SWNCBC seeks input on down payment grant

Southwest Nebraska Community Betterment Corporation (SWNCBC), a non-profit, 501©3 organization located in Grant, is currently applying for down payment/closing cost assistance for homebuyers through the Nebraska Affordable Housing Trust Fund program offered through the Nebraska Department of Economic Development.  

SWNCBC is looking for potential homebuyers who would be interested in a Down Payment Assistance (DPA)/Closing Cost Assistance program in the SWNCBC project service area which includes the incorporated communities of Grant, Venango, Elsie, Madrid, Imperial, Wauneta, Lamar, Benkelman, Haigler, Stratton, Trenton, Culbertson, Palisade, Hayes Center, Hamlet and McCook.

DPA Program

This Down Payment Assistance program is a zero percent interest deferred loan. The program offers up to 20 percent of the purchase price, with a maximum amount of $20,000 to be used for the down payment of one single family housing unit, including associated closing costs. 

Each applicant is required to provide $500 of their own money to cover a portion of the required closing fees and pre-paid escrow accounts. 

All applicants are required to secure a Single Family Mortgage Loan from a lender of their choice to purchase the single-family home. Each applicant must attend a Homebuyer’s Education Workshop prior to loan closing. SWNCBC offers Homebuyer Education classes online and in person classes on a quarterly basis. 

The Homebuyer’s Education includes an educational packet and instructional materials on topics such as family financial management, record keeping, maintenance and upkeep, landscaping, lawns and pest management, appliances and home furnishings. 

Eligibility 

The housing unit to be purchased must be located in one of the incorporated communities listed above.  Eligibility for the program is determined by family size and household income, and varies by county in which they receive assistance. 

Income verification of household gross income is required and will need to be at or below 120 percent Area Median Income. 

Assistance is in the form of a deferred loan with no payments required as long as the property is maintained as the owner’s primary residence throughout the duration of the 10-year affordability period. A subordinated lien will be placed upon the property in second position behind the primary lender.

Please call SWNCBC at 308-352-4338 for more information on the program and to be included on the current waiting list.