Beneficial Programs For First Home Buyers In Nebraska

Helpful Programs For 1st Time Buyers

First time home buyers in Nebraska have many options available to them for help in purchasing their first residence. The Nebraska Investment Finance Authority (NIFA) provides some very attractive programs for Nebraska residents seeking to purchase their first home.




 

Nebraska First Time Home Buyer Programs
Nebraska First Time Home Buyer Programs

Here are some highlights:

Single Family
First Home Plus

The First Home Plus Program provides a low-interest rate first mortgage loan for first-time homebuyers purchasing a home within the State of Nebraska.

NIFA’s definition of a first-time buyer is someone that has not owned and lived in a home within the past 3 years. Certain exceptions apply if a home was lost by divorce, forced job relocation or natural disaster. There are maximum income and purchase price limits that apply to all homebuyers. You must live in the home as your principal residence.

All homebuyers must have a minimum credit score of 640 to qualify for a NIFA loan. If you do not have a credit score, you may still qualify. There is a maximum debt to income ratio requirement of 45% for all loans. Contact a participating lender for more information.

The First Home Plus interest rate is subject to change from time to time. Homebuyers have the option of choosing a government or conventional loan product.

Single Family
First Home Focused (Targeted Areas)

The First Home Focused Program provides a low-interest rate first mortgage loan for homebuyers purchasing a home in Nebraska that is located within a federally designated target area. You do not have to be a first-time homebuyer if you purchase a home within a target area.

There are maximum income and purchase price limits that apply to all homebuyers. You must live in the home as your principal residence.

All homebuyers must have a minimum credit score of 640 to qualify for a NIFA loan. If you do not have a credit score, you may still qualify. There is also a maximum debt to income ratio requirement of 45% for all loans. Contact a participating lender for more information.

The First Home Focused interest rate is subject to change from time to time. Homebuyers have the option of choosing a government or conventional loan product.

Targeted Area Maps:

Adams County
Douglas County
Jefferson County
Lancaster County
Scotts Bluff County

For complete details on these programs, including contact information and instructions on how to apply, please visit the NIFA programs page.





More Nebraska First Time Buyer Programs

In addition to the above homebuyer programs offered by NIFA, there are local housing agencies in various towns, cities and counties throughout the state that provide financial assistance to 1st time property buyers as well. To determine if there any near you, please visit local 1st time home buyer programs in Nebraska.