Purpose: To promote neighborhood revitalization through home ownership in Omaha’s older neighborhoods.

The Single-family Homebuyer Program is designed to help homebuyers purchase newly-constructed housing in older neighborhoods.  This process is called “infilling” and it is an important tool for neighborhood revitalization.  To encourage infilling, the City will loan up to $50,000 to homebuyers purchasing homes in target neighborhoods (established by HCD).  The City loan is intended to supplement a primary loan from an area lender.

General requirements for applicants include the following:

• At least 19 years of age
• Two years of continuous work history
• Have a debt-to-income ration of 42% or less and a housing-to-income ratio of 33% or less (HCD staff will assist with this determination)
• Student loans, child support, existing credit obligations, and taxes must be paid to date, and must have no serious credit problems
• Must attend HUD-approved housing education and counseling
• Willing to remain in the home for a period of 5 to 15 years, depending on the City loan amount

Please concact Omaha 100 for additional information.