Down payment $$ available for Southern Nevada home buyers

Image by Pexels from Pixabay
Image by Pexels from Pixabay

Nevadans who earn less than $98,500 a year may be eligible for as much as $20,000 in down payment assistance.  

The federal government is making $17.9 million available to help some 900 Nevada households through the Treasury Department’s Down Payment Assistance Program.  

The money is available to those purchasing a single-family home, condominium or townhome in the zip codes hardest hit by foreclosures.  The purchase price may not be more than $400,000. 

“For many Nevada families, purchasing a home is an important step toward building wealth and breaking the cycle of poverty,” Democratic Sen. Catherine Cortez Masto said in a statement. “We need to be doing more to support Nevadans who are strong candidates for homeownership but don’t have a large down payment.”

The first round of funding of $33 million provided down payment assistance to more than 1,760 households, according to Cortez Masto.  

One of the qualifying zip codes — 89030 — is in North Las Vegas; two are in Pahrump (89048 and 89060) and the following are in Las Vegas: 89101, 89102, 89103, 89104, 89106, 89107, 89108, 89109, 89110, 89115, 89119, 89120, 89121, 89122, 89146, 89156, and 89169.

In addition to the income restrictions, borrowers cannot own another property and must complete a homebuyer education course.   

The Nevada Affordable Housing Assistance Corporation is accepting applications. 

Dana Gentry
Reporter | Dana Gentry is a native Las Vegan and award-winning investigative journalist. She is a graduate of Bishop Gorman High School and holds a Bachelor's degree in Communications from the University of Nevada, Las Vegas. Gentry began her career in broadcasting as an intern at Channel 8, KLAS-TV. She later became a reporter at Channel 8, working with Las Vegas TV news legends Bob Stoldal and the late Ned Day. Gentry left her reporting job in 1985 to focus on motherhood. She returned to TV news in 2001 to launch "Face to Face with Jon Ralston" and the weekly business programs In Business Las Vegas and Vegas Inc, which she co-anchored with Jeff Gillan. Dana is the mother of four adult children, three cats, three dogs and a cockatoo.