The benefits of owning a home are no secret — it can be the key to building generational wealth and gaining access to other opportunities. But the prospect of buying a home in Las Vegas can be daunting, so here are some programs that can help make home ownership affordable around Las Vegas.
The Federal Housing Administration — part of the U.S. Department of Housing and Urban Development — offers federally-insured home loans that allow lenders to offer lower down payments and closing costs. The program also has a lower credit score requirement, which makes it one of the best options for someone buying their first home.
✅ Basic FHA Loan Requirements
- Minimum FICO score of 580
- Down payment as low as 3.5%
- 43% or lower debt-to-income ratio
The HUD website also has great homeownership resources specific to Nevada.
‘Home is Possible’ Program
The program is part of the Nevada Housing Division and offers financial assistance to lower income home buyers across the state. Perhaps the most attractive benefit of this option is that the amount you’re approved for can be forgiven after a certain amount of time. You also do not have to pay back the funds if you stay in the home you purchase for the entirety of the mortgage term.
The program also offers specific benefits for first-time home buyers and teachers.
Nevada Rural Housing offers assistance and even more flexibility for those purchasing homes in areas with a population of 150,000 or less. You’d be surprised at how many places around Clark County fit the requirements — parts of Enterprise, Summerlin, and Whitney.
🔎 Check out the address map tool to find eligible homes.
Assistance for Hospitality Workers
The Nevada Partners & Culinary and Bartenders Housing Partnership offers up to $20,000 in down payment assistance to service industry workers who meet certain requirements.
Check the program flyer — available in English and Spanish — to see if you qualify.
Ready to learn more? City Cast Las Vegas podcast co-host Sarah Lohman spoke to Nia Girma from the Nevada Housing Division about her experience with the Home Is Possible program, and how you can get free home appliances from the state.
