Nebraska Homeowner Assistance Fund to close application portal on June 30

Nebraska Homeowner Assistance Fund to close application portal on June 30

Current rates

Program
Name
Conventional
Loan Rate
Government
Loan Rate
Military Home N/A 5.375%*
First Home Targeted 5.875%* 5.375%*
First Home 6.125%* 5.625%*
Homebuyer Assistance (HBA) 6.375%* - 1st loan
1.000%* - 2nd loan
5.875%* - 1st loan
1.000%* - 2nd loan
Welcome Home++ 6.875%* 6.375%*
Welcome Home Assistance (WHA)++ 7.125%* - 1st loan
1.000%* - 2nd loan
6.625%* - 1st loan
1.000%* - 2nd loan

Last changed 07/23/2024 at 9:00 a.m
*This is not an advertisement for credit as defined in Reg.Z; contact a participating NIFA lender for Annual Percentage Rate (APR) information. Rates are subject to change without prior notice. 

++An origination fee up to 0.50% of the loan amount may be charged by Lender.

General

Jun 11, 2023

Nebraska Homeowner Assistance Fund to close application portal on June 30

The Nebraska Homeowner Assistance Fund, established in February 2022 to prevent mortgage delinquencies, defaults, foreclosures and displacement for Nebraska homeowners, will close its application portal on June 30, 2023. Homeowners who visit the portal after June 30 will be referred to an online waitlist.

Nebraska has distributed over $30 million for the program thus far from the U.S. Treasury to assist income-qualified, pandemic-impacted homeowners. NHAF provides up to $40,000 in relief per household to homeowners who experienced a COVID-19 related financial hardship that began or continued after January 21, 2020.

“Nebraska Investment Finance Authority aims to help as many impacted homeowners as possible before the NHAF dollars are exhausted,” said Shannon Harner, executive director of NIFA. “This fund has helped 2,568 homeowners stay in their residence with 48.91% of those assisted classified as socially disadvantaged.”

Waitlist: Homeowners visiting the application portal after June 30 will be referred to an online waitlist where they will provide contact information, answer pre-qualification questions and identify what type of assistance they are seeking. Priority will be given to applications completed prior to June 30 that are already in the program queue, then waitlist applications for those facing an active foreclosure, and then waitlist applications by date received.

If funds become available after June 30, waitlisted applicants will be contacted and given a secure login to the NHAF portal to complete their application for homeowner assistance. Because all applications completed prior to June 30 will be processed first, it is difficult to estimate when, and how many, waitlist applicants will be notified to complete the full application process. Those on the waitlist who need immediate assistance after applying should speak to a HUD-certified housing counselor.

Qualifications: The household income must be equal to or less than 100% Area Median Income for the county of residence to be eligible for assistance. At least one member of the household must have been financially impacted by the pandemic after January 21, 2020. Assistance can only be provided for the homeowner’s primary residence.

How to apply: Nebraskans can apply online through June 30 at NebraskaHAF.com. An online waitlist will be available after June 30. A call center is also available to provide assistance Monday through Friday from 8:00 a.m. to 5:00 p.m. (CDT). The call center number is 1-844-565-7146.