Housing Programs Helping Potential Buyers - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Housing Programs Helping Potential Buyers

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It's getting harder by the day to buy a home.

Due to new regulations and mandatory down payments, many people see their dream to own slipping away, but there are some programs out there that just might help you out.

Since 2006, the Nevada Rural Housing Authority has helped more than 2,300 families. NRHA is funded through grants and tax exempt bonds. They help veterans and lower income to middle class families get a home loan. "That's why we come to work everyday," said CJ Manthe, chief financial officer for NRHA. "You should see the smiles on the faces of the home buyers when they receive the keys to their very own home. They are just delighted because many of them could not realize this dream without our help. That is one of the many obstacles families face is they don't have the down payment and that's when we come in and help them."

One program that is helping put money in homeowner's pockets is the Mortgage Credit Certificate program.

Manthe says it's the first of its kind in Nevada. MCC provides tax savings for first time home buyers as well as veterans. "What it does is it provides almost like a mortgage rebate and the mortgage interest paid by a family. Every year, the average family in our program receives an extra $2,000 back on their tax return. That's not just for one year but it's for every year in the loan as long as they stay in the house. So, for ten years they can rack up $20,000 worth of savings."

You can watch the entire interview on my weekend show Face the State.

The show airs Saturday at 3:30pm and Sunday at 6:30am and 4pm.

Written by Chris Ciarlo 

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