Housing Partnerships

Nevada Partners' Housing Program aims not only to promote home ownership, but also to create informed home buyers who can stay in their homes. Studies show that with education, first-time home buyers have a much higher rate of success in keeping their homes or seeking help when needed. By enabling local families to overcome barriers to purchasing a home of their own, this program encourages wealth creation, a stable workforce, and a stronger community. The Housing Program has helped nearly 475 local families to purchase homes and has educated more than 2,300 people about the home buying process.

The Housing Program has two components:

Neighborhood Stabilization Program (NSP) Homebuyers Assistance Program

Nevada Partners was selected as one of the local agencies to administer the NSP Homebuyer Assistance Program. This program helps households earning up to 120 percent of the area median income to purchase a foreclosed home in one of the identified areas of greatest need through mortgage buy down, down payment assistance and closing cost assistance. Qualified homebuyers can obtain financial assistance for these services up to a maximum of $50,000, depending on the municipality.

Nevada Partners administers the Homebuyers Assistance Program in the jurisdictions of the City of Las Vegas and Clark County. By helping people acquire foreclosed properties, the program prevents blight and abandonment and encourages community growth and stability.

In keeping with the aims of the NSP, we provide each program participant with intensive case management and housing counseling as they work towards the goal of home ownership. This process includes the development and implementation of a detailed housing purchase plan, which identifies concrete steps to facilitate each aspect of the home purchase process. During the year after home purchase, each participant is given counseling to ensure program compliance and reduce the likelihood of default. Instruction is offered in both English and Spanish.

Culinary and Bartenders Housing Partnership

This program offers various services to workers of Culinary Union Local 226 and the Bartenders Union Local 165, covering employees of participating properties that contribute, per a collective bargaining agreement, to the Housing Trust Fund. The program provides homebuyer education, pre- and post-purchase counseling, and down payment assistance to first-time home buyers in Southern Nevada and helps current home owners obtain resources when facing foreclosure. Instruction is offered in both English and Spanish.

Culinary and Bartenders Union workers who can contribute up to 3.5% of the house purchase price (towards the down payment or closing costs) may qualify for the Housing Trust Fund's Down Payment Assistance Loan of up to $10,000. The client must pay back this loan, offered as a silent second loan, when he or she sells or refinances the house. The loan, for first-time home buyers, is available on a first-come, first served basis, and funds are limited. The amount of the down payment by the client will depend on their primary loan.

Approved Lender List for Participants of the Culinary and Bartenders Housing Partnership Program

Check out the story about the program in the Las Vegas Sun:

http://www.lasvegassun.com/news/2010/feb/01/union-helping-open-doors-homeownership/