Our purpose is to increase the supply of housing through land development or by participating in housing development with lower cost financing for developers and builders to encourage production of affordable work force housing and to financially assist eligible homebuyers purchase the qualified homes.
Nebraska Housing Resource was incorporated as a nonprofit in June 1998 by leaders of the Homebuilders Association of Lincoln. Beginning with its establishment, NHR’s goal has been to assist builders produce more affordable housing by taking on lot development, looking for financing partners to provide for a lower lot cost or to invest in affordable rental housing, and to invest in first-time homebuyers. NHR’s subordinate home buyer financing was always structured as a non-forgivable loan that is paid back when the home buyer eventually sells the home. The start-up of NHR was strongly supported by the Nebraska Investment Finance Authority and the Fannie Mae Foundation.
Our History of Homebuilding
Nebraska Housing Resource has developed and sold lots to builders with the goal of helping builders serve the first-time homebuyer market. NHR is also able to participate with banks to provide a lower cost source of development financing. Additionally, NHR offers down payment assistance subordinate financing for eligible and qualified homebuyers purchasing homes built in partnership with NHR. The buyers must be pre-qualified for a first mortgage through a private lending institution. When the homebuyer sells their house in the future the subordinate debt financing is repaid and NHR is able to reinvest in new homebuyers.