Buying your first home can be an exciting, yet daunting experience. With our help you can enjoy this milestone in your life.  The Nebraska Investment Finance Authority (NIFA) Single Family Homeownership Program provides affordable financing for Nebraska residents with low and moderate income levels.  NIFA offers eligible first time homebuyers, 30-year mortgages at below conventional market interest rates.  Certain requirements do apply for each NIFA program:

• You must be a first time homebuyer                (some exceptions apply; i.e. loss of home due to divorce, natural disaster or required job relocation)
• You may not have held ownership interest in a home in the last three years
• Household income limits apply
• Purchase price limits apply 
• Must be your primary residence

Use our Mortgage Qualifier calculator to help you plan your purchase.

To assist us as you “Pre-Qualify”, please bring us your:

• Most recent pay-stub, with year-to-date information included
• Most recent bank statements and other investment statements
• Past three years of tax returns, including W-2 forms
• Creditors’ names, monthly payments and current balances

Some of the programs we offer through NIFA include:

First Home Mortgage

This program is a 30 year fixed-rate mortgage.  There is no prepayment penalty and interest rates are usually less than non-NIFA mortgage rates.  Minimal funds are required for down payment and closing costs.  There are discount points and origination fees equal to 1.75% of the principal amount of the mortgage. 

First Home Plus

 This program is similar to the First Home Mortgage.  However, the interest rate is .35% higher and there are no discount points or origination fees.

Homebuyer Assistant Mortgage (HBA)

This program provides down payment and closing cost assistance.  This assistance is provided by NIFA in an amount currently equal to 4.25% of the first mortgage amount.  The second mortgage bears no interest and no repayment, and is completely forgiven if the borrower keeps the home for 11 years.  The interest rate is generally a bit higher than the First Home Mortgage and First Home Plus. 

 

(By visiting http://www.nifa.org/customers/first_time_homebuyer.html you can learn about current interest rates and much more.)

 

Call us today at 308-345-1555 and make owning your first home a reality!  

Ask about Downpayment and Closing Cost Assistance Programs - Subject to availability and income limits, funds are available to assist with these costs.