I live in Nebraska and am a very frustrated potential first time buyer and was wondering if there are places that will help us with this sort of thing, we dont want to settle on a house that needs work and we dont want to rent or live beyond our means. Any advice?
2007-01-03 12:37:46 · 2 answers · asked by ♥♫♥ Crystal ♥♫♥ 4 in Business & Finance ➔ Renting & Real Estate
Nebraska has a great program called NIFA - Nebraska Investment Financing Authority. Go to nifa.org for more information on grants and a list of lenders in your area. It works great for first time homebuyers in Nebraska, providing low rates, closing costs and grants for down payments. And qualifying is easy. Some lenders are Platte Valley Bank, US Bank, Wells Fargo and many more all in Nebraska.
2007-01-03 16:10:02 · answer #1 · answered by amy23 3 · 1⤊ 0⤋
The qualifying for most government grants falls into one of two categories; location of house or income of family. Talk to a Realtor who knows of a mortgage company offering access to one of these grants.
Beware the "money laundering" Non Profit Organization Grants. Government grants really are grants. The seller does not have to increase the price of the home, to give the money for the grant. There are many non-profit companies that have sprung up who will "give" a gift to the buyer, if the seller will "give" a gift to the non profit, plus a transaction fee. The price has to be raised to accommodate this laundering, so the buyer pays for it and ends up with a loan that is more than the actual fair market of the house.
2007-01-03 14:39:31 · answer #2 · answered by teran_realtor 7 · 1⤊ 0⤋