Nebraska - Government Backed Loans

NIFA's mission is to serve the people of Nebraska. Within its statutory authority, NIFA is charged with providing a broad range of financial resources for agricultural, residential, manufacturing, medical and community development endeavors and providing technical assistance for activities related to these areas. NIFA's efforts are to be accomplished while preserving and growing the asset base used to provide these resources.

Purchase Programs

First Home

First Home provides assistance to first-time homebuyers in the form of low-interest, fixed-rate, 30-year mortgage loans. Homebuyers must fall within designated income limits in order to qualify, as well as provide signed copies of Federal income tax return forms in order to qualify for the First Home mortgage. Homebuyers must also provide discount points and origination fees from their own savings, in the amount of 1 ¾% of the mortgage amount.

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First Home Plus

First Home Plus provides assistance to first-time homebuyers who qualify for a first mortgage, in the form of downpayment and closing cost assistance, thus eliminating the 1 3/4% cost found in the First Home program. Homebuyers are, however, required to provide other required application fees and closing costs from their own savings. The interest rate on a First Home Plus mortgage is below market, but slightly higher than that of the First Home mortgage.

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Homebuyer Assistance Mortgage - HBA

The HBA program provides downpayment and closing cost assistance to low- to moderate-income first-time homebuyers in the form of a second mortgage equal to 4.25% of the first mortgage amount. This second mortgage is interest-free and repayment is required only if a borrower pays off the first mortgage before 11 years time. If after 11 years this second mortgage is not repaid, the amount declines over time.

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First Home Focused

The First Home Focused program offers homebuyers looking to purchase a home in a targeted area an interest-free mortgage. Income and purchase price limits are higher than with other loan programs, and first-time homeownership requirements do not apply.

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