Buying a home is a major step, and Douglas County Housing Partnership helps residents understand resources that may be available along the way. Through homebuyer education, down payment assistance, lender information, and housing counseling, DCHP connects eligible buyers with tools to make homeownership in Douglas County more attainable.
DCHP’s Down Payment Assistance Program is designed to help low- and moderate-income households purchase their first home in Douglas County. The program increases a buyer’s purchasing power by enabling eligible households to borrow at a low interest rate, helping bridge the gap between local wages and higher housing costs.
Homebuyer Resources and Support
DCHP provides information and support for residents preparing to buy a home, including first-time homebuyer resources, homebuyer education, guidance on down payment assistance programs, lender information, and housing counseling.
Homebuyer resources may include:
- Down payment assistance information
- Homebuyer education
- First-time homebuyer checklists
- CHFA participating lender information
- Reverse mortgage counseling
- Housing counseling and financial readiness resources
Down Payment Assistance
DCHP offers down payment assistance for eligible first-time homebuyers purchasing a home in Douglas County. According to DCHP, borrowers must be first-time homebuyers as defined by HUD, and preference is given to borrowers currently living or working within Douglas County. DCHP also states that borrower income must be at or below 80% of the Area Median Income, and the home must be used as the buyer’s primary residence.
To learn more about eligibility, buyer requirements, and current program details, visit the Down Payment Assistance page or contact DCHP.
Amortizing Loan Program
DCHP offers a traditional second mortgage for down payment assistance through its Amortizing Loan Program. DCHP describes this option as a 30-year amortizing loan with a 3% interest rate. The page currently states that the loan is $15,000 and that 100% of the loan proceeds go toward down payment, closing costs, and principal reduction.
Shared Equity Program
DCHP’s Shared Equity Finance Program is a non-amortizing, deferred second-position lien. Through this program, DCHP provides funding of up to 20% of the purchase price, up to $41,000. DCHP states that borrowers must meet all Down Payment Assistance requirements and qualify for a conventional first mortgage.
First-Time Homebuyer Education
Before buying a home, it is important to understand the process, the costs, and the responsibilities that come with homeownership. DCHP offers a free Homebuyer Education Class covering topics such as budgeting, credit scores, loan applications, loan products, selecting a Realtor, real estate contracts, appraisals, insurance, home inspections, home maintenance, and foreclosure prevention.
This education can help buyers prepare for the homebuying process and ask informed questions when working with lenders, real estate professionals, and housing counselors.
Lender Information
DCHP states that it can work with any CHFA participating lender. DCHP also provides information about local lenders it has recently worked with. Buyers interested in DCHP homebuyer assistance should review the lender information and connect with a participating lender early in the process.
First-Time Homebuyer Checklist
DCHP provides a checklist for first-time homebuyers to help buyers review program steps and requirements. Reviewing available program information early can help buyers understand what may be needed before applying for assistance or moving forward with a home purchase.
Reverse Mortgage Counseling
For older homeowners exploring a reverse mortgage, DCHP provides HUD-certified counseling required for people interested in obtaining a reverse mortgage, also called a Home Equity Conversion Mortgage, or HECM. DCHP describes a reverse mortgage as a loan for people age 62 or older that uses a percentage of a home’s equity as collateral.
Ready to Take the Next Step?
If you are preparing to buy a home in Douglas County, DCHP can help you understand available resources and where to begin. Review the homebuyer pages below or contact the DCHP team for guidance.