Vegas first time home buyers.

[nutforslots]

First time homebuyers in the state of Nevada can look forward to help from state government.

The state Housing Division is moving forward with plans to lend $125 million to first-time, lower-income homebuyers in Nevada.

Agency officials estimate the money, which will be raised through the sale of state bonds, will finance the purchase of about 850 homes.

Lon DeWeese, chief financial officer of the division, said a family of two earning up to $78,480 can qualify for a first-time loan. The average loan issued through the program is $125,124. The maximum amount is $349,000.

The money can be borrowed through banks, savings and loans, and other financial institutions.

This is great news indeed. There are many people who want to buy homes but don't have the income to get a standard loan. This will also boost the states housing market which is in desperate need of something positive.