NeighborWorks Lincoln Facilitates First-Time Homeownership
NeighborWorks Lincoln (NWL, www.nwlincoln.org) helped four new families achieve their dream of homeownership in February. NWL works to facilitate first-time, sustainable home purchase by low- to moderate-income families through its HUD certified Homeownership Program.
The NeighborWorks homeownership curriculum provides first-time homebuyers with an eight-hour pre-purchase readiness course. Clients who meet area median income guidelines (AMI) may qualify for a no interest, payment-free down payment assistance loan with NWL that includes a 5% down payment, closing costs, and funding for a basic rehabilitation scope. Income guidelines depend on the type of funding being used for the loan, but are generally at or below 100% AMI. Course graduates purchase an existing home in need of rehab or an NWL-constructed unit, depending on inventory.
“I’ve been wanting this since I was 14…I worked hard this past year to get my credit in order,” said Janice, an NWL client. “I feel like I came too far to leave this world without a mortgage receipt book with my name on it. Right now, I’m just so grateful for it all. To all the people who have donated funds to make this possible for me, I would like to thank them as well.”
The mission of NeighborWorks Lincoln is to revitalize neighborhoods and support homeownership, keeping Lincoln a safe and prosperous community. To help others like Janice on their path to homeownership and to stabilize neighborhoods throughout Lincoln, please consider supporting NeighborWorks Lincoln this Give to Lincoln Day (May 1 – May 26). For more information, visit www.givetolincoln.com / www.nwlincoln.org.