In the Fall of 2016, Nebraska Housing Resource opened the 26-lot 11th Addition in northwest Lincoln’s Hub Hall Heights neighborhood. A few lots at $37,500 remain to be sold. The 12th Addition with 36 more lots should be available by the end of 2017.
For the 12th Addition, final pricing will be determined after the infrastructure is complete. Lot prices will vary by type, but will generally be priced in the low $40,000’s. Click to see or download the Plat.
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 $215,000 or less. 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.