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Home Is Possible for Teachers (Nevada)

By Tyler Thompson · Licensed Real Estate Agent · Updated October 24, 2026

Administered by:

Nevada Housing Division

· State · Forgivable Loan

Funding status: Limited

About the Home Is Possible for Teachers (Nevada)

Home Is Possible for Teachers is a Nevada Housing Division mortgage for licensed full-time K-12 public school classroom teachers. It pairs a 30-year fixed first loan with a flat $7,500 second mortgage for down payment and closing costs, forgiven over five years. The Division has extended it in short steps since 2016, and the current guide runs it through December 31, 2026.

The borrower must hold a Nevada teaching license and work full time in a K-12 public school classroom, so administrators, counselors, substitutes and private or charter-school staff should confirm their role with the lender first. Household income can reach $165,000 for any household size in any county, using the same ceiling as standard Home Is Possible, and the program follows loan agency price limits rather than setting its own. Borrowers need a 640 middle credit score, or 660 for a manufactured home, and debt ratios top out at 50% depending on score and loan type. There is no first-time buyer rule. Every borrower must finish homebuyer education, and each borrower can use Home Is Possible help only once in a lifetime.

The $7,500 carries 0% interest and no payments, and $125 of principal is forgiven each month for 60 months. Paying off the first mortgage early, through sale or refinance, makes the unforgiven balance due. Standard Home Is Possible offers 3% or 5% of the loan instead, which is more money on most Nevada homes but never forgiven. The trade-off is rate too: HIP Teachers priced at 7.625% on government loans on October 23, 2026, versus 7.000% on the first-time program's 4% tier.

How much assistance

$7,500 for down payment and closing costs

0% interest, no-payment second mortgage; $125 of principal forgiven monthly over 5 years. Unforgiven balance due if the first mortgage is paid off within 60 months. Not subordinated for refinance or HELOC.

Eligibility

Income limits: Qualifying income up to $165,000.
Purchase price limit: $832,750
First-time buyer required: No
Credit score minimum: 640
Geographic restrictions: Statewide Nevada. Borrower must be a licensed full-time K-12 public school classroom teacher in Nevada. Paired with a HIP Teachers 30-year fixed FHA, VA, USDA or conventional first mortgage. Available through December 31, 2026. 660 credit minimum for manufactured homes.
Homebuyer education required: Yes

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How to Apply for Home Is Possible for Teachers (Nevada)

Step 1: Confirm your teaching role qualifies

The program is limited to licensed, full-time K-12 public school classroom teachers in Nevada. Have your license number and a current contract or pay stub showing full-time classroom status ready for the lender. If you teach part time, work as a long-term substitute or hold a non-classroom role, ask the lender to confirm eligibility with eHousingPlus before you pay for an appraisal.

Step 2: Watch the December 31, 2026 end date

The administrator guide updated July 16, 2026 extends the program only through December 31, 2026, and it has been renewed in short steps for years. Ask your lender how long a reservation stays valid, and plan to reserve before the end date. If the program lapses, the standard Home Is Possible 3% or 5% option remains open to teachers.

Step 3: Take the homebuyer class early

Every borrower, and any non-purchasing spouse on title, must hand the lender a completion certificate. Freddie Mac CreditSmart is free and self-paced through homeispossiblenv.org/page/buyers-education. Framework and Fannie Mae HomeView are also free. Teachers in Southern Nevada can book an in-person session with Chicanos Por La Causa at 702-207-1614 at no cost.

Step 4: Find a lender that offers HIP Teachers

Use the Find a HIP Lender tool at homeispossiblenv.org/find-lender-agent/find-lender.php. On the October 23, 2026 rate sheet, the program priced at 7.625% on FHA, VA and USDA loans and 7.500% on conventional loans. Teachers with military service can pair the $7,500 with a VA loan, which needs no down payment, and use it for closing costs instead.

Step 5: Reserve the first mortgage, then the $7,500

Unlike other Home Is Possible products, the assistance is not reserved automatically. After the lender reserves the first mortgage in the eHousingPlus portal, it must add the $7,500 second separately. Fees on the second are limited to recording costs under $75. Any amount not needed at closing is applied to principal, because the program allows no cash back.

Step 6: Close, move in and track forgiveness

You must move in within 60 days and keep the home as your primary residence. The $7,500 drops by $125 each month and reaches zero after five years. The Division will not subordinate the second for a refinance or home equity line during that time. U.S. Bank services the loans at 800-365-7772, and program staff answer at 800-227-4960.

Real Cost Example

On a $548,300 home in Reno, a teacher using an FHA loan owes the 3.5% minimum, or $19,191. The $7,500 HIP Teachers second covers about 39% of that, leaving $11,691 of the down payment for the teacher. The first mortgage is the remaining $529,109 before FHA's upfront premium is financed.

Estimated closing costs in Reno run $11,000 to $16,500 at that price. With the $7,500 applied, the teacher needs roughly $22,691 to $28,191 in total cash before seller credits. Asking the seller to cover part of closing costs is the usual way to close that gap in Washoe County.

Forgiveness runs at $125 a month. If the teacher sells after 24 months, $3,000 has been forgiven and $4,500 is repaid from the proceeds. After 60 months nothing is owed. A teacher at or below 80% of AMI could also ask a WISH member bank about FHLBank San Francisco's matching grant.

Combining With Other Programs

The $7,500 rides on the HIP Teachers first mortgage, so other help has to sit beside it. FHLBank San Francisco's WISH grant matches savings 4-to-1, up to $32,837 in 2026, for households at or below 80% of area median income through member banks. Gift funds and seller credits follow the FHA, VA, USDA or conventional rules for the first loan.

HIP Teachers cannot be combined with the Division's standard Home Is Possible or first-time program, because each borrower may use Home Is Possible assistance one time. Temporary buydowns are not allowed. Teachers weighing the products can call the Division at 702-486-7220 in Las Vegas or 775-687-2240 in Carson City to compare the $7,500 against a 4% or 5% second.

On a $548,300 Reno home, the first-time program's 4% would come to about $21,535 if the buyer qualifies under Washoe's limits, but it is never forgiven. A teacher who expects to stay five years keeps all $7,500, while one who sells in year three repays $3,000. Seller credits toward closing costs remain the simplest way to cut cash at closing with either product.

Pros and Cons

The biggest advantage is that the money disappears. The $7,500 carries 0% interest, needs no payment, and is fully forgiven after 60 months at $125 a month, unlike the Division's other seconds, which are repaid in full. The $165,000 income ceiling applies statewide and to every household size, and there is no first-time rule, so teachers who owned before can use it. VA borrowers with teaching jobs can apply the full amount to closing costs.

The biggest limitation is size: $7,500 is a fixed amount, covering only part of a 3.5% FHA down payment on a typical Reno or Henderson home. Eligibility is narrow, limited to licensed full-time public K-12 classroom teachers, and the program has an end date of December 31, 2026 that is extended only in short steps. The rate, 7.625% on government loans, sits above the first-time program. Teachers who need more cash can compare standard Home Is Possible, the first-time program, or a VA loan.

Frequently Asked Questions

Who qualifies for Nevada's Home Is Possible for Teachers?+

Only licensed full-time K-12 public school classroom teachers in Nevada qualify. Household income must be $165,000 or less, the credit score at least 640, or 660 for a manufactured home, and the home must be the teacher's primary residence. There is no first-time buyer requirement. Every borrower completes homebuyer education, and anyone who has used any Home Is Possible assistance before cannot use it again. Roles outside the classroom should be confirmed with a participating lender.

Is the $7,500 Nevada teacher assistance forgivable?+

Yes. It is a 0% interest second mortgage with no scheduled payments, and $125 of principal is forgiven each month for 60 months. After five years, nothing is owed. If the first mortgage is paid off sooner, through a sale or refinance, the unforgiven balance is due. The Nevada Housing Division will not subordinate the second for a refinance or a home equity line of credit during those five years.

When does the Nevada HIP for Teachers program end?+

On December 31, 2026, according to the Home Is Possible administrator guide updated July 16, 2026. The program began as a pilot in 2016 and has been extended in short steps many times, most recently from June 30 to December 31, 2026. A future extension is possible but not announced. Teachers should reserve the loan through a participating lender well before the end date and confirm how long the reservation lasts.

Can Nevada teachers use HIP for Teachers with a VA loan?+

Yes. The program accepts FHA, VA, USDA and conventional first mortgages, and the Home Is Possible site specifically notes it can be paired with a VA loan for teachers with military service. Because VA loans need no down payment, the $7,500 can go toward closing costs and prepaids instead. On the October 23, 2026 rate sheet, HIP Teachers priced at 7.625% on government loans and 7.500% on conventional loans.

Is HIP for Teachers better than standard Home Is Possible for a teacher?+

Yes, for teachers who stay at least five years. HIP for Teachers gives a flat $7,500 that is forgiven after five years. Standard Home Is Possible gives 3% or 5% of the loan, about $26,455 at 5% on a $529,109 Reno loan, but that money is never forgiven and comes due at sale or refinance. A teacher staying five years or more keeps the $7,500, while one needing maximum cash at closing may prefer 5%.

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