Residential Real Estate Loans
Residential Real Estate Loans
Are you planning on buying, building or refinancing a home? Here is the information you need to help you get started.
For more information regarding our Residential Real Estate loan products, call a personal banking representative, e-mail us, or call or visit the
branch nearest you.
Conventional Loans
Home purchase or refinancing available through Federally governed sponsors known
as Fannie Mae or Freddie Mac.
- Flexible terms
- Affordable payments. Longer terms make for comfortable payments, shorter terms save borrowers interest over life of loan.
- Allows price range for any type of borrower.
- Short waiting period for loan processing and approvals.
- Adjustable rates, with conversion options.
- Saves borrowers money because interest is paid only on unpaid principal balance.
- Conventional loans can be used in conjunction with NIFA loan programs for first time homebuyers.
NIFA Loans
Financing options offered through the Nebraska Investment Finance Authority to assist first
time homebuyers (or those who have not owned a home in three years) with low to
moderate income for the purchase of a personal residence. NIFA is a section of
the Government that allows financing in conjunction with other Federal Programs.
Sale prices and loan amounts may be limited.
- Allows for more affordable monthly payments.
- Allows homebuyers with limited income and/or savings to purchase a home.
- Can be used with FHA, VA, USDA - Rural Development, and Conventional loans.
- Cash Assistance available.
- Maximum purchase price for the regular NIFA Program is:
- $170,000 - Lincoln County
- $170,000 - Scotts Bluff County
- $170,000 - Box Butte County
- $170,000 - Dawes County
FHA Loans
First National Bank North Platte provides financing for homes through FHA (Federal
Housing Administration, also known as HUD) to include purchases and refinances
of owner occupied 1 to 4 family dwellings.
- Loan amount is limited to:
(as of 1/1/06)
- $200,160 - 1 unit
- $256,248 - 2 unit
- $309,744 - 3 unit
- $384,936 - 4 unit
- Flexible terms.
- Competitive fixed and adjustable rates.
- FHA loans can be used in conjunction with NIFA loan programs.
- Borrowers can get into a home for a minimal down payment and closing costs.
- Assumable, making it easier for re-sale and new borrower assumes attractive
interest rate.
USDA - Rural Development
USDA - Rural Development , a Division of Federal Government that guarantees loans
for the purchase of owner occupied single family residences for low to moderate
income. Rural Development can be used in conjunction with NIFA programs for first
time homebuyers.
- Lower rates and/or cash assistance.
- All processing is done at First National Bank North Platte.
- Offered in communities of 20,000 or less.
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