58°F
weather icon Drizzle

Rural homebuyer seminar aims to educate on assistance programs

If you’re looking to buy a home in the near future but don’t know if you’ll be financially ready, a program coming to town could help ready you to take that big step.

The free Homebuyers’ Seminar put on by the Nevada Rural Housing Authority is taking place Wednesday at 5:30 p.m. at the Pahrump Community Library, 701 East Street.

The seminar will educate potential homebuyers about programs offered through the Nevada Rural Housing Authority.

The two main focuses of the event will be telling those in attendance how they can receive a free down payment toward a home, or save up to $2,000 a year with a mortgage tax credit when they buy a new home.

There’s two different programs for homebuyers offered through the Home at Last ACCESS program, one of which is a down payment assistance program.

“It provides a four percent grant to homebuyers,” Melanie Evans of the Nevada Rural Housing Authority said. “So if they’re buying a $200,000 house, they get an $8,000 grant that can be used toward their down payment and closing costs. That money they don’t have to pay back.”

There are some qualifications anyone who’s interested in the program must meet, including: having a 640 minimum credit score and meet normal Federal Housing Authority, Veterans Administration or U.S. Department of Agriculture-Rural Development underwriting requirements (minimum of 660 credit score on manufactured housing), a maximum income limit of $95,500, they must use the home as primary residence, must complete a homebuyer education class, and the home’s price must be below a maximum purchase price of $400,000.

The other homebuying program offered is a mortgage tax credit one, which is a federal income tax credit on the mortgage interest one pays on their home every year.

“Most of our home buyers get $2,000 back with that mortgage credit each year,” Evans said.

The Nevada Rural Housing Authority has been around since 1973 when an act of the state legislature created the organization whose mission was to help provide affordable housing opportunities to Nevadans living in rural parts of the state.

Although the organization has been around for 42 years, this will mark the first seminar of its kind in Pahrump. The main focus of the event will be to let those who might be hesitant to buy a home due to the initial costs know that there is help to get them started.

“Just to get the word out about our program so people know that they can use them and that they’re available,” Evans said. “Usually the biggest impact on those getting into a home is that down payment. So we feel like our programs can help get people into a home that couldn’t otherwise.”

If you have any questions call the Nevada Rural Housing Authority Southern Nevada division at 702-992-7215. You can also RSVP for the event by emailing melanie@nvrural.org.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Tonopah quilting group sews and donates face masks

Editor’s Note: This is the first in a two-part series of groups and individuals making face masks in Nye County for health care workers, first responders and others during the COVID-19 pandemic.

Sisolak expands directive mandating social distancing

Golf courses, showrooms and in-home styling services have been shut down under Gov. Steve Sisolak’s expanded social distancing directive announced Wednesday.

Pahrump Senior Center announces changes

The Pahrump Senior Center has made a few operational modifications until the facility is able to reopen, after closing its doors due to the COVID-19 virus outbreak.

Locals take part in drive-up food distribution

Scores upon scores of vehicles were lined up on Monday, April 6, as individuals and families took advantage of a one-day food distribution program at New Hope Fellowship’s Path of Hope Ministry, located at 781 West St.

Nye County prepped for COVID-19

During a special teleconference meeting of the Nye County Commission on Friday, April 3, the first held by that body since the new coronavirus struck the county, Nye County Emergency Management Director Scott Lewis kicked things off with an overview of the county’s COVID-19 response and the task force that has been assembled to lead that response.

Nevada Realtors responds to eviction moratorium

The Nevada Realtors, a professional trade association, released a statement in support of Gov. Steve Sisolak’s move to creat an eviction moratorium in Nevada.

New website will help older Nevadans deal with coronavirus

The state Aging and Disability Services Division has set up a new website to help senior Nevadans and their caregivers find resources in the face of the COVID-19 epidemic.