Nevada’s four leading down payment assistance programs can cover anywhere from 4% of your loan amount up to $25,000 in cash toward your home purchase. According to the Nevada Housing Division, over 60,000 households have used the Home Is Possible program alone since 2014, making these initiatives among the most impactful pathways to ownership in the state.
Key Takeaways
- Nevada buyers can stack programs – combining Home Is Possible with Culinary Union funds, for example, to reach $20,000+ in total assistance
- The Home Is Possible program has helped more than 60,000 Nevada families since 2014, per the Nevada Housing Division
- A minimum FICO score of 580 qualifies for the NADA/Chenoa Fund; most other programs require 620-640
- Clark County purchase price limit for Home Is Possible sits at roughly $504,000 (updated annually)
- You still need earnest money upfront – typically $1,000-$3,000 – even with 100% financing programs
Choosing the wrong program can cost you thousands in unnecessary interest or disqualify you before you start. This guide breaks down each of the four top Nevada DPA programs by eligibility, assistance amount, repayment terms, and honest ratings drawn from real transaction experience.
What Is the Home Is Possible Program and Who Qualifies?
Nevada Housing Division’s flagship program provides interest-free down payment assistance equal to up to 4% of your loan amount, forgivable after three years. With a minimum 640 FICO score and Clark County income limits of $89,734 (two or fewer people) or $103,195 (three or more), it’s the broadest-reach DPA in the state, according to the Nevada Housing Division.
The Home Is Possible Program launched in September 2014 and has become the default starting point for most Nevada first-time buyers. Its mechanics are straightforward:
- Assistance arrives as a “silent second” mortgage – no monthly payments required
- After three years of owner-occupancy, the second mortgage converts to a grant and disappears
- The first mortgage carries a competitive 30-year fixed rate set by Nevada Housing Division at market-rate intervals
- Clark County maximum purchase price: approximately $504,000 (verify current limits with your lender before writing an offer)
Eligibility snapshot:
| Requirement | Home Is Possible |
|---|---|
| Minimum FICO | 640 |
| First-time buyer required? | Yes (not owned in 3 years) |
| Income limit (Clark Co., 2 persons) | $89,734 |
| Income limit (Clark Co., 3+ persons) | $103,195 |
| Max purchase price (Clark Co.) | ~$504,000 |
| Repayment | Forgiven after 3 years |
Why it earns 5 stars: The combination of a 0% interest silent second, short three-year forgiveness window, and broad credit accessibility makes this the most cost-effective Nevada DPA for buyers who qualify. The rate on the first mortgage is competitive rather than punitive.
Citation: The Nevada Housing Division reports that since 2014, Home Is Possible has provided over $625 million in down payment assistance to Nevada homebuyers. The program is continuously funded through bond issuance, making it reliably available year-round. Source: Nevada Housing Division Annual Report.
For a deeper look at how this program pairs with specific loan types, see our complete down payment assistance guide. Explore further in our hud section 184 loan. Explore further in our homebuyer grant program.
How Does the Culinary Union Housing Fund Work for Las Vegas Buyers?
The Culinary Union Housing Fund provides up to $20,000 in down payment and closing cost assistance to union members who have logged at least 2,000 hours of service over three years. Established through collective bargaining, the fund has distributed over $12.5 million in assistance since inception, according to the Culinary Workers Union Local 226.
This program operates differently than state-administered DPA – it is employer-union administered, which creates both unique advantages and friction points.
Strengths:
- $20,000 is among the highest flat-dollar assistance amounts available in Nevada
- Combines with FHA (minimum 580 FICO) and conventional loans (minimum 620 FICO)
- Can be stacked with Home Is Possible for total assistance above $20,000
- Includes homebuyer education and counseling at no charge
Friction points:
- Multi-step pre-approval: face-to-face interview, homebuyer education, lender coordination, and union approval – each a separate gate
- Program counselors are not licensed mortgage officers, which has historically created DTI calculation discrepancies between union approval and lender approval
- 2,000-hour threshold excludes employees in their first two years
- Response times from program administrators can extend closing timelines
Honest rating: 3 out of 5. The $20,000 ceiling is compelling, especially stacked with Home Is Possible. But the cumbersome multi-step process and communication gaps between program counselors and lenders mean you need a coordinator who has navigated this program before. A skilled buyer’s agent dramatically reduces friction.
Citation: The Culinary Workers Union Local 226 represents more than 60,000 hospitality workers in Southern Nevada. The Housing Fund was created through the union’s contract negotiations with major Strip properties. Eligibility verification and disbursement are administered through the union hall. Source: Culinary Workers Union Local 226.
To understand how these programs interact with your credit profile, see our credit score guide for home buyers.
What Is the WISH Program and Why Does It Rarely Work in Clark County?
The Workforce Initiative Subsidy for Homeownership (WISH) program matches a buyer’s own contribution three-to-one, up to $15,000 in forgivable grant funds. The fundamental limitation: eligibility caps at 80% of Area Median Income (AMI), which in Clark County’s housing market makes qualification extremely rare for working households with enough income to support a mortgage.
WISH is offered through participating Federal Home Loan Bank member institutions, most notably Greater Nevada Mortgage in this market.
How the math works:
- Bring $5,000 to closing, receive $15,000 in WISH grant funds
- Grant is forgivable over five years (20% per year)
- No interest on the grant portion
- No monthly payment on assistance
Why it rarely closes in Las Vegas: Clark County’s 80% AMI for 2025 is approximately $58,560 for a single person and $66,960 for a two-person household, per HUD. To qualify for a mortgage on even a modest $300,000 home, most buyers need household income above these thresholds. The income cap designed to help the most vulnerable buyers simultaneously disqualifies most households that can actually service a mortgage in this market.
Rating: 1 out of 5 for practical Clark County applicability. The concept is excellent – matching grants reward buyers who have already saved. But the income ceiling has made this program nearly inaccessible for most Las Vegas buyers since approximately 2013 when home prices began their sustained rise.
Citation: WISH grants are administered through Federal Home Loan Bank of San Francisco member institutions. The 80% AMI income limit is recalculated annually by HUD. Clark County 2025 AMI figures are available at HUD’s income limits portal. Funds are limited and allocated annually.
How Does the NADA Program (Chenoa Fund) Provide 100% FHA Financing?
The NADA Program – commonly marketed as Chenoa Fund and operated by CBC Mortgage Agency – provides a second mortgage equal to the FHA-required 3.5% down payment, effectively enabling 100% purchase financing. The minimum FICO score is 580, following FHA guidelines. The second mortgage carries either a 0% repayable or 3.5% interest rate depending on borrower income and program tier.
This program is the go-to option for buyers who do not qualify for Home Is Possible due to credit score or debt-to-income constraints.
Program mechanics:
| Feature | NADA / Chenoa Fund |
|---|---|
| Second mortgage amount | 3.5% of purchase price |
| Second mortgage rate | 0% (repayable) or 3.5% |
| Minimum FICO | 580 |
| Income limit | None (standard FHA limits apply) |
| Repayment | Repayable (not forgiven) OR forgiven after 36 months at 0% income tier |
| Stacks with Home Is Possible? | No – both cover the same 3.5% position |
The interest rate trade-off: Financing 100% loan-to-value triggers Loan Level Price Adjustments (LLPA) on the FHA first mortgage. Combined with the second mortgage rate, total borrowing costs are higher than a standard FHA loan with a saved down payment. Buyers entering this program should budget for monthly payments roughly $75-$150 above what an equivalent loan with a 3.5% down payment would carry.
Rating: 4 out of 5. For buyers who qualify for Home Is Possible, that program is superior on cost. But the NADA program fills a genuine gap for buyers with 580+ FICO scores who have not yet saved 3.5% and don’t meet the income or credit requirements of other programs.
Citation: CBC Mortgage Agency, which administers the Chenoa Fund, is a federally chartered housing agency. The program is available in all 50 states through FHA-approved lenders. Program guidelines and rate sheets are updated regularly at chenoafund.org. As of 2026, the fund has assisted over 50,000 borrowers nationally.
For details on how Chenoa Fund pairs with FHA loan requirements, see our CBC Mortgage Chenoa Fund complete guide.
How Do You Choose the Right Nevada DPA Program?
The right program depends on three variables: your FICO score, your household income, and whether you are a union member. Use this decision tree:
Start with Home Is Possible if:
- FICO is 640 or above
- Household income is under $89,734 (2 persons) or $103,195 (3+ persons) in Clark County
- You are a first-time buyer (no ownership in last 3 years)
Add Culinary Union Housing Fund if:
- You meet Home Is Possible criteria AND
- You are a Culinary Workers Union member with 2,000+ qualifying hours
Use NADA/Chenoa Fund if:
- FICO is 580-639 (below Home Is Possible threshold)
- OR household income exceeds Home Is Possible limits
- AND you have not saved the 3.5% down payment
Consider WISH only if:
- Household income is at or below 80% AMI
- AND you have at least $5,000 saved to bring to closing as a match
Most Las Vegas first-time buyers will land in the Home Is Possible category. Buyers with credit challenges or incomes above program limits will find NADA/Chenoa Fund the most accessible path.
Understanding your closing costs before selecting a program matters – assistance that covers down payment but leaves you short on closing costs does not solve the problem.
What Does the Application Process Look Like?
Each program uses a different lender channel, which affects how you start the process.
Home Is Possible: Apply through any Nevada Housing Division-approved lender. Most major Las Vegas mortgage companies participate. Start with a lender pre-approval, which simultaneously determines Home Is Possible eligibility.
Culinary Union Housing Fund: Start with the union hall to verify your hours and get a program eligibility letter. Then proceed to an approved lender. The union counseling step must happen before lender pre-approval, not after.
NADA/Chenoa Fund: Apply through any FHA-approved lender that carries the Chenoa Fund product. Not all lenders offer it – confirm before starting the application.
WISH Program: Contact Greater Nevada Mortgage or another participating FHLB member institution. Confirm fund availability before beginning, as WISH grants are allocated annually and may be exhausted.
Your buyer’s agent agreement should be in place before making offers – some sellers negotiate assistance contributions into the deal structure, and an experienced agent coordinates this alongside DPA program requirements.
Understanding your debt-to-income ratio before applying will tell you which programs are realistic for your financial profile and prevent wasted effort on programs where DTI will disqualify you.
Nevada DPA Programs: Full Comparison Table
| Program | Max Assistance | Min FICO | Income Limit | Repayment | Rating |
|---|---|---|---|---|---|
| Home Is Possible | 4% of loan | 640 | Yes (county-based) | Forgiven at 3 years | 5/5 |
| Culinary Union Fund | $20,000 | 580 (FHA) | No | Grant (no repayment) | 3/5 |
| WISH Program | $15,000 | 640 | 80% AMI | Forgiven over 5 years | 1/5 |
| NADA / Chenoa Fund | 3.5% of price | 580 | No | Repayable or forgivable | 4/5 |
For additional context on first-time buyer programs in Nevada and assistance available in Clark County, see our dedicated Las Vegas buyer resource. For more on this topic, see our disabled homebuyer grants. For more on this topic, see our california first-time home buyer programs.
Frequently Asked Questions
Who qualifies as a first-time home buyer in Nevada? Any buyer who has not owned a primary residence within the past three years qualifies as a first-time buyer under Nevada Housing Division program definitions. This means a prior homeowner who sold and rented for three or more years can re-qualify for programs like Home Is Possible.
Can I combine Nevada DPA programs to maximize assistance? Yes – Home Is Possible and the Culinary Union Housing Fund can be stacked, because they occupy different positions in the loan structure. Home Is Possible covers part of the down payment; the Culinary Union fund can cover remaining down payment and closing costs up to its $20,000 cap.
Do Nevada down payment assistance programs require repayment? It depends on the program. Home Is Possible converts to a grant after three years of owner-occupancy – no repayment if you stay. The NADA/Chenoa Fund second mortgage is generally repayable unless the borrower qualifies for the forgivable tier based on income. WISH grants are forgiven at 20% per year over five years.
How long does it take to get approved for Nevada DPA programs? Home Is Possible and NADA/Chenoa typically add 1-3 business days to a standard mortgage timeline. The Culinary Union Housing Fund can add 2-4 weeks due to the multi-step union counseling and approval process – budget this into your offer timeline.
What happens to Nevada DPA assistance if I sell or refinance my home early? For Home Is Possible, selling or refinancing before the three-year forgiveness window typically triggers repayment of the second mortgage. For WISH, leaving the home within the five-year forgiveness period requires pro-rated repayment. Review your specific program documents with your lender before making early exit decisions.
Nevada’s four primary down payment assistance programs each serve a distinct buyer profile. Most Las Vegas first-time buyers start with Home Is Possible and graduate to the Culinary Union stack if they qualify. NADA/Chenoa provides the widest credit accessibility. WISH is theoretically strong but practically limited in Clark County’s price environment. Read more in our related guide: home is possible nevada. For more on this topic, see our 1099 loans.
Explore all down payment assistance options for Nevada, or use our complete DPA FAQ to understand how these programs fit your specific purchase scenario. Explore further in our first time home buyer assistance programs.
