In the Fall of 2016, Nebraska Housing Resource opened the 26-lot 11th Addition in northwest Lincoln’s Hub Hall Heights neighborhood. All of these lots are sold.
The Hub Hall Heights 12th Addition with 36 more lots is available now.
First-time Home Buyer Incentive Program
NHR is also offering financial assistance to a few eligible and qualified first-time homebuyers purchasing a new home in this development. NHR’s Homeownership Opportunity Program or HOP provides the eligible homebuyer up to a $15,000 subordinate second mortgage loan the proceeds of which are used to “buy down” the first mortgage and for down payment and/or closing cost assistance. The subordinate second mortgage is a zero payment, zero interest loan secured on the real estate. When the first-time homebuyer sells the home or no longer occupies it as their primary residence the loan is repaid. The first-time homebuyer must be qualified for a first mortgage loan from a financial institution that accepts the subordinate financing and complete a homebuyer education class.
Area Median Income Required for Eligibility
The HOP buyer incentive is available only on new homes sold for $224,000 or less on a lot purchased from NHR. Eligible first-time homebuyer must have household income at or below 120% of the Area Median Income. Currently, for a family of 4 in Lancaster County the maximum household income is approximately $85,000. Click below to read or download the guidelines.