Learn About Local Grants Available To You
First time home buyers in Nebraska have many options available to them for help in purchasing their first residence. Unfortunately, a first time home buyer grant from the Nebraska Investment Finance Authority isn’t one of them. NIFA doesn’t provide grants. There is, however, an organization that does provide grants for people purchasing their first home in Nebraska.
Grants From The Northern Ponca Housing Authority
Monetary gifts for the needed down payment are perhaps the greatest resource that you can tap into as a first time home buyer. The Northern Ponca Housing Authority (NPHA) has helped over 56 families by giving them the money they needed for a down payment on their first home. From the NPHA website:
The Northern Ponca Housing Authority was created under Ordinance of the Ponca Tribe of Nebraska. In January 1993, the Housing Authority board was appointed by the Tribal Council, and policies and procedures were established prior to applying for grants.
The Northern Ponca Housing Authority offers low-income housing, down payment assistance, a tenant home ownership program, home ownership home improvement assistance and a residential opportunity for self-sufficiency program.
Their grant program that provides funds for a down payment varies on a case-by-case basis, and is reviewed periodically. Here are some more program details:
The DPA Program is specifically designed to increase the availability of affordable housing
by addressing homeownership on several levels. It combines NPHA Indian Housing Block
Grant (IHBG) funds with private first mortgages, thereby multiplying many times over the
number of native families that can be assisted with NPHA’s grant.
A. Eligibility- The DPA Program is available to low-income Native American families
with gross incomes at or below 80% of the median income adjusted for family size.
The current income limits shall be appendices to this policy.
B. Credit – DPA Program applicants must meet the credit requirements of the first
mortgage lender (bank/lender). Applicants will be pre-screened to determine credit
worthiness. NPHA will assist applicants in demonstrating that they have stable
income and the ability and willingness to meet financial obligations.
C. Affordability- DPA funds are available to buy down the cost of owning a home.
This results in a lower mortgage amount and lower monthly payments. NPHA
funds will be in the form of a second mortgage with no monthly payments. This
second mortgage is forgiven after the funding useful life per NPHA’s Indian
Housing Plan (IHP) has been exhausted.
D. Cash Flow – DPA may include payment of reasonable loan closing costs
associated with the first mortgage and NPHA’s second mortgage.
To get complete details on this grant, including income limits as well as how to get the application process started, please visit this NPHA webpage and download their down payment assistance packet.
More Nebraska 1st Time Buyer Resources
In addition to the above NPHA grant, there are other financial resources available as well. Be sure to visit Nebraska down payment assistance, as well as our page that shares details about special loans available in NE to purchase your first home.