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Boulder City, NV
Opinion

Program helps homebuyers in Boulder City

By Michael Mays Acting Dep. City Manager and Community Development Director
September 11, 2025 - 5:02 pm
 

Owning a home is part of the American Dream. Unfortunately, the steep rise in rental rates and increasing costs for goods and services have left many home buyers struggling to save enough for a down payment.

Several Nevada Rural Housing programs are available to assist Boulder City homebuyers.

When you think rural, you may not immediately think Boulder City. According to several state guidelines, Boulder City is indeed a rural community. The Nevada Rural Housing programs are available in communities with less than 150,000 residents (Boulder City is approximately 15,000).

Launchpad is designed to deliver below-market rate assistance to help lenders and their borrowers make affordable, rural home ownership happen. Launchpad for first-time home buyers provides 2% and 4%- down payment assistance options; 3% and 5% down payment assistance; 30-year fixed-rate government loans (FHA, VA, USDA-RD) and conventional loans (Fannie Mae and Freddie Mac).

Since the start of its Home at Last program in 2006, the Nevada Rural Housing Authority has closed 25 down-payment-assistance loans in Boulder City for a total of $5 million. Statewide, more than 11,000 Nevada families have achieved their dreams of being Home at Last. The program provides “customized” assistance options to help more Nevadans become homeowners.

The program offers down payment assistance of up 5-percent for each loan. The assistance is provided in the form of a 3-year second mortgage that is completely forgiven after living in the home as a primary residence for three years. There is no interest and there are no payments on the down payment assistance provided. You do not need to be a first-time homebuyer to qualify, there are no asset limits and no purchase price limits.

The Mortgage Credit Certificate (MCC) program provides eligible first-time homebuyers and qualified veterans with an annual federal income tax credit equal up to 20-percent of the mortgage interest paid. For qualified borrowers, the MCC can be added to the first mortgage loan, whether or not another assistance program is being used. Income and purchase price limits apply, and borrowers must meet all loan underwriting requirements for the mortgage being obtained to purchase a primary residence. The MCC is only available at the time the home is purchased.

Are you interested, but not sure what program could help you become a homeowner? Find eligibility requirements, areas served and how to connect with experts at www.nvrural.org.

When I think of the term “community development,” I want to help the entire community. Working with Nevada Rural Housing, I believe that more residents can make the dream of home ownership in Boulder City become a reality.

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