Nevada Housing Division (NHD) – Home is Possible Program
Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS
|LOAN TIME LINE REQUIREMENTS||DO NOT RESERVE EARLY. BORROWERS SHOULD BE QUALIFIED BEOFRE RESERVING.
|ELIGIBLE LOAN TYPES||
|AVAILABLE DOWN PAYMENT ASSISTANCE||
|INCOME LIMIT CRITERIA||
|HOME ACQUISITION LIMITS||
|HOME BUYER EDUCATION||
|FICO SCORE & CREDIT REQUIREMENT||
|FORMS AND DOCUMENTATION||
Reservation/locks – AVAILABLE from 8:00am-7:00pm Pacific (11-10 EDT excluding weekends & holidays)
|HIP Rate/Offerings||Min FICO||Lock Rate||DPA||Effective Date||Origination Discount Points||SRP Paid at Loan Purchase|
|HEROES – (specific qualifications) – without DPA|
|VA, USDA-RD||640||3.625%||n/a||9/18||0.5%||2.25% (1.75% VA)|
|9/1 – A Teacher Program will be back in Oct. Please see blackboard for details|
|GOVERNMENT w/DPA as a grant|
|VA, USDA-RD||640||4.500%||w/3%||9/18||0.5%||2.25% (1.75% VA)|
|VA||640||5.00%||w/4%||6/19||0.5%||2.25% (1.75% VA)|
|CONVENTIONAL – FANNIE MAE|
- 30 Year, Fixed Rate, Amortized
- Manual UW permitted – see guidelines
- Manufactured homes are an allowable property program wide – see guidelines
Most current rate is available online after you login.
- Various levels of assistance, driven by interest rate, loan type, FICO, etc.
- Lender up-fronts the exact amount of DPA. US Bank will reimburse at purchase
DPA as a grant
- Assistance is system (automatically) calculated of the final loan amount
DPA as a second mortgage – (TEACHERS program only)
- 0% Interest
- 5-year forgivable second mortgage
DPA – NEW 6/7 HIP 1500 Program
eHousingPlus is the Program Administrator, and provides some of the following services:
|Administrator Guidelines (6/6)
The Following Lenders have been approved to originate loans:
- Academy Mortgage
- All Western Mortgage
- Alterra Group, LLC (FKA Venta)
- America First Federal Credit Union
- American Financial Network, LLC
- American Financing Corporation
- American Pacific Mortgage
- Amerifirst Financial, Inc.
- Axia Financial, LLC dba Axia Home Loans
- Banc of California N.A. dba Banc Home Loans
- Bank of England
- Bay Equity
- BNC National Bank
- Broker Solutions Inc dba New American Funding
- CalAtlantic Mortgage, Inc.
- Calcon Mutual Mortgage, LLC dba One Trust Home Loans
- Caliber Home Loans
- Cardinal Financial Company
- Castle & Cooke Mortgage
- Catalyst Lending
- City First Mortgage Services
- Citywide Home Loans
- CMG Mortgage, Inc. dba CMG Financial
- Cornerstone Home Lending Inc.
- Cross Country Mortgage
- DHI Mortgage Company
- Dignified Home Loans
- Direct Mortgage, Corp
- Envoy Mortgage
- Equity Prime Mortgage LLC (fka Equity Loans LLC)
- Essex Mortgage
- Everett Financial DBA Supreme Lending
- Evergreen Home Loans
- Fairway Independent Mortgage Corporation
- Finance of America
- First California Mortgage
- First Mortgage Corporation
- First Option Mortgage
- Franklin American Mortgage Company
- Freedom Mortgage
- Geneva Financial
- Goldwater Bank, N.A.
- Greater Nevada Mortgage Services
- Guaranteed Rate Inc.
- Guild Mortgage Company
- Home Community Mortgage
- Home Funding Corporation
- HomeAmerican Mortgage Corporation
- HomeBridge Financial
- Homeowners Financial Group
- iServe Residential Lending, LLC.
- Integrity First Financial Group
- Intercontinental Capital Group
- International City Mortgage, Inc.
- JFK Financial Inc.
- KBHS Home Loans
- Land Home Financial Services
- LeaderOne Financial
- Lenox Financial Mortgage dba Weslend Financial Mortgage
- Loan Simple, Inc.
- LoanDepot.com, LLC
- Mann Mortgage
- Mason-McDuffie Mortgage Corporation
- MidCountry Bank
- Mountain West Financial, Inc
- Movement Mortgage LLC
- Nationstar Mortgage
- Nevada Mortgage, Inc.
- New Penn Financial
- North American Financial Corp
- NOVA Financial & Investment Corp
- On Q Financial
- One Nevada Credit Union
- Pacific Union Financial, LLC
- Paramount Residential Mortgage
- People’s Home Equity
- Peoples Mortgage Company
- People’s National Bank
- Perl Mortgage, Inc.
- Pinnacle Lending Group, Inc.
- Platinum Home Mortgage Corporation
- Primary Residential Mortgage
- PrimeLending, A PlainsCapital Company
- Prospect Mortgage LLC
- Pulte Mortgage
- ReNew Lending, Inc.
- Residential Bancorp
- RMS & Associates
- RPM Mortgage, Inc.
- Security National Mortgage Company
- Sierra Pacific Mortgage
- Silver State Schools Credit Union
- South Pacific Financial Corp.
- Southern Fidelity Mortgage
- Stearns Lending (William Lyon Mortgage, LCC (WLM), a Joint Venture)
- Stonegate Mortgage Corporation
- Summit Funding, Inc.
- Sun West Mortgage Company
- SWBC Mortgage Corporation
- Synergy One Lending, Inc.
- The Federal Savings Bank
- The Home Lending Group, LLC.
- Umpqua Bank
Universal American Mortgage CompanyEagle Home Mortgage, LLC.
- US Bank
- VanDyk Mortgage
- VIP Mortgage, Inc.
- Vitek Mortgage
- Wells Fargo Bank N.A.
Interested in becoming a participating lender? Contact us.
- Reminder that the Administrator’s Guidelines provide details to this program. You should check the UPDATES page (right after the Table of Contents). For information related to the mortgage file (DU, Insurance, ratios, etc) contact US Bank.
- 9/1 – Thanks to all of you, the HIP for Teachers Pilot Program was a huge success! Nevada Housing Division is working on the mechanics of a NEW Teachers program, expected in October. Read more
- 6/7 – HIP 1500 Program is additional DPA for Fannie Mae HFA Preferred loans……Bonus on top of Bonus – view details
- 3/15- Manufactured homes are an allowable property program wide.
- 3/15 – Borrower is limited to using the program one time
- 12/5 – Pilot Program is launched for teachers. K-12 licensed full-time teachers (public schools).
- 11/1 Heroes extended to include Teachers.
- 8/18-The minimum credit score for all Conventional loans has been reduced to 640. All HFA Division approved lenders may begin originating and underwriting Conventional loans with a minimum 640 credit score with LTV’s up to 97%.
- 7/1- USDA at 4% dpa has been removed.
- eHP Lender Program Training
- Required for everyone participating in the program
- offered 24/7
- Click here to attend Program training
- 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 on training, please contact email@example.com
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.