The Culinary & Bartenders Housing Partnership Down Payment Assistance program is designed to assist Culinary and Bartender Union members with up to $20,000 in assistance for down payment, closing costs and principle buy-down. To qualify, the member must be a first-time homebuyer, must work at a participating property, and must have worked over 2000 hours within the past three years. The assistance is available for a home purchase in Clark County or Nye County. Affordability guidelines apply based on household income and size. The funds borrowed are due and payable when the home is sold, vacated, leased, or refinanced for cash-out.
The WISH Down Payment Assistance program provides first-time homebuyers, at or below 80% of HUD Area Median Income (AMI), assistance to purchase a home. This program offers up to $29,000 for down payment, closing costs and principal reduction. The program provides a 4-to-1 matching grant based on the buyer’s contribution. There are no payments or interest for five (5) years. The funds borrowed will be forgiven yearly on a pro-rata basis as long as the home remains the primary residence, is not sold, leased, nor refinanced for cash-out.
Pre-Purchase Counseling is delivered through a one-on-one format and is used to determine the client’s mortgage readiness and eligibility toward DPA programs. The process helps clients identify the necessary steps to homeownership as well as the obstacles they may need to overcome. The client and housing counselor work together to create a plan of action that addresses any barriers to homeownership, such as debt, credit, savings, or work experience.
Post-Purchase Counseling services are geared toward educating clients that are homeowners. Housing Counselors meet with homeowners who are interested in refinancing their mortgage, increasing their savings, raising their credit scores, or to address other issues related to their housing situation, such as mortgage default, foreclosure, and more.
Financial Management and Credit Counseling is incorporated into our homebuyer education workshops and our pre-purchase one-on-one counseling sessions. We describe the mortgage process, the importance of budgeting and good credit management, and the need to plan for the maintenance and repairs that are a part of homeownership. NPI also provides financial literacy workshop covering such topics as using credit, managing your money, and understanding your credit history, identity theft, and advanced banking services.
