At U.S. Home Mortgage, we offer several different types of loan programs to meet all your needs.
Program Description
The Single Family Program provides a continual supply of funds to be used at below market interest rates for homebuyers throughout the state who qualify as first time homebuyers (with certain exceptions) and are at or below maximum income and purchase price limits. A first-time homebuyer is someone who has not had an ownership interest in a principal residence in the past three years. U.S. Home Mortgage is a NIFA approved lender. We can assist you with any NIFA program.
All NIFA loans have a 30-year term with fixed interest rates. Generally, loans are assumable and there are no prepayment penalties.
Program Eligibility Requirements
Homeowner Eligibility
- Applicants must be first-time homebuyers unless buying a home in a NIFA Targeted Area. There are three exceptions, subject to program limits, to the first-time homebuyer requirement: loss of previous residence due to legal action (divorce), natural disaster or required job relocation.
- The total gross annual income from all sources of all persons 18 years or older expected to live in the home must be at or below the maximum income limits. (Certain federal insurance or guarantee programs used by NIFA may prescribe lower income limits.)
- The borrower must plan on living in the residence they purchase for the term of the NIFA mortgage loan. Rental properties are not allowed.
- The borrower must have good credit and be able to afford the monthly payments of loan principal plus interest, taxes, hazard insurance, and if applicable, condominium fees, PUD fees, flood insurance, and mortgage insurance.
- The borrower must have enough savings for the required down payment and closing costs. The total costs vary depending on the loan product (e.g. Conventional, FHA, VA, RD). NIFA does offer a 100% conventional product with no required down payment. In some circumstances, approved down payment and closing cost programs are available. See information about NIFA’s Homebuyer Assistance Program (HBA) below.
Property Eligibility
- To qualify for a NIFA loan, the purchase price of the home must not exceed the maximum purchase price limits. Limits are higher for properties located in target areas.
- The program is available for the purchase of single-family homes, qualified condominium units and two-to-four family dwellings where the mortgagor occupies one unit. If the property has two or more units, the residence must have been constructed and initially occupied as a residence at least five years before the mortgage is executed.
- No more than 15 percent of the total area of the home can be used in a trade or business.
For a map of NIFA target areas in Lincoln, Nebraska click here.
*Homes in the target areas do not have to be purchased by first-time home buyers in order to qualify. | 
