NAC319.330. “Eligible borrower” defined.

Latest version.

“Eligible borrower” means a person who:

     1. Desires to obtain financing for the acquisition cost of a qualified residence;

     2. Qualifies as an eligible family pursuant to NRS 319.060; and

     3. Has a household income that does not exceed 170 percent of the median income for the area in which the home is located, unless bond counsel selected by the Division approves a higher limit for a particular program.

[Housing Division, Loans for Single-Family Homes Reg. § 3 subsec. c, eff. 5-8-78; A and renumbered as § 2 subsec. 2, 7-23-80]—(NAC A 4-13-88; R166-99, 6-15-2000; R192-08, 12-17-2008)

                    
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