Down Payment Assistance Programs in Las Vegas: Complete Guide

by Ryan Rose

Multiple down payment assistance programs help Las Vegas buyers overcome the biggest barrier to homeownership—the down payment—with grants, forgivable loans, and low-interest second mortgages that can cover 3-5% of the purchase price. This guide explains available programs and eligibility.

Nevada Housing Division Programs

Home Is Possible

What it offers: Up to 5% of loan amount for down payment and closing costs. Type: Forgivable second mortgage—forgiven after 3 years if you stay in the home. Requirements: First-time buyer OR haven't owned in 3 years (some exceptions). Income limits apply. Minimum 640 credit score. Must complete homebuyer education. Income limits: Vary by county and household size—typically $98,000-$115,000 for Clark County depending on family size.

Home Is Possible for Teachers

What it offers: Up to $7,500 toward down payment. Who qualifies: Licensed K-12 teachers employed by Nevada school district. Type: Forgivable loan—forgiven over 5 years of continued teaching. Can combine: With standard Home Is Possible for additional assistance.

Home Is Possible for Heroes

What it offers: Reduced interest rates and down payment assistance. Who qualifies: Veterans, active military, law enforcement, firefighters, EMTs, nurses, teachers. Benefit: Below-market interest rates that can save thousands over loan life.

Clark County HOME Program

What it offers: Up to $50,000 in down payment assistance (when funded). Type: Deferred loan with 0% interest—repaid when you sell, refinance, or no longer occupy. Requirements: Income at or below 80% of Area Median Income. First-time buyer. Purchase in Clark County. Note: Funding is limited—program opens and closes based on availability. Check current status with Clark County Social Services.

Federal Programs

FHA Loans

Down payment: 3.5% with 580+ credit score. Gift funds: Entire down payment can come from family gift. Trade-off: Mortgage insurance required for life of loan (unless you refinance).

VA Loans

Down payment: 0% down for eligible veterans and active military. No PMI: No monthly mortgage insurance. Funding fee: One-time fee (can be financed) varies by down payment and service history.

USDA Loans

Down payment: 0% down in eligible rural areas. Las Vegas eligibility: Limited—some far northwest and outlying areas may qualify. Check USDA eligibility maps. Income limits: Must be at or below 115% of area median income.

Lender-Specific Programs

Many lenders offer their own down payment assistance, especially for first-time buyers or specific professions. These change frequently. Examples include: Bank of America's Down Payment Grant (up to $7,500 in eligible areas), Wells Fargo's Dream. Plan. Home. closing cost credit, Chase's DreaMaker mortgage with flexible credit requirements. Ask lenders directly about current programs—they vary and change.

Eligibility Requirements Summary

The Bottom Line

Down payment assistance can make homeownership possible years sooner. Programs have specific requirements and limited funding—apply early and work with knowledgeable lenders. I connect buyers with loan officers experienced in these programs. Reach out to explore your options.

Ready to find your Las Vegas home? Call or text Ryan Rose at 702-747-5921 for personalized guidance.

Las Vegas Down Payment Assistance Programs: Frequently Asked Questions

Q1: What is the most popular down payment assistance program in Las Vegas?

The Home Is Possible program through the Nevada Housing Division is the most widely used option. It provides up to 5% of the loan amount for down payment and closing costs as a forgivable second mortgage that's forgiven after 3 years if you remain in the home. It requires a minimum 640 credit score and homebuyer education completion.

Q2: Do I have to be a first-time homebuyer to qualify for down payment assistance?

Not always. While programs like Home Is Possible and Clark County HOME require first-time buyer status, FHA and VA loans have no such restriction. For Nevada Housing Division programs, you may qualify if you haven't owned a home in the past 3 years, and some exceptions exist for specific circumstances.

Q3: How much down payment assistance can I receive in Las Vegas?

The amount varies by program. Home Is Possible offers up to 5% of the loan amount. The Clark County HOME Program provides up to $50,000 (when funded). Teachers can receive up to $7,500 through the Home Is Possible for Teachers program. Some lender-specific programs offer grants up to $7,500. Programs can sometimes be combined for maximum assistance.

Q4: What are the income limits for Las Vegas down payment assistance programs?

Income limits vary by program and household size. For Home Is Possible in Clark County, limits typically range from $98,000 to $115,000 depending on family size. The Clark County HOME Program requires income at or below 80% of Area Median Income. FHA and VA loans have no income limits, making them accessible to higher earners.

Q5: Are there special down payment assistance programs for teachers, veterans, or first responders in Las Vegas?

Yes! The Home Is Possible for Teachers program offers up to $7,500 for licensed K-12 teachers employed by Nevada school districts. The Home Is Possible for Heroes program provides reduced interest rates and down payment assistance for veterans, active military, law enforcement, firefighters, EMTs, nurses, and teachers. VA loans also offer 0% down for eligible veterans with no mortgage insurance required.

Q6: Do I have to repay down payment assistance?

It depends on the program type. Home Is Possible offers a forgivable second mortgage that's completely forgiven after 3 years of occupancy—you never repay it. The Clark County HOME Program is a deferred loan at 0% interest that must be repaid when you sell, refinance, or move out. Some programs are outright grants that never require repayment.

Q7: What credit score do I need for down payment assistance programs?

Credit requirements vary by program. Home Is Possible requires a minimum 640 credit score. FHA loans require at least 580 for 3.5% down (or 500-579 with 10% down). VA loans don't have a strict minimum but most lenders prefer 620+. Individual lender programs may have different requirements, so it's worth checking multiple options.

Q8: Is the Clark County HOME Program currently accepting applications?

The Clark County HOME Program has limited funding and opens and closes based on availability. You should check the current status directly with Clark County Social Services before planning to use this program. When available, it offers substantial assistance—up to $50,000—making it worth monitoring.

Q9: Can I use a gift from family members for my down payment in Las Vegas?

Yes, especially with FHA loans where the entire 3.5% down payment can come from a family gift. Most conventional loans also allow gift funds with proper documentation showing the source and that it's truly a gift, not a loan. This can be combined with other assistance programs depending on the lender's requirements.

Q10: Do I need to take a homebuyer education course to qualify for down payment assistance?

Most Nevada Housing Division programs, including Home Is Possible, require completion of a homebuyer education course. This is typically an online or in-person class covering budgeting, mortgage basics, and home maintenance. FHA, VA, and USDA loans don't always require education, though it's highly recommended and some lenders may require it.

Q11: Can I buy a home in Las Vegas with 0% down payment?

Yes, through VA loans (for eligible veterans and active military) or USDA loans (for eligible rural areas). However, Las Vegas has limited USDA-eligible areas—mainly far northwest and outlying areas. VA loans are the most common zero-down option for eligible service members and veterans, with no monthly mortgage insurance required.

Q12: How do I apply for down payment assistance in Las Vegas?

Start by contacting a lender experienced with down payment assistance programs, as they can guide you through available options and application processes. Complete any required homebuyer education early. Gather documentation including income verification, credit reports, and employment history. Apply early since many programs have limited funding that can run out quickly. Working with a knowledgeable real estate agent can also help you navigate the process.