Eyeing a home in Calico Ridge but worried your down payment will slow you down? You are not alone. Many Henderson buyers with solid income and stable employment still need help bridging the upfront cash to compete. In this guide, you will see how Nevada’s “Home Is Possible” program works, when it fits Calico Ridge purchases, what to verify before you tour, and the exact steps to get a program-ready pre-approval. Let’s dive in.
What Home Is Possible offers
Home Is Possible is a Nevada Housing Division program that pairs a fixed-rate first mortgage with down payment assistance through participating lenders. The program is designed to expand access to homeownership by reducing upfront barriers and aligning underwriting with program rules. It is a state-level offering, and the most current details live on the Nevada Housing Division’s official Home Is Possible hub.
You apply through a participating lender, not directly through the state. If you qualify, the lender packages the loan with the assistance the program allows. Exact options, assistance amounts, and lender lists update periodically, so you should verify the latest information on the official hub before you make decisions.
Key eligibility to check in Clark County
Eligibility has several buckets. You will want to review all of them with your lender.
- Income limits: The program uses county-based limits that can vary by household size. Clark County limits are updated regularly and may include tiers for different program versions. Ask your lender to compare your documented income to the current Clark County limit that applies to your household.
- Purchase price limits: Each program version sets a maximum purchase price by county. Because Calico Ridge is in Henderson, your cap is the Clark County limit. Your target home must be at or below that cap at the time you lock the loan.
- Credit and underwriting: Minimum credit scores, debt-to-income ratios, reserves, and documentation standards apply. Your lender will include property taxes, insurance, and HOA dues in the monthly payment when calculating DTI, so do not overlook those items.
- Occupancy: Owner occupancy is required. Second homes and investment properties typically are not eligible.
- Property type and condition: Single-family homes generally qualify when they meet standard guidelines. Condos and townhomes may be eligible if the association meets program requirements. Some property types are excluded or require additional review.
Calico Ridge fit: when it helps
Home Is Possible can be an effective tool for Calico Ridge if your financial picture and the property align with program criteria. It is most helpful when:
- You have stable income but need help with the down payment or closing costs.
- The contract price for a Calico Ridge home fits within the Clark County purchase price limit for the program version you plan to use.
- You plan to live in the home as your primary residence and can meet the credit and DTI standards.
- HOA dues and property taxes still allow your monthly housing payment to fit the program ratios.
If those boxes check out, you can compete for a Calico Ridge property with less upfront cash while keeping a predictable fixed-rate loan.
When it may not fit
There are cases where Home Is Possible is unlikely to be the right match:
- The purchase price exceeds the program’s Clark County cap or your household-specific limit.
- You are targeting an ineligible property type, such as an investment purchase or a condo association that does not meet approval requirements.
- Your credit, income documentation, or DTI does not meet program underwriting and you do not have compensating factors.
- HOA dues or special assessments push your housing payment beyond the allowable ratios.
New construction and condo notes
Calico Ridge includes a mix of property types and ages. If you consider new construction, confirm that the builder and your lender can accommodate program timelines and documentation. Some builders set tight closing calendars, so you should confirm how assistance funds are delivered and when.
For condos and townhomes, the association may need to meet specific approval standards. Ask your lender to start the condo review early and to request any necessary questionnaires from the HOA. Early verification helps you avoid delays after you open escrow.
Your step-by-step plan
Use this short plan to reduce guesswork and get program-ready before you tour.
- Do quick price homework
- Review recent Calico Ridge sales through your agent so you know whether typical prices fall under the current Clark County cap. Focus on the property type and size you want.
- Verify program limits
- Visit the Nevada Housing Division’s official Home Is Possible hub for current income and purchase price limits, assistance options, and participating lenders. Confirm details for Clark County specifically.
- Talk to a participating lender
- Ask for a program pre-check, not just a generic pre-approval. Have the lender review your income, credit, expected HOA dues, taxes, and insurance for a Calico Ridge price point.
- Get a written pre-approval
- Request a letter that states you meet Home Is Possible criteria for a specific price range in Calico Ridge. This helps you act quickly when the right home hits the market.
- Under contract: document early
- Provide ID, pay stubs, W-2s or tax returns, bank statements, and the purchase agreement promptly. If you are buying a condo or townhome, request HOA documents and any lender-required questionnaires at the same time.
- Confirm HOA and property eligibility
- Make sure the association and the property meet the program’s requirements. Your lender and agent should coordinate on any additional items the HOA must provide.
- Close and occupy
- Review any post-closing occupancy requirements with your lender. Understand how long you must occupy the home to remain in good standing with the program.
What documentation to expect
Gather these items to speed up your pre-approval:
- Government-issued ID
- Recent pay stubs and W-2s or full tax returns if self-employed
- Bank statements and statements for assets used at closing
- Gift letters if applicable
- A realistic monthly budget that includes HOA dues, taxes, and insurance
Having these ready helps your lender issue a clean, program-aligned pre-approval before you tour Calico Ridge homes.
Smart affordability checks for Calico Ridge
Calico Ridge often includes homes with HOA dues that vary by property type and amenities. Because HOA dues count in your DTI, they directly affect the price you can qualify for. Ask your lender to run two or three scenarios that include estimated taxes, insurance, and HOA so you know your real ceiling before you submit an offer.
If you are comparing a single-family home versus a townhome, the HOA structure may differ. A slightly lower price with higher dues can result in the same or higher monthly payment. Seeing side-by-side scenarios keeps your search aligned with program rules from day one.
Common pitfalls to avoid
You can sidestep the most common roadblocks with a little prep:
- Relying on outdated limits: Income and purchase price caps update regularly. Always confirm the current numbers on the official Home Is Possible hub.
- Ignoring HOA dues: HOA dues are part of the monthly housing payment used in underwriting. Do not assume a home will qualify without running a full payment scenario.
- Assuming every lender participates: Only certain lenders offer Home Is Possible. Choose a participating lender with experience in Clark County.
- Waiting on condo approvals: If you want a condo or townhome, ask your lender to start the association review early. Late approvals can delay or derail closing.
How to make your offer stronger with the program
A strong, program-ready file can help you compete in Calico Ridge:
- Present a clean, fully documented pre-approval that references the program.
- Offer realistic timelines that match how assistance funds are delivered and when.
- Work with an agent who will request HOA documents at offer acceptance so the lender can verify eligibility without delay.
This approach signals to sellers that you have done the work and can close on schedule.
Bottom line for Calico Ridge buyers
Home Is Possible can absolutely work for Calico Ridge purchases when the home price fits Clark County limits, your income and credit align with program underwriting, and the property type is eligible. The best first step is a program-specific pre-check with a participating lender using a realistic Calico Ridge price range. From there, your search can focus on homes that meet both your lifestyle goals and the program rules.
Ready to explore Calico Ridge with a plan tailored to your budget and the current rules? Reach out to Agent House for local guidance and a smooth, program-ready path to your next home.
FAQs
What is the Home Is Possible program in Nevada?
- Home Is Possible is a Nevada Housing Division program that pairs a fixed-rate first mortgage with down payment assistance through participating lenders to help qualified buyers become homeowners.
How do Clark County income limits affect a Calico Ridge purchase?
- The program uses county-based income limits that adjust by household size. Your total qualifying income must fall at or below the current Clark County limit to use the program in Calico Ridge.
Can a Calico Ridge condo or townhome qualify under the program?
- Possibly. Many condos and townhomes are eligible if the association meets program requirements. Ask your lender to review the HOA early to confirm eligibility.
Does the assistance cover closing costs for Calico Ridge homes?
- Some program versions allow assistance to be used for down payment and closing costs within program rules. Your lender can confirm allowable uses for the version you plan to use.
Are there resale or recapture rules I should know about?
- Some assisted loan programs include resale or recapture provisions if you sell within a set period. Confirm whether Home Is Possible has any such requirements before you close.
What if Calico Ridge HOA dues are high compared to similar areas?
- Higher dues increase your total monthly payment and can reduce the price you qualify for under program DTI limits. Have your lender include realistic HOA estimates in your pre-approval scenarios.
