What Are NIFA Homebuyer Programs?
NIFA homebuyer programs are statewide housing initiatives associated with the Nebraska Investment Finance Authority. These programs are commonly used by buyers in Lincoln, Omaha, and communities throughout Nebraska to help make purchasing a home more affordable.
NIFA programs are often paired with FHA or conventional mortgages and may include down payment assistance, closing cost support, or favorable loan structures depending on the specific program. The goal is to support responsible, long-term homeownership rather than short-term affordability.
NIFA assistance is typically structured as a second loan or other form of assistance that works alongside the primary mortgage. Program terms, income limits, purchase price limits, and repayment conditions vary and should be reviewed carefully before selecting a final loan structure.
While NIFA programs can be a strong option for many buyers, they are not required for everyone. Some buyers may already qualify for loan programs that require little or no down payment without additional assistance.
Potential Benefits of NIFA Programs
NIFA programs are designed to expand access to homeownership while promoting long-term affordability.
Down Payment Assistance Options
NIFA programs may help reduce the amount of cash needed at closing through structured assistance.
Paired With Popular Loan Programs
NIFA assistance is commonly combined with FHA or eligible conventional loans.
Supports Sustainable Homeownership
Programs are designed to encourage manageable payments and long-term housing stability.
Available Across Nebraska
NIFA programs are offered statewide, including Lincoln, Omaha, and surrounding communities.
Who Might Consider a NIFA Program?
A NIFA program may be a good option if you fit one or more of the following profiles:
- Buyers with stable income but limited savings
- First-time or repeat buyers meeting program income limits
- Borrowers using FHA or eligible conventional loans
- Buyers purchasing a primary residence in Nebraska
Things to Consider
While NIFA programs offer meaningful benefits, there are important factors to review:
- Income and purchase price limits apply
- Assistance may be structured as a second loan
- Homebuyer education may be required
- Repayment terms vary by program
- Eligibility for loan programs depends on your specific financial situation, credit profile, and property details. This information is for educational purposes only and does not constitute a commitment to lend.
Loan Programs Commonly Paired With NIFA
Conventional Loans
A conventional cash-out refinance allows qualified homeowners to tap into their home’s equity for expenses such as debt consolidation, renovations, or investments while maintaining competitive interest rates.
FHA Loans
An FHA cash-out refinance provides access to home equity with more flexible credit guidelines, making it a popular option for homeowners who may not qualify for conventional financing.
VA Loans
A VA cash-out refinance allows eligible veterans and service members to access their home equity, often with higher allowable loan-to-value limits and no monthly mortgage insurance.
NIFA Homebuyer Program FAQs
What does NIFA stand for?
NIFA stands for the Nebraska Investment Finance Authority, a statewide organization that supports affordable housing initiatives and homeownership programs across Nebraska.
Does NIFA provide grants or loans?
NIFA assistance is typically structured as a second loan, though specific terms vary by program. Some assistance may be forgivable depending on length of occupancy and program guidelines.
Is NIFA only for first-time homebuyers?
Not always. While many NIFA programs are commonly used by first-time buyers, some options may be available to repeat buyers who meet income and program requirements.
Do I still need to qualify for a mortgage if I use NIFA?
Yes. NIFA assistance works alongside a primary mortgage, so borrowers must still qualify for the first mortgage based on credit, income, and underwriting guidelines.