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Buy in Nye Homeownership Program

Nevada Rural Housing (Nevada Rural Housing Authority) · Nye County, Nevada

Last verified
See what you qualify forOfficial program site →
Assistance

$5,000–$16,000

The maximum the program publishes — not an offer

Repayment

Forgivable

Forgiven once the program's conditions are met

What is Buy in Nye Homeownership Program?

Buy in Nye Homeownership Program is a forgivable loan for homebuyers in Nye County, Nevada, administered by Nevada Rural Housing (Nevada Rural Housing Authority).

  • A limited-time, place-based down payment assistance program offered exclusively in Nye County, Nevada, funded in part by Nye County (originally seeded with $400,000 of Nye County American Rescue Plan Act dollars). It pairs a 30-year first mortgage at a below-market interest rate with one of two forgivable DPA options and can be combined with Nevada Rural Housing's Mortgage Credit Certificate. Geared to first-time, rural homebuyers purchasing single-family homes, townhomes, condos, or manufactured homes (including eligible new-construction communities) in Nye County.
  • Two forgivable DPA options: $16,000 or $5,000.
  • Below-market 30-year fixed first mortgage.
  • $5,000 option carries a rate ~1.5% below market; $16,000 option at or slightly below market.
  • May be paired with the Mortgage Credit Certificate (MCC) for ongoing federal tax credit.
  • Exclusive to Nye County buyers.
  • Funding comes from Nye County (American Rescue Plan Act funds; Nye County Commission dedicated $400,000) administered by Nevada Rural Housing.

How much assistance does it provide?

Buy in Nye Homeownership Program offers between $5,000 and $16,000 in assistance.

  • Award tiers: Option 1: $16,000 DPA with first-mortgage rate at or slightly below market and Option 2: $5,000 DPA with first-mortgage rate ~1.5% below market.
  • The program can be combined with Nevada Rural Housing Mortgage Credit Certificate (MCC).
  • Amounts are the program's published maximums, not an offer — Nevada Rural Housing (Nevada Rural Housing Authority) determines any individual award.

Do you have to pay it back?

Buy in Nye Homeownership Program is a forgivable loan, so the balance is forgiven once the program's conditions are met.

  • The assistance is recorded in Second (subordinate to first mortgage) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Buy in Nye Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Defined as not having owned a home within the past three years
  • The home is occupied as a primary residence
  • On credit: Minimum credit score starts at 640
  • A completed homebuyer education course
  • Residency: At least one borrower must have a minimum six-month Nevada residency
  • DRAFT (dpa-gap-finder 2026-06-14): pending review. At least one borrower must have a minimum six-month Nevada residency; must be a first-time/rural homebuyer (no ownership in past three years); homebuyer education required; purchase must be in Nye County.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Buy in Nye Homeownership Program sets its income limit as follows: Income limits based on 300% of the Federal Poverty Guidelines (FPG) and household size; for each additional household member add $15,420.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Buy in Nye Homeownership Program can be used for Single Family, Townhouse, Condo, and Manufactured.

  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

Buy in Nye Homeownership Program serves buyers purchasing in Nye County, Nevada.

  • The program targets specific areas: Available only for home purchases in Nye County, Nevada.

How do you apply?

Applications for Buy in Nye Homeownership Program go through Nevada Rural Housing (Nevada Rural Housing Authority), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact Nevada Rural Housing (Nevada Rural Housing Authority) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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