Middle-Income Downpayment Assistance Grants

Middle-Income Downpayment Assistance Grants is sponsored by Greater Nevada Mortgage. This program offers grants up to $50,000 to qualified middle-income families and individuals toward down payment and closing costs for homeownership.

Middle-Income Downpayment Assistance Grants | Greater Nevada Mortgage Middle-Income Downpayment Assistance Grants Greater Nevada Mortgage is proud to offer qualified first-time homebuyers access to up to $50,000 in down payment assistance through the Middle-Income Downpayment Assistance grant program.

Funds from this program are in partnership with the Federal Home Loan Bank of San Francisco (FHLBSF) and are limited and highly sought-after because they do not require the borrower to repay them. **Funds for this program have been exhausted, but other down payment assistance programs are available! Contact us to work with a Mortgage Consultant to review your options based on where you are in your journey towards buying your first home.

** First-Time Homebuyer Assistance for Middle-Income Clients Partnering to Help More People Move to Greater This program is designed to help put sustainable homeownership within reach for more families and individuals — including many who are among the most essential members of our community, like teachers, police officers, firefighters, and administrative and other service workers. Want to Know if You’re Eligible?

To be eligible for Middle-Income Downpayment Assistance grant funds, the homebuyer must: Be a first-time homebuyer , as defined by the U.S. Department of Housing and Urban Development (HUD); Income eligibility requires the homebuyer household to have earnings between 80.

01% and 140% of the HUD Defined AMI based on the purchase property address and adjusted for household size; Successfully complete a homebuyer counseling program; Purchase an eligible property as their primary residence in Arizona, California, or Nevada.

Such property may include (1) single-family homes, such as a condominium, cooperative housing, and manufactured homes, and (2) housing with two to four dwelling units with at least one owner-occupied unit; Open escrow on a home purchase transaction, with closing scheduled within 30 days prior to the Bank member requesting program funds; and Make a minimum contribution of $10,000, which may come from savings or gifted funds.

More information on this grant program can be found on the Federal Home Loan Bank of San Francisco’s website . If you’d like to learn more about Middle-Income Downpayment Assistance grants or other down payment assistance programs , contact us and our lending professionals will be happy to discuss your options! Contact GNM About Down Payment Assistance Programs How Do I Get Started on a Home Loan?

With the three easy steps listed below, a Greater Nevada Mortgage consultant can walk you through the home loan process from start to finish. Calculate What You Can Afford See how much you can afford to borrow on your home purchase with our mortgage calculator . It’s quick.

It’s easy. It’s online. Plus, we have a mortgage documents checklist so you know what information to gather.

All your home loan questions are answered by your dedicated Mortgage Consultant and their team as you learn about what options work best for your goals. Middle-Income Downpayment Assistance grants are only available to qualified borrowers. Enrollment in the Middle-Income Downpayment Assistance grant program does not guarantee receipt of funds.

Greater Nevada Mortgage is neither affiliated with nor endorsed by Federal Home Loan Bank of San Francisco.