The Buy in Nye Homeownership Program — A Look Back

What Was the Buy in Nye Program?

The Buy in Nye Homeownership Program was a locally driven initiative designed to expand access to homeownership in Nye County. It provided meaningful financial support to help first-time buyers overcome common barriers such as down payments and closing costs — turning homeownership into a more attainable reality for qualified residents.

Key Benefits of the Program (Past)

• Forgivable Down Payment Assistance: Up to $30,000 in forgivable support, with no repayment required when occupancy conditions were met.
• Below-Market Interest Rates: Competitive 30-year fixed-rate loans designed to enhance long-term affordability.
• Tax Savings Potential: Eligible buyers could pair the program with a Mortgage Credit Certificate (MCC) for additional federal tax benefits.
• Local Impact: Specifically structured to strengthen homeownership opportunities within Nye County’s growing communities.

General Eligibility Criteria (Past Program)

The Buy in Nye program followed standard homebuyer eligibility requirements at the time, including:

• First-Time Homebuyer Status: Applicants had not owned a home in the previous three years.
• Residency: At least one borrower maintained a minimum six-month Nevada residency.
• Income Guidelines: Household income limits applied based on federal and regional standards.
• Homebuyer Education: Completion of an approved course was required prior to application.
• Primary Residence: The purchased home was required to serve as the buyer’s principal residence within Nye County.