Nebraska Statutes 58-211.01. First-time homebuyer, defined
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First-time homebuyer shall mean a low-income or moderate-income person who has had no present ownership interest in his or her principal residence at any time during the three-year period ending on the date a mortgage loan financed by the authority is received.
Terms Used In Nebraska Statutes 58-211.01
- Authority: shall mean the Nebraska Investment Finance Authority. See Nebraska Statutes 58-209
- First-time homebuyer: shall mean a low-income or moderate-income person who has had no present ownership interest in his or her principal residence at any time during the three-year period ending on the date a mortgage loan financed by the authority is received. See Nebraska Statutes 58-211.01
- Loan: shall mean any lending arrangement pursuant to a financing agreement. See Nebraska Statutes 58-215
- Low-income or moderate-income person: shall mean any person irrespective of race, religion, creed, national origin, or sex determined by the authority to be eligible for such assistance as is made available by the Nebraska Investment Finance Authority Act on account of insufficient personal or family income, taking into consideration without limiting the generality thereof such factors as:
(1) The amount of income of such person available for housing needs. See Nebraska Statutes 58-216