This is a program the city of Henderson has. If you buy a “Henderson Home” which is in the older part of the city, the city will finance you if you meet certain qualifications.
One has be of low income (varies with number of family members) and have a certain amount of assets (nothing over a specified amount, such as other real estate,) reside in Henderson for at least a year and be eligible for other social programs.
If one meets these requirements, they must have $750 for a down payment, plus $750 for closing costs, and the city will provide the lender. You also qualify for up to $30,000 in upgrades, which does not include appliances, and since this is Nevada, the insurance and taxes on the property are included in the mortgage payment.
For my situation, I can handle up to $280 for a payment, but for what I have researched so far, my payments would be less than what I pay for rent here.
It’s a win-win situation. I’ve met all of the qualifications but the $1500. And I am EVER the optimist!!
It kind of makes me want to move to Henderson and buy a qualifying house ... but it’s so hot there!
Looks like it’s about to be time to eat en nuestra casa. Meat!