Offered through the Nebraska Investment Finance Authority (NIFA), the Homebuyer Assistance Program can be used to help with the down payment and closing costs of a home purchase.
The Homebuyer Assistance Program offers both a first mortgage (the mortgage loan) and a second mortgage (the down payment assistance). Because is comes with down payment and closing cost assistance, the Homebuyer Assistance Program first mortgage has an interest rate that is higher than other NIFA loans.
The second mortgage can be for an amount up to 5% of the sales price of the house, but no more than $10,000. This loan has a 10-year term and 1% interest rate.
Applicants have to be able to put at least $1,000 of their own funds towards the purchase.