Carson City, Nevada - Governor Brian Sandoval along with the Nevada Department of Business and Industry - Housing Division announced today that the Hero to Home Mortgage Program is officially underway in Nevada. A statewide partnership with private sector real estate agents and approved lenders, the Hero to Home program honors our military service members and veterans by making homeownership a reality.
Military service members face a challenge as the home buying environment is increasingly more competitive. Home prices have increased by 20 percent in the last year and a high percentage of investors are competing with regular homebuyers for a tight inventory of homes. The Hero to Home program is designed to honor those who have served or are serving our country with the realization of homeownership.
“This is the ‘Year of the Veteran’ in Nevada, and I can think of no better way of celebrating Flag Day than helping our heroes become homeowners,” said Governor Brian Sandoval. “This mortgage program helps build on our goal of making Nevada the most veteran-friendly state in the nation. I am pleased to thank the Nevada Housing Division and the many participating agents and lenders for their partnership and appreciation for our state’s heroes.”
The Housing Division is proud to partner with over 30 approved mortgage lenders to offer a mortgage rate of 2.75 percent fixed for a 30 year loan term. This is the lowest interest rate offered in the history of the Housing Division loan programs. Average homebuyers in this program will save over $100 per month on their mortgage based upon a $170,000 loan amount. Funds are available to help approximately 200 Nevada Military and first-time homebuyers on a first come first served basis.
Interested homebuyers need to contact an approved lender. A list of lenders is available on the Housing Division website located here. The homebuyer is not limited to using a VA loan with this program and the lender will handle the required paperwork.
Additional details, including who is eligible to qualify, are available at the Housing Division’s Hero to Home webpage found here.