VA & Speciality Loans
VA Buyers
The U.S Department of Veteran’s Affairs offers VA Home Loans for active service members, veterans, qualifying surviving spouses and National Guard members. The loan benefit includes: a 0 downpayment, no PMI ( Private Mortgage Insurance ), and no loan limits ( as long as you qualify for the purchase price). There is a small funding fee, but in certain cases, it may also be waived. You may use your benefit multiple times, but not at the same time. In addition to the VA Home Loan, disabled veterans may apply for an Adaptive Housing Grant, to build or modify a home. This could include adding features that help make the property more accessible.
Jessica has been given the opportunity to help many veterans and active duty service members. She considers it a privilege to assist those who have served the country in the home buying process. As a way of showing her gratitude, Jessica offers $1,000 towards closing costs for VA buyers. On many occasions, she has also asked the seller to credit some towards their down-payment.
The Home is Possible Program
The Nevada Housing Division offers teachers and first time homebuyers downpayment assistance.
*This program is offered periodically and sometimes has time limits.
For Teachers -
Program Benefits ( from homeispossible.org ) :
$7,500 usable for down payment and closing costs
Forgivable after five years (if you stay in your home)
Below-market fixed interest rate 30-year loan
Statewide program
No first-time homebuyer requirement
Eligibility Requirements:
Must be a licensed full-time K-12 public school classroom teacher in Nevada
For a single borrower: qualifying income up to $105,000 / For 2 or more borrowers: qualifying income up to $135,000
Home price below $726,200 (see Agency Guidelines)
Minimum credit score of 640 for FHA / 640 for VA, USDA
Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
Teacher must live in home as primary residence
Homebuyer education course required
Must meet standard underwriting requirements
First Time Homebuyers
Program Benefits:
Down payment assistance up to 4% of total loan amount
Usable for down payment and closing costs
Forgivable after 7 years (if you stay in your home)
Attractive 30-year fixed interest rate
Statewide program
Program Requirements
Must be a first-time homebuyer (have not owned a home in the past 3 years)
Maximum purchase price & income limits by county
Minimum credit score of 640
Maximum debt ratio: 50% if 680+ credit score; 45% if less than 680 credit score
Must live in home as primary residence
Must meet standard underwriting requirements
Must complete homebuyer education course
*Income restrictions may apply.
First Responders
While there may not be a special program for First Responders and their spouses, Jessica now offers $1,000 towards your closing costs if you’re currently employed as a first responder in Las Vegas, Henderson, or throughout Southern Nevada. Paramedics, nurses, doctors, ER technicians, firefighters, police officers, and anyone employed in the medical field, would qualify for this closing cost benefit. Please call or text Jessica to see if you qualify!