Down Payment Assistance Doesn’t Just Help New Home Buyers

The struggles to secure housing in the Reno Sparks area are not limited to those who live in transitory housing.

Conventional home buyers are finding themselves hard pressed to save for a down payment, while simultaneously paying high rents and making ends meet.  In the past 6 years the median rent in the Reno Metro area has spiked from $822 per month to $1316 per month, leaving many to struggle with monthly expenses and little hope of saving for a down payment.  In addition to the increase in rents, there is a shortage of low cost rental housing as well.  According to the National Low Income Housing Coalition there are only 21 affordable rental homes available for every one hundred families that need one

A solution to this problem must be a multi-angled one.  One of the solutions I see is getting families out of rental homes that are able to afford traditional home ownership but haven’t been able to get a down payment put together to reduce demand, and hopefully prices, for rentals.  That is were you and I can help. 

There are many down payment assistance programs available nation-wide, and specifically for Nevada home seekers.  These programs offer thousands toward down payment and closing costs., managed by the Nevada Housing Division, has program information and buyer education for teachers, veterans, first time home buyers and more.  If you know someone looking to get out of a rental, let them know there are options to make their dream a reality.  If someone you know needs help navigating the resources available to help them get into a home, let them know that I am here to help.

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