LAS VEGAS —Silver State Schools Credit Union (SSSCU) said it is now accepting applications for its Middle-Income Down Payment Assistance program, which offers up to $10 million in funding to support middle-income, first-time homebuyers in Nevada, California, and other eligible states. 

It is partnering on the initiative with the Federal Home Loan Bank of San Francisco.

Qualified applicants may receive up to $50,000 in grant funds to assist with down payments and closing costs.  The grants will be distributed on a first-come, first-served basis, and interested homebuyers are being encouraged to apply early due to limited funding, the credit union said. 

“It’s a privilege to be part of this program, which offers a meaningful mortgage opportunity to hardworking individuals and families,” SSSCU President and CEO Scott Arkills said in a statement. “The grant assistance is more than just helping people buy homes today, it helps build a foundation for future generations. This program aligns perfectly with our ‘Purpose of Prioritizing People Over Profit,’ ensuring our members have the tools they need to secure their financial futures.”

The Requirements

According to the credit union, the program targets individuals and families earning between 80.01% and 140% of the area median income. 

Eligible participants must be first-time homebuyers, as defined by the U.S. Department of Housing and Urban Development (HUD), and meet several key criteria, including contributing a minimum of $10,000 toward the home purchase, completing a HUD-approved Homebuyer Counseling Program, and purchasing an eligible property in Nevada, California, or Arizona as their primary residence.