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).

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.

Rural Rocks $20K is forgiven after 30 years, so a homebuyer 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.

Rural Rocks $20K is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Minimum 640 (660 for manufactured homes). A homebuyer education course is required, through NRH-approved homebuyer education (Homebuyer 101) - free. Residency requirement: At least one borrower must be a Nevada resident for a minimum of 6 months prior to reservation. Borrowers who previously used any NRH homeownership program are ineligible. Funds are limited and the program remains open only until fully obligated. Must meet Ginnie Mae/Fannie Mae/Freddie Mac underwriting guidelines.

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.

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.

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.

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

Applications for Rural Rocks $20K go through Nevada Rural Housing (NRH), which publishes the current terms and the application steps on its own site. Funds are reserved through eHousingPlus (Nevada Rural Housing Authority); reserved/locked by participating lenders. 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.