No Down Payment? No Problem! Your Guide to DPA in Las Vegas

Owning a home with little or no money upfront is more realistic than ever, thanks to a variety of Down Payment Assistance Programs. With our expertise and partnerships with specialized lenders, we can guide you through the process and make your dream of homeownership a reality—often in just 30 days.

Understanding Down Payment Assistance (DPA)

Down Payment Assistance (DPA) programs are designed to help eligible homebuyers cover the upfront costs associated with purchasing a home, primarily the down payment and sometimes closing costs. These programs make homeownership more accessible, especially for first-time buyers or those with limited savings.

Types of Down Payment Assistance Programs

Let us help you find the perfect assistance program for you. Whether it’s grants, low-interest loans, or deferred-payment options, there’s a solution designed for your unique needs:

• Grants: This is gift money that does not need to be repaid, provided you meet the program's requirements (like occupying the home for a set period).
• Low-Interest Loans: These are second mortgage loans provided at a lower interest rate than market rates. You will have a separate monthly payment on this loan.
• Zero-Interest, Forgivable Loans: These are second mortgage loans with no interest. The loan amount may be gradually forgiven over a specific period (e.g., 3-10 years) as long as you live in the home.
• Zero-Interest, Deferred-Payment Loans: These second mortgage loans have 0% interest, and repayment is postponed until you sell, refinance, or pay off your primary mortgage.

How Much Down Payment Assistance Can You Get?

Clark County and Las Vegas area homebuyers may qualify for substantial down payment assistance. While assistance options vary greatly, benefits can range significantly, with some programs offering up to $50,000 in assistance depending on your qualifications.

General Eligibility Criteria for DPA

While each DPA program has its own detailed requirements, most include common criteria:

• First-Time Homebuyer Status: Many programs require that you have not owned a home in the past three years.
• Primary Residence: The property you purchase must be your main place of living.
• Income Limits: Most programs have income limitations based on your household size and the Area Median Income (AMI).
• Minimum Credit Score: A minimum credit score is usually required, though it varies by program.
• Homebuyer Education: Completion of an approved homebuyer education course is often mandatory.

Ready to Explore Your DPA Options?

With down payment assistance programs constantly evolving, staying informed is key. Our team has expertise in navigating the DPA options available in Las Vegas. We're here to ensure you access the best opportunities and make confident, informed decisions about your home purchase.