Quick answer: Home Is Possible is the Nevada Housing Division's statewide homebuyer program: a 30-year mortgage paired with down payment assistance, available to eligible buyers who meet the Division's published income limits, minimum credit score, and homebuyer-education requirement. The assistance has typically been structured as a forgivable second mortgage - meaning if you stay in the home for the required period, it is not repaid. Exact caps and terms are set by the Division and change; a program-approved lender confirms the current numbers on your file.
Key takeaways
- Run by the Nevada Housing Division; used with standard FHA, VA, USDA, or conventional loans.
- Down payment help is typically a forgivable second - stay the required period and it is forgiven.
- Income limits, credit minimums, and a homebuyer education course apply; primary residences only.
- You apply through an approved lender, and current terms come from the Division, not old articles.
How the program actually works
Home Is Possible layers state assistance on top of a normal mortgage. You qualify for the underlying loan the ordinary way - credit, income, and the loan program's own rules - and the Division's assistance covers some or all of the cash a down payment would otherwise demand. Because the help typically arrives as a second mortgage forgiven over time rather than a grant with a catch, the practical effect for buyers who stay put is money they never repay.
Who is eligible?
The Division publishes the controlling numbers - household income caps, minimum credit score, purchase-price limits, and the homebuyer education requirement - and updates them periodically, which is why this article deliberately points you to housing.nv.gov rather than freezing figures that will drift. Two constants have held: the home must be your primary residence in Nevada, and you apply through a program-approved lender rather than the state directly.
How it compares with other Nevada assistance
Home Is Possible is the flagship, but it is not the only help on the table. Essential workers should also look at the Nevada Worker Advantage program, and buyers weighing their whole opening position should read our first-time buyer guide and the primer on using gift funds - assistance programs and family gifts can be complementary pieces of the same file.
One more piece of Nevada confusion is worth settling early. Freddie Mac runs a conventional mortgage called Home Possible, which sounds identical and is a completely different product from this state program. If somebody has offered you one, read how a Home Possible loan differs from Nevada's Home Is Possible before you compare the two.
Example borrower scenario
A Henderson couple qualifies for an FHA loan but has spent their savings on the move. Down payment assistance covers the gap at closing as a forgivable second; they stay well past the forgiveness period, so the assistance costs them nothing. The couple next door, planning to sell within two years, might do better with a different structure - forgiveness periods reward staying. Illustrative only; program terms are set by the Nevada Housing Division.
Wondering if Nevada assistance fits your file?
A Las Vegas loan officer can check current Home Is Possible limits against your income and credit in one conversation, and price the loan with and without assistance. No obligation.
Get your fast quoteHome Is Possible FAQ
What is the Home Is Possible program?
Home Is Possible is the Nevada Housing Division's statewide homebuyer program. It pairs a 30-year mortgage with down payment assistance, subject to the income limits, credit score minimums, and program rules the Division publishes.
Is Home Is Possible only for first-time buyers?
No. The core program has historically been open to repeat buyers as well, though companion programs and current rules vary - eligibility is set by the Nevada Housing Division's published guidelines at the time you apply.
Do I have to repay the down payment assistance?
It depends on the structure in effect when you close. Home Is Possible assistance has typically been structured as a second mortgage that is forgiven after a set period of living in the home, but the exact terms are set by the Division and your program year.
Can Home Is Possible be combined with an FHA or VA loan?
Yes - the program works alongside standard loan types including FHA, VA, USDA, and conventional. The underlying loan still has to meet its own program requirements.
How do I apply for Home Is Possible?
Through a lender approved to originate the program, not the Housing Division directly. The lender confirms current limits and terms, checks your eligibility, and structures the assistance with your loan.
Sources
- Nevada Housing Division: current program rules and limits
- CFPB: how down payment assistance programs work
Program facts intentionally deferred to the Nevada Housing Division's current publications; last reviewed July 24, 2026.
Where we lend in Northern Nevada: Home Is Possible is a statewide program, so it reaches the Reno area too. Local pages for the north: South Reno · Northwest Reno · Damonte Ranch · Double Diamond · ArrowCreek · North Valleys · Lemmon Valley · Sun Valley
