SENCA HOMES Down Payment Assistance

What is SENCA HOMES Down Payment Assistance?

SENCA HOMES Down Payment Assistance is a deferred second loan for homebuyers in Nebraska, administered by Southeast Nebraska Community Action Partnership, Inc. (SENCA).

• SENCA HOMES provides financial assistance to eligible first-time homebuyers to purchase a home and make health-and-safety improvements in SENCA's six-county southeast Nebraska service area. Down payment assistance is provided through a low-interest deferred loan, and eligible buyers may also receive a rehabilitation grant for needed repairs to the purchased home.
• Down payment assistance up to 20% of purchase price ($15,000 max, $1,500 min) via low-interest deferred loan.
• Optional rehab grant up to $15,000 for needed repairs/health-and-safety improvements.

How much assistance does it provide?

SENCA HOMES Down Payment Assistance offers between $1,500 and $15,000 in assistance.

• Amounts are the program's published maximums, not an offer — Southeast Nebraska Community Action Partnership, Inc. (SENCA) determines any individual award.

Do you have to pay it back?

SENCA HOMES Down Payment Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

SENCA HOMES Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

SENCA HOMES Down Payment Assistance sets its income limit as follows: Household income must not exceed 80% or 100% of area median income depending on funding source.

• 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.

Where does it apply?

SENCA HOMES Down Payment Assistance serves buyers purchasing anywhere in Nebraska.

How do you apply?

Applications for SENCA HOMES Down Payment Assistance go through Southeast Nebraska Community Action Partnership, Inc. (SENCA), 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 SENCA Homebuyer Education class.

2. 2

   Contact Southeast Nebraska Community Action Partnership, Inc. (SENCA) 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.