First Time Homebuyers in Gretna

Here are some tips for first–time homebuyers in Gretna, NE, updated August 2023. According to TheMortgageReports.com, eligibility requires you “Complete home buyer education class. Meet the NIFA income limit of $145,000. Meet NIFA purchase price limits of $427,000… and take possession of it within 60 days of closing as a primary residence.

With financing options like “Conventional 97,” Freddie Mac or Fannie Mae will reduce your out-of-pocket down payment amount from 20% of the home’s market value to 3. So, if a home were $100K, you’d need only $3K in cash instead of $20K. The minimum FICO score for this is 620, and you can also stop paying mortgage insurance (PMI) once you have 20% equity established. Otherwise, the FHA covers up to 3.5% and only requires a 580 FICO. VA and USDA loans offer zero down with a 620 or 640 FICO.

Purchasing your first home in Gretna, NE, is a smart investment. Niche.com ranks this suburb of Omaha among Nebraska’s best places to raise a family. It’s popular with young professionals and families, so you’ll fit right in. High demand equates to strong home values, making your possibility of a strong ROI subject to your ability to pay on time and keep the place in working order. Consider repairs and upgrades an investment in the marketability of your most powerful financial asset. Call today!

More tips: https://www.bankrate.com/mortgages/nebraska-first-time-homebuyer-assistance-programs/

• First-time homebuyers in Gretna, NE, can get expert guidance through this life step.