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Homeownership

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

NeighborWorks Lincoln’s Homeownership program is here to take away some of the mystery behind home purchase, and, for eligible buyers, provide down payment assistance and rehabilitation funds to help Lincoln families purchase their first home! The homeownership program has three key components: 

  • Homebuyer Education
  • Down Payment Assistance
  • Rehabilitation Assistance 

Ready to start your homeownership journey? Apply today

Homebuyer Education

We provide a HUD-approved pre-purchase course designed to prepare you for home ownership. The Homebuyer Education Program is a series of four (4) in-person classes, typically held on the second and third Mondays and Wednesdays of each month, from 6:00pm – 8:30pm. 

During the Homebuyer Education course, you will learn how to:

  • analyze and manage finances, budget, and credit
  • evaluate housing affordability
  • work with realtors and banks 
  • understand financial paperwork, closing costs, and the home buying process
  • determine the amount of money needed for home purchase

Homebuyer education is available for all residents, regardless of income. 

Due to program popularity, clients must sometimes wait 1 to 3 months before being accepted into a course. NeighborWorks maintains a waiting list, though, and clients are contacted when a spot is available. Childcare is not currently available and all adults in the household must attend all four sessions. If you have special needs or would be more comfortable in a course provided in a language other than English, please let us know and we will see what we can do.

View Homebuyer Education calendar

Down Payment Assistance (DPA)

We provide DPA to help with the required down-payment and closing costs that go along with purchasing a home. 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. Financial assistance also covers a limited rehabilitation scope typically focused on structural repairs or upgrades that will help avoid unexpected maintenance for the first three years. 

Down payment assistance is provided through an interest free, payment deferred loan. This assistance loan covers a 5% down payment and closing costs 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. Down payment 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 $238,165 as of 9/1/2022. (This figure is established in partnership with HUD and is non-negotiable). 

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

See if you meet eligibility requirements

 

Need more clarification on how the program works? Learn more

Our Sponsors

  • Bob and Candy Campbell
  • Union Bank & Trust
  • Capitol Heating & Air Conditioning, Inc.
  • Cornhusker Bank
  • HBE
  • UNICO
  • US Bank
    US Bank
  • New Generation Construction
  • fnbo
  • Brester Construction
  • Ameritas
    Ameritas
  • White Castle Roofing
    White Castle Roofing
  • West Gate Bank
    West Gate Bank
  • Sinclair Hille Architects
    Sinclair Hille Architects
  • South of Downtown Community Development Organization
    South of Downtown Community Development Organization
  • Nebraska Realty
    Nebraska Realty
  • Lincoln Community Foundation
    Lincoln Community Foundation
  • Allo
    Allo
  • HomeServices Title
    HomeServices Title
  • Pinnacle Bank
    Pinnacle Bank

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