First-time home buyer programs in Nebraska (NIFA)

What NIFA offers

NIFA does not lend directly. Its loans are made by approved participating lenders, who check your eligibility and process the application. NIFA publishes its programs and rates on its website; the table below uses the rates NIFA listed on its page, last changed October 9, 2026. Rates are subject to change without notice, and NIFA says they are not an advertisement for credit: ask a participating lender for the annual percentage rate (APR).

Source: NIFA, “First Home Program,” current rates table. Welcome Home and Welcome Home Assistance carry an origination fee of up to 0.50% of the loan amount that the lender may charge.

The loan types available are conventional, FHA, USDA Rural Development and VA. For conventional loans, mortgage insurance is not required if the down payment is 20% or more. See our guides to FHA loans, VA loans and private mortgage insurance.

Down payment assistance: how it works

In the Homebuyer Assistance program, you get a first mortgage and a second mortgage. NIFA states that the first-mortgage rate is higher because it includes the down payment and closing cost assistance. The second loan is capped at 5% of the purchase price, runs 120 months (10 years) and carries 1% interest. Buyers must meet NIFA’s first-time homebuyer requirement.

A worked example

The Census Bureau’s 2024 median home value for the city of Omaha is $269,500 (see Nebraska home prices). This is a median of owners’ estimates, not a price you would pay, but it shows the scale. On a purchase at that price, the second loan could be at most 5% of $269,500, or $13,475. A lender sets the actual amount, and the first mortgage still has to be repaid at the higher rate.

Who qualifies?

• First-time buyer. NIFA defines it as not having owned and occupied a primary residence in the past three years. Qualified veterans, and buyers of a home in a target area (First Home Targeted), do not need to be first-time buyers. NIFA may grant exceptions when a home was lost through divorce with no sale proceeds, a natural disaster or a forced job relocation.
• Welcome Home. First-time and repeat buyers are eligible. Only first-time buyers must take homebuyer education.
• Primary residence. You must occupy the home within 60 days of closing.
• Credit and debt. For conventional and government loans, the minimum credit score is 640 with a maximum total debt-to-income ratio of 45%, or up to 50% with a score of 660 or higher. Lenders may apply other rules for manual underwriting.

Income and price limits

Effective July 13, 2026, NIFA’s purchase price limits are:

NIFA’s Welcome Home page states a household income limit of $182,800 (all counties) and a purchase price limit of $485,500 for one unit and $607,000 for two units. For the other programs, NIFA’s income limit sheet sets limits by county, target or non-target area, and household size:

Source: NIFA income limit sheet, effective 7/13/2026. Income counts for every adult who will live in the home and be a borrower, co-borrower or non-borrowing spouse. Douglas County is one of six counties with targeted census tracts; NIFA offers a geocoding map to check a specific address.

Programs in Omaha

NIFA’s loans are available in Omaha through participating lenders, and Douglas County has target-area census tracts. City of Omaha or Douglas County down payment programs are not described here: the city and county websites did not open for our review on October 13, 2026, so we do not list their amounts or income limits. Ask the City of Omaha Planning Department or a HUD-approved housing counselor what is open now.

How to apply

1. Check eligibility. NIFA offers an online eligibility chat; a participating lender makes the final decision.
2. Take homebuyer education if you are a required borrower. It must be done through a NIFA-approved provider before closing.
3. Choose a participating lender to get pre-approved and apply.
4. Gather documents. NIFA lists one year of federal tax returns, W-2s, 30 days of pay stubs, 30 days of bank statements, and your education certificate.
5. Plan for recapture tax. NIFA warns of a possible federal recapture tax if you sell within nine years with a net gain and income above the IRS limit. The maximum is 6.25% of the original loan amount. NIFA has a reimbursement policy with conditions.

For the full sequence, read our steps of buying a home and the Nebraska closing costs guide. To see the market for the city, go to buying a home in Omaha.