Program Overview

Buying a house can be complicated. We’re here to help.

Our Homeownership Program guides potential homeowners through the buying process which can feel so, so daunting. It begins with an in-depth education so you can confidentially move forward in the process. This education is available to everyone. In addition, consumers who qualify can receive a 3% down payment, closing costs, and property rehabilitation through the use of special financing. We believe everyone deserves to have a place they can call “home”, regardless of race, color, national origin, religion, sex, familial status or disability. 

Program Requirements

Clients using our program must have a median credit score of 640 and stable employment history to be able to obtain a first mortgage. They will also need to have a minimum of $1,000 of their own funds to purchase a home using our program. 

The following Household Income Limits must be used for eligibility:

 

 

 

 

 

Homebuyer Education

Due to COVID-19 there will be no in-person, face-to-face classes for the foreseeable future. However, we are still accepting applications for the program and are offering the education online. Access to a computer and internet is required. If you would like more information, please apply for the program online. It typically takes 2-4 business days for your application to be processed.

Our 10-hour Homebuyer Education course empowers prospective homeowners with the tools they need to confidently maneuver their way through the home buying process. It is a requirement for those who wish to receive financial assistance through our Homeownership Program and the first step in the process. As better informed consumers, clients will be more responsible, sustainable homeowners. The program is open to the public, but applications and registration are required.

Please note: we operate with a waiting list and clients are typically invited to classes 1-3 months after applying for the program.

During the Homebuyer Education course, you will learn:

• Analyzing and managing finances, budget, and credit
• Evaluating homes and affordability
• Working with Realtors and neighborhood leaders
• Understanding financial paperwork, closing costs, and money
• The amount of money needed for purchasing a home
• How to pre-qualify yourself for a price range of home you can afford

The Homebuyer Education course spans two weeks and is typically held from 6:00 p.m. to 8:30 p.m. on Monday and Wednesday evenings for a total of 10 classroom hours.  Apply to take a class or view the calendar of upcoming classes.

Down Payment Assistance

Our Education Program is for people who seek more knowledge about the home buying process. Upon completion of the classes, clients are eligible for a down payment assistance loan to help with the down payment, closing costs and rehab on the home they choose. These loans are 0% interest and have no payments and depending where the home is located, these loans can be half forgiven over the first 10 years of home ownership or due upon sale.

There are 2 focus areas in Lincoln where assistance funding may be greater than in the city as a whole. The Low to Moderate Income Area (LMI) is derived by the Census Bureau and is based on median income levels. The Neighborhood Revitalization Strategy Area (NRSA) is derived by the City of Lincoln based on the desire for additional single-family housing. Please refer to the “Realtor Information” page for a user-friendly interactive website to see if properties are within these areas. While these areas have greater forgiveness, NeighborWorks Lincoln clients are able to purchase anywhere within the city limits of Lincoln, NE.

The maximum purchase price for an existing home purchase with our program is $166,250. (as of 12/1/2019)