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.

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.

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.

SENCA HOMES Down Payment Assistance is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through SENCA Homebuyer Education class. Must be a first-time homebuyer; must complete SENCA's Homebuyer Education class; must receive pre-approval for a first mortgage; income eligibility determination required (pre-application).

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.

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

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