|Grant to aid first-time homebuyers in Chase and adjoining counties|
Southwest Nebraska Community Betterment Corporation (SWNCBC) in Grant has received $100,000 in Nebraska Affordable Housing Trust Fund money to continue providing a down payment and closing cost assistance program to help 10 individuals in Perkins, Chase, Dundy, Hitchcock and Hayes counties become first-time homebuyers. The NAHTF funding is administered by the Nebraska Department of Economic Development.
The U.S. Department of Agriculture Rural Development also is contributing $7,400 to the project.
SWNCBC offers as much as $7,000 down payment and closing cost assistance depending on the amount required by the lending institution providing the first mortgage.
Loans and repayment depend on the Average Median Incomes (AMI) of applicants and the percentage of loans they may qualify for. For example, people earning 50 percent below the AMI would qualify for a 100 percent forgivable loan after living in the home for a 10-year affordability period.
Since 2000, SWNCBC has assisted 60 first-time homebuyers.