Programs & Assistance
Wayne Community Housing Development Corporation is a proactive nonprofit organization working
to improve the community of Wayne, Nebraska, and its surrounding area,
through affordable housing development.
The Home Purchase/Rehab/Resell program (PRR) utilizes HOME funds from the Department of Housing and Urban Development (HUD) to provide down payment assistance to any homebuyers who meet the income eligibility requirements and wish to purchase a single-family residence.
Wayne Community Housing Development Corporation (WCHDC) works with eligible homebuyers to identify housing units that need improvements to bring them in line with current housing standards. Then, WCHDC purchases the property, performs the necessary improvements in cooperation with the family's wishes, and ultimately resells the residence to the family. Additionally, WCHDC provides down payment assistance to help make first mortgage financing possible.
- The maximum amount of assistance allowed by P/R/R is $20,000, or up to 20% of the final sale price of the rehabbed residence, whichever is less.
- The selling price plus rehab costs shall not exceed $157,000.
- The applicant is required to provide a minimum of $500 cash investment.
- The P/R/R assistance is a deferred, 0% interest loan. Loan payment is due upon resale of the home, when the primary mortgage is paid off, and/or with any transfer of the property.
- All P/R/R applications will be approved on a first-come, first-served basis. Eligibility for this program is determined by family size and household income.
- The P/R/R program is open to any household where the gross income projected for the upcoming year does not exceed 80% or 100% of the median household income for Wayne, Cuming, Thurston, Dodge, Washington, and Burt Counties.
- The applicant must also qualify for first mortgage financing.
- A letter of commitment is required from the mortgage lender and ratios should not exceed WCHDC's current ratio requirements.
- Applicants are required to secure their own home loan for the remaining balance of the sale price through a first mortgage lending institution.
- Applicants who qualify for this program may also be eligible for first mortgage funding through USDA-Rural Development direct loan programs and other first-time homebuyer programs.
- The home must require a minimum of $1,000 in improvements and must be a single-family residential property within the service area of WCHDC.
- No property, or portion thereof, assisted through the program, may be retained for rental purposes of any kind.
- The property chosen must be priced in a way that the necessary improvements can be funded and the final sale price will remain under the maximums set forth by this program and/or HUD.
- Applicants must complete a homebuyer education course as defined by WCHDC prior to the closing date on any home purchase. It is recommended that applicants complete this course prior to beginning the search for a home. This course provides valuable information which is helpful to the homebuyer.
- Applicants shall not currently own or have any other interest in other real property.
- Complete initial review with WHCDC
- Complete Homebuyer Education
- Homebuyer obtains mortgage loan from lender of choice
(Loan Approval & WCHDC's Ratios)
- Homebuyer seeks and identifies housing unit on their own or through their estate agent of choice
- Homebuyer notifies WCHDC when the housing unit is identified so an inspection can be made
- Inspection/bids from contractors
- List of rehab needs and costs are reviewed with the homebuyer; if agreeable, WCHDC purchases the home from the seller upon Board approval
- Homebuyer provides $500 earnest money
- WCHDC purchases property and arranges rehabilitation work
- House must appraise at purchase + rehab cost
- Rehab work done
- Upon completion, home is sold to homebuyer
The purpose of Wayne Community Housing Development Corporation’s (WCHDC) Rural Workforce Housing Fund (RWHF) program is to provide funding opportunities for housing developers/contractors to build or rehabilitate workforce housing in the community as well as provide closing cost assistance to qualified first time homebuyers.
REACH is a homebuyer education course for first time homebuyers. REACH helps individuals with Homebuyer Education, Post Purchase planning strategies, Money Management financial courses, Foreclosure Prevention, and Manufactured Housing Homebuyer Education. To learn more, please visit the REACH website.
WCHDC offers a coupon code for these services. Code: WCHDC49
The Prairie Park Apartments is a new apartment complex located adjacent to the City of Wayne's new Prairie Park complex. The new park will feature a 4-acre lake, camper pads, additional softball fields, new soccer fields, an amphitheater, and extended walking trails.
Prairie Park Apartments is offering units with 1-bedroom, 2-bedroom, and 3-bedroom layouts, and boasts amenities such as on-site clubhouse/fitness center/pool, off-street parking, high-speed fiber internet, in-unit washer/dryer, all-electric utilities, ADA accessibility, patios, and balconies. To learn more, please visit the Prairie Park Apartments website.
- 1-bedroom: $1150/month, 748 sq. ft.
- 2-bedroom: $1350/month, 1056 sq. ft.
- 3-bedroom: $1550/month, 1283 sq. ft.