The Nevada Rural Housing Authority has been using part of its $25 million bond that it received in January to help new homeowners and veterans purchase homes. In the first quarter of the year, they were able to help 22 homeowners move into her homes.
There’s enough money left to help 142 more homeowners find homes over the course of the year, but the Authority worked hard with these families, and is also pushing this month, so they could take advantage of the final month of the $8,000 tax credit. The program was also set up to move people into communities with less than 100,000 people, expanding the definition of “rural” communities for this program. This meant communities like Carson City, Mesquite, Pahrump and Sparks are included as potential areas for new housing.
The program is called The Home at Last Bond Program, and it offers a free cash down payment and competitive mortgage rates to first-time homebuyers and Veterans. It provides a free cash down payment equal to 3 percent of the loan and a competitive 5.375% 30-year fixed mortgage rate. An even lower 4.875% 30-year fixed mortgage rate is another option for those opt out of the down payment assistance grant.
It’s a program worth looking into, but hurry up if you’re still hoping to take advantage of federal tax credits.
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Mitch writes on real estate, finance, and many other things. 
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