Gibbons extends aid for first-time home buyers

CARSON CITY -- Gov. Jim Gibbons on Monday extended a 4-year-old program that assists first-time home buyers in Nevada's smaller communities.

Gibbons authorized the continuation of the Nevada Rural Housing Authority's Home at Last program, which offers 4.875 percent to 5.375 percent loans to first-time home buyers who meet income criteria.

The program will be financed by $185 million in revenue bonds.

"Any Nevadan who thinks homeownership is out of reach for his or her family should look into this," Gibbons said. "This program helps hardworking Nevadans get into their first homes."

Since its launch in 2006, the Home at Last program has helped more than 500 Nevada families buy their first home.

There is no deadline to apply for the program, but the money is available on a first come, first served basis.

While home purchases in cities with populations of more than 100,000 are excluded, residents in Boulder City, Mesquite, Laughlin and other smaller cities in Clark County could be eligible.