LINCOLN, NEB. – March 17, 2011 – (RealEstateRama) — The Nebraska Department of Economic Development (DED) has awarded $350,000 in HOME funding to Southeast Nebraska Community Action Council, Inc., a nonprofit 501 (c)(3) in Humboldt, Neb., to provide homebuyer assistance to 15 qualifying first-time homebuyers.
The new and existing homes in Cass, Johnson, Nemaha, Otoe, Pawnee and Richardson counties are available to homeowners earning at or below 80 percent of the Area Median Income by family size while priority will be given to households earning incomes at or below 60 percent of the Area Median Income.
The project, known as SENCA HOMES III, also will provide additional rehabilitation assistance of no more than $15,000 per existing home that’s purchased. All rehab is required to be completed within six months of home ownership.
An additional $710,700 funding in the form of conventional loans, SENCA’s Weatherization program and Homebuyer Education Fees, and through partnering organizations including the U.S. Department of Agriculture Rural Development, Nebraska Investment Finance Authority, and Buyer’s Investment will complete the project.