Southwest Nebraska Community Betterment offering down payment/closing cost assistance
Southwest Nebraska Community Betterment Corporation (SWNCBC), a non-profit organization located in Grant, is leading a cooperative effort to provide down payment/closing cost assistance to first-time homebuyers using funding provided by the Nebraska Department of Economic Development.
The housing program, referred to as Down Payment/Closing Cost Assistance, will be offered in the SWNCBC five-county service area which includes the following incorporated communities: Grant, Venango, Elsie, Madrid, Imperial, Wauneta, Lamar, Benkelman, Haigler, Stratton, Trenton, Culbertson, Palisade, Hayes Center and Hamlet.
The program provides funding for families living at a moderate- to low-income level. This is a “forgivable loan” at 0 percent interest, with no repayment necessary as long as the family maintains the property as their primary residence for the next 10 years.
SWNCBC will offer first-time homebuyers up to $18,000 to those who qualify. The final amount of assistance given depends on the amount the lender requires, and cannot exceed 20 percent of the purchase price of the home.
Those who have not owned a home in three years, or have experienced a life change such as divorce or being widowed, may qualify as a first-time homebuyer. SWNCBC also partners with other organizations to assist first-time homebuyers
First-time homebuyers will need to attend a Reach Affiliated Homebuyer Education Class, offered by SWNCBC. SWNCBC offers face-to-face classes as well as online classes through ehomeamerica.org. Spanish classes are also available through ehomeamerica.org.
SWNCBC is currently accepting applications for this program. Applications can be picked up at the SWNCBC office located at 115 W Third St., online at www.southwestne.com or requested by e-mail email@example.com. Call SWNCBC at 308-352-4338 for an application or for more information.