Nebraska First-Time Homebuyer Financial Assistance Program

Jul 1, 2021 | First Time Home Buyers

Are you looking to buy a home for the first time and don’t have enough money? Don’t worry. No matter how much you have saved, you can still access the first-time homebuyer financial assistance program in Nebraska. This program is provided by the Nebraska Investment Finance Authority (NIFA) — a government housing finance agency, and reserved for first-time homebuyers only. Some of the programs include:

Homebuyer Assistance Program (HBA)

The program offers low-interest mortgages and deposit payment assistance. You can access a 30-year conventional FHA, VA, or USDA through the Home Buyer Assistance Program. It’s available to people who haven’t bought a home for the last three years, veterans, or even buyers in high target areas. Depending on the loan type you are requesting and your closing costs, you can be required to contribute up to $1,000.

First Home Program

If you don’t require down payment assistance, you directly qualify for Nebraska Investment Financial Assistance’s first home program. The eligibility for this type of loan is the same as HBA’s, although the interest rates are lower. The program also applies to conventional FHA and USDA loan. Take advantage of the flexible income and maximum buying price in the first home program if you buy a property in a target area.

Military Home Program

The military homeownership program serves active military and honorably qualified veterans and provides a fixed interest rate on mortgages for 30 years. You can take advantage of the program without a down payment if buying a home for the first time. The military home program loan is acquired through the Department of Veteran Affairs or in conjunction with an FHA or USDA guarantee if not qualified.

Home Grant Program

This program is designed to support families with low-income earning less than 50 percent of the area’s median income. The grant money is issued on a first-come, first basis, and the approved beneficiaries receive $5,000 in cash, which is not repayable. Homebuyers who qualify for the first home program receive $5,000 grant money, which helps settle down payment and closing costs.

If you are looking to buy or sell your home in the North Platte and surrounding areas, contact Gateway Realty for a consultation. Our goal is to help you find the perfect home or find the right buyers for your house. We offer various services ranging from residential to commercial real estate, rentals, and so much more. Visit our website or contact us to learn more about us and the services we offer today.

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