hey prescott.
See what you qualify for

Build Home

Statewide, Nebraska

Last verified
See what you qualify forOfficial program site →
Income limit

$159,180

The household income limit the program publishes

Price cap

$470,000

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is Build Home?

Build Home is a deferred second loan for homebuyers in Statewide, Nebraska.

  • NIFA new-construction first-mortgage product offering up to 180-day extended rate-lock during the construction period. 640 FICO / 45% DTI; 660 FICO / 50% DTI. Pairs with FHA, VA, USDA, or Conventional underwriting. Statewide.
  • The NIFA Build Home Program is designed for Nebraskans who want to build a new primary residence rather than purchase an existing home. The program lets eligible homebuyers lock in a NIFA mortgage interest rate for up to 180 days while their home is under construction, providing predictable monthly payments and reducing rate-risk uncertainty during the build period. Build Home pairs with a 30-year fixed first mortgage (Conventional, FHA, VA, or USDA Rural Development) at NIFA's posted Build Home rate.
  • eligibility is limited to new-construction single-family homes anywhere in Nebraska as well as certain modular or factory-built homes that meet NIFA and lender requirements.
  • Funding comes from State and Bond.

Do you have to pay it back?

Build Home is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Standard 30-year fixed-rate first-mortgage amortization and extended 180-day rate-lock during construction phase.
  • The assistance is recorded in 1st Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Build Home is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Federally designated NIFA target census tracts and qualified veterans waive the first-time-homebuyer requirement. Other exceptions may be granted by NIFA on a case basis (loss of home by divorce with no proceeds, natural disaster, or forced job relocation).
  • The home is occupied as a primary residence
  • On credit: 640 minimum representative mid-FICO (45% max DTI). 660+ FICO allows up to 50% DTI.
  • A completed homebuyer education course, through NIFA-approved homebuyer education providers (Framework, eHome America, HUD-approved counseling agencies, NeighborWorks Lincoln, NeighborWorks Northeast Nebraska, and other NIFA-approved counselors).
  • Residency: Property must be located in Nebraska and serve as borrower's principal residence within 60 days of closing.
  • Citizenship or immigration status: U.S. citizen, permanent resident alien, or qualifying non-permanent resident alien per first-mortgage product overlays.
  • Borrowers must plan to build a new primary residence in Nebraska, meet NIFA income and purchase-price limits, and satisfy standard credit and underwriting guidelines. First-time homebuyer required (waived for qualified veterans and in NIFA-designated target census tracts). Owner-occupied within 60 days of closing. Income up to $104,200 (1-2 person non-targeted) / $159,180 (3+ person targeted). Acquisition cost within NIFA limits ($398,000 non-targeted / $485,500 targeted, 1 unit, effective 7/7/2025). 640 mid-FICO minimum (45% DTI); 660 FICO permits 50% DTI. $1,000 min borrower contribution. NIFA-approved homebuyer education required for first-time homebuyers prior to closing.

The program excludes

  • Purchases above the $470,000 price cap
  • Households above $159,180

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Build Home limits household income to $159,180.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Build Home caps the purchase price at $470,000.

  • Eligible property types include Newly constructed single-family detached homes and certain modular or factory-built homes that meet NIFA and lender requirements.
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

Build Home names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Build Home serves buyers purchasing in Statewide, Nebraska.

  • The program targets specific areas: NIFA-designated target areas (federally qualified census tracts under IRS Section 143) where the FTHB requirement is waived and higher income / purchase-price limits apply. Use NIFA's Geocoding/Mapping System to verify a specific address.

How do you apply?

Applications for Build Home go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through NIFA-approved homebuyer education providers (Framework, eHome America, HUD-approved counseling agencies, NeighborWorks Lincoln, NeighborWorks Northeast Nebraska, and other NIFA-approved counselors)..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Reserved by approved participating lender via NIFA's Lender Online portal at time of rate lock; rate lock extends up to 180 days during construction., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

Other programs in Statewide, Nebraska

See every program in Statewide, Nebraska →

90-second match

Not sure which you qualify for?

Answer 9 questions and we'll match you to every program you can actually use — in about 90 seconds. No SSN, no credit pull.

Find my programs