Buying a House in Phelps County is Easier Than Ever With GO! Home Housing 2.0 Grants

June 28, 2024

Nearly half of potential homebuyers say they can’t afford a down payment, making it one of the biggest barriers to entry for people who want to enter the housing market. Home prices remain high across the country, increasing the amount of money first-time homebuyers need to save before they can look at properties.

Phelps County, Nebraska is a top place to buy a home because of its affordability. Home prices are cheaper, so down payments can be smaller. However, it is also desirable because of the people who live here. The local residents make Phelps a great place to live.

“We are a safe community for young couples who are thinking of starting a family,” says Janet Boehler, a Realtor at NAS Realty in Holdrege. “We offer private and public elementary schools and have a nice middle school and high school. Also this year the new baseball complex should be complete which will draw many area tournaments to our community.”

Recently, the Phelps County Development Corporation (PCDC) took steps to make homeownership more affordable for anyone who wants to live in Phelps. Learn more about the GO! Home 2.0 down payment assistance program that helps both residents and employers.

Take Advantage of GO! Home 2.0

The GO! Housing incentive program helps employers attract top talent to Phelps County while supporting existing employees. The most recent version of the program matches up to $2 for every $1 that an employer contributes to rental relocation or the purchase of a new or existing home.

For example, an employee who wants to buy a new construction property can receive up to $5,000 from PCDC and $2,500 from their employer. The employee would receive $7,500 total. However, there is no cap on what an employer can contribute, and they may decide to exceed this amount.

Grants for existing construction are issued at a $1 match for every $1 spent. This means an employee purchasing a previously occupied home could receive up to $2,500 from PCDC to match the $2,500 provided by an employer.

“This program has been incredibly successful and we are happy to expand it,” says Ron Tillery, Executive Director of PCDC. “Since 2017, nearly 300 residents have moved to Phelps County through this program and it has supported $17 million in real estate sales. We can’t wait to see the impact of our GO! Home 2.0 contributions.”

Phelps County is More Affordable Than the Rest of The Country

Phelps County provides a great opportunity for people to buy homes and establish their families because of its affordability. The average home value in the United States is $360,681 as of 2024. A first-time homebuyer with a six percent down payment would need to save nearly $22,000 to qualify for a loan. Conversely, the average home value in Phelps County is $192,721. A six percent down payment is closer to $11,500. This means the grant from the GO! Home 2.0 program could cover most, if not all, of the down payment.

These numbers are only rough estimates and Boehler encourages buyers to talk with mortgage lenders before they start looking. This will give them a clearer picture of their housing budget and down payment needs.

“Being a first-time homeowner will be a little nerve-racking, but remember you are investing in something that will most certainly go up in value,” she says.

Phelps is a Wonderful Place to Live

Affordable housing isn’t the only reason to move to Phelps County. Many people enjoy the tight-knit communities of Holdrege, Bertrand, Atlanta, Loomis, and Funk. New residents quickly get to know their neighbors and enjoy support from the local business community. The quality of life can’t be beat.

“You have a place in Phelps County,” says Tillery. “Whether you are an individual looking for work or want to relocate your family to a community-oriented area. We can help you find a home here.”

Phelps County Development Corporation has the tools, information, and skills to assist you with relocation for your business or family. PCDC is ready to help with housing and project advocacy, including permitting, timely utilities, and financial assistance. Contact PCDC at (308) 995-4148 or pcdc@phelpscountyne.com today. To further explore “Why Phelps,” download the community guide.