BEOFRE RESERVING.
|ELIGIBLE AREAS||State of Nevada
|ELIGIBLE LOAN TYPES||
|AVAILABLE DOWN PAYMENT ASSISTANCE||
|INCOME LIMIT CRITERIA||
|HOME ACQUISITION LIMITS||
|HOME BUYER EDUCATION||
|FICO SCORE & CREDIT REQUIREMENT||
|FORMS AND DOCUMENTATION||
Current Rate/Offerings – Please make sure you make the correct selection when reserving – Reservation/locks – AVAILABLE from 8:00am-7:00pm Pacific (11-10 EDT) Market Business days, excluding weekends & holidays
|Rate/Offerings||DPA||Lock Rate||Min FICO||Effective Date||Origination / Discount Pts||SRP Paid at loan Purchase|
|FHA*, USDA-RD, VA||w/2%||4.375%||640 or 660||11/9||0.5%||2.25% (1.75% VA)|
|FHA*, USDA-RD, VA||w/3%||4.625%||640 or 660||11/16||0.5%||2.25% (1.75% VA)|
|FHA*, VA||w/4%||5.25%||640 or 660||11/20||0.5%||2.25% (1.75% VA)|
|FHA*, VA||w/5%||5.50%||640 or 660||6/21||0.5%||2.25% (1.75% VA)|
|* FHA 660 + FICO|
|CONVENTIONAL – FANNIE MAE|
- 30 Year, Fixed Rate, Amortized.
- Manufactured Housing revised – see guidelines
- Manual UW, see guidelines (11/2)
* Most current rate is available online after you login.
- Various levels of assistance, driven by rate & loan types
- Non-repayable Grant
- System will automatically calculate based on the final loan amount (Note)
- Lender up-fronts the exact amount of DPA. US Bank will reimburse at purchase
eHousingPlus is the Program Administrator, and provides some of the following services:
|Administrator Guidelines (11/3)
The Following Lenders have been approved to originate loans:
- Academy Mortgage Corporation
- All Western Mortgage Network
- Alterra Group, LLC. (FKA Venta)
- American Financial Network
- American Pacific Mortgage
- Axia Financial, LLC dba Axia Home Loans
- Banc of California
- Bank of England
- Bay Equity LLC
- Bay Valley Mortgage dba Pacific Bay Lending
- Broker Solutions Inc DBA New American Funding
- CalAtlantic fka RMC Mortgage
- CalCon Mutual Mortgage LLC dba OneTrust Home Loans
- Caliber Home Loans
- Castle & Cooke Mortgage
- Catalyst Lending, Inc.
- City First Mortgage Services
- Citywide Home Loans
- CMG Mortgage
- Cobalt Mortgage
- Cornerstone Home Lending, Inc.
- Cross Country Mortgage
- DHI Mortgage
- Dignified Home Loans
- Doorway Home Loans
- Dubuque Bank and Trust Company
- Everett Financial dba Supreme Lending
- Evergreen Home Loans
- Fairway Independent Mortgage Corporation
- Finance of America
- First California Mortgage Company
- First Option Mortgage, LLC
- Franklin American Mortgage Company
- Freedom Mortgage Corporation
- Geneva Financial
- Greater Nevada Mortgage Services
- Guild Mortgage
- Home Community Mortgage
- HomeBridge Financial Services Inc.
- Homeowners Financial Group
- Integrity First Financial Group, LLC
- International City Mortgage
- iServe Residential Lending LLC
- JFK Financial Inc.
- Land Home Financial Services, Inc.
- LeaderOne Financial Corp.
- Lenox Financial Mortgage Corporation, dba Weslend Financial.
- loanDepot.com, LLC
- Mann Mortgage
- Mason-McDuffie Mortgage Corporation
- Movement Mortgage, LLC
- Nova Home Loans
- OCMBC, Inc
- One Nevada Credit Union
- On Q Financial, Inc.
- Pacific Union Financial, LLC
- Paramount Residential Mortgage Group
- Peoples Home Equity, Inc.
- Peoples Mortgage Company
- People’s National Bank
- Platinum Home Mortgage
- Primary Residential Mortgage Inc.
- Prospect Mortgage
- Pulte Mortgage
- Republic Mortgage Home Loans, LLC
- Residential Bancorp
- RMS & Associates (Residential Mortgage Services)
- Security National Mortgage
- Sierra Pacific Mortgage Company
- South Pacific Financial Corporation
- Southern Fidelity Mortgage
- Stearns Lending
- Stonegate Mortgage
- Summit Funding Inc.
- Sun West Mortgage Company Inc.
- SWBC Mortgage
- The Federal Savings Bank
Universal American Mortgage CorpEagle Home Mortgage, LLC.
- ubermortgage, Inc.
- US Bank Home Mortgage
- VanDyk Mortgage
- Vitek Mortgage Group
- Wells Fargo Home Mortgage
- W J Bradley Mortgage Capital LLC
Interested in becoming a participating lender? Contact us.
- 3/15-Revised daily rate lock availability to 7pm PT. Revised rate option grid. Reduced minimum FICO on manufactured home loans. Added Fannie Mae income limit
- 7/27- revisions to guidelines, manual underwriting information, delegated underwriting information was removed, tax address instructions were changed and other various revisions.
- 5/26 – Dropped USDA with 4% dpa
- 4/11- dropped the Fannie Mae without assistance & added Fannie Mae MFH Housing at one level.
- 2/1- Manufactured housing loans FICO 680 & LTV 95
- 12/1- MANUFACTURED HOMES are eliminated (eff 12/1 reservations)
- 9/8- the Program will now offer 8 Rates/Offerings, the 1% origination/discount fee has been eliminated
- 9/3-Progam name updated to Home at Last
- 6/29- The conventional product, HFA Preferred will be available for new reservations effective 7/1
- 6/9-Updated guidelines – servicer fee
- No refinance loans (except loans currently being serviced by US Bank)
- 1/2 – New Income and Acquisition Limits
- 1/1/2014 – New Program Starts.
- 1/1/2014 – Must be approved for the 2014 Home at Last Access program. Contact Nevada Rural Housing Authority if you do not see your company listed under participating lenders.
1. eHP Lender Program Training
- Required for everyone participating in the program
- offered 24/7
- Click here to attend Program training
2. eHP System Training*
- After you complete the online Lender Program Training, information is provided as to what happens next.
- Click here to register for system training
Should you have any questions please contact firstname.lastname@example.org
To read more about eHP Program Training, click here. * System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.