Nev. Admin. Code § 319.466 - Qualifications of eligible borrowers
An eligible borrower must:
1. Meet the criteria for underwriting applied
by the Federal Housing Administration, the Department of Veterans Affairs, the
Rural Development Administration of the United States Department of Agriculture
or the private mortgage insurance company, as appropriate, depending on which
entity insures or guarantees the mortgage loan.
2. Have assets, including, without
limitation, savings accounts, stocks, bonds and equity in real property, that
do not exceed 50 percent of the acquisition cost of the qualified residence,
unless the borrower is disabled or elderly and the Division determines that
such assets are the primary source of income for the borrower.
Notes
NRS 319.140, 319.210
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