New Construction

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Three Rivers Housing Development Corporation a non-profit affordable community housing development corporation serving Burt, Dodge, Cuming, & Washington counties in Northeast Nebraska. 

The New Construction program is currently underway exclusively in the citites of Oakland and Lyons, NE in Burt County where three new houses will be built in 2023-2025.  These new construction homes are a result of a 2022 grant application to the Nebraska Department of Economic Development for use of Nebraska Affordable Housing Trust Funds.  In 2014-2017 this program built three new homes in Lyons, NE and 2018-2021 three new homes in Tekamah, NE.  The success of this program speaks to the need for further affordable housing projects in our rural communities.

Qualification & Process

Qualified homebuyers will earn 120% of the Area Median Income (AMI) or less in their respective county (see income chart below).

Qualified homebuyers will be required to obtain a Single Family Mortgage Loan from a qualified lender of their own choice along with a preapproval letter from the selected lender is required to be submitted with the application.

Along with this letter a good faith estimate and a copy of the loan application is also required.

The mortgage lender will appraise the proposed property and submit a copy to the applicant and Three Rivers.

The new construction program will not be eligible for areas in a special flood hazard area.

Each applicant will be required to complete a Homebuyer's Education Workshop prior to loan closing, and emphasized to do so as soon as possible. Homebuyer education classes includes key topics to assist the first time homebuyer in areas of family financial management, record keeping, maintenance and upkeep, landscaping, lawns, pest management, and numerous other helpful topics.

The possible funding assistance provided in the New Construction Program will be either 20% down payment assistance, or development subisdy, or a combination of both.  The down payment grant assistance is a 0% loan which requires no payments during the course of homeownership by the grantee. The grant/loan will be applied to the down payment of one housing unit and the associated costs. The grant/loan is secured by a second position Deed of Trust that requires repayment of the grant/loan when the home is sold by the grantee. The applicant will be required to provide $1,000 earnest deposit.

The current 2023 cost of the New Home Construction is $255,000. This dictates a with the grant/loan down payment a home mortgage loan of approximately $204,000 for successful applicants.

Interested applicants download application and brochure and contact Three Rivers Housing Development Corporation at 402-374-2056 with questions about eligibility, the program, and the application process.  

 Download - New Construction Housing Application

Download - New Construction Brochure - Oakland

Download - New Construction Brochure - Lyons



2022 Income Limits (120%) New Construction

Household Size Burt County
1 Person $66,000
2 Persons $75,450
3 Persons $84,900
4 Persons $94,300
5 Persons $101,850
6 Persons $109,400

 Subject to change without notice