Finance
What is the Nevada Housing Finance Agency's role in affordable housing?
AIt provides direct mortgages to Nevada homebuyers
BThe Nevada Housing Division issues mortgage revenue bonds and administers low-income housing tax credits, funding affordable homeownership and rental housing development in Nevada✓ Correct
CIt sets maximum rents for Nevada affordable housing
DIt is the same as the Nevada Real Estate Division
Explanation
The Nevada Housing Division issues tax-exempt mortgage revenue bonds to fund below-market mortgage loans and administers the Low-Income Housing Tax Credit (LIHTC) program, which is the primary federal tool for financing affordable rental housing development in Nevada.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Fair Housing ActFederal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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