RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI)

RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) is a deferred second loan for homebuyers in Multiple, Nevada, administered by Rural Nevada Development Corporation (RNDC). RNDC's HMNI-funded down payment assistance is an interest-free deferred second loan of up to $25,000 for down payment and eligible closing costs, helping low-income first-time homebuyers purchase HQS-compliant homes in 15 rural Nevada counties. The loan carries no payments and no interest and is forgiven after 3-10 years if the home remains the borrower's primary residence; it is recaptured on early sale or transfer. This tier is funded by the State's Home Means Nevada Initiative and is distinct from RNDC's separately-cataloged HOME-funded DPA (up to $30,000). Up to $25,000 interest-free, no-payment deferred assistance. Forgivable over time. Combinable with a first mortgage. Funding comes from Home Means Nevada Initiative (HMNI) funds via Nevada Housing Division.

RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) offers up to $25,000 in assistance. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — Rural Nevada Development Corporation (RNDC) determines any individual award.

RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Due in full if the home is sold, transferred, no longer the primary residence, rented, abandoned, donated, or destroyed before the 3-10 year affordability period ends; also on death of the last surviving applicant or divorce unless a decree allows one applicant to remain. The assistance is recorded in Second / subordinate position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer defined as not having owned a home in the last 3 years. DISTINCT from the cataloged 'RNDC DPA (HOME)' tier (different funding source/max). Lender pre-qualification letter, $500 minimum earnest money, six months Nevada/county residency proof, and full income/asset documentation required. Five deed restrictions apply.

RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) sets its income limit as follows: Low-income first-time homebuyers; eligibility set by gross annual income and purchase price (Part 5/HUD income; specific limits per county/program, not published in the brochure). 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.

RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) caps the purchase price as follows: Maximum purchase-price requirements depend on which program (HOME vs HMNI) is used. Eligible property types include Single Family. New construction is not eligible.

RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) serves homebuyers purchasing in Multiple, Nevada.

Applications for RNDC Down Payment Assistance — Home Means Nevada Initiative (HMNI) go through Rural Nevada Development Corporation (RNDC), which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served; ongoing applications with a waiting list (by pre-qualification order) when funds unavailable. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.