Single Family Rehab Webinar Recap

Single Family Rehab Webinar Recap

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. 

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Single Family Rehab Webinar Recap

Speakers: 

Kelly Adamson, Three Rivers Housing Development Corporation 

Sharon Hueftle, South Central Economic Development District 

Roger Nadrchal, NeighborWorks Northeast Nebraska 

In this webinar, we heard from three speakers with expertise in preserving and expanding the availability of single-family homes in rural Nebraska. Our first presenter was Kelly Adamson, executive director of the Three Rivers Housing Development Corporation. Kelly told us about Three Rivers’ Purchase/Rehab/Resale Program (PRR), which is a developer-sponsored program that helps eligible applicants at or below 100% area median income (AMI) purchase their first homes. The program features down payment/closing cost assistance of up to $25,000 or 20% of the purchase price. 

Sharon Hueftle, executive director of the South Central Economic Development District, spoke next about her organization’s impact throughout SCEDD’s 13-county footprint. They utilize trust funds, as well as CDBG (community development block grant) funds, in order to finance owner-occupied rehab. SCEDD’s rural workforce housing fund supports rehab with investments of at least 50% of a home’s assessed value, in addition to loans for new construction. 

Our final speaker was Roger Nadrchal, chief executive officer of NeighborWorks Northeast Nebraska. Roger outlined for us how NWNEN upholds its mission “to develop housing opportunities, empower individuals and families, and strengthen and revitalize communities.” Their Purchase/Rehab/Resell program assists homebuyers at or below 120% AMI. Eligible homebuyers who wish to participate must complete eight hours of Homebuyer Education. With this program, NWNEN purchases the home, arranges and oversees rehabilitation which is completed by local contractors, and then sells it to homebuyer. Mortgage lenders provide funds for closing, with NWNEN providing Down Payment Closing Cost assistance. 

nifa.org 

threerivershousing.net 

scedd.us 

nwnen.org