If you’re a first time home buyer in Nebraska, you have a number of opportunities available to you to help you come up with the funds you need to purchase your first home. But unless you’re familiar with these opportunities, you may be uncertain about what steps to take to best finance this purchase. We’re here to help with this.
We’ve put together a solution that can help you better understand the process. This is our first time home buyer checklist, and it lays out all the steps involved in getting a home purchase mortgage. We’ve listed the five most significant steps here. Ask yourself these questions, and the answers will provide you the information you need to move to the next part of the process.
If you ask yourself these questions and you’re able to answer them, you should be in good shape to finance your first home purchase. Use our mortgage calculator tool below to determine what your monthly loan costs will be.
The Nebraska FHA loan program is a specialized mortgage option that is backed by the Federal Housing Administration and is intended to give potential homebuyers an affordable funding choice. Some of the many benefits attached to the FHA program include low down payments of just 3.5% and minimal credit score requirements. You can have low credit and low income and still qualify for a loan. This makes it a highly advantageous loan for first time home buyers.
As a farming state, Nebraska prides itself on its $88,000 median home price and a homeownership rate of 67.4%. Nebraska's focus on agriculture keeps its economy going even during major recessions. It’s a good, stable environment for first time home buyers to invest in.
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