Three Rivers provides a HOME Funded program called the Purchase/Rehab/Resale Program (PRR). This is a developer sponsored program to promote safe and affordable housing, economic opportunity and suitable living environments, free from discrimination with the communites of Burt, Cuming, Dodge, and Washington counties.  The PRR Program will also provide financial assistance for eligible applicants at or below 120% AMI (Average Median Income) to find their first home (see income chart below). The program will increase the number of affordable housing units in Northeast Nebraska and upgrade and improve the existing housing stock in our four county area.

How the PRR program works is that eligible persons/families will identify a housing unit they would like to purchase that is in need of rehabilitation in order to bring it in line with local standards for existing housing quality.  Three Rivers will then purchase the home, perform the necessary rehab, then resell the unit to the applicant and supply the down payment/cosing cost assistance.  The down payment/closing cost assistance is determined by the appraisal value and lending underwriting criteria, and takes the form of a deferred grant on the property for a ten (10) year period.  The amount of the grant will decrease each year and will be forgiven at the end of the ten (10) years.  In the event the house is sold prior to the ten year deadline the remaining balance of the grant at the time of the sale will be paid back to Three Rivers Housing.

An overview of the process:

  • Obtain mortgage loan from lender of choice (Loan Commitment Letter)
  • Complete an interview and application with Three Rivers HDC to qualify for the PRR Program
  • Complete Homebuyer Education
  • Homebuyer finds a home
  • Homebuyer contacts Three Rivers to make an inspection
  • Obtain bids from contractors
  • List of rehabilitation needs and costs are reviewed with homebuyer
  • An agreement to purchase the house is made after approval by Three Rivers Board
  • House must appraise at purchase cost plus rehabilitation costs
  • Three Rivers purchases property and arranges rehabilitation work
  • Closing by Three Rivers
  • Rehabilitation work is initiated
  • $500 earnest money is provided by homebuyer and closing date designated
  • Rehabilitation work is completed
  • Home is sold by Three Rivers to first time homebuyer

Qualification documentation needed:

  • Loan Commitment Letter
  • Copies of last two (2) years tax returns for all applicants/family members
  • Three (3) most current consecutive months bank statements for each applicant/family member
  • Verification of Employment for each family member.

 If you are interested in more information please call our office at (402) 374-2056 or download our application - Three Rivers HDC Application for Assistance.

 You can fax it to 402-374-1593 or send via email to This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. 

 2022 Annual Income Limits at 120% AMI

Household Size Burt County Washington County Cuming County Dodge County
1 $66,000 $79,900 $68,300 $66,000
2 $75,450 $91,300 $78,050 $75,450
3 $84,900 $102,700 $87,800 $84,900
4 $94,300 $114,100 $97,550 $94,300
5 $101,850 $123,250 $105,350 $101,850
6 $109,400 $132,400  $113,150 $109,400

Subject to change without notice