Home Is Possible for Teachers

What is Home Is Possible for Teachers?

Home Is Possible for Teachers is a grant for homebuyers in Nevada.

• Nevada Housing Division's Home Is Possible for Teachers program offers eligible K-12 educators a 5% down payment and closing cost grant. The grant does not require repayment. Available to teachers and paraprofessionals at Nevada public and charter schools statewide. Compatible with FHA, VA, and Conventional 30-year fixed loans.
• 5% of the loan amount as a grant (no repayment required).
• exclusive to active K-12 teachers, paraprofessionals, and support staff at Nevada public or charter schools.
• combinable with Nevada Housing Division first mortgage.
• competitive 30-year fixed interest rate.
• available statewide.
• Funding comes from State.

How much assistance does it provide?

Home Is Possible for Teachers provides assistance worth 5% of the purchase price, as set by the program.

• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Home Is Possible for Teachers is structured as a grant, so it is not repaid.

• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Home Is Possible for Teachers is open to buyers who will live in the home as their primary residence.

What are the income limits?

Home Is Possible for Teachers limits household income to $105,000.

• 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?

Home Is Possible for Teachers caps the purchase price as follows: Purchase price limits vary by county and are based on current conforming loan limits. Contact Nevada Housing Division or an approved lender for county-specific limits.

• Eligible property types include Single Family, Condo, and Townhouse.

Where does it apply?

Home Is Possible for Teachers serves buyers purchasing anywhere in Nevada.

How do you apply?

Applications for Home Is Possible for Teachers go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-Come-First-Served, and are subject to availability.

3. 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.