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- The Nebraska Investment Finance Authority has several programs for first-time homebuyers.
- The NIFA Military Home Program is specifically for active and retired military members.
- Before you apply for a NIFA loan, you'll have to fill out a form to get a NIFA Homebuyer Certificate.
If you're a first-time homebuyer in Nebraska but don't meet the qualifications for a conventional mortgage with a private lender, you still have other opportunities to purchase a home.
The Nebraska Investment Finance Authority (NIFA) and the Northern Ponca Housing Authority have homebuyer programs and resources that can help you during the homebuying process. Here's an overview of the programs.
NIFA First Home Program
NIFA can help first-time homebuyers get a conventional, FHA, or USDA loan through the First Home Program if you don't require state financial assistance.
You may be eligible for the NIFA First Home Program if you:
- Are a first-time homebuyer (defined as not having owned a home in the last three years)
- Have a household income that is less than the maximum household income limit
- Plan to purchase a home that's $427,000 or less in a target area, OR $349,000 or less in a non-target area
- Have a minimum credit score of 640 or higher
- Have a debt-to-income ratio that's 45% or lower
- Plan to finish a homebuyer's education course
If you lost your home because of a natural disaster, forced job relocation, or divorce, you might still qualify for the First Home Program. However, you'll need to fill out an additional form to be considered for the program.
NIFA First Home Targeted Program
NIFA also has the First Home Targeted Program, available to any buyer looking to buy a home in a state target area and doesn't need financial assistance.
The NIFA First Home Targeted Program will help you get a conventional, FHA, VA, or USDA loan, even if you aren't a first-time homebuyer. However, your family's income must still be below the target area maximum household limit, and the purchase price of your home must be $427,000 or less.
Target areas are specific zones in counties that are determined by the federal government. The following counties have target areas:
- Adams County
- Douglas County
- Jefferson County
- Lancaster County
- Scotts Bluff County
If you plan to buy a home in Nebraska and want to see if you qualify for this program, check your address using this tool to see if your home is in a target area.
How to determine if your income is below the Nebraska maximum household income limit
The Nebraska maximum household income limit varies by county and family size.
Below is the Nebraska maximum household income limit for all non-target area counties as of May 19, 2022, according to NIFA:
| County | Maximum total gross income for a family of 2 or fewer | Maximum total gross income for a family of 3 or more |
| Cass | $95,100 | $109,365 |
| Douglas | $95,100 | $109,365 |
| Lancaster | $90,600 | $104,190 |
| Sarpy | $95,100 | $109,365 |
| Saunders | $93,000 | $106,950 |
| Seward | $96,500 | $110,975 |
| Washington | $95,100 | $109,365 |
| All other counties | $89,000 | $102,350 |
Below is the Nebraska maximum household income limit for all target area counties as of May 10, 2022, according to NIFA:
| County | Maximum total gross income for a family of 2 or fewer | Maximum total gross income for a family of 3 or more |
| Adams | $106,800 | $124,600 |
| Douglas | $114,120 | $133,140 |
| Jefferson | $106,800 | $124,600 |
| Lancaster | $108,720 | $126,840 |
| Scotts Bluff | $106,800 | $124,600 |
NIFA Military Home Program
The NIFA Military Home Program is specifically for all honorably discharged veterans and current military members who meet NIFA's criteria for first-time homebuyers.
The NIFA Military Program helps eligible military members get a VA loan, FHA loan, or USDA loan.
If you are a veteran, you may need to submit military service records, such as your DD214, to be a part of the program.
NIFA Homebuyer Assistance Program
If you are struggling to save up money for your down payment or closing costs, the NIFA Homebuyer Assistance Program could be a good option.
The NIFA Homebuyer Assistance Program may provide up to 5% of your mortgage as a loan. The state loan has a 1% interest rate and a 10-year term.
To qualify, you must meet NIFA's requirements as a first-time homebuyer. Additionally, you will need to talk to a NIFA loan officer specialist.
NIFA Welcome Home Loan Program
NIFA's new Welcome Home Program is available to both first-time and repeat homebuyers who meet income and purchase price limits. This program is for buyers who need down payment and closing cost assistance.
The current household income limit to qualify for this program is $145,000, and you'll be limited to a purchase price of $427,000.
Homebuyers will need to have a credit score of at least 640 and a DTI that's no more than 45%.
NIFA Homebuyer Education
NIFA compiled a list of homebuyer education courses for first-time homebuyers. Classes are available online or locally in select cities.
See the full list of courses here.
How to apply for a NIFA loan
If you'd like to apply for a NIFA loan, you'll first have to fill out a form and get a NIFA Homebuyer Certificate. Once you've received your certificate, you may speak to a loan officer specialist who will guide you through the homebuying process and evaluate your finances. After meeting with the loan officer specialist, you'll select a participating lender and apply for a loan.
Northern Ponca Housing Authority
The Northern Ponca Housing Authority (NPHA) is a non-profit organization that provides financial assistance to Native Americans who live in Omaha, Bellevue, Lincoln, Norfolk, Battle Creek, Columbus, or Niobrara, Nebraska.
The NPHA has a down payment assistance program that provides loans to eligible first-time homebuyers. The amount provided by the NPHA will vary depending on the applicant's financial circumstances.
If you're interested in learning more about the downpayment assistance program, check out the application pack here.