Your Home, Your Nebraska

What National Homeownership Month Means If You're Actually Ready to Buy

June is National Homeownership Month, which means a lot of institutions are going to post something about the importance of owning a home.

This is not that post.

This is for the person who has been thinking about buying, maybe for a while, and wants to know what it actually takes. What programs exist. What the real numbers look like. And whether there is a path that actually works for someone with a regular Nebraska income.

Short answer: there is. And a lot of people who would qualify have no idea it exists.

107,073+ Nebraska Families. Nearly $9 Billion. No Tax Dollars.

Since its homeownership program launched, the Nebraska Investment Finance Authority has helped more than 107,073+ Nebraska households purchase a home, financing over $9 billion and providing more than $128 million in down payment assistance.

NIFA is a self-funded state agency. It issues mortgage revenue bonds to raise money, then uses those funds to offer below-market interest rates to qualifying Nebraska homebuyers through a network of participating lenders. No state tax dollars. No outside grant funding.

That means the programs are sustainable, not dependent on an annual budget cycle, and have been running for decades. They exist because Nebraska built a system to make homeownership more accessible. The question is whether you are using it.

The Programs, Explained Without the Jargon

NIFA offers six homeownership loan programs. Here is what each one is actually for.

First Home: For Buyers Who Haven't Owned in Three Years

If you have not owned a primary residence in the past three years, the First Home program is likely your starting point. It offers below-market rates on 30-year loans, conventional, FHA, VA, or USDA Rural Development.

One exception worth knowing: if the home you're buying is in a federally designated Targeted Census Tract, the three-year rule does not apply. Targeted areas exist in Adams, Douglas, Jefferson, Lancaster, Saline, and Scotts Bluff counties, and they come with higher income and purchase price limits. You can check any Nebraska address in seconds using NIFA's Geocoding/Mapping System.

Welcome Home: For Buyers Who Don't Qualify for First Home

Welcome Home is NIFA's program for repeat buyers, or anyone whose income is slightly above the First Home limits. It carries higher income and purchase price limits and is open to buyers regardless of ownership history.

If you tried to qualify for a NIFA loan a few years ago and were told you earned too much, Welcome Home is worth checking again.

HBA and WHA: Down Payment Help That Actually Moves the Needle

The down payment is where most homeownership plans stall. NIFA has two programs specifically designed to close that gap.

The Homebuyer Assistance (HBA) program and the Welcome Home Assistance (WHA) program each pair your first mortgage with a second loan at 1% interest, covering up to 5% of the purchase price for down payment and closing costs. The second loan runs on a 10-year term.

HBA pairs with the First Home program. WHA pairs with Welcome Home. Both programs require a minimum 640 credit score. First-time homebuyers must also complete an approved homebuyer education course before closing, which is available online.

Military Home: For Veterans and Active Service Members

If you are active duty, a veteran, or a surviving spouse, the Military Home program offers NIFA rates on government loan types, FHA, VA, and USDA, through participating lenders. Active military must be a first-time homebuyer. Qualified veterans are exempt from the first-time homebuyer requirement.

Build Home: Lock Your Rate Before Construction Starts

Building a new home in Nebraska? Build Home lets you lock a NIFA interest rate for up to 180 days during construction.

That is not a minor convenience. It means you know your mortgage rate before a single wall goes up, not when construction wraps and the market has moved. For buyers working with builders outside the metro, where new construction is more common and timelines can stretch, this is a real advantage.

Who Actually Qualifies? More People Than You'd Think.

NIFA programs are not designed for people in financial hardship. They are designed for working Nebraska households who earn regular incomes but need some structural help making homeownership pencil out.

Eligibility depends on factors such as income limits, purchase price limits, credit score, loan type and program requirements. Income limits may vary by county and program. A participating lender can review your specific situation and help determine what options may be available.

But before you do, a few things that often surprise people:

1. Income limits are higher than most buyers assume, especially for Welcome Home and for homes in Targeted Census Tracts.
2. You do not have to be low income. NIFA programs serve moderate-income buyers, not just those at the lowest end of the income scale.
3. Active military must meet the first-time homebuyer requirement; qualified veterans are exempt.Repeat buyers are not locked out. Welcome Home and Welcome Home Assistance exist specifically for you.
4. The three-year rule resets. If you owned a home but sold it years ago and have been renting since, you may qualify as a first-time buyer again.

Not sure where you land? NIFA's QualBot (Quinn) on the NIFA homepage walks you through a quick eligibility screening before you talk to anyone. It takes a few minutes and gives you a read on which programs may fit.

How It Actually Works: Three Steps

NIFA does not originate loans directly. Here is the actual process:

1. Step 1. Check your eligibility. Use the QualBot at nifa.org for a quick self-screen, or go straight to a participating lender.
2. Step 2. Connect with a NIFA participating lender. They handle your application and originate the loan under NIFA's guidelines. Use the Find a Mortgage Loan Advisor tool at nifa.org to connect with a NIFA-certified loan advisor near you.
3. Step 3. Close on your home. Follow the standard mortgage closing timeline. If you are a first-time homebuyer, you must complete an approved homebuyer education course before closing, whether or not you are using HBA or WHA. The course is available online and does not take long.

That's the whole process. The NIFA-specific steps happen on the lender's side. Your job is to find a lender who participates and make sure you ask about NIFA programs from the start, since not every lender leads with them unprompted.

One Thing Most Buyers Never Check (But Should)

NIFA maintains a tool called the Geocoding/Mapping System. Enter any Nebraska property address, and it tells you whether that property falls within a federally designated Targeted Census Tract.

If it does, the first-time homebuyer requirement disappears, and income and purchase price limits go up. That one data point has changed the outcome of a lot of buyer conversations.

Before you or your lender conclude you don't qualify, run the address. It takes thirty seconds.

What About Rates?

NIFA rates are updated daily and are consistently competitive with or below conventional market rates.

We don't publish a static rate here because it would be outdated before this post is read. For today's current rates, go to nifa.org/interest-rates.

Your Home, Your Nebraska. Here's Your Next Step.

If you have been waiting for the right time to look into this seriously, June is a reasonable moment to start. The programs exist. The eligibility requirements are more accessible than most buyers expect. And NIFA has been doing this in Nebraska for over 40 years.

Here is what to do today:

1. Run a quick eligibility screen with the QualBot at nifa.org.
2. Find a participating lender using the Mortgage Loan Advisor tool.
3. If you're buying in a non-metro county or considering new construction, ask specifically about the Build Home program.
4. If down payment is the sticking point, ask about HBA or WHA.

Explore all NIFA homebuyer programs at nifa.org/homebuyers-renters

Related Reading

• How Real Estate Agents Can Work With NIFA to Help More Nebraska Buyers Succeed
• How Much House Can I Afford in Nebraska in 2026?
• Credit Scores for Nebraska First-Time Homebuyers: What You Need to Know

---