The Nebraska Investment Finance Authority (NIFA) has launched the Build Home Program, a new home loan option that allows eligible Nebraskans to lock in a NIFA mortgage interest rate for up to 180 days while their single-family home is under construction, helping keep payments predictable and new homes more affordable today’s changing interest rate environment.
“Building a home is an exciting milestone, but fluctuating interest rates can create real uncertainty for families,” said Shannon Harner, Executive Director of NIFA. “The Build Home Program offers stability during the construction period and expands opportunities for people who want to invest in new housing in communities across our state.”
The Build Home Program is available statewide and is designed for homebuyers who plan to build a new primary residence in Nebraska. Borrowers work with participating NIFA lenders from application through construction and final closing, combining the extended rate lock with NIFA’s existing loan options where eligible.
Program Details
The Build Home Program lets qualified homebuyers secure a NIFA mortgage interest rate for up to 180 days while their home is under construction. The program supports newly constructed single-family homes anywhere in Nebraska, as well as certain modular or factory-built homes that meet NIFA program requirements. Eligible borrowers may also access down payment assistance through compatible NIFA programs.
Borrowers must plan to build a new primary residence, meet NIFA income and purchase price limits, and satisfy standard credit and underwriting requirements including minimum credit score and debt-to-income ratio guidelines.
How the Program Works
Homebuyers apply through a participating NIFA lender, who confirms eligibility and coordinates the rate lock. Once approved, buyers can secure a NIFA interest rate for up to 180 days during construction. Throughout the building process, the lender works with the buyer and builder on required documentation and inspections. When construction is complete, the loan transitions to permanent financing.
How to Apply
Homebuyers interested in the Build Home Program can contact a participating NIFA lender to discuss current interest rates and eligibility. Visit https://www.nifa.org/homebuyers-renters/build-home for program details, income limits, and resources. Additional information is available by contacting NIFA’s Homeownership Team at homeownership@nifa.org or (402) 434-3900.
The Build Home Program supports NIFA’s broader mission to expand access to affordable housing and strengthen housing markets statewide. “From small towns to larger cities, Build Home gives Nebraskans another tool to build homes that fit their families, budgets, and communities,” Harner said.