Program Overview & Guidelines

When you are ready to buy your home, NeighborWorks Lincoln is here to assist.

In our Homeownership Program, we help consumers with down payment, closing costs, and property rehabilitation through the use of special financing. Clients using our program must have positive credit and 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. 

Homebuyer Education

Completing our 10 – hour Homebuyer Education course is the first step to receiving assistance through our Homeownership Program. This course empowers prospective homeowners with the tools they need to confidently maneuver their way through the home buying 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.

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

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. Lead educators are NeighborWorks Lincoln staff members, each with more than 25 years experience in the real estate and housing industries. Apply to take a class or view the calendar of upcoming classes.

Program Guidelines

 Our Education Program is for people who seek more knowledge about the home buying process. Our team of instructors show you the steps involved in obtaining your home loan, choosing a Realtor, the paperwork involved and the professionals involved in the transaction. Budgets are made. The importance of positive credit is reviewed and clients  pre-qualify themselves for the price range of home they can afford. Upon completion of the education 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 fully or 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.

The maximum purchase price for an existing home purchase with our program is $142,500. (as of 4/1/2017)

The following Household Income Limits must be used for eligibility: