NIFA Announces Rural Workforce Housing Match Program Awards

NIFA Announces Rural Workforce Housing Match Program Awards

Current rates

Program
Name
Government
Loan Rate
Conventional
Loan Rate
Military Home2.250%*N/A
First Home Targeted2.250%*2.750%*
First Home2.500%*3.000%*
Homebuyer Assistance (HBA)3.000%* - 1st loan
1.000%* - 2nd loan
3.500%* - 1st loan
1.000%* - 2nd loan

Last changed 11/18/21 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. 

General

NIFA Announces Rural Workforce Housing Match Program Awards

The Nebraska Investment Finance Authority (NIFA) has awarded Rural Workforce Housing Match (RWH Match) Program funds to applicants that have also received an award of Rural Workforce Housing Funds from the Department of Economic Development (“DED”). NIFA’s RWH Match program was established within the Nebraska Opportunity Fund (“NOF”) for purposes of promoting, developing, implementing and financing rural workforce housing by providing match funds to applicants making applications to the Rural Workforce Housing Fund (“RWHF”) administered by the Department of Economic Development (“DED”). Below are the details for the 2021 recipients:

RECIPIENTRWH MATCH
Aurora Housing Development Corporation$250,000
Cozad Development Corporation$200,000
Cuming County Economic Development, Inc.$200,000
Gothenburg Improvement Company$200,000
Keith County Housing Development Corporation, Inc.$250,000
McCook Economic Development Corporation$163,745
Pender Community Development, Inc.$250,000
Seward County Chamber & Development Partnership$200,000
Twin Cities Development Association, Inc.$163,745

Funds from the RWH Match are limited to a maximum of $250,000 per recipient and may not exceed (33%) of the total amount of funds proposed to be invested by the recipient. The RWH Match funds must be deployed by the recipient as revolving funds to insure the continual utilization of the funds in support of RWHF initiatives.

RWH Match funds will not be available for DED’s second round of funding for RWHF. For more information about this and other NIFA programs, please visit www.nifa.org.