CARSON CITY — The Nevada Rural Housing Authority (NRHA) has launched a new home mortgage and down payment assistance program that is designed to help a group that has received very little help until now: working Nevadans who have been hurt by the downturn in the economy and the housing crisis.

The Home at Last Access program is designed to help qualified, working Nevadans afford to buy a home. It provides a 4 percent down payment grant that does not have to be paid back. It also provides for a competitive mortgage interest rate — currently 4 percent for the 30-year, fixed rate FHA, VA or USDA-RD home mortgages available under the program through participating mortgage lenders. The program is available to qualifying homebuyers who purchase a home in a rural Nevada community. Every community in Nevada is eligible, except Las Vegas and surrounding areas and the city limits of Reno.

“This is the first and only program of its type because it is not limited to first-time home buyers. Also, the income limits as well as home purchase price limit are very generous, making this program available to a wide range of Nevadans,” said Gary Longaker, NRHA executive director.

Homebuyers can also pair the Home At Last Access program with other NRHA programs such as the Home At Last MCC Program, if they are an eligible first-time homebuyer. The MCC program provides a federal income tax credit equal to 20 percent or 35 percent of the annual mortgage interest paid.

To qualify for NRHA’s Home At Last Access program, you must meet certain income qualifications and normal mortgage underwriting requirements, have a minimum credit score of 640 and complete a homebuyer education program. There is also a home purchase price limit of $400,000, income limits of $95,000 for a family of two or fewer and $110,000 for three or more and the home must be used as a primary residence.

For more information, visit www.nvrural.org/access or call 775-887-1795.