Lower Mortgage Rate Available for Nevada's First-Time Homebuyers

CARSON CITY, Nev. (KRNV & - The Nevada Housing Division today announced a new low mortgage rate for Nevada's first-time homebuyers. The Division is offering a dramatically low mortgage 3.50% interest rate for a 30-year fixed rate loan to qualified buyers. This new 3.50% mortgage rate became effective on December 1, 2011 with a guarantee by the Housing Division that this rate will be available through June 30, 2012. There will be a total of $69 million in lendable proceeds available for FHA or VA qualified first-time home buying borrowers. NHD's Down Payment Assistance Program assistance will remain at the loan limit of $4,500.

"We are delighted to offer this exceptionally low rate to first-time homebuyers. Combining this
3.50% rate with the Division's Down Payment Assistance Program will allow many of our state's
middle-income families - who have been struggling to stretch every dollar - to now achieve the
dream of homeownership," said Charles L. Horsey, Administrator of the Nevada Housing
e Homebuyer Program'. Or, call the Division directly