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City of Las Vegas HOME Homebuyer Assistance

City of Las Vegas (Community Services Department) · Las Vegas, Nevada

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Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 15 years

What is City of Las Vegas HOME Homebuyer Assistance?

City of Las Vegas HOME Homebuyer Assistance is a deferred second loan for homebuyers in Las Vegas, Nevada, administered by City of Las Vegas (Community Services Department).

  • The City of Las Vegas uses federal HOME Investment Partnerships funds to provide down payment and closing cost assistance to low-income, first-time homebuyers, delivered through program sub-recipients. Assistance is structured as a deferred loan subject to HUD recapture provisions, with a HUD affordability/forgiveness period scaled to the amount of HOME funds provided (5, 10, or 15 years). Households must be at or below 80% of Area Median Income and the home must be the buyer's principal residence.
  • Down payment and closing cost assistance from federal HOME funds.
  • Deferred loan with no monthly payments.
  • Forgiveness tied to occupancy over a 5-, 10-, or 15-year affordability period.
  • Targets low-income first-time buyers in the City of Las Vegas.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from Federal HOME Investment Partnerships Program (HUD) funds allocated to the City of Las Vegas; administered through sub-recipients.

Do you have to pay it back?

City of Las Vegas HOME Homebuyer Assistance is forgiven after 15 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Deferred loan subject to recapture provisions under 24 CFR 92.254. Forgiveness is tied to the length of time the homebuyer occupies the home during the affordability period; the affordability period is based on the amount of HOME funds provided: under $15,000 = 5 years; $15,000-$40,000 = 10 years; over $40,000 = 15 years. If the home is sold during the affordability period, recaptured HOME funds are due (limited to net proceeds).
  • The assistance is recorded in Second position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Las Vegas HOME Homebuyer Assistance 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: First-time homebuyer = an individual (and spouse) who have not owned a home during the prior three-year period (standard HUD HOME definition).
  • The home is occupied as a primary residence
  • On credit: Could not confirm a minimum credit score; set by individual sub-recipient program.
  • A completed homebuyer education course, through Homebuyer counseling required (sub-recipients must provide tenant/homebuyer counseling); specific providers set by program.
  • Program is administered through HUD HOME sub-recipients rather than a single consumer-facing product, so the exact per-buyer assistance amount, income-limit dollar figures, maximum purchase price, and credit-score requirements are set per sub-recipient/Consolidated Plan and were NOT published in the HOME Policy & Procedures manual. Could not confirm a fixed assistance dollar amount, specific income-limit dollars, or current active sub-recipient intake from the primary source.

The program excludes

  • Households above 80% of area median income

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?

City of Las Vegas HOME Homebuyer Assistance limits household income to 80% of the area median income, which varies by county and household size.

  • Beneficiaries must be low-income households (at or below 80% Area Median Income per HUD HOME program rules). Specific dollar limits by household size follow current HUD income limits for the Las Vegas area and were not published in the manual.
  • 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?

City of Las Vegas HOME Homebuyer Assistance caps the purchase price as follows: Purchase price/value must not exceed the HUD HOME maximum (95% of area median purchase price); specific dollar amount not stated in the manual.

  • Eligible property types include Single Family, Condo, Townhouse, and Manufactured.
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

City of Las Vegas HOME Homebuyer Assistance is a federal program, so it is not limited to Nevada.

How do you apply?

Applications for City of Las Vegas HOME Homebuyer Assistance go through City of Las Vegas (Community Services Department), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Homebuyer counseling required (sub-recipients must provide tenant/homebuyer counseling); specific providers set by program..

  2. Contact City of Las Vegas (Community Services Department) to reserve funds

    Funds are reserved through Administered through City of Las Vegas HOME sub-recipients/program partners; no central public reservation portal published., 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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