HBYH

Nevada Housing Division (NHD) – Hope Brings You Home Program

 

Department of Business & Industry

HOPE BRINGS YOU HOME

 

 

 Lender/Program Portal

 

 

 

PROGRAM FUNDS
  • Reservation/Locks – AVAILABLE from 8am-7pm Pacific
    • Other system functions are available 24/7
LOAN TIME LINE REQUIREMENTS DO NOT RESERVE EARLY. BORROWERS SHOULD BE QUALIFIED BEFORE RESERVING.

  • Reservation to UW Cert: 20 calendar days (cancelled if not certified)
  • Reservation to Close and Delivery: 45 calendar days
  • Reservation to Loan Purchase: 70 calendar days
ELIGIBLE AREAS
  • Home Brings You Home Program eligible areas to originate loans is only in the following zip codes: 89011, 89030, 89031, 89032, 89048, 89060, 89081, 89101, 89102, 89103, 89104, 89106, 89107, 89108, 89109, 89110, 89115, 89118, 89119, 89120, 89121, 89122, 89128, 89142, 89146, 89156, 89169   Need Details?
ELIGIBILITY CRITERIA
  • There is no first-time homebuyer requirement in this program BUT borrower(s) cannot own home at time of closing.
ELIGIBLE LOAN TYPES
  • Government – FHA, VA, USDA-RD
  • Conventional – HFA Preferred
ASSISTANCE  

 

  • 10% of the Purchase Price up to $20,000
  • Used for down payment or closing costs
  • Cash back is not allowed
  • 3 Year Forgivable Second
INCOME LIMIT CRITERIA
  • Household income = 1003 Credit Qualifying Income (not co-signor’s)
  • All Family sizes = $98,500
HOME ACQUISITION LIMITS
  • Existing properties = $400,000 
  • New construction is NOT allowed
HOME BUYER EDUCATION
FICO SCORE & CREDIT REQUIREMENT
  • Mid FICO score
    • FHA 660
    • VA, USDA, HFA Preferred 640
  • Max 45 debt-to-income (DTI) ratio
CO-SIGNERS
  • permitted to the extent permitted by applicable Agency (Fannie Mae, FHA, VA, USDA: RD).
  • cannot have any ownership interest in the property (they cannot be on the mortgage/Deed/Warranty Deed).
LENDER PARTICIPATION
  • Approval by Nevada & US Bank
FORMS AND DOCUMENTATION
  • Available online under Forms
THE AGENCY
  • Issues the programs, Creates the first mortgage and down payment assistance options
  • Sets the rate, term and points
  • Lender relationships, Markets the program
  • NHD’s Web
  • Need help
MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
  • Servicer Lender Guides, Click here
  • If you need assistance with the Servicer Lender Guides or to contact the US Bank, Click here.
EXTENSION
  • To request a one-time 30-day extension, Click here.
  • Extensions are not granted to extend the days from Reservation to UW Certification
    MCC 
  • The MCC can be used in combination 
  • The combination (COMBO) must meet the stricter of the guidelines
  • MCC Details
Reservation/locks – AVAILABLE from 8:00am-7:00pm Pacific (11-10 EDT excluding weekends & holidays)
HIP Rate/Offerings Min Mid FICO Lock Rate DPA Effective Date
GOVERNMENT
FHA 660 4.375% 10% up to $20,000 7/5
USDA-RD , VA 640
CONVENTIONAL – FANNIE MAE
HFA Preferred 640 4.875% 10% up to $20,000 7/5
  • 30 Year, Fixed Rate, Amortized
  • SRP 2.25% FHA & USDA, 1.75% VA, 2.25 Fannie Mae
  • Origination Discount Points 0.5%
  • Only available in the following zip codes: 89011, 89030, 89031, 89032, 89048, 89060, 89081, 89101, 89102, 89103, 89104, 89106, 89107, 89108, 89109, 89110, 89115, 89118, 89119, 89120, 89121, 89122, 89128, 89142, 89146, 89156, 89169
  • CLTV (must include DPA) cannot exceed 105%

DPA

  • 10% up to $20,000
  • Assistance is system (automatically) calculated of the final purchase price
  • 3 Year Forgivable Second
  • 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  Administrator's Guidelines 6/9 7/22 

  • Provides the web-based program loan reservation and management system, Administrator’s Guidelines, Program forms, Lender Program and System Training, Notices and updates to Lenders, Compliance Support to Lenders, Reviews Compliance Files, Timelines, Works with the Agency and Master Servicer on Program Goals.
  • Need help, Click here
Partial Exemption (in case needed up front)