Nevada Partners’ Housing Program aims not only to promote home ownership, but also to create informed home buyers who can stay in their homes. Studies show that with education, first-time home buyers have a much higher rate of success in keeping their homes or seeking help when needed. By enabling local families to overcome barriers to purchasing a home of their own, this program encourages wealth creation, a stable workforce, and a stronger community. The Housing Program has helped nearly 1,500 local families to purchase homes and has educated more than 5,100 people about the home buying process.
NPI Homebuyer Education Workshops are offered three times per month via in-person meetings and webinar presentations. The class is designed to educate homebuyers of the requirements and steps toward qualifying for a mortgage and buying a home. The class also highlights several of the homebuyer assistance programs that are available in the community. The workshop is a requirement for all clients using NPI DPA programs and participants receive a certificate of completion that is good for 12 months.
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 $22,000 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.
The City of North Las Vegas HOME Program provides first-time homebuyers down payment assistance up to $14,999 for a purchase within the City of North Las Vegas. The DPA is forgivable after five (5) years as long as the home remains the primary residence, is not sold, leased, nor refinanced for cash-out. Eligible homebuyers must contribute a minimum of $1,500 from their own funds to the purchase and have a minimum of $2,500 in savings, not including their down payment money. Administered by Nevada Partners, the purpose of the program is to expand homeownership opportunities and to provide financial assistance to income eligible households.
Pre-Purchase Counseling is delivered through a one-on-one format that 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 as homeowners. Housing counselors meet with homeowners who are interested in refinancing their mortgage, increasing their savings, raising their credit scores, and other issues related to their housing situation.
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.
Through our dedicated housing counselors, we can help you get access to homebuyer education, first time homebuyer workshops and orientations, one-on-one counseling, down payment assistance, foreclosure prevention, and much more. Click on the button linked to enroll!
The Homeowner Assistance Fund (HAF) is a free service for homeowners battling financial hardship. Qualified homeowners can receive up to $54,000 for assistance with past due mortgage payments, non-escrowed taxes, HOA fees, and homeowners’ insurance. After receiving assistance, a lien is placed on the home which is forgiven after 3 years. Eligible homeowners must have experienced a hardship related to the coronavirus COVID-19 pandemic.
Mortgage Default and Foreclosure Prevention services are provided free-of-charge to homeowners at risk of foreclosure. Housing counselors provide a review of the homeowner’s situation to reveal the options available to the homeowner. Some available options may include refinance, forbearance, repayment plans, modification, or emergency mortgage assistance.