PCDC Grants Spur Home Sales in Phelps County

The Russell and Deanna Henderson family is one of the newest families to move to Holdrege with the help of PCDC down payment assistance grants, which were expanded last summer.

Russell Henderson accepted the position of campus pastor at Holdrege’s New Life Church on Memorial Day 2024. The Hendersons, who were living in Oklahoma at the time, immediately started looking at homes to purchase in Holdrege. While searching for homes online, they discovered a newly constructed home in CREW Subdivision that they liked. However, the price seemed out of reach.

Deanna conducted a Google search for down payment assistance and discovered a news release on the Holdrege Area Chamber of Commerce website about the recently updated down payment assistance grants through PCDC. Deanna started work as the administrative assistant at the Holdrege Chamber in mid-July 2024 while they were living in Kearney with relatives and searching for a home in Holdrege.

“The article explained the benefits of purchasing a home in Phelps County from the employer’s perspective,” Deanna said. “I sent the article to our employer, New Life Church, and asked if they would help us. They immediately said ‘yes!’” 

With PCDC’s $5,000 grant and a $2,500 matching contribution from New Life Assembly, the Hendersons received $7,500 in down payment assistance making their new home purchase possible. They closed on the house and moved in the first week of August 2024.

“The PCDC down payment assistance grant helped our family afford a home where we can live, work, and play and give back to the Holdrege community,” Deanna said.

PCDC updated its down payment assistance grants in June 2024 to include an extra $2,500 in grant funds to purchase new construction homes in the county. For new homes, PCDC will contribute $5,000 with a $2,500 matching grant from the employer for a total of $7,500 in down payment assistance.

Several new homes are available to purchase in Holdrege in the CREW subdivision and in the new Northern Meadows subdivision.

For existing homes, PCDC will match dollar for dollar what an employer gives up to $2,500 for a total of $5,000 toward the cost of the home.

In addition, the PCDC GO! HOME grants are now open to everyone, not just new residents.

Applications must be initiated by the employer and must be provided to PCDC for review and approval at least three weeks before the closing. 

Other GO! HOME grants offered by PCDC include:

• Renter’s Relocation Reimbursement Grant: Up to $500 to assist a current employee living outside the county or a new employee move to Phelps County.
• Public Employees / Self Employed: No match is required. Up to $2,500 for an existing home and up to $5,000 for a new construction home to assist a current or new public employee in Phelps County. 
• Mobile Home Down Payment Assistance: PCDC will match an employer’s contribution up to $2,500 to purchase a mobile home in the county.

Since PCDC began offering the down payment assistance grants in 2017, the program has helped bring more than 300 new residents to Phelps County. 

Federal Housing Grants Open March 3

In addition to PCDC grants, potential home buyers who meet income limits may also qualify for grants through federal affordable housing programs. Combining these programs with PCDC grants boosts a buyer’s local home purchasing opportunity even further.

Jill Sutton, employee of Lincoln Federal Savings Bank in Holdrege, said a new round of federal grants are available on March 3, 2025, and are given on a first-come first-served basis until the grant funds are depleted. They are available through many area banks, including Lincoln Federal Savings. Sutton encourages interested home buyers to pre-qualify now so they are ready once the grants open.

Sutton said the closing costs on purchasing a home can deter some first-time home buyers, and these grants help take off some of the financial burden.

“It helps them get into a home and out of a rental situation,” Sutton said. “If they own a home, they will more likely stay in our community. This program helps us draw young individuals into our community to live here and raise their kids. It’s an exciting opportunity.”

Two programs are available:

• Home Ownership Set-Aside Program: First-time home buyers could be eligible for up to $15,000. Income limits for Phelps County are $77,350 for households with one to four people and $102,150 for households with five or more people.
• The HOPE Program: This program is not limited to first-time home buyers and is meant to provide access to homebuyers who do not traditionally receive support but may need assistance with down payment, closing costs, or eligible repairs. The program provides up to $12,500. For Phelps County, the income limit is $145,032 for households with one to four people and $191,532 for households with five or more people.

For details and an application for the federal housing grants, contact a local bank loan officer to determine personal and bank eligibility.

For details and applications for PCDC GO! HOME grants, visit the PCDC website.