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Mortgage

2019 FHA Loan Limits in Nebraska

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

In 2019, FHA limits for a single-family home in the Cornhusker State range from $314,827 to $433,550. If you’re looking to purchase a home in Nebraska with an FHA loan, the odds of finding one within those limits are pretty favorable. Estimated median home prices in the majority of the state’s counties sit around or below the $200,000 mark.

This means you’re likely to find an affordable home in Nebraska whether you’re looking for a place in the city or you’d prefer to settle in a more rural part of the state.

Home prices in Nebraska have risen significantly in the past two years, even more so than the national average. While price increases have been most notable outside of the state’s metro areas, home values in Lincoln — the state capital and second largest city after Omaha — saw an 8.4% increase from 2017 to 2018, higher than the country’s average increase of 4%.

Yet, even with rising prices, median prices within the state fall below the standard FHA limit of $314,827. Only three counties in Nebraska — Lincoln, Logan and McPherson — are considered “high-cost,” warranting a higher limit. Their FHA loan limit is $433,550.

Nebraska FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ADAMS$314,827$403,125$487,250$605,525$100,000
ANTELOPE$314,827$403,125$487,250$605,525$50,000
ARTHUR$314,827$403,125$487,250$605,525$113,000
BANNER$314,827$403,125$487,250$605,525$142,000
BLAINE$314,827$403,125$487,250$605,525$141,000
BOONE$314,827$403,125$487,250$605,525$115,000
BOX BUTTE$314,827$403,125$487,250$605,525$110,000
BOYD$314,827$403,125$487,250$605,525$21,000
BROWN$314,827$403,125$487,250$605,525$53,000
BUFFALO$314,827$403,125$487,250$605,525$172,000
BURT$314,827$403,125$487,250$605,525$60,000
BUTLER$314,827$403,125$487,250$605,525$119,000
CASS$314,827$403,125$487,250$605,525$205,000
CEDAR$314,827$403,125$487,250$605,525$122,000
CHASE$314,827$403,125$487,250$605,525$106,000
CHERRY$314,827$403,125$487,250$605,525$135,000
CHEYENNE$314,827$403,125$487,250$605,525$126,000
CLAY$314,827$403,125$487,250$605,525$53,000
COLFAX$314,827$403,125$487,250$605,525$76,000
CUMING$314,827$403,125$487,250$605,525$90,000
CUSTER$314,827$403,125$487,250$605,525$85,000
DAKOTA$314,827$403,125$487,250$605,525$175,000
DAWES$314,827$403,125$487,250$605,525$88,000
DAWSON$314,827$403,125$487,250$605,525$125,000
DEUEL$314,827$403,125$487,250$605,525$81,000
DIXON$314,827$403,125$487,250$605,525$175,000
DODGE$314,827$403,125$487,250$605,525$127,000
DOUGLAS$314,827$403,125$487,250$605,525$205,000
DUNDY$314,827$403,125$487,250$605,525$78,000
FILLMORE$314,827$403,125$487,250$605,525$83,000
FRANKLIN$314,827$403,125$487,250$605,525$67,000
FRONTIER$314,827$403,125$487,250$605,525$63,000
FURNAS$314,827$403,125$487,250$605,525$69,000
GAGE$314,827$403,125$487,250$605,525$79,000
GARDEN$314,827$403,125$487,250$605,525$32,000
GARFIELD$314,827$403,125$487,250$605,525$102,000
GOSPER$314,827$403,125$487,250$605,525$125,000
GRANT$314,827$403,125$487,250$605,525$58,000
GREELEY$314,827$403,125$487,250$605,525$73,000
HALL$314,827$403,125$487,250$605,525$147,000
HAMILTON$314,827$403,125$487,250$605,525$147,000
HARLAN$314,827$403,125$487,250$605,525$93,000
HAYES$314,827$403,125$487,250$605,525$106,000
HITCHCOCK$314,827$403,125$487,250$605,525$65,000
HOLT$314,827$403,125$487,250$605,525$30,000
HOOKER$314,827$403,125$487,250$605,525$86,000
HOWARD$314,827$403,125$487,250$605,525$147,000
JEFFERSON$314,827$403,125$487,250$605,525$85,000
JOHNSON$314,827$403,125$487,250$605,525$89,000
KEARNEY$314,827$403,125$487,250$605,525$172,000
KEITH$314,827$403,125$487,250$605,525$90,000
KEYA PAHA$314,827$403,125$487,250$605,525$105,000
KIMBALL$314,827$403,125$487,250$605,525$92,000
KNOX$314,827$403,125$487,250$605,525$55,000
LANCASTER$314,827$403,125$487,250$605,525$174,000
LINCOLN$433,550$555,000$670,900$833,750$163,000
LOGAN$433,550$555,000$670,900$833,750$163,000
LOUP$314,827$403,125$487,250$605,525$158,000
MADISON$314,827$403,125$487,250$605,525$145,000
MCPHERSON$433,550$555,000$670,900$833,750$163,000
MERRICK$314,827$403,125$487,250$605,525$147,000
MORRILL$314,827$403,125$487,250$605,525$94,000
NANCE$314,827$403,125$487,250$605,525$90,000
NEMAHA$314,827$403,125$487,250$605,525$70,000
NUCKOLLS$314,827$403,125$487,250$605,525$63,000
OTOE$314,827$403,125$487,250$605,525$110,000
PAWNEE$314,827$403,125$487,250$605,525$32,000
PERKINS$314,827$403,125$487,250$605,525$110,000
PHELPS$314,827$403,125$487,250$605,525$93,000
PIERCE$314,827$403,125$487,250$605,525$145,000
PLATTE$314,827$403,125$487,250$605,525$145,000
POLK$314,827$403,125$487,250$605,525$113,000
RED WILLOW$314,827$403,125$487,250$605,525$80,000
RICHARDSON$314,827$403,125$487,250$605,525$79,000
ROCK$314,827$403,125$487,250$605,525$74,000
SALINE$314,827$403,125$487,250$605,525$78,000
SARPY$314,827$403,125$487,250$605,525$205,000
SAUNDERS$314,827$403,125$487,250$605,525$205,000
SCOTTS BLUFF$314,827$403,125$487,250$605,525$142,000
SEWARD$314,827$403,125$487,250$605,525$174,000
SHERIDAN$314,827$403,125$487,250$605,525$87,000
SHERMAN$314,827$403,125$487,250$605,525$94,000
SIOUX$314,827$403,125$487,250$605,525$142,000
STANTON$314,827$403,125$487,250$605,525$145,000
THAYER$314,827$403,125$487,250$605,525$76,000
THOMAS$314,827$403,125$487,250$605,525$137,000
THURSTON$314,827$403,125$487,250$605,525$84,000
VALLEY$314,827$403,125$487,250$605,525$99,000
WASHINGTON$314,827$403,125$487,250$605,525$205,000
WAYNE$314,827$403,125$487,250$605,525$113,000
WEBSTER$314,827$403,125$487,250$605,525$20,000
WHEELER$314,827$403,125$487,250$605,525$133,000
YORK$314,827$403,125$487,250$605,525$100,000

How are FHA loan limits calculated?

Each year, the Federal Housing Administration establishes limits for FHA mortgages to reflect current home values. Loan limits are based on the guidelines in place for conforming loans. Conforming loans are mortgages that meet requirements set by Fannie Mae and Freddie Mac.

The FHA establishes a “floor,” the highest loan amount for low-cost areas. For single-family homes, the 2019 floor is $314,827. The FHA also sets a “ceiling,” the maximum loan amount allowed in high-cost areas. The ceiling in 2019 is $726,525.

In 2019, the standard FHA limits nationwide are as follows:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

For high-cost areas, limits are higher:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Are you eligible for an FHA loan in Nebraska?

The price of the home you are purchasing is just one piece of the puzzle when determining if you qualify for an FHA loan and whether it’s the best type of mortgage for you. You should also consider the amount you plan to put down, your credit history, and other essential factors.

To find out more about FHA loans, including eligibility requirements, take a look at our extensive guide to FHA loans.

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Alaya Linton
Alaya Linton |

Alaya Linton is a writer at MagnifyMoney. You can email Alaya here

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Mortgage

2019 FHA Loan Limits in Georgia

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

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Home prices in the U.S. have been on the rise. For buyers looking to purchase a home with an Federal Housing Administration (FHA) loan, that could mean having to find a different form of financing. Fortunately, FHA loan limits are assessed and adjusted annually to keep up with the trends in home prices.

In 2019, FHA loan limits for a single-family home in Georgia range from $314,827, the standard limit in place for most of the country, to $515,200 in designated “high-cost” counties.

The housing market in most of Georgia is considered “affordable,” current home price trends notwithstanding. Median prices in most of the state fall below $235,000, the estimated average for a U.S. home in late 2018, according to the National Association of Realtors. Even the state’s capital and largest city, Atlanta, has one of the nation’s lowest cost-of-living indexes among large metro areas.

Georgia’s affordability is good news for FHA buyers and their likelihood of finding a property within loan limits. Of the state’s 159 counties, 79% have the standard loan limit of $314,827 in place. For the remaining high-cost counties, only a single county — Greene — has a limit above $400,000, at $515,200 for single-family dwellings. By comparison, the national conforming loan limit for mortgages that follow Fannie Mae and Freddie Mac guidelines increased to $484,350 for 2019.

Naturally, FHA loans are a popular choice for buyers in the Peach State. In 2018, 4.64% of the nation’s FHA loans came from Georgia, a significant percentage for a single state.

Georgia FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
APPLING$314,827$403,125$487,250$605,525$40,000
ATKINSON$314,827$403,125$487,250$605,525$35,000
BACON$314,827$403,125$487,250$605,525$40,000
BAKER$314,827$403,125$487,250$605,525$148,000
BALDWIN$314,827$403,125$487,250$605,525$131,000
BANKS$314,827$403,125$487,250$605,525$130,000
BARROW$379,500$485,800$587,250$729,800$330,000
BARTOW$379,500$485,800$587,250$729,800$330,000
BEN HILL$314,827$403,125$487,250$605,525$55,000
BERRIEN$314,827$403,125$487,250$605,525$64,000
BIBB$314,827$403,125$487,250$605,525$124,000
BLECKLEY$314,827$403,125$487,250$605,525$75,000
BRANTLEY$314,827$403,125$487,250$605,525$214,000
BROOKS$314,827$403,125$487,250$605,525$135,000
BRYAN$314,827$403,125$487,250$605,525$234,000
BULLOCH$314,827$403,125$487,250$605,525$141,000
BURKE$314,827$403,125$487,250$605,525$192,000
BUTTS$379,500$485,800$587,250$729,800$330,000
CALHOUN$314,827$403,125$487,250$605,525$43,000
CAMDEN$314,827$403,125$487,250$605,525$152,000
CANDLER$314,827$403,125$487,250$605,525$65,000
CARROLL$379,500$485,800$587,250$729,800$330,000
CATOOSA$314,827$403,125$487,250$605,525$179,000
CHARLTON$314,827$403,125$487,250$605,525$49,000
CHATHAM$314,827$403,125$487,250$605,525$234,000
CHATTAHOOCHEE$314,827$403,125$487,250$605,525$213,000
CHATTOOGA$314,827$403,125$487,250$605,525$60,000
CHEROKEE$379,500$485,800$587,250$729,800$330,000
CLARKE$341,550$437,250$528,500$656,800$297,000
CLAY$314,827$403,125$487,250$605,525$72,000
CLAYTON$379,500$485,800$587,250$729,800$330,000
CLINCH$314,827$403,125$487,250$605,525$27,000
COBB$379,500$485,800$587,250$729,800$330,000
COFFEE$314,827$403,125$487,250$605,525$69,000
COLQUITT$314,827$403,125$487,250$605,525$70,000
COLUMBIA$314,827$403,125$487,250$605,525$192,000
COOK$314,827$403,125$487,250$605,525$48,000
COWETA$379,500$485,800$587,250$729,800$330,000
CRAWFORD$314,827$403,125$487,250$605,525$124,000
CRISP$314,827$403,125$487,250$605,525$80,000
DADE$314,827$403,125$487,250$605,525$179,000
DAWSON$379,500$485,800$587,250$729,800$330,000
DECATUR$314,827$403,125$487,250$605,525$90,000
DEKALB$379,500$485,800$587,250$729,800$330,000
DODGE$314,827$403,125$487,250$605,525$54,000
DOOLY$314,827$403,125$487,250$605,525$40,000
DOUGHERTY$314,827$403,125$487,250$605,525$148,000
DOUGLAS$379,500$485,800$587,250$729,800$330,000
EARLY$314,827$403,125$487,250$605,525$40,000
ECHOLS$314,827$403,125$487,250$605,525$135,000
EFFINGHAM$314,827$403,125$487,250$605,525$234,000
ELBERT$314,827$403,125$487,250$605,525$53,000
EMANUEL$314,827$403,125$487,250$605,525$41,000
EVANS$314,827$403,125$487,250$605,525$60,000
FANNIN$314,827$403,125$487,250$605,525$170,000
FAYETTE$379,500$485,800$587,250$729,800$330,000
FLOYD$314,827$403,125$487,250$605,525$114,000
FORSYTH$379,500$485,800$587,250$729,800$330,000
FRANKLIN$314,827$403,125$487,250$605,525$95,000
FULTON$379,500$485,800$587,250$729,800$330,000
GILMER$314,827$403,125$487,250$605,525$125,000
GLASCOCK$314,827$403,125$487,250$605,525$51,000
GLYNN$314,827$403,125$487,250$605,525$214,000
GORDON$314,827$403,125$487,250$605,525$128,000
GRADY$314,827$403,125$487,250$605,525$70,000
GREENE$515,200$659,550$797,250$990,800$295,000
GWINNETT$379,500$485,800$587,250$729,800$330,000
HABERSHAM$314,827$403,125$487,250$605,525$140,000
HALL$314,827$403,125$487,250$605,525$199,000
HANCOCK$314,827$403,125$487,250$605,525$131,000
HARALSON$379,500$485,800$587,250$729,800$330,000
HARRIS$314,827$403,125$487,250$605,525$213,000
HART$314,827$403,125$487,250$605,525$130,000
HEARD$379,500$485,800$587,250$729,800$330,000
HENRY$379,500$485,800$587,250$729,800$330,000
HOUSTON$314,827$403,125$487,250$605,525$136,000
IRWIN$314,827$403,125$487,250$605,525$62,000
JACKSON$314,827$403,125$487,250$605,525$192,000
JASPER$379,500$485,800$587,250$729,800$330,000
JEFF DAVIS$314,827$403,125$487,250$605,525$53,000
JEFFERSON$314,827$403,125$487,250$605,525$36,000
JENKINS$314,827$403,125$487,250$605,525$43,000
JOHNSON$314,827$403,125$487,250$605,525$75,000
JONES$314,827$403,125$487,250$605,525$124,000
LAMAR$379,500$485,800$587,250$729,800$330,000
LANIER$314,827$403,125$487,250$605,525$135,000
LAURENS$314,827$403,125$487,250$605,525$75,000
LEE$314,827$403,125$487,250$605,525$148,000
LIBERTY$314,827$403,125$487,250$605,525$153,000
LINCOLN$314,827$403,125$487,250$605,525$192,000
LONG$314,827$403,125$487,250$605,525$153,000
LOWNDES$314,827$403,125$487,250$605,525$135,000
LUMPKIN$314,827$403,125$487,250$605,525$163,000
MACON$314,827$403,125$487,250$605,525$54,000
MADISON$341,550$437,250$528,500$656,800$297,000
MARION$314,827$403,125$487,250$605,525$213,000
MCDUFFIE$314,827$403,125$487,250$605,525$192,000
MCINTOSH$314,827$403,125$487,250$605,525$214,000
MERIWETHER$379,500$485,800$587,250$729,800$330,000
MILLER$314,827$403,125$487,250$605,525$75,000
MITCHELL$314,827$403,125$487,250$605,525$48,000
MONROE$314,827$403,125$487,250$605,525$124,000
MONTGOMERY$314,827$403,125$487,250$605,525$80,000
MORGAN$379,500$485,800$587,250$729,800$330,000
MURRAY$314,827$403,125$487,250$605,525$125,000
MUSCOGEE$314,827$403,125$487,250$605,525$213,000
NEWTON$379,500$485,800$587,250$729,800$330,000
OCONEE$341,550$437,250$528,500$656,800$297,000
OGLETHORPE$341,550$437,250$528,500$656,800$297,000
PAULDING$379,500$485,800$587,250$729,800$330,000
PEACH$314,827$403,125$487,250$605,525$136,000
PICKENS$379,500$485,800$587,250$729,800$330,000
PIERCE$314,827$403,125$487,250$605,525$65,000
PIKE$379,500$485,800$587,250$729,800$330,000
POLK$314,827$403,125$487,250$605,525$86,000
PULASKI$314,827$403,125$487,250$605,525$136,000
PUTNAM$314,827$403,125$487,250$605,525$185,000
QUITMAN$314,827$403,125$487,250$605,525$96,000
RABUN$314,827$403,125$487,250$605,525$167,000
RANDOLPH$314,827$403,125$487,250$605,525$47,000
RICHMOND$314,827$403,125$487,250$605,525$192,000
ROCKDALE$379,500$485,800$587,250$729,800$330,000
SCHLEY$314,827$403,125$487,250$605,525$76,000
SCREVEN$314,827$403,125$487,250$605,525$39,000
SEMINOLE$314,827$403,125$487,250$605,525$47,000
SPALDING$379,500$485,800$587,250$729,800$330,000
STEPHENS$314,827$403,125$487,250$605,525$100,000
STEWART$314,827$403,125$487,250$605,525$45,000
SUMTER$314,827$403,125$487,250$605,525$76,000
TALBOT$314,827$403,125$487,250$605,525$83,000
TALIAFERRO$314,827$403,125$487,250$605,525$41,000
TATTNALL$314,827$403,125$487,250$605,525$60,000
TAYLOR$314,827$403,125$487,250$605,525$45,000
TELFAIR$314,827$403,125$487,250$605,525$33,000
TERRELL$314,827$403,125$487,250$605,525$148,000
THOMAS$314,827$403,125$487,250$605,525$138,000
TIFT$314,827$403,125$487,250$605,525$115,000
TOOMBS$314,827$403,125$487,250$605,525$80,000
TOWNS$314,827$403,125$487,250$605,525$155,000
TREUTLEN$314,827$403,125$487,250$605,525$31,000
TROUP$314,827$403,125$487,250$605,525$126,000
TURNER$314,827$403,125$487,250$605,525$51,000
TWIGGS$314,827$403,125$487,250$605,525$124,000
UNION$314,827$403,125$487,250$605,525$129,000
UPSON$314,827$403,125$487,250$605,525$64,000
WALKER$314,827$403,125$487,250$605,525$179,000
WALTON$379,500$485,800$587,250$729,800$330,000
WARE$314,827$403,125$487,250$605,525$65,000
WARREN$314,827$403,125$487,250$605,525$31,000
WASHINGTON$314,827$403,125$487,250$605,525$53,000
WAYNE$314,827$403,125$487,250$605,525$70,000
WEBSTER$314,827$403,125$487,250$605,525$18,000
WHEELER$314,827$403,125$487,250$605,525$56,000
WHITE$314,827$403,125$487,250$605,525$136,000
WHITFIELD$314,827$403,125$487,250$605,525$125,000
WILCOX$314,827$403,125$487,250$605,525$28,000
WILKES$314,827$403,125$487,250$605,525$61,000
WILKINSON$314,827$403,125$487,250$605,525$20,000
WORTH$314,827$403,125$487,250$605,525$148,000

How are FHA loan limits calculated?

Limits for FHA loans are established by the FHA annually to cap the dollar amount of mortgages it will insure. Loan limits are based in part on estimated median home prices in a particular area, as well as on the limits in place for conforming loans. The FHA sets a “floor,” the lowest limit, and a “ceiling,” the maximum amount allowed.

Loan limits are established for single-family as well as multi-family homes. In 2019, the standard FHA limits are as follows:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

In designated high-cost areas, limits are higher:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Georgia?

With low down payment requirements and flexible borrower criteria, FHA loans can be a great financing option for many homebuyers, especially first-time buyers. But there are several factors to consider when financing with an FHA loan. Find out all you need to know, including eligibility requirements and the pros and cons, in our guide to FHA loans.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alaya Linton
Alaya Linton |

Alaya Linton is a writer at MagnifyMoney. You can email Alaya here

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Nebraska First-Time Homebuyer Programs

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Are you a first-time homebuyer looking to purchase in the Cornhusker State? If so, Nebraska has multiple statewide programs to help you realize your homeownership dreams.

From assistance with the down payment to low interest rates that will help stretch your purchasing dollars, these programs aim to meet common roadblocks new homebuyers often face.

Read on for details about Nebraska programs available to first-time homebuyers.

Nebraska first-time homebuyer programs

Two agencies in Nebraska have programs for first-time buyers. The Nebraska Investment Finance Authority (NIFA) offers four programs, which include down payment and closing cost assistance, financing for military personnel and low-interest-rate mortgages. The Northern Ponca Housing Authority (NPHA) provides down payment and closing cost assistance specifically to members of Native American tribes who reside in select areas of the state.

To qualify for any of the programs, you must be a Nebraska resident. In most cases, first-time buyer status is required; buyers who have not owned a home in the last three years are also eligible.

The programs offered by both NIFA and NPHA target Nebraskans in low- to moderate-income households. As a result, all the programs have income restrictions, dependent on family size and the county in which you live.

First Home Plus Program

With this NIFA program, buyers can choose between multiple loan options.

What is it?

Requirements

  • Open to first-time buyers or previous buyers who have not owned in the past three years.
  • Minimum credit score of 640.
  • Income must fall within programs limits. Maximum household income limits range from $74,900 to $95,200, depending on county and family size. Limits for “target areas” range from $89,880 to $114,240.Target areas are specific areas identified by the federal government as economically distressed. Adams, Douglas, Jefferson, Lancaster and Scotts Bluff counties all have target areas. Use NIFA’s interactive map to determine whether or not a specific home is inside a target area.
  • Purchase price must be under program limits. Maximum purchase price limits are as follows:
    Non-Target area

    • Single-family: $250,000
    • Two-family: $320,000
    • Three-family: $390,000
    • Four-family: $480,000

    Target area

    • Single-family: $300,000
    • Two-family: $345,000
    • Three-family: $475,000
    • Four-family: $590,000
  • Maximum total debt-to-income ratio (DTI) of 45% (50% DTI allowed for borrowers with a credit score of 660 or higher. Exceptions made for borrowers whose loans are manually underwritten or who do not have credit scores.)
  • Must complete an approved homebuyer education class in-person or online.
  • Two-, three- and four-unit properties must be at least five years old. (Exceptions made for duplexes in target areas.)
  • Must occupy the home as your primary residence within 60 days.

How to apply

To apply to the First Home Plus Program, you must complete the following steps:

  1. Check your eligibility on NIFA’s website. If you meet the requirements, you will receive a NIFA Homebuyer Certificate.
  2. Find a participating NIFA lender in your area to begin the preapproval process. (You will need to provide the lender with your NIFA Homebuyer Certificate.)
  3. Take one of NIFA’s approved homebuyer education courses.
  4. Work with a real estate professional to find a property.
  5. Once you identify a property, you can submit your full application for approval.

Learn more

Military Home Program

In NIFA’s Military Home Program, active members of the service and qualified veterans can apply for financing.

What is it?

  • A 30-year fixed-rate mortgage with the option of a VA loan, an FHA loan or a USDA loan.
  • Offers competitive interest rates.
  • Low or no down payment required.

Requirements

  • Open to first-time buyers (or previous buyers who have not owned in the past three years) who are actively employed in the military, and to qualified veterans and spouses. (Qualified veterans and spouses do not need to be first-time buyers.)
  • Qualified veterans must submit DD214 Form (Certificate of Release or Discharge from Active Duty).
  • Minimum credit score of 640.
  • Income must fall within programs limits. Maximum household income limits range from $74,900 to $95,200, depending on county and family size. Limits for target areas range from $89,880 to $114,240.
  • Purchase price must be under program limits. Maximum purchase price limits are as follows:
    Non-Target area

    • Single-family: $250,000
    • Two-family: $320,000
    • Three-family: $390,000
    • Four-family: $480,000

    Target area

    • Single-family: $300,000
    • Two-family: $345,000
    • Three-family: $475,000
    • Four-family: $590,000
  • Maximum total DTI of 45% (50% DTI allowed for borrowers with a credit score of 660 or higher. Exceptions made for borrowers whose loans are manually underwritten or who do not have credit scores).
  • Must complete an approved homebuyer education class in-person or online.
  • Two-, three- and four-unit properties must be at least five years old. (Exceptions made for duplexes in target areas.)
  • Must occupy the home as your primary residence within 60 days.

How to apply

To apply for NIFA’s Military Home Program, you must complete the following steps:

  1. Check your eligibility on NIFA’s website. If you meet the requirements, you will receive a NIFA Homebuyer Certificate.
  2. Find a participating NIFA lender in your area to begin the preapproval process. (You will need to provide the lender with your NIFA Homebuyer Certificate.)
  3. Take one of NIFA’s approved homebuyer education courses.
  4. Work with a real estate professional to find a property.
  5. Once you identify a property, you can submit your full application for approval.

Learn more

First Home Targeted Program

With this NIFA program, you can purchase a home in one of Nebraska’s target areas.

What is it?

  • A 30-year fixed-rate mortgage with options including conventional, FHA and USDA loans.
  • Offers low mortgage insurance premiums on conventional loans.
  • Offers competitive interest rates.
  • Low or no down payment required.

Requirements

  • Open to any buyer purchasing a home in a target area.
  • Minimum credit score of 640.
  • Income must fall within programs limits. Maximum household income limits range from $89,880 to $114,240, depending on county and family size.
  • Purchase price must be under program limits. Maximum purchase price limits are as follows:
    • Single-family: $300,000
    • Two-family: $345,000
    • Three-family: $475,000
    • Four-family: $590,000
  • Maximum total DTI of 45% (50% DTI allowed for borrowers with a credit score of 660 or higher. Exceptions made for borrowers whose loans are manually underwritten or who do not have credit scores).
  • Must complete an approved homebuyer education class in-person or online.
  • Two-, three- and four-unit properties must be at least five years old. (Exceptions made for duplexes in target areas.)
  • Must occupy the home as your primary residence within 60 days.

How to apply

To apply to the First Home Targeted Program, complete the following steps:

  1. Check your eligibility on NIFA’s website. If you meet the requirements, you will receive a NIFA Homebuyer Certificate.
  2. Find a participating NIFA lender in your area to begin the preapproval process. (You will need to provide the lender with your NIFA Homebuyer Certificate.)
  3. Take one of NIFA’s approved homebuyer education courses.
  4. Work with a real estate professional to find a property.
  5. Once you identify a property, you can submit your full application for approval.

Learn more

Homebuyer Assistance Program

This NIFA program helps buyers with financing and provides down payment and closing cost assistance.

What is it?

  • A 30-year fixed-rate mortgage with options including conventional, FHA, VA and USDA loans.
  • Offers low interest rates.
  • Down payment or closing cost assistance of up to 5% of purchase price via a 10-year second mortgage at 1% interest.

Requirements

  • Open to first-time buyers or previous buyers who have not owned in the past three years.
  • Minimum credit score of 640.
  • Income must fall within programs limits. Maximum household income limits range from $74,900 to $95,200, depending on county and family size. Limits for target areas range from $89,880 to $114,240.
  • Purchase price must be under program limits. Maximum purchase price limits are as follows:
    Non-Target area

    • Single-family: $250,000
    • Two-family: $320,000
    • Three-family: $390,000
    • Four-family: $480,000

    Target area

    • Single-family: $300,000
    • Two-family: $345,000
    • Three-family: $475,000
    • Four-family: $590,000
  • Maximum total DTI of 45% (50% DTI allowed for borrowers with a credit score of 660 or higher. Exceptions made for borrowers whose loans are manually underwritten or who do not have credit scores).
  • You must contribute a minimum of $1,000.
  • Must complete an approved homebuyer education class in-person or online
  • Two-, three- and four-unit properties must be at least five years old. (Exceptions made for duplexes in target areas.)
  • Must occupy the home as your primary residence within 60 days.

How to apply

To apply for the Homebuyer Assistance Program, complete the following steps:

  1. Check your eligibility on NIFA’s website. If you meet the requirements, you will receive a NIFA Homebuyer Certificate.
  2. Find a participating NIFA lender in your area to begin the preapproval process. (You will need to provide the lender with your NIFA Homebuyer Certificate.)
  3. Take one of NIFA’s approved homebuyer education courses.
  4. Work with a real estate professional to find a property.
  5. Once you identify a property, you can submit your full application for approval.

Learn more

NPHA Down Payment Assistance Program

The Northern Ponca Housing Authority offers eligible applicants help with their down payment and closing costs.

What is it?

  • Down payment assistance (DPA) via a forgivable 0% interest second mortgage with no monthly payments.
  • A portion of the DPA can be used for closing costs.
  • Up to 25% of down payment assistance can be used toward the rehabilitation of the property.

Requirements

  • Must be a member of a federally recognized Native American tribe.
  • Income must fall within established limits, based on the higher of county or federal HUD limit for low-income families.
  • Purchase price must be within program limits, based on HUD Total Development Cost (TDC) limit.
  • Must satisfy the credit requirements of the first mortgage lender.
  • Must take an NHPA-approved homebuyer education class.
  • Must occupy the home as your primary residence.
  • The home must be located within NPHA’s service area.
  • Property must be a single-family home. (Condos, townhouses and modular homes are eligible, but mobile homes without a permanent foundation are not.)

How to apply

Interested applicants apply directly to NPHA. You will need to submit a completed application, required documentation and a Homebuyer Education Certificate.

The program is operated on a first-come, first-served basis with preference given to applicants enrolled in the Ponca Tribe of Nebraska.

For more information, contact NPHA at (402) 379-8224 or (800) 367-2320.

Learn more

National first-time homebuyer programs

As a new buyer, it’s crucial that you explore all your financing options to ensure you are buying a home on the most affordable terms.

In addition to the state programs we highlighted here, there are other financing options on the national level that can help new buyers purchase their homes.

FHA, VA and USDA loans all have features that appeal to new buyers. Additionally, Freddie Mac and Fannie Mae offer programs that tout low down payments and other favorable terms. For details on these and other programs available, check out LendingTree’s guide to first-time homebuyer programs. (LendingTree is the parent company of MagnifyMoney.)

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alaya Linton
Alaya Linton |

Alaya Linton is a writer at MagnifyMoney. You can email Alaya here

TAGS:

Compare Mortgage Loan Offers for Free

Home Purchase Quotes

Home Refinance Quotes

(It only takes 3 minutes!)

NMLS #1136 Terms & Conditions Apply