What is NIFA?

What is NIFA?

NIFA stands for Nebraska Investment Finance Authority. They are a non profit organization with a mission to “provide Nebraskans a broad range of financial resources for homeownership, rental housing, agriculture, manufacturing, medical and community development endeavors.”


What do they offer?

They offer a wide array of resources to several groups, but the resources that I want to tell you about deal with homeownership. The first great benefit is a $5000 grant for first time homebuyers who meet specific income qualifications ranging from $30,750 for a one-person family to $57,950 for an eight-person family. Fear not, though, if you don’t fit into that income requirement. NIFA also offers program to help with your down payment and closing costs.If you haven’t been able to save the required 3.5-5% down payment requirement that you must have for FHA and conventional loans, NIFA can help with a second mortgage offer. If you have $1000 and don’t exceed the income requirements of $87,000 for a 1-2 person household or $100,970 for a 3+ household, you could qualify for a down payment loan of 5% of the purchase price at an extremely affordable rate and term—ten years and 1%.


Does that sound too complicated?

After typing that paragraph, I realized that is a TON of information and some fairly complicated requirements. Lucky for you, I am a NIFA certified agent and work with some really great lenders who are also NIFA certified. That means, I can break all of this down for you to help you get started in the home buying process. The home buying process can be confusing, overwhelming, and difficult, BUT owning a home is worth it. Self-made millionaire David Bach writes, in “The Automatic Millionaire,” “As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!”

Let me help you get started on your path to homeownership.