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Nevada Program Helps New Homeowners

The state is helping more Nevada residents own property by offering grants for down payments to qualifying families.

The Las Vegas Review-Journal reports that more than 5,500 families have been able to purchase a home with the help of the "Home is Possible" program, which launched in 2014. The program offers free money to low- and middle-income homebuyers in Clark and Washoe counties who meet other mortgage qualifications.

The program is a partnership with the investment firm of Raymond James and is designed to have continuous funding.

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Officials say the average household income of those participating in the program is $57,000, and the average home price is $200,000.