Home Is Possible and Worker Advantage Programs
Buying a Nevada home may be closer than you think. The Nevada Housing Division offers homebuyer programs designed to help qualified buyers with down payment and closing costs, including additional assistance for many of Nevada's essential workers.
Two programs worth exploring are Home Is Possible and Worker Advantage. Each has different eligibility requirements, benefits, and financing guidelines.
Two Nevada Programs to Know About
Down payment assistance is not limited to first-time homebuyers. Depending on the program, qualified repeat buyers may also be eligible.
Home Is Possible
Qualified homebuyers may receive assistance of up to 5% of the loan value to help with eligible down payment or closing costs.
- No first-time homebuyer requirement
- Available statewide
- 30-year fixed-rate financing options
- Financing may be available for manufactured homes
- Homebuyer education required
- Primary residence required
Worker Advantage
Qualified Nevada essential workers may receive $20,000 in down payment assistance through the Worker Advantage Program.
- No first-time homebuyer requirement
- Qualifying essential-worker employment required
- Minimum six months of Nevada residency
- Homebuyer education required
- Primary residence required
- Income and underwriting requirements apply
Help With Down Payment and Closing Costs
Nevada's Home Is Possible program helps qualified buyers reduce one of the biggest barriers to homeownership: the amount of cash needed upfront.
Eligible buyers may receive up to 5% of the loan value toward a qualifying down payment or closing costs.
The general Home Is Possible program does not require you to be a first-time homebuyer, which means qualified repeat buyers may also be able to participate.
Current Program Highlights
- Qualifying income up to $165,000
- Home price up to $832,750
- Minimum credit score of 640
- Minimum credit score of 660 for manufactured homes
- Homebuyer education required
- Must meet applicable underwriting requirements
- Home must be used as the buyer's primary residence
$20,000 for Qualified Nevada Essential Workers
Nevada's Worker Advantage Program helps eligible essential workers purchase a primary residence by providing $20,000 in down payment assistance.
$20,000 Assistance
Assistance is provided through a no-interest, no-payment, non-forgivable 30-year second mortgage.
Down Payment
The full assistance amount may be applied toward an eligible buyer's down payment.
Interest Rate Buydown
Funds may also be used for an eligible interest-rate buydown. Remaining funds may then be applied toward down payment or closing costs, subject to program rules.
Repeat Buyers May Qualify
Worker Advantage does not require the qualifying borrower to be a first-time homebuyer.
Nevada Residency
The qualifying borrower must meet the program's minimum six-month Nevada residency requirement.
Primary Residence
The property purchased through the program must be used as the buyer's primary residence.
Worker Advantage Essential Worker Categories
Worker Advantage includes qualifying occupations within several essential-worker categories. The exact eligible occupations are determined by current Nevada Housing Division guidelines.
Health Care
- Physicians
- Registered nurses
- Licensed practical nurses
- Nurse practitioners
- Medical assistants
- Pharmacists
- Physical therapists
- Occupational therapists
- Other qualifying health care occupations
Education
- Teachers
- School administrators
- School counselors
- School librarians
- School bus drivers
- Custodians
- Instructional coordinators
- Other qualifying education occupations
Public Safety
- Law enforcement professionals
- Firefighters
- Emergency medical personnel
- Correctional professionals
- Dispatch personnel
- Other qualifying public safety occupations
Construction
- Carpenters
- Electricians
- Plumbers
- Roofers
- Construction laborers
- Equipment operators
- Other qualifying construction occupations
Home Is Possible vs. Worker Advantage
| Feature | Home Is Possible | Worker Advantage |
|---|---|---|
| Assistance | Up to 5% of loan value | $20,000 |
| First-Time Buyer Required? | No | No |
| Employment Requirement | No specific occupation required | Qualifying essential-worker occupation required |
| Nevada Residency | Program requirements apply | Minimum six months |
| Homebuyer Education | Required | Required |
| Primary Residence | Required | Required |
| Maximum Home Price | Up to $832,750, subject to program guidelines | Up to $832,750, subject to program guidelines |
How the Process Works
Talk With an Approved Participating Lender
A Nevada Housing Division participating lender can evaluate your income, credit, employment, debt, financing options, and potential program eligibility.
Complete Homebuyer Education
Participating borrowers must complete the required homebuyer education before closing.
Determine Your Buying Budget
Work with your lender to understand your estimated purchase price, payment, cash requirements, assistance amount, and financing structure.
Search for a Nevada Home
Summit 23 Realty can help you explore homes and communities that fit your goals while your lender manages the mortgage and program eligibility requirements.
Complete Financing and Close
Your participating lender will coordinate the applicable loan, underwriting, program documentation, assistance, and closing requirements.
Nevada Down Payment Assistance FAQs
Do I have to be a first-time homebuyer?
Not necessarily. The general Home Is Possible program and Worker Advantage currently allow eligible repeat buyers.
Does Summit 23 Realty determine whether I qualify?
No. The participating lender and applicable Nevada Housing Division guidelines determine mortgage and program eligibility. Summit 23 Realty assists with the real estate portion of your home purchase.
Is Worker Advantage only for teachers?
No. Qualifying occupations include workers in health care, education, public safety, construction, and other occupations identified by the Nevada Housing Division.
Can Worker Advantage funds be used for closing costs?
The program allows funds to be applied toward the down payment or an eligible interest-rate buydown. When funds are used for a rate buydown, remaining assistance may be available for down payment or closing costs, subject to current program requirements.
Is Home Is Possible available throughout Nevada?
Yes. The general Home Is Possible program is available statewide, subject to current program, property, income, loan, and underwriting requirements.
Where should I start?
Start with an approved Nevada Housing Division participating lender. The lender can determine which program and mortgage options may fit your financial situation.
Nevada Housing Division Program Information
Assistance amounts, income limits, qualifying occupations, loan guidelines, interest rates, and program availability can change. Buyers should confirm current requirements directly with the Nevada Housing Division and an approved participating lender.
Visit Home Is PossibleCould Down Payment Assistance Help You Buy a Nevada Home?
Summit 23 Realty can help you explore Nevada homes and communities while an approved participating lender determines which financing and assistance programs may fit your situation.
Contact Summit 23 Realty Search Nevada HomesThis information is provided for general educational purposes only and is not mortgage, lending, financial, tax, legal, or investment advice. Summit 23 Realty is a real estate brokerage and is not the Nevada Housing Division or a mortgage lender. Summit 23 Realty does not determine mortgage qualification, program eligibility, assistance amounts, income calculations, interest rates, loan terms, underwriting decisions, or availability of program funds. Home Is Possible and Worker Advantage requirements, assistance amounts, qualifying occupations, income limits, home price limits, credit requirements, interest rates, loan programs, and other guidelines are subject to change. Buyers should verify current program information and eligibility directly with the Nevada Housing Division and an approved participating lender before making financial or real estate decisions.