Las Vegas Nevada News on Home is Possible Summerlin, Henderson and first time home buyers

Information from Home is Possible:

Kind of sad news actually,

Due to continued market volatility, pricing for the FHA/VA/USDA 4% DPA option has been unavailable in the market. As a result, The Nevada Housing Division will be temporarily suspending our 4% government DPA option. We understand the unavailability of this option may cause difficulty for some borrowers who were counting on the 4% DPA. With this in mind, any loans “Reserved” by January 31, 2018 will still be eligible for this option. Loans reserved beginning February 1, 2018 will not have the 4% government option. Unfortunately, we will be unable to grant exceptions to this policy.

We strongly suggest you consider offering borrowers the HFA Preferred Conventional loan product as an alternative. The majority of FHA loans will qualify for our conventional loan product which can be a more economical option for borrowers.
 
We appreciate your continued participation in our programs and ask for your patience as we continue to monitor market conditions.  We will make adjustments as needed to continue to provide the best down payment assistance programs for borrowers.

Thank you,
Penny O’Brien

Re/Max Excellence

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