Home Is Possible 2025: Your Path to Affordable Homeownership in Las Vegas

For aspiring homeowners in Las Vegas, the Home Is Possible (HIP) program offers valuable financial assistance to make purchasing a home more attainable. Sponsored by the Nevada Housing Division (NHD), this program provides down payment assistance and competitive mortgage rates, helping buyers overcome financial barriers to homeownership.

What Is the Home Is Possible Program?

The Home Is Possible program is designed to assist first-time and repeat homebuyers by offering financial aid for down payments and closing costs. This initiative makes it easier for Nevadans to secure a home loan with more favorable terms.

Key Benefits of the Home Is Possible Program in 2025

• Down Payment Assistance: Qualified buyers can receive up to 5% of the loan amount to be used for a down payment or closing costs.
• Competitive Fixed Mortgage Rates: Helps homebuyers secure stable and affordable monthly payments.
• Forgivable Assistance: In certain cases, the assistance is forgivable after three years, provided the homeowner meets program requirements.
• Open to First-Time and Repeat Buyers: Unlike some programs, HIP is not limited to first-time buyers.

Who Qualifies for Home Is Possible?

Eligibility for HIP 2025 includes the following criteria:

• Minimum Credit Score: 640+ (varies based on loan type)
• Income Limits: Household income must not exceed $150,000 (subject to change based on program updates)
• Primary Residence: The home must be owner-occupied
• Purchase Price Limits: Varies by location and loan type
• Homebuyer Education: Buyers must complete an approved homebuyer education course

Special Homebuyer Programs in 2025

In addition to the standard Home Is Possible program, there are specialized assistance programs available:

1. Home Is Possible for Heroes

• Available to veterans and active-duty military
• Offers below-market mortgage rates
• No first-time homebuyer requirement

2. Home Is Possible for Teachers

• Provides additional benefits for Nevada K-12 teachers
• Offers a one-time bonus of up to $7,500 toward down payment and closing costs

3. Home Is Possible with Mortgage Credit Certificate (MCC)

• Provides a tax credit up to $2,000 per year for the life of the loan
• Designed for first-time homebuyers to reduce overall tax liability

How to Apply for the Home Is Possible Program

1. Find a Participating Lender: Work with an NHD-approved lender to determine eligibility.
2. Complete Homebuyer Education: Take a required course from an approved provider.
3. Secure a Mortgage Loan: Choose a fixed-rate loan that aligns with program requirements.
4. Receive Assistance at Closing: The financial assistance will be applied toward down payment and closing costs at closing.

Why Consider Home Is Possible?

With rising home prices in Las Vegas, down payment assistance programs like HIP help make homeownership more achievable. Whether you’re a first-time buyer, veteran, teacher, or looking for tax credits, the HIP program offers significant financial benefits to ease the homebuying process.

Interested in learning more? Contact our team today to see if you qualify and to explore available homes in Las Vegas!

Disclaimer: The information provided is for informational purposes only and does not constitute financial or mortgage advice. Program details, eligibility requirements, and benefits are subject to change. For the most up-to-date information, visit HomeIsPossibleNV.org or consult an approved lender.