Finance
What is the Community Development Block Grant (CDBG) and how does it affect Nevada housing?
AA grant for Nevada luxury housing development
BA federal grant from HUD that Nevada cities and counties use to fund affordable housing, neighborhood revitalization, economic development, and public services in low- to moderate-income areas✓ Correct
CA grant only for Nevada rural communities
DA private foundation grant for Nevada homebuyers
Explanation
CDBG is HUD's primary community development grant. Nevada cities (Las Vegas, Henderson, Reno) and Clark/Washoe counties receive annual CDBG allocations to fund affordable housing programs, neighborhood improvements, fair housing activities, and public services in LMI communities.
Related Nevada Finance Questions
- What is a 'second mortgage' (junior lien) and how does it affect priority in Nevada foreclosure?
- A Nevada borrower's loan application shows a gross monthly income of $7,500 and total monthly debt payments of $2,850 including proposed housing costs. What is the debt-to-income (DTI) ratio?
- What is a promissory note in Nevada real estate?
- What does the term 'amortization' mean in real estate finance?
- What is a Nevada home equity loan and how does it differ from a HELOC?
- The Truth-in-Lending Act (TILA) requires lenders to disclose the:
- What is the primary purpose of Nevada's anti-deficiency statute (NRS 40.455) in a residential foreclosure?
- What is a 'hard money loan' and how is it commonly used in Nevada real estate?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →