CASH is king! That would summarize the one thing everybody around the globe has learned or relearned over the last year.  Does that mean banks and lending are going away, of course not. It does mean, more than ever we must learn how to allocate scarce dollars, use credit, plan our finances and of course manage debt. 

Nevada Fair Housing Center has assisted consumers with these issues since 2001.  NFHC ensures that clients can access government regulated financial instructions and that you understand how they work.

NFHC Services Include:

• Money management  and other financial planning  tools

• Credit and debt management (building and maintaining a strong credit history)

• Banking, checking and savings accounts – what you should know

• Failure to management money – what now?

• Matched Savings Accounts – Creating Assets*

• Down Payment Assistance*

• Information and assistance with protection against identity theft

Asset Development - Individual Development Accounts (IDA)
A primary financial goal for every consumer should be creating and maintaining a savings account.  But what if you have difficulty getting started or you are unable to open an account because of past history? There is help.  Individual Development Accounts* (IDA) are matched savings accounts for specific goals. 

For example, a consumer saving for homeownership could receive a 3:1 matching subsidy.  At a minimum, participants must (1) save for a minimum of 10 months; (2) successfully complete a money management education program; (3) have verifiable income and (6) save $25.00 a month minimum.  For more information, please contact our office.

Down Payment Assistance
For consumers that have not owned a property in the last two years, NFHC administers the WISH mortgage assistance program.  To be eligible, you must contribute a minimum of at least 1/3 of the purchase price from your own funds, complete homebuyer counseling and participant in a mortgage assistance program.  NFHC will provide a 3:1 match up to $15,000 per household based on need.

Loan Packaging
Many mainstream participating retail lenders voluntarily participate in various voluntary government and/or special programs for first time home buyers.  NFHC facilitates the purchase process for participants through front end homeownership services.  NFHC collects documents and completes the following loan packaging tasks:

1. Verification of employment

2. Completion of 1003

3. Tax returns (last two years)

4. Review of pre-qualification scenario

5. Final credit report review

6. Source of funds verification (for closing)