First-Time Home Buyer Programs in Nevada
Buying your first home in Nevada? The Nevada Housing Division runs the state's flagship program — Home Is Possible — and it stacks with federal loans and local DPA. Here's the full picture, plus how to qualify.
Home Is Possible
Below-market first mortgage from Home Is Possible paired with down payment and closing-cost assistance, plus an optional MCC tax credit. Available to qualified Nevada first-time buyers meeting income and purchase-price caps.
How first-time homebuyer programs work in Nevada
"First-time buyer" in Nevada usually means you haven't owned a principal residence in the past three years — a wider net than most people expect. Home Is Possible programs typically pair a competitive first mortgage with down payment and closing-cost assistance, often as a forgivable second lien or grant, plus an optional Mortgage Credit Certificate (MCC) that converts a portion of mortgage interest into a federal tax credit for the life of the loan.
Eligibility hinges on three inputs: your credit score (typically 620–640 for conventional, 580 for FHA), your household income relative to program caps that vary by county in Nevada, and the purchase price of the home. Completing a HUD-approved homebuyer education course is required before closing on most Home Is Possible products.
The best part: Nevada first-time buyer programs stack with FHA, VA, USDA, and conventional first mortgages, so an FHA borrower with a 620 score can still access Home Is Possible DPA. And city or county programs in Nevada often layer on top for even larger totals — see the Grant Finder for your ZIP-specific total.
How to qualify: Nevada first-time buyer steps
- 1
Check your credit for NV program eligibility
Most Nevada first-time buyer programs require a minimum credit score (typically 620–640 for conventional, 580 for FHA). Pull your score for free with a soft inquiry so you know where you stand before applying.
- 2
Confirm Nevada first-time buyer status
Home Is Possible defines "first-time buyer" as someone who hasn't owned a principal residence in the past three years. Some Nevada targeted areas waive this rule.
- 3
Take a NV approved homebuyer education course
Home Is Possible requires a HUD-approved homebuyer education course before closing on most first-time programs. Most run 6–8 hours and can be completed online.
- 4
Apply through a Home Is Possible-approved lender
Home Is Possible is originated by participating NV lenders, not by the HFA directly. Your loan officer submits the DPA package alongside your main mortgage application.
- 5
Close on your Nevada home
First mortgage funds and DPA come to closing together. Keep documentation of the assistance terms — some Nevada DPA is forgivable after a residency period.
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Start my NV readiness checkNevada first-time buyer programs: FAQ
What is the flagship first-time buyer program in Nevada?▾
Home Is Possible is the headline first-time homebuyer product from the Nevada Housing Division (Home Is Possible). Below-market first mortgage from Home Is Possible paired with down payment and closing-cost assistance, plus an optional MCC tax credit. Available to qualified Nevada first-time buyers meeting income and purchase-price caps.
What credit score do I need for Nevada first-time buyer programs?▾
Most Nevada first-time buyer programs require a minimum credit score of typically 620–640 for conventional, 580 for FHA. Higher scores unlock better interest rates and more DPA options. If your score is below the floor, use HomeApproach's Credit Readiness tool to see the fastest path to qualifying.
Do Nevada first-time buyer programs work with FHA or VA loans?▾
Yes. Home Is Possible and most Home Is Possible products layer on top of FHA, VA, USDA, and conventional first mortgages. Your lender submits the DPA application alongside your first mortgage — no separate credit pull required.
Can I stack Nevada first-time buyer programs with local city or county DPA?▾
In most cases, yes. Nevada buyers regularly combine Home Is Possible state assistance with city or county DPA and federal loans. Home Approach's Grant Finder waterfalls through all four layers by ZIP to show your specific total.
Do I have to be a Nevada resident to qualify?▾
Home Is Possible requires the home you're buying to be in Nevada and to become your primary residence. You do not typically need to be a current Nevada resident to apply, but check program-specific residency rules.