SPARKS, Nev. (KOLO) For veterans like Lexi and Raymond Rosado, purchasing a home in Northern Nevada did not seem possible. That is, until they learned of the Home is Possible for Heroes Program provided through the Nevada Housing Division. The program helps veterans and active-duty military secure a low interest rate and help with the down payment on a new home.
"It's a wonderful program and just a dream come true," the Rosados say. "To have it so quick and be so close to family, everything is just amazing."
The Rosados learned about the program just three months ago after speaking with a friend at Costco. Now, they're living in the 1,000th home provided through the program.
Governor Brian Sandoval says programs like this one make a big difference in this tough housing market.
"It enables and allows our veterans to be able to come into a home without a down payment, and that obviously makes it affordable," Sandoval says. "So again, it's for active duty or veterans and individuals who probably wouldn't be able to afford a home."
CJ Manth is the Director of Business and Industry for the state of Nevada, and says the biggest problem right now is a tight inventory, but is hopeful with 12,000 homes now under construction.
"With the 12,000 units that are active right now, about 10 percent of them have been financed by the Nevada Housing Division, so the rents will be restricted so they are available to the workforce," Manthe says.
Manthe says this program is possible through public-private partnerships with developers.
"With that, financing is provided and that helps encourage developers to build more affordable units and so that's an ongoing effort of the state," she says.
Before learning of the program, the Rosados say they weren't sure if purchasing a home was in their future.
"It's pretty wonderful and I hope that many others can take advantage of it too," Lexi says.