Homeownership – it’s the American Dream!
by Melanie Evans
Homeownership – it’s the American Dream! Although homeownership is not right for everyone, we at Nevada Rural Housing Authority believe it should be within reach for all Nevadans. Our mission is to promote, provide, and finance affordable housing opportunities for all rural Nevadans. Since launching in 2006, Home At Last™ has helped more than 7,000 Nevadans become homeowners, providing more than $40 million dollars in down-payment assistance.
Most renters can afford to make their monthly rent payment, but they aren’t always able to come up with the down payment to purchase a home of their own. That’s where Home At Last™ comes in. Home At Last’s™ down-payment assistance program provides anywhere from 0% to 5% of the loan amount to cover down-payment assistance and closing costs.
Something unique to Mesquite is that it qualifies for USDA Rural Development Guaranteed loans, which provide 100% financing. Pair a USDA loan with 2% down-payment assistance from Home At Last™, and many families receive their earnest money check back at the closing table — that is truly NO money down!
Home At Last™ also offers a Mortgage Credit Certificate program which can be paired with our down-payment assistance, providing a tax credit based on the mortgage interest. Most homebuyers save $2,000, and that’s every year for the life of the loan. That $2,000 can also be used as extra income, to help homebuyers qualify for a larger loan, AND lower debt-to-income ratios.
We believe everyone deserves to find a home, including our furry friends! We have a very special program called HAL Pals. HAL (Home At Last™ for short) Pals covers the pet adoption fees for each family that uses Home At Last™ to purchase their home. Home At Last™ helps get Nevadans home, and our fur babies home as well.
We will be rolling out a brand new Lease-to-Own program soon for folks who want to buy a home, but are not quite credit-ready. They will be able to get into the home they want now, at the rates and home prices today, and purchase when they are ready, usually within three years.