First-Time Home Buyer Programs in Nebraska

Nebraska Investment Finance Authority (NIFA) Programs:

NIFA pairs below-market first mortgages with borrower-friendly down payment assistance through participating lenders. Key NIFA pages: NIFA Homebuyers & Renters and the HBA program summary (PDF). See NIFA's Welcome Home page for current income/purchase limits and lender lists: NIFA — Welcome Home.

Nebraska First-Time Homebuyer Mortgage Programs:

Eligibility: First-time buyers (no primary residence in past 3 years) unless buying in a NIFA "target area" or eligible as a qualified veteran. Mandatory homebuyer education is required for many first-time buyers on NIFA products.
Offerings: 30-year fixed options delivered via FHA/VA/USDA or conventional financing through NIFA-participating lenders; NIFA loan pricing is often lower than market and many products are paired with a NIFA second-loan DPA.
Requirements:

• Income: NIFA household income limits are county- and program-specific. NIFA published a statewide household income limit of $175,500 (effective 7/7/2025) for the Welcome Home program — targeted-area limits and program-specific limits may differ. See NIFA for county charts. (NIFA Welcome Home)
• Credit score: NIFA guidance commonly references minimum credit scores around 640 for conventional/Government deliveries; manual-underwrite paths and lender overlays vary. (NIFA)
• Debt-to-income: Typical total DTI limits are ~45%; NIFA allows up to ~50% with compensating factors or higher credit (e.g., 660+ in some cases). (NIFA)
• Purchase price caps: NIFA publishes purchase limits by program — for example Welcome Home listed a one-unit cap of $485,500 (effective 7/7/2025). Verify current caps with NIFA or a participating lender. (NIFA Welcome Home)

Down Payment Assistance (DPA) Options:

NIFA Homebuyer Assistance (HBA): NIFA's HBA typically provides a second loan up to 5% of the purchase price, capped at $10,000, commonly structured as a low-cost second (example terms in the HBA summary: 1% interest, 120-month term) that must be paired with a NIFA first mortgage. See the official HBA summary for exact terms and current caps. (HBA summary (PDF))

NIFA Military & Welcome Home Options:

NIFA offers specialized pathways for military/veterans (Military Home) and the Welcome Home/Welcome Home Assistance suite for first-time and repeat buyers. These products can include higher purchase limits, targeted-area waivers of the first-time rule, or additional assistance. Verify program names, current rate sheets, and any targeted-tract rules at NIFA Homebuyers & Renters (rates last posted 06/18/2026 on NIFA's rates table).

Local Programs (examples & partners):

Local city, county, and nonprofit programs can often be stacked with NIFA assistance. Funding streams and forgiveness terms change with cycles — check each provider below before publishing a specific dollar amount.

Omaha / Douglas County

Omaha 100 (O100): Local CDFI that runs homebuyer assistance and lending products; program guidelines and funding streams vary — contact O100 for current caps and terms. (Omaha 100)
NeighborWorks Home Solutions: Nonprofit developer/operator in the Omaha metro offering infill/new-construction homebuyer programs and down payment/closing cost support (amounts and availability vary by funding year). (NeighborWorks Home Solutions)

Lincoln / Lancaster County

Lincoln partners with regional nonprofits (NeighborWorks, local CDCs) and HOME-funded initiatives to deliver down payment assistance and rehabilitation/resale programs. Assistance levels typically depend on HOME / local funding cycles — check the City of Lincoln Urban Development page for current offerings. (City of Lincoln – Home Ownership Programs)

Grand Island / Hall County

Grand Island area buyers should contact the Hall County / Grand Island Housing Authority or regional community action partners for HOME/CHIP-funded DPA and other local support. Local housing authority pages and nonprofit partners are the best source for current caps and eligibility. (Hall County / Grand Island Housing Authority)

Additional Information:

• USDA Loans: 0% down in eligible rural areas via the USDA Single-Family Guaranteed Loan Program; area and income eligibility rules apply. (USDA RD — Guaranteed Loan Program)
• VA Loans: 0% down for eligible veterans and active-duty borrowers through VA-backed purchase loans; borrowers still need to meet credit and income underwriting and obtain a Certificate of Eligibility. (VA Home Loans)
• FHA Loans: FHA generally allows a minimum down payment of 3.5% for borrowers with the HUD Minimum Decision Credit Score (MDCS) of 580 or above; lower scores (500–579) typically require a larger down payment. See HUD for handbook details. (HUD / FHA)

Nebraska programs emphasize both rural-friendly federal options and state/local DPA that can be combined in many cases. Always verify current income/purchase limits, rates, and program availability with a participating lender or the official program pages linked above.

Always confirm with an NIFA-approved lender or nifa.org.

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