Program & Services
NEHI, Inc. has been providing affordable housing services for over 15 years. During this time, the organization has seen several changes in the regional housing market yet one thing has remained constant, the need for down payment, closing cost, and housing rehabilitation.
The Purchase/Rehab/Resell program is most often compared to "flipping". With this program, qualified home buyers identify a home for purchase. NEHI, Inc. staff conducts and inspection of the property and identifies items that do not meet the minimum rehab standards provided by the Nebraska Department of Economic Development. A cost estimate is completed to determine how much rehabilitation will need to be completed.
Once the amount of rehabilitation has been determined, NEHI, Inc. can proceed with making an offer and purchasing the property. NEHI, Inc. will then complete the identified rehabilitation prior to selling it to the qualified home buyer.
When it is finally time for the home to be sold, NEHI, Inc. sells the property to the home buyer for the original purchase price PLUS rehab costs. For example, if a house cost $50,000 for NEHI, Inc. to purchase and $10,000 for rehabilitation costs, NEHI, Inc. will sell the property for $60,000.
At closing, NEHI, Inc. will provide the home buyer with down payment assistance of 20% of the purchase price or a maximum of $20,000. The down payment assistance is given in the form of a 0% interest, no payment, deferred loan that is due payable at title transfer or once the first mortgage is paid in full. In the example above, the down payment assistance would be $12,000 requiring the home buyer to have a first mortgage of $48,000.
Home Buyer Education
At NEHI, Inc., we believe home buyer education starts from the very first interaction with home buyers. The home buying purchase can be overwhelming especially for first time home buyers. NEHI, Inc. provides one-on-one home buyer consultations at no charge. Participants of NEHI, Inc. programs are required to complete a formal home buyer education course through eHome America. Contact us to see about receiving a discounted rate for the course!
NEHI, Inc. also provides online foreclosure prevention classes for current home owners that are struggling to make ends meet. For more information, visit eHome America.