Program for homebuyers offers downpayment, rehab grants

    A down payment/closing cost assistance program with rehabilitation is available to homebuyers in Chase County, and applications can be submitted starting Feb. 1.
    The program uses funding through the Nebraska Affordable Housing Trust Fund within the Nebraska Department of Economic Development.  
    Southwest Nebraska Community Betterment Corporation (SWNCBC) in Grant is coordinating the program in this area.
    This is an income-based program. The down payment assistance grant is a deferred loan at 0% interest and is to be paid back to SWNCBC when the house is no longer the buyers’ principal residence.  
    The rehabilitation portion of the grant is a “forgivable loan” at 0% 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 homebuyers up to $10,000 to those who qualify.  The final amount of assistance given depends on the amount the lender requires and cannot exceed 20% of the purchase price of the home.   
    SWNCBC will also offer up to $20,000 in rehab funds to be used once the closing is complete. A professional inspection is required to evaluate the work to be done at the home.
    This program includes the following communities: Imperial, Wauneta, Lamar, Grant, Venango, Elsie, Madrid, Benkelman, Haigler, Stratton, Trenton, Culbertson, Palisade, Hayes Center, Hamlet and McCook.
    All homebuyers accepted for the funds are required to take a Homebuyer Education Class.  
    Applications cannot be dated prior to Feb. 1. Applications can be picked up at the SWNCBC office at 115 W. 3rd Street in Grant, online at www.southwestne.com or you can e-mail swncbc@gpcom.net and request that an application be mailed.
    People can also call SWNCBC at 308-352-4338 for an application or for more information.