Omaha 100 Homebuyer Assistance

What is Omaha 100 Homebuyer Assistance?

Omaha 100 Homebuyer Assistance is a second mortgage for homebuyers in Omaha, Nebraska, administered by Omaha 100, Inc. (partner of City of Omaha Planning Dept / Housing & Community Development).

• Omaha 100, Inc. is the City of Omaha's contracted nonprofit lender providing homebuyers with financial guidance, underwriting, and lending products including down payment assistance and City-backed second mortgages. Products are accessible across a range of credit scores and include conventional loans up to 97% LTV and second-mortgage products that eliminate the need for PMI.
• Down payment assistance up to 20% of price / $30,000.
• City-backed second mortgages.
• Eliminates need for PMI.
• Accessible across a range of credit scores.
• Conventional up to 97% LTV.
• Funding comes from City of Omaha (CDBG/HOME) / City-backed second mortgages.

How much assistance does it provide?

Omaha 100 Homebuyer Assistance offers up to $30,000 in assistance.

• Amounts are the program's published maximums, not an offer — Omaha 100, Inc. (partner of City of Omaha Planning Dept / Housing & Community Development) determines any individual award.

Do you have to pay it back?

Omaha 100 Homebuyer Assistance is a second mortgage and is repaid under the terms set by Omaha 100, Inc. (partner of City of Omaha Planning Dept / Housing & Community Development).

• The assistance is recorded in second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Omaha 100 Homebuyer Assistance is open to buyers who will live in the home as their primary residence.

What are the income limits?

Omaha 100 Homebuyer Assistance limits household income to 80% of the area median income, which varies by county and household size.

• Total household income at or below 80% of Area Median Income (HUD).
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Where does it apply?

Omaha 100 Homebuyer Assistance serves buyers purchasing in Omaha, Nebraska.

How do you apply?

Applications for Omaha 100 Homebuyer Assistance go through Omaha 100, Inc. (partner of City of Omaha Planning Dept / Housing & Community Development), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact Omaha 100, Inc. (partner of City of Omaha Planning Dept / Housing & Community Development) to reserve funds

   Funds are reserved with the provider 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.