Buying 7591 Ambush Circle with 4% Grant

7591 Ambush Circle

Did you know that there are down payment assistance and first time buyer tax credit programs available for the purchase of 7591 Ambush Circle in Wingfield Springs? Listed by Doug Kendall, REALTOR® with Desert Diamonds Realty, 7591 Ambush Circle may be the home you have been looking for.

7591 Ambush Circle is a 1647 square foot, 4-bedroom, 2-bath single story home in a quiet Wingfield Springs neighborhood. You will love the corner location and large park like backyard, which is great for entertaining. Van Gorder Elementary school is just 2 blocks away and the buses for Shaw Middle School and Spanish Springs High stop right behind the house.

The kitchen features oak cabinets with tile countertops and the center island has pull out bins for both trash and recyclables. There is plenty of counter space and a large pantry. Included are the refrigerator, gas range and oven, built in dishwasher and microwave.

You will love 7591 Ambush Circle’s arched doorways and find wooden blinds and up and down cellular shades on the windows. All of the rooms have ceiling fans. There is a separate laundry room with plenty of cabinets and shelves. The Washer and dryer are included.

7591 Ambush Circle’s comfortable master suite features a large walk-in closet, high ceiling with fan, walk-in shower and double sinks. One of the bedrooms has French doors and could serve a s a den or office. Another has a nice size walk-in closet.

Your family will gather in the spacious living room with tall ceilings; natural gas log fireplace; and ceiling fan. The gas forced air heat and central air conditioning will keep you comfortable throughout the year.

According to the real estate website Trulia, the average selling price for homes in homes in this zip code $295,666. Priced at only $254,900 7591 Ambush Circle is a must see! For additional information or to schedule a tour of this beautiful home, call Doug Kendall, Desert Diamonds Realty @ (775) 830-1111. You will want to include 7591 Ambush Circle on your list of must see homes.

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 the FHA and VA programs and a 680 decision credit score for the Home Finance Agency Conventional loan. The 4% grant can be applied to your down payment and closing costs. FHA requires 3.5% down and the HFA Conventional loan requires 3% down. VA programs offer 100% financing to qualified buyers.

First time buyers can combine the “Home is Possible” 4% Non-repayable grant with the “Home at Last” Mortgage Tax Credit Program. The “Home at Last” Tax Credit Program helps first time buyers lower their monthly payment with a 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. Based on 100% USDA or VA financing, the value or the MTC program is more than $50,000 over 30-years.

 

Ambush

 

The above “Rent vs. Own” analysis compares 7591 Ambush Circle with renting a similar home for $1,300 a month with purchasing with the “Home is Possible” Program.The illustration also compares the the Home is Possible FHA and Conventional loans with regular FHA and Conventional loans. You will need $6,600 less cash to close with the “Home is Possible” program and your net monthly payment is considerably less due to the Mortgage Tax Credit first time buyer program.

Some of the benefits of owning your own home include building equity, mortgage interest tax deduction, and stable payments. Renting a similar home will cost you over $81,000 over the first 5 years. In the same time period, you will build over $21,000 in equity owning this home based solely on principle reduction. After subtracting your equity and tax benefit, owning this home will save you hundreds of dollars a month. With “Home is Possible,” you can own this home with little to no money out of pocket.

To learn more about this beautiful home, call Doug Kendall, REALTOR®, Desert Diamonds Realty at 775-830-1111 or email renotahoerealtor@gmail.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