First-time home buyer programs in Nevada: Home Is Possible

Who counts as a “first-time buyer” in Nevada?

For Home Is Possible for First-Time Homebuyers, the Division says you must be a first-time homebuyer, meaning you have not owned a home in the past three years. The Division’s pages list other requirements for the same program:

• a minimum credit score of 640 (660 for manufactured homes);
• a debt ratio up to 50%, depending on credit score and loan type (the Division’s rate page gives 50% at 680 or above and 45% below 680 for government loans);
• the home must be your primary residence, and you must complete a homebuyer education course.

Many Nevada programs do not require first-time status at all: Home Is Possible (the 5% option), Home Is Possible for Teachers and Worker Advantage. In HUD-approved targeted areas, the Division also says there is no first-time requirement.

Home Is Possible: the main programs

Clark County’s first-time limits come from the Division’s table effective June 15, 2026, and carry a note that certain areas within a county may have higher income limits. For targeted areas in Clark County, the Division lists income limits of $122,400 (1–2 people) and $142,800 (3 or more) and a price limit of $665,173, and it publishes a list of qualifying census tracts.

Worker Advantage buyers must not have used Home Is Possible before. The assistance can go entirely to the down payment, or part of it can buy down the interest rate.

What the assistance costs you: the rate trade-off

Down payment assistance comes with a first mortgage at the Division’s own rate. On its rate sheet dated October 13, 2026, for a first-time buyer with a 640 credit score and an FHA, VA or USDA loan:

On a $400,000 loan, 2% is $8,000 and 4% is $16,000. The larger amount comes with a rate 0.25 percentage point higher, so compare the monthly payment before you choose. Rates change; the Division updates the sheet on its Today’s Rates page. The assistance is a second mortgage that must be repaid, except for the forgivable teacher option, so it is not free money.

The Division’s FAQ gives the FHA purchase price limit for Clark County at $541,287 for a single-family home. Our guide to FHA loans explains that loan, and veterans can pair these programs with a VA loan; the Division’s Veterans page says Home Is Possible assistance can be used with VA loans.

Homebuyer education is required

Every borrower must complete a homebuyer education course and give the lender the certificate. The Division points to a free online course developed with Freddie Mac (CreditSmart), free Fannie Mae HomeView, and a list of other partners and HUD-approved agencies, some of which charge fees.

Programs in Las Vegas and Clark County

Welcome Home Community Land Trust (Clark County). The County’s Community Housing Office says the Welcome Home CLT serves low- to moderate-income first-time buyers and that it expects to open homebuyer applications in the fall of 2026. Per its requirements page:

• first-time means no home owned in the last five years;
• you must live or work in Clark County, in a household of two or more;
• income must be below 80% or 100% of area median income, depending on the home, and assets under $60,000;
• minimum credit score 640, and at least a 3% down payment, of which 3% must come from your own savings or a gift even if you use down payment assistance.

The 2026 maximum income at 100% of area median income is $78,560 for two people and $98,200 for four. Email CCCLT@ClarkCountyNV.gov for updates.

City of Las Vegas. The Housing Services page of the city’s Neighborhood Services department, read on October 13, 2026, lists home repair, rehabilitation and lead-hazard programs for residents inside city limits. It lists no down payment assistance program for buyers. Ask the department at 702.229.7444, since programs and funding change. See our page on buying a home in Las Vegas.

How to apply

Contact a Home Is Possible participating lender, which checks your eligibility, recommends the program and applies the assistance to your loan, according to the Division’s FAQ. The Division can be reached at HIP@housing.nv.gov or 800.227.4960. Apply before you sign a purchase contract. See home-buying steps and the Nevada closing costs guide for where the money goes, and Nevada home prices to compare with the limits.