In addition to down payment assistance, NeighborWorks Lincoln provides funds to cover a limited rehabilitation scope. This work focuses on structural repairs or upgrades that will help avoid unexpected maintenance for the first three (3) years of ownership. The assistance amount varies per family and is based on the purchase price of the home as well as household income. Qualified borrowers can purchase existing homes anywhere within Lincoln’s city limits, but special incentives are available to buyers who purchase homes in specific neighborhoods. 

Down payment and rehab assistance is provided through an interest-free, payment-deferred loan. This assistance loan covers a 5% down payment, closing costs, and some rehabilitation associated with the purchase of the property. Payment on the loan is due upon sale of the property or if the program participant no longer uses it as their primary residence. Assistance amounts and loan forgiveness rates are determined by the location of the property. The program allows a maximum purchase price for an existing home of $247,000 as of September 1, 2024. (This figure is established in partnership with HUD and is non-negotiable). 

Down payment and rehab assistance is not guaranteed to all applicants and is based on eligibility and funding availability. 

Click here to review the steps to apply for the Homeownership Program.