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 in a bank account to purchase a home using our program.
The following Household Income Limits must be used for eligibility:
1
2
3
4
5
6
7
8
$46,200
$52,800
$59,400
$66,000
$71,300
$76,600
$81,850
$87,150
These figures are subject to change. Current as of 05/01/2021
During the Homebuyer Education course, you will learn:
Please note: we operate with a waiting list and clients are typically invited to classes 1-2 months after applying for the program.
Classes are hosted in person at the NeighborWorks Lincoln Office, 2530 Q Street, until further notice. All adult members of the household must attend all four classes, typically held on the second and third Mondays and Wednesdays of each month from 6:00-8:30pm. (Childcare is not provided.) This may change depending on evolving COVID-19 precautions. Please continue to visit our website for the latest information. You will receive more information about the classes when you are invited.
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 $218,500 (as of 09/01//2021).