NIFA Loan Programs

Nebraska Investment Finance Authority (NIFA) has a number of programs available to assist first-time homebuyers. One of these is the Homebuyer Assistance Program which helps cover the cost of the down payment and closing costs for eligible applicants. 

Available Assistance 
The HBA Program includes a first and second mortgage loan.  The interest rate on the first mortgage loan is higher than NIFA's other programs that do not offer NIFA down payment and closing cost assistance. The maximum amount of assistance for the second mortgage loan is 5% of the home's purchase price, not to exceed $10,000. The second mortgage has a 10-year or 120-month term, and an interest rate of 1%.  
 
Eligibility Requirements 
The Homebuyer Assistance (HBA) Program helps borrowers buy a home with a minimum investment of $1,000. There may be some situations where the minimum investment may need to be more than $1,000 depending on the type of loan (government or conventional) and the amount of closing costs the seller is willing to pay. 

Rates  
For Government-Backed Loans: 
3.625% on the first mortgage 
1% on the second mortgage 

For Conventional Loans: 
3.875% on the first mortgage 
1% on the second mortgage 

 ​Note: All information was accurate at the time of publication and may no longer be current - visit the program website for updated information.
 

Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.