By Tyler Thompson · Licensed Real Estate Agent · Updated October 26, 2026

Reno NV Down Payment Assistance & Homebuyer Programs

See programs you qualify for

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Reno's housing office hands homebuyers to the state, so this page lines up Nevada and FHLBank down payment assistance against a $548,300 median home.

Verified Oct. 2026

Median home value
$548,300
Census ACS 2020-2024
3% down
$16,449
Before closing costs
Closing costs
$11k–$17k
Planning estimate
Assistance paths
4 programs
Plus 6 mortgage options

Start with the program that matches the property

Reno's own homeowner page refers buyers to the Nevada Housing Division rather than a city fund. Home Is Possible pays up to 5% with no first-time rule, while its first-time version caps Washoe prices at $667,808, comfortably above the $548,300 median.

STATE

Home Is Possible Down Payment Assistance

Up to 5% of the first loan

The Nevada Housing Division's 5% second covers a full FHA down payment on a median Reno home, and past owners qualify too.

FIRST-TIME

Home Is Possible for First-Time Homebuyers

Up to 4% of the first loan

Washoe buyers without a home in three years get up to 4%, with a county income line of $119,710 for one or two people.

LENDER NETWORK

WISH Down Payment Matching Grant

Up to $32,837 (4:1 match)

Member banks of FHLBank San Francisco match a first-time buyer's savings 4 to 1, to a 2026 cap of $32,837.

Plan the cash

What buying in Reno costs

Median home value$548,300
3% down payment$16,449
Estimated closing costs$11,000–$16,500
Estimated cash before assistance$27,449–$32,949

Estimate only, not a quote. Estimated as 2% to 3% of Reno's $548,300 median: lender and title fees, Washoe County recording, appraisal, and escrow for property tax and homeowners insurance.

Keep cash help separate

Down payment assistance in Reno

WISH Down Payment Matching Grant (FHLBank San Francisco)Maximum:Up to $32,837 (4:1 match)Best fit:Savers under HUD's 80% AMI line at a member bankRepayment / limit:Grant with a retention period; Member bank funds, first come
Home Is Possible Down Payment Assistance (Nevada)Maximum:Up to 5% of the first loanBest fit:Repeat buyers and incomes up to $165,000Repayment / limit:0%, repaid at sale or refinance
Home Is Possible for First-Time Homebuyers (Nevada)Maximum:Up to 4% of the first loanBest fit:First-time Washoe buyers under the county limitRepayment / limit:0%, 30-year, never forgiven
Home Is Possible for Teachers (Nevada)Maximum:Up to $7,500Best fit:Conditional: Licensed full-time K-12 public teachersRepayment / limit:Forgiven over 5 years; Available through Dec 31, 2026

Mortgage options that may pair with assistance

These are financing routes, not additional cash awards. Eligibility and compatibility still depend on the lender and program rules.

HomeReady and Home Possible are conventional mortgages backed by Fannie Mae and Freddie Mac; FHA, VA and USDA loans are government-backed.

Make a decision

Find your best starting point

Sold a home before

Take the 5% Home Is Possible

Prior ownership does not matter for the base program, and 5% of an FHA loan at the Reno median is about 26,455 dollars.

Classroom teacher

Close before December 31

HIP for Teachers pays 7,500 dollars, forgiven at 125 dollars a month over five years, but it uses its own first mortgage instead of the 5% option.

Saving for a condo

Ask which banks offer WISH

A member bank can turn 3,000 dollars of savings into a 12,000 dollar WISH grant for a first-time buyer under HUD's 80% income line.

Property and geography checks

Home Is PossibleWhere:Statewide, Reno includedGate:640 credit (660 manufactured), price to $832,750, income to $165,000; repaid at sale
HIP First-Time HomebuyerWhere:Washoe County limits applyGate:No home owned in 3 years; price to $667,808 and income to $137,666 for 3+ people (June 15, 2026)
HIP for TeachersWhere:Statewide, Nevada K-12 public schoolsGate:Licensed full-time classroom teacher; available through December 31, 2026
FHLBank WISHWhere:Member banks in Nevada, Arizona, CaliforniaGate:First-time buyer under HUD's 80% AMI line; escrow must open within a year of enrolling

The fastest way to avoid a bad match

Check the address, property type and price cap before comparing assistance amounts.

A larger advertised benefit doesn’t help if the home or lender is outside that program’s rules.

We’ll fill in its city and state on the free eligibility check. A mailing address that says Reno isn’t always inside city limits, so confirm with the program before you make an offer.

See the math

Three realistic purchase examples

Illustrations only. Approval, availability and program combinations depend on current rules.

Repeat buyer at Reno's $548,300 median

Price$548,300
Down payment$19,191
Closing costs$13,700
Home Is Possible 5%−$26,455
Estimated gap$6,436

A 529,109 dollar FHA loan; the buyer needs a 640 score and the homebuyer course, and income under 165,000 dollars.

First-time buyer, $450,000 townhome

Price$450,000
Down payment$13,500
Closing costs$11,000
HIP First-Time Homebuyer 4%−$17,460
Estimated gap$7,040

Four percent of a 436,500 dollar conventional loan; household income must stay within Washoe's June 15, 2026 limits.

WISH saver buying a $380,000 condo

Price$380,000
Down payment$13,300
Closing costs$9,500
WISH matching grant−$12,000
Estimated gap$10,800

FHA financing on an approved condo; the buyer's own 3,000 dollars is part of the 10,800 still due at closing.

How to apply in Reno

  1. 1

    Start from Reno's homeowner resources page

    City of Reno Housing & Neighborhood Development

    Reno's homebuyer assistance page sends buyers to the Nevada Housing Division and HomeisPossibleNV.org; the city's own housing money goes to rent, deposit and repair programs.

    Reno Direct 775-334-4636 · reno.gov

  2. 2

    Finish the HIP homebuyer course

    Nevada Housing Division

    Every Home Is Possible option requires homebuyer education before closing, and the Division links its approved course from the program site.

    homeispossiblenv.org

  3. 3

    Pick a HIP lender in Northern Nevada

    Nevada Housing Division participating lenders

    Search the lender list for a Washoe office and ask it to price the 5% base program against the 4% first-time option on the same Reno address.

    775.687.2240; HIP@housing.nv.gov · homeispossiblenv.org

  4. 4

    Check Washoe's first-time limits

    Nevada Housing Division

    The county table effective June 15, 2026 lists Washoe at a $667,808 price cap and incomes of $119,710 for a one- or two-person household or $137,666 when three or more live in the home.

    homeispossiblenv.org

  5. 5

    Ask a member bank about WISH

    FHLBank San Francisco member institution

    Only a participating member enrolls a household. The Bank set aside 13 million dollars for 2026, and members may ask for a share until March 12, 2027.

    fhlbsf.com

Free eligibility check

4 assistance programs and 6 mortgage options may be available in Reno. See which ones fit you.

  • Free
  • No credit check
  • Takes 2 minutes

Are you a first-time homebuyer?

YesNoNot sure
Question 1 of 6
HouseBuyerGuides.comhousebuyerguides

Local details matter

Buying considerations in Reno

Wildfire exposure

Reno is running an AB 540 disaster recovery program for residents hit by the Bug, Fred Mountain and Hawk fires, so price homeowners insurance before you make an offer.

Condos and attached homes

Census counts only 50.1% of Reno units as detached houses and 49.8% as owner-occupied, so many lower-priced listings are condos that need FHA or lender project approval.

Modest property tax

The median Reno owner pays $2,358 a year in real estate tax, near 0.43% of the typical home's value (Census ACS 2020-2024).

Older owners can modify homes

Reno's Older Adults Home Modification Program, run by Rebuilding Together Northern Nevada, serves owners 62 and older earning no more than 80% of AMI inside city limits; call 775-395-9808 ext. 1.

If local funding isn't available

Reno runs no down payment program of its own; its homeowner page points buyers to the state instead. These state, lender-network and federal routes remain for Reno buyers.

Nevada Housing Division

Home Is Possible pays up to 5% for any qualified buyer to $165,000 in income, the first-time version up to 4% under Washoe limits, and HIP for Teachers 7,500 dollars through December 31, 2026.

FHLBank San Francisco

WISH grants match first-time buyer savings 4 to 1, to $32,837 per household, for incomes under HUD's 80% AMI line, through participating FHLBank member institutions.

Federal loans

FHA at 3.5% down, VA with no down payment for full-entitlement veterans, and the 3% down HomeReady and Home Possible loans all remain open to qualified Reno buyers.

Frequently Asked Questions

Does the City of Reno fund its own homebuyer assistance?+
No. Reno Housing & Neighborhood Development spends its money on rent and deposit help, disaster recovery and home modifications. Its homeowner resources page sends homebuyers to the Nevada Housing Division's Home Is Possible programs at HomeisPossibleNV.org, plus FHLBank San Francisco's WISH grant through member banks.
Do Washoe County's first-time limits rule out a median Reno home?+
No. The first-time Home Is Possible table effective June 15, 2026 caps Washoe purchases at $667,808, well above Reno's $548,300 median value. Income may not pass $119,710 for a household of one or two, or $137,666 for a larger household. Buyers above those lines can still use the base program, which allows $165,000 for any household size.
Is Home Is Possible money in Reno ever forgiven?+
Not on the 5% or 4% options. Both are 0% interest, 30-year deferred seconds that come due when you sell, refinance, pay off the first mortgage or move out. Only HIP for Teachers forgives its 7,500 dollars, at 125 dollars a month over five years.
With a 5% Home Is Possible second, what will a 548,300 dollar Reno home still need?+
About 6,400 dollars in this example. A 3.5% FHA down payment is 19,191 dollars and estimated closing costs run 11,000 to 16,500 dollars. Five percent of the 529,109 dollar loan is 26,455 dollars, so a buyer with closing costs near 13,700 dollars would bring roughly 6,436 dollars. Seller credits can lower that further.
Can a Washoe County teacher stack the teacher award on top of 5%?+
No. HIP for Teachers comes with its own 30-year first mortgage, so the 7,500 dollar award replaces the base program's 5% rather than adding to it. It is open through December 31, 2026 to licensed full-time K-12 public school classroom teachers. A teacher buying near the median should compare both on the same loan quote.

Buying elsewhere in Nevada? Compare all Nevada home buyer programs →

Sources

Last verified October 26, 2026.

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