Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Nebraska

Nebraska Investment Finance Authority (NIFA) Homebuyer Assistance Program

  • What It Offers: Provides up to 5% of the home’s purchase price in down payment and closing cost assistance.

  • Who Qualifies: First-time homebuyers and repeat buyers in targeted areas.

  • Income Limits: Based on county and household size.

  • Repayment: Low-interest second mortgage repaid over 10 years.

  • Website: https://www.nifa.org/homebuyers-renters/welcome-home

First Home Program

Blue Valley Community Action (BVCA) Partnership – Homeownership Opportunity Program

  • Assistance: Offers up to $15,000 in down payment and closing cost assistance.

  • Terms: The assistance is provided as a deferred loan with no interest or payments for the first five years; repayment begins in year six with a 3% interest rate amortized over ten years.

  • Eligibility: Available to first-time homebuyers in Butler, Fillmore, Gage, Jefferson, Polk, Saline, Seward, Thayer, and York counties.

Please note that program availability and terms can change. It's advisable to contact the respective agencies or visit their websites for the most current information.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.