Nevada First-Time Home Buyer Programs of 2021

The Nevada Housing Division offers several loan programs to help first-time home buyers become homeowners in the Silver State.

If you haven't owned a home in the past three years, you may qualify as a first-time home buyer. The Nevada Housing Division offers homebuying programs for repeat buyers, active-duty military and veterans, too.

National first-time home buyer programs to consider

With these national programs, home buyers in Nevada and elsewhere can get financing with low down payments, which are crucial for many first-timers.

Conventional mortgage

Best for:

Low down payments, limited mortgage insurance premiums

What you need to know:

A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. Unlike FHA loans, conventional loans allow borrowers to eventually cancel their mortgage insurance or avoid mortgage insurance altogether if they put at least 20% down.

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