Buy 18250 Alderwood $0 Down USDA & 4% Grant

Is the lack of money for a down payment and closing costs preventing you from owning your own home?

alderwoodDid you know there are down payment assistance and zero-down mortgage programs available to purchase 18250 Alderwood Court in Woodland Village? Listed by Sonia Zaryczny, Desert Diamonds Realty; 18250 Alderwood Court will qualify for  USDA and VA 100% financing.

Located in the Cold Springs Valley; 18250 Alderwood Court is a “turn-key” 1161 sq. ft. 3-bedroom, 2-bath, single-story home. This well-kept home features a nicely laid out floorplan with spacious rooms, plenty of outdoor yard space, established fruit trees with easy landscaping, RV parking and much more. The kitchen has plenty of counter space, an electric range and oven, built-in dishwasher, built-in microwave and garbage disposal. The gas forced air heat and central air conditioning will keep you comfortable throughout the year.

You will love living in Woodland Village; a master planned, family friendly community with large lots, tree lined cul-de-sacs, nicely landscaped and maintained common areas and easy access to BLM land. There are miles of lighted, safe, paved pedestrian / bicycle paths, and three family friendly public parks. The Cold Springs Family Center is dedicated to health and fitness and the Nancy Gomes Elementary School and Cold Springs Middle School are located in the heart of the community. For additional information or to schedule a tour of 18250 Alderwood Court, call Sonia Zaryczny, Desert Diamonds Realty @ 775-287-9618. Priced at only $185,000; 18250 Alderwood Court is a must see.

Home is Possible! Academy Mortgage in Reno has teamed with the Nevada Housing Division to provide 4% Non-Repayable Down Payment Assistance Grants to qualified buyers.  If your qualifying income is less than $95,500 a year, you may qualify for the Nevada Housing Division “Home is Possible” program providing a non-repayable grant equal to 4% of your loan amount. The program requires a 640 decision credit score for USDA Rural, FHA and VA programs. The 4% grant can be applied to your down payment and closing costs. Both USDA and VA programs offer 100% financing to qualified buyers.

First time buyers can combine the “Home is Possible” 4% Non-repayable grant with the Nevada Rural Housing Authority Mortgage Tax Credit (MTC) program. The MTC program helps first time buyers lower their monthly payment with a dollar for dollar federal tax credit equal to the lower of $2,000 a year or 40% or the interest paid. The cost of the MTC program is 1% of the loan amount plus a $175 processing fee. When purchasing 18250 Alderwood Court, the value or the MTC program is more than $46,000 over 30-years.

Similar homes in Cold Springs are renting for $950 a month. The above “Rent vs. Own” analysis compares owning 18250 Alderwood Court with renting a similar home.  Some of the benefits of owning your own home include building equity, the mortgage interest tax deduction, and stable payments. Renting a home similar to 18250 Alderwood Court will cost more than $56,000 over the first 5 years. In the same time period, you will build over $17,000 in equity owning 18250 Alderwood Court home based solely on principle reduction. After subtracting your equity and tax benefit, owning 18250 Alderwood Court will save you hundreds of dollars per month.  “Home is Possible” increases your buying power and save you thousands of dollars at closing.

alderwood RVO

Current Home is Possible interest rates are 4.625% for the conventional loan and 4.125% for FHA, USDA, and VA. The above illustration compares renting a similar home with purchasing 18250 Alderwood Court. by combining the Home is Possible 4% non-repayable grant program and the Home at Last first time buyer mortgage tax credit program. I’ve compared the four Home is Possible loan choices.  The Home is Possible USDA and VA programs offer 100% financing. The Home is Possible Conventional and FHA programs requires a 3% and 3.5% down payment respectively. Not only do you need less cash to close with USDA or VA, but the monthly payment is less also.  With the Home is Possible 100% USDA and VA Non-Repayable 4% Grant Programs, there is no excuse for continuing to rent.

To learn more about 18250 Alderwood Court, call Sonia Zaryczny, Desert Diamonds Realty @ 775-287-9618  or email soniazrealestate@yahoo.com. For additional information about the “Home is Possible” and MTC programs, call Doug Kaller, Academy Mortgage @ 775-828-7006 or email doug.kaller@AcademyMortgage.com  . To find out what you qualify for, please click on the orange “Pre-Qualify Now” tab at the bottom of this page. Don’t let the lack of a down payment prevent you from realizing the dream of owning your own home.

Doug Kaller

Loan Officer

Academy Mortgage

5250 South Virginia Suite 240

Reno, NV 89502

( D: (775) 828-7006 | C: (775) 250-4421

( F: (888) 449-7473 | O: (775) 825-4545

doug.kaller@AcademyMortgage.com 

www.AcademyMortgage.com/dougkaller

LO NMLS #312085 | State Lic #NV Lic#10361 | Corp Lic #2731 | Corp NMLS #3113