Buying in Wingfield Springs with a 4% Grant

MOVE-IN READY WINGFIELD SPRINGS HOME!!!!

windswept virtual tour

Did you know there are down payment assistance  programs available to purchase 7275 Windswept Loop  in Wingfield Springs? Listed by Juanita Hluchan, REALTOR®, Coldwell Banker Select in Reno; 7275 Windswept Loop is the home you have been looking for.

Located in a gated community, 7275 Windswept Loop is a “move-in ready” 2575 sq. ft.  4-bedroom, 3.5-bath two-story home with all of the features you’ve been looking for. It features a low maintenance stucco exterior and a tile roof. You will fall in love with the kitchen with its granite slab counter tops and raised panel wood cabinets. Included are a gas range and double oven, built-in dishwasher, built-in microwave, and garbage disposal. There is plenty of counter space. The island counter has a stainless steel sink and breakfast bar. There is also a convenient pantry.

The master suite features high ceilings with ceiling fan. There is a separate sitting room /office; plus master bath with a jetted garden tub; ceramic tile counter top; and double sinks. 7275 Windswept Loop has an appealing open floor plan with combined living and dining rooms. Your family will gather in the spacious great 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.  The separate laundry room has plenty of cabinet space.

Relax and barbecue on the patio. The low maintenance yard is equipped with automatic sprinklers and drip system. For additional information or to schedule a tour of 7275 Windswept Loop, call Juanita Hluchan, Coldwell Banker Select Real Estate @ 775-200-5262. Priced at only $290,000, 7275 Windswept Loop 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 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 MCC program is 1% of the loan amount plus a $175 processing fee. Based on 100% USDA or VA financing, the  value or the MCC program is more than $50,000 over 30-years.

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The above “Rent vs. Own” analysis compares 7275 Windswept Loop with renting a similar home for $1,900 a month with purchasing with the “Home is Possible” 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 $118,600 over the first 5 years. In the same time period, you will build over $23,000 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 Juanita Hluchan, REALTOR®, Coldwell Banker Select at 775-200-5162 or email juanita.hluchan@cbselectre.com . For additional information about the “Home is Possible” and MCC 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