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Nevada First Time Home Buyer Down Payment Assistance Program for the City of North Las Vegas Part One

Nevada first time home buyers – North Las Vegas first time home buyers down payment and mortgage assistance program Part Two

What the first time home buyer has to do to qualify for the North Las Vegas down payment and mortgage assistance:

I have written about the qualifications for first time home buyers down payment and mortgage assistance and what the first time home buyer has to do to qualify for the grant or no interest loans.

 Now, what if you don’t qualify for the assistance right away? Then you are near mortgage ready or not mortgage ready. And here is the real value of the education that you receive through the first time home buyer class and meeting with the counselors.

Near mortgage ready first time home buyers in North Las Vegas, Nevada

• Prospective first time home owner has attended the home buyer class and obtained the certificate
• Has attended at least one counseling session and has prepared a plan of action

Client has not satisfied one or more of the following criteria and is working to remedy it:

• Paying all accounts that are in collection, including medical bills
• Getting pre-approved through a participating lender
• Credit score is below 620
• Bank statements include insufficient funds charges
• Bank statements don’t show $1000 for down payment for at least 60 days or has not saved for 2 months of mortgage reserve
• The applicant has not worked in the same line of work for two years but can show stable income and employment

Not mortgage ready first time home buyers:

The applicant takes the home buyer class and meets with the housing counselor and after discussions and document reviews the housing counselor determines that the applicant can’t satisfy one or more of above conditions. For example, the applicant may not have a bank account or can’t be pre-approved through a certified lender due to bad credit. At this time, the housing counselor will help to prepare an action plan or road map to becoming mortgage ready and then, a first time home owner in North Las Vegas.

Related web-site pages: Nevada First time home buyer’s down payment and mortgage assistance programs, Las Vegas residential market news, getting the best real estate deal , Las Vegas homes, condos and commercial real estate