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Launchpad (including Launchpad for First-Time Homebuyers)

Nevada Rural Housing (NRH) · Nevada

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Assistance

5%

Of the purchase price, as the program sets it

Income limit

$117,300

The household income limit the program publishes

Repayment

Deferred

No payments until the home is sold or refinanced

What is Launchpad (including Launchpad for First-Time Homebuyers)?

Launchpad (including Launchpad for First-Time Homebuyers) is a deferred second loan for homebuyers in Nevada, administered by Nevada Rural Housing (NRH).

  • Launchpad, introduced by Nevada Rural Housing in 2024, delivers a below-market first-mortgage rate plus down payment assistance for rural Nevada homebuyers. Standard Launchpad offers 3% or 5% assistance (no first-time-buyer requirement); Launchpad for First-Time Homebuyers offers 2% or 4% assistance for buyers who have not owned a primary residence in three years (waived for Veterans and targeted-area purchases). Assistance is a 0% interest, 30-year deferred, non-forgivable second mortgage repayable on sale, refinance, non-occupancy, or at maturity. Available in all 15 rural counties plus the rural parts of Clark and Washoe.
  • Below-market first-mortgage rate.
  • 2%, 3%, 4%, or 5% down payment assistance.
  • 0% interest, no monthly payments on the second mortgage.
  • First-time-buyer requirement waived for Veterans and targeted-area buyers.
  • Available across rural Nevada including rural Clark and Washoe.
  • Funding comes from Nevada Rural Housing homeownership program funds (remains open until funding fully obligated).

How much assistance does it provide?

Launchpad (including Launchpad for First-Time Homebuyers) provides assistance worth 5% of the purchase price, as set by the program.

  • Award tiers: Launchpad: 3% or 5% down payment assistance (of loan amount). Launchpad for First-Time Homebuyers: 2% or 4% down payment assistance (of loan amount).
  • Amounts are the program's published maximums, not an offer — Nevada Rural Housing (NRH) determines any individual award.

Do you have to pay it back?

Launchpad (including Launchpad for First-Time Homebuyers) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by 30-year deferred second mortgage with no interest; never forgiven. Repayable if the borrower sells, refinances, ceases to live in the property, or at the end of the 30-year term.
  • 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?

Launchpad (including Launchpad for First-Time Homebuyers) is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: Minimum 640 (660 for manufactured homes).
  • A completed homebuyer education course, through NRH-approved homebuyer education (Homebuyer 101) - free.
  • Residency: No current Nevada residency requirement; home must be occupied as primary residence within 60 days of closing.
  • Property must be in NRH's rural jurisdiction (population under 150,000); use HALMap.org to confirm address eligibility. Conventional loans are limited to 80% AMI and may carry lower income limits. Could not confirm a fixed dollar assistance cap (assistance is a percentage of loan amount).

The program excludes

  • Households above $117,300

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?

Launchpad (including Launchpad for First-Time Homebuyers) limits household income to $117,300.

  • 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?

Launchpad (including Launchpad for First-Time Homebuyers) caps the purchase price as follows: Launchpad: no program purchase-price limit (loan-agency limits apply). Launchpad for First-Time Homebuyers non-targeted: Carson City $596,945; Douglas $746,181; Storey $656,640; Washoe $656,640; all other counties $544,232. Targeted areas higher (up to $802,560 in Washoe).

  • Eligible property types include Single Family, 2-4 Unit, Condo, Townhouse, and Manufactured.
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

Launchpad (including Launchpad for First-Time Homebuyers) serves buyers purchasing anywhere in Nevada.

  • The program targets specific areas: HUD Qualified Census Tracts (targeted areas) for Launchpad for First-Time Homebuyers allow higher purchase price and income limits and waive the first-time homebuyer requirement. Tracts include Clark (57.04, 57.03, 60.01, 22.01, 22.07, 50.10, 78.01); Lyon (9602.06, 9609.01); Nye (9604.11, 9604.13, 9604.14); Washoe (19.01, 19.03, 27.03).

How do you apply?

Applications for Launchpad (including Launchpad for First-Time Homebuyers) go through Nevada Rural Housing (NRH), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through NRH-approved homebuyer education (Homebuyer 101) - free..

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

    Funds are reserved through eHousingPlus (Nevada Rural Housing Authority); reserved/locked by participating lenders., 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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