BATTLE MOUNTAIN - The Nevada Rural Housing Authority (NRHA) is offering a program with new opportunities to rural communities across Nevada, including Lander County residents.
The Home At Last program is aimed toward helping renters become home owners, said C.J. Manthe, deputy director for the NRHA.
"It's really good for the communities," said Manthe. "It helps them become more stable."
Manthe said the program has a positive economic impact to communities by providing jobs and utilizing real estate professionals.
The original Home At Last program was started in 2006 and has helped six Lander County families, said Manthe. The new Home At Last program kicked off about a month ago and offers new terms and a lower interest rate.
"I think it is a good program because it has super low mortgage rates and it provides much needed down payment assistance for working families," said Manthe.
The Home At Last program is aimed toward helping first-time homebuyers and veterans, said Manthe. The NRHA mainly assists all Nevadans except those who live in Reno or Las Vegas. The program serves all 17 of Nevada's counties. It serves the 15 rural counties plus the rural areas of Washoe and Clark counties, said Manthe.
Home At Last is available to residents of rural cities or towns such as Battle Mountain, Austin, Kingston, Carson City, Dayton, Mesquite, Pahrump and Sparks.
There are two Home At Last programs. Home At Last Plus provides a free cash down payment grant equal to 3 percent of the loan amount plus a mortgage rate of 3.85 percent fixed for 30 years through a network of approved lenders.
Home At Last MCC is a mortgage credit certificate (MCC) program that enables families to lock in significant federal income tax savings. On average, the families save $1,500 to $2,000 a year and the savings continue year after year for the life of the mortgage based upon the mortgage interest paid, said Manthe.
The income limits to qualify for the programs are for a family of two or less, they have to earn $67,078 or less and a family of three or more can earn up to $77,140.
Funds for the program are limited so Manthe urged those who are interested to contact her office as soon as possible. Manthe said $8 million of mortgage money is available to Nevada residents.
Lander County residents are served through the main Carson City office, said Manthe. Those who are interested in the program can e-mail homeatlast@nvrural.org or call (775) 887-1794. More information is available at the NHRA Web site at www.nvrural.org.
Those who qualify for the Home At Last program are required to take homebuyer education courses either online or in person to encourage responsible home ownership, said Manthe.
In 1973, the NRHA was created to address the rural housing need. Working with a consortium of public and private partners, including state and federal housing agencies and local community service groups, the NRHA administers affordable housing programs across the state, enhancing the quality of life throughout rural Nevada.
"We strive to come up with creative and innovative housing solutions for each Nevada community," said Manthe.
The main office of NRHA is located in Carson City, with representatives located in Churchill County, Lyon County, Elko County, Humboldt County, White Pine County, Nye County, Mineral County and Douglas County. The NRHA serves 110,000 square miles and more than 280,000 people.
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