Rural Rocks $20K

What is Rural Rocks $20K?

Rural Rocks $20K is a forgivable loan for homebuyers in Nevada, administered by Nevada Rural Housing (NRH).

• Rural Rocks $20K from Nevada Rural Housing provides up to $20,000 toward down payment and closing costs for Nevada's essential workers. At least one borrower must work in a qualifying essential-worker industry and have been a Nevada resident for six months or more; first-time and repeat buyers qualify. The assistance is a 0% interest, 30-year forgivable second mortgage (forgiven at maturity, repayable if the first mortgage is sold/refinanced/prepaid early) and can be used as standalone assistance or combined with a permanent interest-rate reduction.
• Up to $20,000 toward down payment/closing costs.
• 0% interest, no payments, forgivable at 30-year maturity.
• Option to combine with a permanent rate reduction.
• First-time and repeat buyers eligible.
• Low 640 minimum credit score.
• Funding comes from Nevada Rural Housing homeownership program funds (limited; program remains open until funds fully obligated).

How much assistance does it provide?

Rural Rocks $20K offers up to $20,000 in assistance.

• Award tiers: $20,000 standalone DPA, OR $20,000 with a 2% permanent interest-rate discount (2% of the assistance pays discount points; remainder to down payment/closing/principal).
• 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?

Rural Rocks $20K is forgiven after 30 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by 30-year forgivable second mortgage, forgiven at maturity (not prorated). If the borrower sells, refinances, or prepays the first mortgage before the end of the 30-year term, the original DPA amount is repayable to Nevada Rural Housing.
• 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?

Rural Rocks $20K is open to buyers who will live in the home as their primary residence.

What are the income limits?

Rural Rocks $20K limits household income to 150% of the area median income, which varies by county and household size.

• Household income must not exceed 150% AMI; single limit per county (all household sizes): Carson City $139,050; Churchill $152,850; Clark $142,350; Douglas $163,200; Elko $165,450; Esmeralda $158,850; Eureka $120,750; Humboldt $146,250; Lander $161,400; Lincoln $142,950; Lyon $141,900; Mineral $96,150; Nye $109,500; Pershing $154,200; Storey $167,700; Washoe $167,700; White Pine $156,750.
• 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?

Rural Rocks $20K caps the purchase price at $806,500.

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

Is there eligibility for specific groups?

Rural Rocks $20K names educators, law enforcement officers, firefighters, and healthcare workers among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Rural Rocks $20K serves buyers purchasing anywhere in Nevada.

How do you apply?

Applications for Rural Rocks $20K go through Nevada Rural Housing (NRH), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

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

2. 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. 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.