Nebraska first-time homebuyer assistance programs
If you’re looking for your first home in the Cornhusker State, you’ll find it fairly affordable. The median sale price as of January 2025 was $277,300, according to Redfin data, which is much less than the national median.
Still, if that figure seems daunting, the Nebraska Investment Finance Authority — the state’s housing finance agency — can help you obtain an affordable mortgage and down payment assistance if you qualify. The organization’s programs are typically reserved for first-time homebuyers and include homebuyer education to help guide you as you embark on your purchase.
If you’re interested in lowering the barrier to homeownership in Nebraska, read on to find out what might be available to you.
Nebraska housing market statistics
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- Days on the market, Jan. 2025: 39 days (Redfin)
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- Percent of homes sold above list price, Jan. 2025: 17.7% (Redfin)
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- Median down payment, Oct. 2024: $37,700 (ATTOM)
Nebraska first-time homebuyer loan programs
NIFA Homebuyer Assistance Program (HBA) Welcome Home
The Nebraska Investment Finance Authority’s (NIFA) Homebuyer Assistance Program (HBA) offers both low-interest mortgages and down payment assistance. It offers 30-year conventional, FHA, VA or USDA loans.
NIFA First Home Program
First-time homebuyers who don’t need down payment or closing cost assistance — just an affordable mortgage — could also look into NIFA’s First Home Program. The loan options through this program include conventional, FHA, USDA and VA loans.
NIFA Military Home Program
Active-duty military and qualified veterans — first-timers or not — can also take advantage of a low-rate mortgage through NIFA’s Military Home Program, with low or no down payment. The program mainly applies to VA loans, but can also work with an FHA or USDA loan.
Nebraska down payment assistance
NIFA Homebuyer Assistance Program (HBA)
The HBA program includes a first and second mortgage loan. The second loan is taken out at the same time as the first and amounts to 5 percent of the home’s purchase price. It also has a 10-year loan term and carries a 1 percent interest rate. This program includes conventional, FHA, USDA and VA loans.
Other Nebraska homebuyer assistance programs
Northern Ponca Housing Authority
The Northern Ponca Housing Authority provides sustainable housing, home ownership and community development services to members of the Ponca Tribe of Nebraska and other eligible Native Americans. Qualifying Native Americans can apply for down payment assistance by contracting its office directly by phone, in person or by filling out an online form.
North East Housing Initiative (NEHI)
NEHI, a private nonprofit operating in six northeastern Nebraska counties, offers a purchase/rehab/resell program. It allows qualified first-time homebuyers to identify a home that meets specific conditions as outlined by NEHI, whose staff then inspects the property. If the property and a rehab cost estimate is approved, NEHI will purchase it, make the renovations and then sell it to the applicant for the original purchase price, plus rehab costs.
At closing, NEHI provides the buyer with down payment assistance of up to $20,000, in the form of a zero-interest, deferred loan.
High Plains Community Development Corporation
This agency offers a Rural Home Loan Direct Program, which is home loans for applicants who may be otherwise unable to access a mortgage because of a lack of down payment, income, credit history or job history. The program is designed for low- and very-low income applications in rural areas. The mortgages come with a fixed-rate of as little as 1 percent and repayment terms range from 33 to 38 years. There’s also no down payment required. Applicants can submit loan applications directly to the High Plains Community Development Corporation by phone, via mail or by visiting their office.
Other first-time homebuyer loan programs
Along with Nebraska state first-time homebuyer programs, there are other programs available on a national level that could help you get into your first home sooner.
- FHA loans: Even with a credit score of 580, you may still qualify for an FHA loan, and you only need to put down 3.5 percent of the purchase price.
- VA loans: For qualifying service members, veterans or eligible spouses, a VA loan is an option with big benefits: no down payment required, no minimum credit score to qualify, and competitive interest rates.
- USDA loans: USDA loans are worth investigating if you want to purchase a home in a qualifying rural area. Like VA loans, there is no down payment required, and you may only need a credit score of 640 to qualify with USDA-approved lenders.
Get started
When you’re ready to apply for a mortgage program in the state of Nebraska, here are some next steps to take:
- As a first-timer, it’s important to familiarize yourself with the process of buying a home to better help you prepare for each phase of the homebuying journey.
- Research available assistance programs at the state and local levels and take note of which ones you’d like to apply for.
- Compare Nebraska mortgage rates from multiple lenders — at least three — to find the best terms and rates.
- Before deciding on a lender, read the mortgage lender’s reviews from past customers to ensure you find the best lender to work with for your needs. Pay attention to factors that matter most to you, such as the ability to check your loan status online or work in person with a loan officer.
- Explore homeowners insurance options in Nebraska to find out what’s available and how much a policy is likely to cost so that you have a full picture of your projected housing costs.
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