Nebraska Down Payment Assistance
Nebraska is a beautiful state, and one of the best states for getting an education! Rising real estate prices can make home ownership in Nebraska difficult, however. Luckily, local and national programs exist that offer down payment assistance and grants to qualified applicants. The Nebraska Investment Finance Authority is one organization that offers such programs.
If you're thinking about purchasing a home in Nebraska, you may have options to help with the down payment or closing costs. Read below to learn more about any program and see if it can help with your home purchase!
Offered through the Nebraska Investment Finance Authority (NIFA), the Homebuyer Assistance Program can be used to help with the down payment and closing costs of a home purchase.
The Homebuyer Assistance Program offers both a first mortgage (the mortgage loan) and a second mortgage (the down payment assistance). Because is comes with down payment and closing cost assistance, the Homebuyer Assistance Program first mortgage has an interest rate that is higher than other NIFA loans.
The second mortgage can be for an amount up to 5% of the sales price of the house, but no more than $10,000. This loan has a 10-year term and 1% interest rate.
Applicants have to be able to put at least $1,000 of their own funds towards the purchase.
