State Guide

First-Time Homebuyer Programs in Nevada

Last updated: June 17, 2026

Overview

Nevada first-time homebuyer assistance is led by the Nevada Housing Division (NHD), which runs the Home Is Possible program - a 30-year fixed-rate first mortgage paired with down payment and closing cost assistance of up to 5% of the loan amount (which, on typical Las Vegas and Reno purchase prices, lands at up to roughly $25,000 in combined assistance). Home Is Possible is available statewide across all Nevada counties, including Clark County (Las Vegas) and Washoe County (Reno) - the two largest metros in the state. NHD also runs two specialty Home Is Possible variants: Home Is Possible for Heroes for qualifying veterans and active-duty military, which adds a reduced interest rate on top of standard Home Is Possible pricing, and Home Is Possible for Teachers for Nevada educators, which adds both a reduced rate and down payment assistance specifically for K-12 teachers, school counselors, school administrators, and other school-based professionals.

Down Payment Assistance Programs

NHD Home Is Possible. Nevada Housing Division's flagship 30-year fixed-rate first mortgage program, available with FHA, VA, USDA-RD, or conventional underwriting at a competitive interest rate. Home Is Possible bundles down payment and closing cost assistance of up to 5% of the loan amount, structured as a non-repayable grant or a forgivable second depending on the option selected at application. On typical Las Vegas and Reno purchase prices, the 5% assistance lands at up to roughly $25,000 - usable for down payment, closing costs, prepaid items, or some combination. Home Is Possible does not require first-time buyer status; it's available statewide across all Nevada counties and to both first-time and repeat buyers within NHD's income and purchase price limits.
Home Is Possible for Heroes. An NHD variant of Home Is Possible for qualifying veterans, active-duty military service members, members of the Reserves and National Guard, and certain surviving spouses. Home Is Possible for Heroes offers a reduced interest rate below standard Home Is Possible pricing while keeping the same up-to-5% down payment and closing cost assistance. Available with VA underwriting (which delivers 100% financing and no monthly mortgage insurance) as well as FHA, USDA-RD, or conventional. The combination of VA + Home Is Possible for Heroes + the assistance grant is one of the lowest-cost paths to ownership available in Nevada for eligible borrowers.
Home Is Possible for Teachers. An NHD variant of Home Is Possible reserved for Nevada K-12 educators - including classroom teachers, school counselors, school administrators, and other school-based professionals employed by a Nevada public or charter school. Home Is Possible for Teachers offers a reduced interest rate below standard Home Is Possible pricing plus down payment and closing cost assistance specifically structured for teachers (typically a non-repayable grant). Designed to make Las Vegas and Reno purchase prices reachable for Nevada teachers within standard NHD income and purchase price limits.

Income and Purchase Price Limits

NHD Home Is Possible income and purchase price limits apply statewide and are set at the state level rather than county-by-county. Income limits generally cap household income at roughly $115,000 to $120,000 across most of Nevada, with purchase price limits typically in the $625,000 range - both of which are designed to accommodate Las Vegas and Reno market prices. Home Is Possible for Heroes and Home Is Possible for Teachers use the same income and purchase price limits as standard Home Is Possible, with the added eligibility gate of veteran/military status or Nevada K-12 educator status. Always confirm current NHD income and purchase price limits with an NHD-approved lender or at housing.nv.gov before assuming eligibility.

Where Home Is Possible Lands in Clark and Washoe Counties

Unlike many states where the largest down payment assistance programs are run by individual cities or counties, Nevada concentrates its DPA in NHD's Home Is Possible program - which is available statewide on the same terms in Clark County (Las Vegas, Henderson, North Las Vegas, Boulder City) and Washoe County (Reno, Sparks). The up-to-5%-of-loan-amount assistance is what makes Las Vegas and Reno purchase prices reachable for first-time buyers.

Home Is Possible in Clark County (Las Vegas Metro). Home Is Possible is available across all of Clark County, including Las Vegas, Henderson, North Las Vegas, and Boulder City. On a typical Las Vegas-area purchase price, the up-to-5%-of-loan-amount assistance lands at up to roughly $25,000 in combined down payment and closing cost help. The assistance is structured as a non-repayable grant or a forgivable second depending on the option selected at application; NHD income and purchase price limits apply statewide and are set to accommodate Las Vegas-area pricing.
Home Is Possible in Washoe County (Reno Metro). Home Is Possible is available across all of Washoe County, including Reno and Sparks. On a typical Reno-area purchase price, the up-to-5%-of-loan-amount assistance lands at up to roughly $25,000 in combined down payment and closing cost help. The same NHD income, purchase price, and homebuyer education requirements apply as in Clark County - the program is administered as a single statewide product rather than as separate Las Vegas and Reno programs.

Because NHD funds Home Is Possible through bond issuances, allocation can run on cycles - confirm current availability with an NHD-approved lender before counting on a specific dollar amount in your offer. Homebuyer education must be completed before application, not after offer acceptance.

FHA Loan Requirements in Nevada

FHA loans are widely used by Nevada first-time buyers and are compatible with NHD Home Is Possible, Home Is Possible for Heroes (though VA is usually the better fit for eligible veterans), and Home Is Possible for Teachers. FHA loan limits in Nevada are higher than the standard ceiling in Clark and Washoe counties to reflect Las Vegas and Reno purchase prices.

Minimum requirements to qualify for an FHA loan in Nevada:

Credit score: 580 or higher for 3.5% down payment with standard FHA. NHD Home Is Possible typically requires 640 or higher.
Down payment: 3.5% of the purchase price with a 580+ credit score. The Home Is Possible up-to-5% assistance can fully cover this and most closing costs on typical Las Vegas and Reno purchase prices.
Debt-to-income ratio (DTI): Generally 45% or below for NHD (FHA itself allows up to 50% with compensating factors).
Employment history: Two years of consistent employment or verifiable income history.
Primary residence: FHA loans require owner occupancy - not eligible for investment properties or vacation homes.
Mortgage insurance: FHA loans require an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount, plus an annual premium of 0.45% to 1.05%.

FHA loan limits in Nevada for 2025:

FHA loan limits in Nevada are elevated above the standard ceiling in Clark County (Las Vegas metro) and Washoe County (Reno metro) to reflect higher local purchase prices. Most rural Nevada counties use the standard single-family limit. Confirm the current FHA limit for your target county at HUD.gov.

Stacking FHA, VA, or USDA with NHD Home Is Possible:

The most common structure for a Las Vegas or Reno first-time buyer is an FHA-backed Home Is Possible first mortgage with the up-to-5%-of-loan-amount assistance applied to the 3.5% down payment and remaining closing costs - which on typical purchase prices fully covers down payment and most closing costs. Eligible veterans should ask their lender about VA + Home Is Possible for Heroes, which combines VA's zero-down structure and no monthly mortgage insurance with a reduced rate and the Home Is Possible assistance grant - that's the lowest-cost path to ownership available in Nevada for eligible borrowers. Nevada K-12 educators should ask about Home Is Possible for Teachers for a reduced rate plus assistance designed specifically for teachers. An NHD-approved lender can confirm which combination applies to your eligibility, credit, and target property.

How to Apply

Check whether you need first-time buyer status - NHD Home Is Possible does not require it. The specialty Heroes and Teachers variants add their own eligibility gates (veteran/military status or Nevada K-12 educator status) but also do not require first-time buyer status.
Check your credit score - 580 is the FHA minimum for 3.5% down, and NHD typically requires 640 or higher.
Review current NHD income and purchase price limits at housing.nv.gov - limits are set statewide rather than county-by-county and are designed to accommodate Las Vegas and Reno pricing.
Decide which Home Is Possible variant fits your profile: standard Home Is Possible for typical buyers, Home Is Possible for Heroes if you're a qualifying veteran or active-duty service member (and ask your lender about pairing it with VA underwriting for zero down and no monthly MI), or Home Is Possible for Teachers if you're a Nevada K-12 educator.
Complete a HUD-approved homebuyer education course - required by NHD.
Select an NHD-approved lender - the participating lender list is published on housing.nv.gov and not all Nevada lenders offer the Home Is Possible product.
Apply through your approved lender, who will coordinate the Home Is Possible application, the assistance grant, and any specialty variant (Heroes or Teachers) simultaneously.

FAQ

How much assistance can I actually get in Las Vegas or Reno?

Home Is Possible provides up to 5% of the loan amount in down payment and closing cost assistance. On typical Las Vegas and Reno purchase prices (where loan amounts often run in the $450,000-$500,000 range for first-time buyers), the 5% assistance lands at up to roughly $25,000 in combined down payment and closing cost help - usable for down payment, closing costs, prepaid items, or some combination. Because NHD funds Home Is Possible through bond issuances, allocation can run on cycles, so confirm current availability with an NHD-approved lender before counting on a specific dollar amount in your offer.

Do I need to be a first-time buyer to use Home Is Possible?

No - NHD Home Is Possible does not require first-time buyer status, which makes it usable for both first-time buyers and move-up buyers within NHD's income and purchase price limits. The specialty Home Is Possible for Heroes and Home Is Possible for Teachers variants also do not require first-time buyer status, but they do require the specialty eligibility (veteran/military status or Nevada K-12 educator status).

Who qualifies for Home Is Possible for Heroes?

Home Is Possible for Heroes is available to qualifying veterans, active-duty military service members, members of the Reserves and National Guard, and certain surviving spouses. The reduced rate is paired with FHA, VA, USDA-RD, or conventional underwriting at the buyer's choice, but the strongest combination for most eligible borrowers is VA + Home Is Possible for Heroes - VA loans require no down payment, no monthly mortgage insurance, and have flexible credit guidelines. Heroes can also stack with the up-to-5% Home Is Possible assistance, which lets the grant go toward closing costs and prepaid items rather than a down payment.

Who qualifies for Home Is Possible for Teachers?

Home Is Possible for Teachers is reserved for Nevada K-12 educators - including classroom teachers, school counselors, school administrators, and other school-based professionals employed by a Nevada public or charter school. Standard Home Is Possible income and purchase price limits still apply, and the buyer must complete homebuyer education before application. The product offers a reduced interest rate plus down payment and closing cost assistance specifically structured for teachers - confirm with an NHD-approved lender that your role at the school qualifies.

What credit score do I need for NHD Home Is Possible?

NHD generally requires a minimum credit score of 640 for FHA, VA, USDA, and conventional loans under Home Is Possible. FHA itself allows scores as low as 580 for 3.5% down, but NHD's overlay is higher. If your score is between 580 and 639, a standard FHA loan is still available through non-NHD lenders, but you would not be eligible for Home Is Possible's below-market pricing or the up-to-5% assistance simultaneously.

How long does it take to close using Home Is Possible?

Expect 35 to 55 days. NHD Home Is Possible closings track close to standard FHA, VA, USDA, or conventional timelines because the program is administered through a single statewide product rather than a layered city/county DPA structure. The Heroes and Teachers variants do not materially extend closing timelines. Homebuyer education should be completed before you start house hunting - not after offer acceptance - to avoid pushing the timeline further.