Launchpad Homeownership Program

Greater Nevada Mortgage is proud to offer qualifying first-time homebuyers access to state down payment assistance through the Launchpad Homeownership Program by Nevada Rural Housing to help put affordable homeownership within reach for more families and individuals in rural communities throughout the Silver State. Don’t delay because funds from this program are limited!

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Nevada Rural Housing Launchpad Homeownership Program

We’re here to help you meet your homeownership goals! We also prioritize speed for clients, with an average turnaround of only 21 days from application completion to ready-to-close for purchase loans!¹

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Let’s Get You Cleared for Launch!

Rising home prices shouldn’t stop households from exploring the road to homeownership. There may be a grant available to help.

Partnering to Help More People Move to Greater

The Launchpad program provides 4% down payment assistance paired with a below-market 30-year fixed rate government-backed loan (FHA, VA, or USDA) at only 6.17% APR (as of Aug. 22, 2024).
Down payment assistance has a 5-year term that’s forgiven at maturity. For example, on a $400,000 home purchase, a grant of $16,000 would be applied to cover the down payment and closing costs.

Want to Know if You’re Eligible?

You must be a first-time homebuyer. Those who have had an ownership interest in a primary residence in the past three years are ineligible. This requirement is waived for those purchasing in a targeted area or are using the Qualified Veteran’s Exception.
You need a minimum credit score of 640 (or 680 for manufactured homes).
Qualifying properties include new or existing single-family one- or two-unit homes, condominiums, townhomes, modular, or manufactured homes converted to real property in a rural area with population under 150,000 within the State of Nevada. Areas not eligible: The city limits of Reno, Las Vegas, North Las Vegas, and Henderson, and the unincorporated township limits of Enterprise, Paradise, Spring Valley, and Sunrise Manor.
The property must be your primary residence, and you must occupy the property within 60 days after closing.
Income and purchase price limits do apply based on non-targeted and targeted areas.
Debt-to-income ratio limits do apply and depend on the loan type and your credit score.
You must successfully complete homebuyer education.

If you’d like to learn more about the Launchpad Homeownership Program or other down payment assistance programs, you can contact us and our lending professionals will be happy to help!

With the three easy steps listed below, a Greater Nevada Mortgage consultant can walk you through the home loan process from start to finish.

Calculate What You Can Afford

See how much you can afford to borrow on your home purchase with our mortgage calculator.

Submit Your Application

It’s quick. It’s easy. It’s online. Plus, we have a mortgage documents checklist so you know what information to gather.

Let’s Chat

All your home loan questions are answered by your dedicated Mortgage Consultant and their team as you learn about what options work best for your goals.

Launchpad Homeownership Program grants are only available to qualified borrowers. Enrollment in the program does not guarantee receipt of funds. Greater Nevada Mortgage is neither affiliated with nor endorsed by Nevada Rural Housing.

¹Annual Percentage Rate (APR) is based on a loan amount of $450,000 at 80% Loan-to-Value with a credit score of 700 for conforming loans. Rates and fees are subject to change without notice. Membership with Greater Nevada Credit Union is required prior to loan funding, which is open to anyone living or working in any of Nevada’s 17 counties and members of their immediate family. Average purchase loan turnaround time is based on application completion to final approval, with all required conditions and guidelines being met awaiting the Close of Escrow date, for January 2025. This is not a guaranteed timeframe for all loan applications. Each loan transaction is different, and individual turnaround times will vary.