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The City of Henderson's First Time Homebuyer Program helps make homebuying more affordable for low-income borrowers purchasing their first home.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

City of Henderson Neighborhood Services First Time Homebuyer Program

The City of Henderson's First Time Homebuyer Program assists low-income families to purchase their first home with zero-interest loans to help cover down payment and closing costs. 

Available Assistance
The City of Henderson's First Time Homebuyer Program provides assistance funds up to $45,000. 6% of the purchase price or $10,000 (whichever is less) goes toward the down payment and/or closing costs, and up to $35,000 is for home repairs. This comes in the form of a zero-interest, deferred loan. There are no monthly payments, but the loan must be repaid when the home is sold, transferred, or is no longer the primary residence of the borrower. The loan can also be repaid earlier without penalty.

Eligibility Requirements
To qualify for the First Time Homebuyer Program, all applicants must be first-time homebuyers who have not owned a home in the last three years. They must have lived or worked in the City of Henderson for one year prior to applying. To be considered eligible, borrowers must have a credit score of at least 640, have less than $25,000 in assets, and their annual income must fall under 80% of the Area Median Income (limits shown below). Applicants are also required to make a minimum investment of $1,500 of their own funds toward the purchase of the home, as well as complete a Homebuyer Education Program.
 
Property Guidelines
Any property purchased with Program funds must serve as the borrower’s primary residence and be located within Henderson city limits. Eligible properties can be single-family detached or attached units, condominiums, or townhomes, at or below the HUD median area sales price of $257,450 (including down payment, closing, and rehabilitation costs). The home must be owner-occupied or vacant for a minimum of 90 days prior to offering.
 
Income Limits
1-person household: $35,250    
2-person household: $40,250
3-person household: $45,300    
4-person household: $50,300
5-person household: $54,350    
6-person household: $58,350
7-person household: $62,400
8-person household: $66,400
 
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.

First-Time Home Buyer Programs in Nevada

The City of Henderson's First Time Homebuyer Program helps make homebuying more affordable for low-income borrowers purchasing their first home.

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First-time homebuyer assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

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