Courtesy
Greater Nevada Mortgage has opened applications for the Middle-Income Down Payment Assistance program.
The program will provide up to $10 million in funding for approved lenders to access, helping make homeownership a reality for qualified middle-income homebuyers looking to purchase their first home in eligible states.
As an approved lender for this program, GNM will accept applications from Nevada and California purchasers for as long as funds remain available. Eligible homebuyers may receive up to $50,000 toward closing costs and down payment assistance.
Grants will be awarded to eligible applicants on a first-come, first-served basis. These funds are available across multiple states.
Eligible grant applicants are those earning between 80.01% and 140% of the area median income where the property is located. Full eligibility and application requirements can be found online at https://greaternevadamortgage.com/first-time-home-buyer-programs/middle-income-downpayment-assistance-grants/.
Qualified homebuyers are encouraged to apply for a mortgage through the online application process or schedule an appointment through the Greater Nevada Mortgage website at greaternevadamortgage.com.
The program requires eligible homebuyers to contribute a minimum of $10,000 to secure a $50,000 grant.
To be eligible for these funds, applicants must be a first-time homebuyer defined by the U.S. Department of Housing and Urban Development, fulfill income eligibility requirements, complete a homebuyer counseling program and purchase an eligible property in Nevada, Arizona or California as their primary residence.
GNCU is offering access to homebuyer counseling programs at no cost for those who apply through GNM.
For information, visit greaternevadamortgage.com.