Edited and reviewed by CEO Vatche Saatdjian — 30+ years of experience — Expert on FHA loans
Complete guide to down payment assistance, grants, tax credits, and loan programs helping first-time buyers afford homes in Las Vegas, Henderson, Reno, and across Nevada.
Nevada first-time homebuyers have access to multiple programs offering down payment assistance, low down payment loans, and tax credits. Key options include:
The Nevada Housing Division (NHD) is the state's primary source of homebuyer assistance. They offer down payment grants and tax credits for qualified Nevada residents.
How it works: NHD provides a forgivable grant covering part or all of your down payment and closing costs. The grant is forgiven as long as you live in the home for the minimum period (typically 5 years). If you sell or refinance early, you may repay a prorated portion.
Best for: First-time buyers with steady income but limited savings. Especially helpful in Las Vegas and Reno where prices have increased significantly.
How it works: An MCC is a dollar-for-dollar federal tax credit (not deduction) reducing your tax liability every year. If you pay $10,000 in mortgage interest annually, a 20% MCC gives you a $2,000 tax credit – meaning you owe $2,000 less in federal taxes.
Best for: Buyers with significant mortgage interest payments who want to maximize tax benefits. Particularly valuable for higher-priced homes in Reno or Henderson.
Major Nevada cities offer additional first-time buyer assistance programs beyond state and federal options. These local programs can often be stacked with other assistance for maximum benefit.
How repayment works: The second mortgage becomes due when you sell, refinance, pay off the first mortgage, or transfer the property. If you stay for 20+ years, the loan may be forgiven. Best for buyers planning long-term homeownership in Las Vegas neighborhoods.
Program details: Henderson's program targets workforce housing and helps police, firefighters, teachers, and other municipal workers afford homes. The second mortgage is repayable upon sale or refinance. Priority given to public servants and those purchasing in targeted revitalization areas.
Forgiveness structure: 20% of the grant is forgiven each year you remain in the home. After 5 years of continuous occupancy, the entire grant is forgiven. If you sell or move before 5 years, you repay the unforgiven portion. Popular in growing Reno neighborhoods like Southwest and Midtown.
Coverage areas: Available for homes in unincorporated Clark County (not Las Vegas or Henderson city limits). Serves areas like Spring Valley, Enterprise, Summerlin South, and other communities. Can be combined with Nevada Housing Division programs for maximum assistance.
Many Nevada first-time buyers successfully combine multiple programs. For example, use an FHA loan (3.5% down) + Nevada Housing Division HIP grant ($15,000) + City of Las Vegas assistance ($10,000) = up to $25,000 in help plus low down payment. Work with an experienced lender who knows how to layer these programs correctly for maximum benefit.
Several federally-backed loan programs make homeownership accessible to first-time buyers in Nevada, even with limited savings or credit challenges.
FHA loans are the most popular choice for Nevada first-time buyers. Backed by the Federal Housing Administration, these loans offer low down payments and flexible credit requirements.
Key Benefits: Allow gift funds for down payment, accept credit scores as low as 500 (with 10% down), and more lenient debt-to-income ratios than conventional loans.
Nevada veterans, active-duty military, and eligible surviving spouses can buy a home with zero down payment and no monthly mortgage insurance through VA-backed loans.
Key Benefits: No down payment required, no PMI, competitive interest rates, and more lenient credit requirements than conventional loans. Available to Nellis AFB personnel and Nevada veterans.
USDA loans offer zero down payment for homes in eligible rural and suburban areas of Nevada. Many areas outside Las Vegas and Reno qualify, including Pahrump, Minden, and Fernley.
Key Benefits: No down payment, low mortgage insurance, and competitive rates. Must meet income limits (typically under $110,000 for family of 4) and property must be in USDA-eligible area.
If you have good credit (620+), conventional loans with as little as 3% down might be your best option, offering lower overall costs than FHA in many cases.
Only 3% down payment required. Available through Fannie Mae and Freddie Mac. Must be first-time buyer or not owned home in past 3 years. 620+ credit score required.
Fannie Mae's 3% down program for low-to-moderate income buyers. Allows income from non-borrower household members. Income limits apply (typically 80% AMI).
Freddie Mac's version of low down payment financing. 3% down with flexible credit. Similar to HomeReady but from different agency. Income limits may vary by Nevada county.
Our Nevada first-time buyer specialists will analyze all available programs—state, federal, and local—to find the perfect combination for your situation. Get pre-approved and start house hunting in as little as 24 hours.
Follow these steps to access down payment assistance and first-time buyer programs in Nevada. The process typically takes 30-60 days from start to finish.
Required for Nevada Housing Division programs. Complete a HUD-approved homebuyer education course online (6-8 hours, $50-$100). The certificate is valid for 2 years and proves you understand homebuying, mortgages, and budgeting.
Connect with a lender experienced in Nevada first-time buyer programs (like us!). We'll review your income, credit, and financial situation to determine which programs you qualify for and get you pre-approved so you can house hunt with confidence.
If applying for Nevada Housing Division programs, your lender will submit a reservation request on your behalf. This locks in your down payment assistance funds while you search for a home (typically valid for 90-120 days).
Work with a real estate agent to find a home within your pre-approved price range. Your pre-approval letter shows sellers you're a serious, qualified buyer. Once you find the right home, make an offer and get into contract.
Submit your complete loan application with documentation (pay stubs, bank statements, tax returns, etc.). Your lender will order an appraisal and submit everything to underwriting for final approval. This typically takes 2-4 weeks.
Once approved, schedule your closing date. You'll sign final paperwork, your down payment assistance is disbursed, and you receive the keys to your new Nevada home. Congratulations—you're a homeowner!
Nevada Housing Division programs have limited funding allocated on a first-come, first-served basis. Funds typically run out during peak homebuying season (April-August). To maximize your chances, start the process in January-March. We can reserve funds while you search, ensuring assistance is available when you find your home.
Our first-time buyer specialists will guide you through every step—from education requirements to program selection to closing. We've helped thousands of Nevada first-time buyers maximize their benefits and achieve homeownership.
No obligation • Free consultation • Fast 24-hour pre-approval
Smart strategies to get the most out of Nevada's first-time buyer programs and increase your buying power.
Even a 20-point credit score increase can qualify you for better rates and higher assistance amounts. Pay down credit card balances below 30% utilization, dispute any errors on your credit report, and avoid opening new accounts for 6 months before applying. A 640+ score unlocks most Nevada programs; 680+ gets the best terms.
Lenders prefer DTI below 43% (though FHA allows up to 50%). Pay off small debts like credit cards or car loans to lower your DTI and qualify for larger loan amounts. For example, paying off a $300/month car payment could increase your home buying power by $60,000-$75,000. This makes expensive Nevada homes more attainable.
FHA, VA, and conventional loans all allow gift funds from family members for down payment and closing costs. Parents, grandparents, or siblings can gift money (not a loan) to help you buy. This is especially powerful when combined with down payment assistance—for example, a $5,000 family gift + $15,000 HIP grant = $20,000 total assistance. Your lender will need a signed gift letter.
Nevada Housing Division allocates new funding at the start of each fiscal year (July) and calendar year (January). Funds deplete quickly during spring/summer peak season. Apply in January-March for the best chance of securing assistance. If you miss the window, funds may not replenish until the following year. Early birds get maximum benefits.
Don't settle for one program—combine them! An FHA loan (3.5% down) + Nevada HIP grant ($15,000) + Mortgage Credit Certificate (saves $2,000/year in taxes) + City of Las Vegas assistance ($10,000) = incredibly powerful package. Many buyers mistakenly use only FHA and leave $10,000+ on the table. An experienced lender will show you all stackable options for your situation.
Don't wait until you find a home to take the required homebuyer course. Complete it early so you're ready to move fast when you find the perfect property. The certificate is valid for 2 years. This also helps you understand the entire process better, making you a more confident buyer and stronger negotiator in competitive Las Vegas and Reno markets.
Not all lenders are experienced with Nevada's complex assistance programs. Working with a specialist who handles these programs daily ensures you don't miss out on benefits and that your application is processed correctly. We've helped thousands of Nevada first-timers secure maximum assistance—our expertise means you get every dollar you're entitled to, faster closings, and fewer complications.
Schedule a free consultation with our Nevada first-time buyer team. We'll review your finances, identify every program you qualify for, and create a personalized strategy to maximize your down payment assistance and buying power.
Schedule Free ConsultationUnderstanding income limits and eligibility requirements helps you determine which Nevada programs you qualify for and how to maximize your benefits.
Note: These are approximate 2025 income limits for Nevada Housing Division programs. Limits vary by program and are updated annually. Most first-time buyer programs require household income at or below 80% of Area Median Income (AMI). Some programs allow up to 115% AMI. Income includes all household members' gross income before taxes.
Included in income calculation:
Household size includes all people who will live in the home, even if they're not on the mortgage. This affects your income limits:
Most Nevada programs define "first-time homebuyer" as someone who:
Your DTI ratio (monthly debts ÷ gross monthly income) is crucial for qualification:
Required for Nevada Housing Division programs and recommended for all first-time buyers:
To quickly assess if you qualify for Nevada first-time buyer programs, answer these questions:
If you answered favorably to these, you likely qualify. Contact us for a personalized assessment.
Our first-time buyer specialists will review your specific situation—income, credit, assets, household size—and identify every Nevada program you qualify for. Get clarity in minutes, not days.
Check Your Eligibility NowReal Nevada homebuyers who achieved homeownership using first-time buyer programs and FHA loans.
"The Nevada Housing Division DPA grant covered my entire 3.5% down payment. I only needed $4,200 for closing costs to buy my $245,000 Henderson condo. Game changer for a teacher like me!"
"My credit was 615 and I had student loans, but with FHA and the Home at Last program, I got into a Vegas home with just 3% down. My payment is less than I was paying in rent!"
"Single mom working two jobs, I didn't think I could afford a house. The Nevada Rural Housing Authority USDA loan meant zero down payment. Now my kids have a backyard in Reno!"
Real data from Nevada homebuyers who successfully used first-time buyer programs in 2024-2025
Used down payment assistance or grants
Average DPA grant/assistance received
Average days from application to closing
Approval rate for applicants we pre-qualify
Join over 2,400+ Nevada first-time buyers we've helped achieve homeownership since 2019
Each Nevada down payment assistance program has unique benefits, requirements, and funding amounts. Choose the best fit for your situation:
Yes! Many Nevada first-time buyers combine multiple assistance programs to maximize benefits and minimize out-of-pocket costs.
On a $300,000 Las Vegas home, combining programs reduces out-of-pocket to minimal closing costs only.
On a $240,000 Henderson condo, this covers 3.5% down + all closing costs with funds to spare.
Our Nevada specialists help you stack programs for maximum assistance
Navigating multiple programs, income limits, and deadlines can be overwhelming. Our Nevada first-time buyer specialists have helped hundreds of buyers maximize their benefits by strategically combining state, federal, and local programs. We'll handle the paperwork, coordinate with Nevada Housing Division, and ensure you get every dollar of assistance you're entitled to—completely free to you.