Bill to reduce interest rates for Nevada homebuyers takes step forward

LAS VEGAS, Nev. (FOX5) – Nevada lawmakers have passed a bill to the assembly that would reduce interest rate mortgage loans for first time buyers.

If passed and signed into law anyone who makes less than $140,000 a year would be able to buy down their interest rate.

MORE: Bill aims to reduce interest rates on mortgages for Nevada homebuyers

Sen. Fabian Doñate, one of the sponsors of the bill says it could help around one thousand families and save them up to $150,000 in their lifetime.