Homebuyers Assistance Program

Request email notification when page changes E-Notify

NEIGHBORHOOD SERVICES:
HOMEBUYER ASSISTANCE PROGRAM (HAP)

The City of North Las Vegas Neighborhood Services provides first-time homebuyer financial assistance to homebuyers using funds available under the U.S. Department of Housing and Urban Development’s HOME Investment Partnerships Program (HOME). The purpose of the program is to expand home ownership opportunities and to provide financial assistance to income eligible households by assisting them in becoming homeowners.

Homebuyer Eligibility

• Individual(s) must not have owned a home during the previous three (3) years prior to receiving funds (some exclusions may apply)
• Existing home must be on a permanent foundation
• Housing must be located within the City of North Las Vegas
• Housing is required to be compliant with state, local or model building code
• Individual(s) must be legal residents of the United States in order to receive Federal housing assistance

The City will provide a 0% interest deferred loan, not to exceed $14,999. A lien (Deed of Trust) equal to the value of the deferred loan will be placed against the property for 5 years.

LOAN AMOUNT

PERIOD OF AFFORDABILITY

< $14,999

5 years

Household income must be at or below 80 percent of the area median income level. The current Housing and Urban Development (HUD) guidelines are as follows:

FY 2014 INCOME LIMITS
(EFFECTIVE MAY 14, 2014)

HOME Investment Partnerships Program
Homebuyer Assistance Program (HAP)

Family Size

1

2

3

4

5

6

7

8

80% of AMI

$33,750

$38,550

$43,350

$48,150

$52,050

$55,900

$59,750

$63,600

If the homeowner transfers the property within the first 5 years of affordability, regardless of the amount of assistance received, the entire deferred loan will be deemed repayable to the City.

For more information on the Homebuyer Assistance Program, please call 702-633-1532.

Click the following link for a downloadable Homebuyer Assistance Program Guidelines