NIFA HOMEBUYER ASSISTANCE PROGRAM at NIFA AFFORDABLE FIRST-TIME HOMEBUYER LOANS
The Homebuyer Assistance Program assists individuals with homeownership, especially if applicants don't have a down payment or money for closing costs. HBA Program can help individuals buy a home with a minimum investment of $1,000. All buyers in this program must meet NIFA's first-time homebuyer eligibility requirements.
This program includes a first and second mortgage loan. The interest rate for the first mortgage loan is higher because it includes a down payment and closing cost assistance. The maximum amount for the second mortgage loan is 5% of the home's purchase price. The term of the second mortgage loan is 120 months or 10 years. Interest rate on the second mortgage loan is 1%.
Categories
Physical Address
1230 O Street, Lincoln, NE 68508
Mailing Address
1230 O Street, Lincoln, NE 68508
Hours
Mon 8 am - 5 pm; Tue 8 am - 5 pm; Wed 8 am - 5 pm; Thu 8 am - 5 pm; Fri 8 am - 5 pm;
Voice
Voice
(800) 204-6432
Website
Application process
Complete eligibility questionnaire on website or call
Fee
None
Required documents
Household income information
Eligibility
First-time homebuyers; individuals who have not owned or occupied a primary residence within the past three years are considered a first-time home buyer; an individual is considered a first time homebuyer if home has been occupied for three or more years by renters; Potential buyers do not need to be first-time buyers if they are qualified veteran who has been discharged from service conditions other than dishonorable or if they're purchasing a home located in a target are within one of the following counties: Adams, Douglas, Jefferson, Lancaster, or Scotts Bluff; geocoding/Mapping System can identify whether or not a specific home is in a target area
Agency info
NEBRASKA INVESTMENT FINANCE AUTHORITY
Low interest rate loans and down payment assistance for first-time homebuyers, repeat homebuyers and veteran homebuyers through local lenders.