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Home is Possible for Teachers-Available December 5th

Home Is Possible For Teachers
Available December 5th

Teachers make it their life’s work to educate young minds. The Housing Division wants to help recruit and retain K-12 teachers and make our growing communities more vibrant.

Check out the program benefits and requirements.

Key Benefits:
• $10,000 in bonus money (second mortgage with 0% interest and no payments due)
• Usable for down payment and closing costs
• Forgivable after five years (if teacher stays in home as primary residence)
• Combined with a below-market fixed interest rate on the first mortgage (Hero rate currently at 3.25%)
• Statewide program

Program Requirements:
• Must be a licensed full-time K-12 public school teacher in Nevada
• Home price below $400,000
• Minimum credit score of 660
• Government insured loans only (no conventional loans)
• Teacher must live in home as primary residence
• Homebuyer education course required
• Must meet standard underwriting requirements
• One-time fee of $675 (also required to record a second mortgage)
• Funding amount available for 300 teachers, provided on a first come, first served basis

Administrator guidelines will be updated and forms will be available at the eHousingPlus website prior to the launch date.

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