First Time Homebuyer program

What is First Time Homebuyer program?

First Time Homebuyer program is a deferred second loan for homebuyers in Lincoln, Nebraska.

• NWL First-Time Homebuyer education and counseling program; pairs with DPA soft-second to make ownership feasible for moderate-income first-time buyers in Lincoln. $238,165 max purchase. 640 FICO. Lancaster County 1-year residency required.
• The NeighborWorks Lincoln First Time Homebuyer Program guides first-time buyers in Lincoln through the homebuying process from start to finish. The program includes the four-class NWL Homebuyer Education curriculum (covering the loan process, terminology, budgeting, choosing a real estate agent, home inspections, home maintenance and more) plus 1:1 financial counseling, post-education access to NWL's Down Payment Assistance soft-second program, and ongoing post-purchase support. Maximum purchase price $238,165. Eligible buyers must be Lancaster County residents for >=1 year, be first-time homebuyers (no homeownership in past 3 years), and meet program income limits. Pairs naturally with NIFA HBA / Welcome Home Assistance first mortgages.
• Funding comes from Federal, HOME, CDBG, and City.

Do you have to pay it back?

First Time Homebuyer program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Per first-mortgage product (typically 30-year fixed amortization).
• 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?

First Time Homebuyer program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

First Time Homebuyer program limits household income to 120% of the area median income, which varies by county and household size.

• NWL FTHB program income range $57,200-$126,563 reflects HUD AMI by household size for the Lincoln MSA (50% AMI floor / 120% AMI ceiling for various property types).
• 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?

First Time Homebuyer program caps the purchase price at $238,165.

• Eligible property types include Existing single-family homes within Lincoln city limits and some condos/townhouses per NWL underwriting.
• New construction is not eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

First Time Homebuyer program 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?

First Time Homebuyer program serves buyers purchasing in Lincoln, Nebraska.

• The program targets specific areas: NWL Partner Neighborhoods (Malone/Hawley, Capitol View) receive enhanced DPA incentives.

How do you apply?

Applications for First Time Homebuyer program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through NeighborWorks Lincoln 4-class Homebuyer Education program (taught by NWL-certified instructors) plus 1:1 financial counseling. Class attendance required prior to receiving DPA / closing..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Application submitted through NWL Homeownership Department; education classes offered on rotating schedule throughout the year., and are subject to availability.

3. 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.