NIFA Homebuyer Assistance Program (HBA)
Nebraska Investment Finance Authority (NIFA), via participating NIFA lenders statewide
Amount: Second mortgage loan for down payment/closing cost assistance equal to 5% of the home's purchase price, at a fixed 1% interest rate over a 120-month (10-year) term. Paired with a First Mortgage at approximately 6.500% (Conventional) or 6.125% (Government) — rates confirmed as of the NIFA site's most recent update.
Type: Forgivable/repayable second mortgage (low-interest, not a grant) paired with a first mortgage
Must be a NIFA-defined first-time homebuyer (has not owned and occupied a home as a primary residence in the past 3 years) OR a qualified veteran OR purchasing in a NIFA-designated target area. Must meet NIFA program-wide credit/income underwriting: minimum credit score 640 (max 45% DTI), or 660+ credit score allows up to 50% DTI. Maximum household income limit of $175,500 (effective 7/7/2025, varies somewhat by household size/location per NIFA's published limits table). Purchase price limits effective 7/7/2025: non-target areas up to $398,000 (1-unit)/$497,500 (2-unit); target areas up to $485,500 (1-unit)/$607,000 (2-unit). Required to complete an approved homebuyer education course before closing. Must occupy home as primary residence within 60 days of closing. Loan types: Conventional, FHA, USDA Rural Development, or VA.
NIFA Welcome Home Loan Program (with Welcome Home Assistance, WHA)
Nebraska Investment Finance Authority (NIFA), via participating NIFA lenders statewide
Amount: Down payment and closing cost assistance paired with a first mortgage at approximately 6.875% (Conventional) or 6.500% (Government); lender may charge an origination fee up to 0.50% of the loan amount. (NIFA's site did not publish a specific WHA dollar/percentage cap distinct from HBA's 5% structure — applicants should confirm exact assistance amount with a participating lender.)
Type: Down payment/closing cost assistance loan paired with a first mortgage
Open to BOTH first-time homebuyers and repeat homebuyers (unlike HBA, which is first-time/veteran/target-area only). First-time buyers (no home ownership/occupancy in past 3 years) must complete homebuyer education; repeat buyers are exempt from that requirement. Minimum credit score 640 with max 45% DTI (or 660+ score for max 50% DTI). Maximum household income $175,500 (effective 7/7/2025). Purchase price limits: $485,500 (1-unit)/$607,000 (2-unit), effective 7/7/2025. Must occupy as primary residence within 60 days of closing.
NIFA Build Home Program
Nebraska Investment Finance Authority (NIFA), via participating NIFA lenders statewide
Amount: Not a direct cash grant — it is a construction-to-permanent financing feature that locks a NIFA mortgage interest rate for up to 180 days while a new home is built, and can be combined with the First Home, Welcome Home, or Military Home programs (and their HBA/WHA down payment assistance) for actual down payment funds. Rate listed as variable ('varies') depending on which underlying loan program is paired with it.
Type: New-construction rate-lock financing program, combinable with down payment assistance programs above
Available for new-construction single-family homes anywhere in Nebraska, plus certain modular/factory-built homes meeting NIFA and lender standards. Must meet the credit/DTI standards of whichever base program (First Home/Welcome Home/Military Home) it's paired with: minimum credit score 640 with max 45% DTI (or 660+ for max 50% DTI). Income and first-time-buyer eligibility follow the paired program's rules (e.g., pairing with HBA requires first-time-buyer/veteran/target-area status; pairing with Welcome Home Assistance allows repeat buyers too).