Home loan assistance is available

The McCook Economic Development Corp. recently received the release of funds from the Nebraska Department of Economic Development to activate its $95,400 grant for a downpayment assistance program.

This program targets first-time homebuyers in McCook Nebraska that meet certain income levels. First-time homebuyers will be required to complete a REACH approved homebuyer education class and qualify for a home loan from a local lender. Potential participants should complete an application and turn it into MEDC for consideration.

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Applications will be reviewed on a first-come, first served basis. Applications will be verified and the participants approved through the MEDC housing committee and board of directors. Upon approval, the participant will receive approximately $3,000 of downpayment assistance.

Applications will be available at the MEDC office located at 301 Norris Ave. on the second floor. Applications may also be obtained from area lenders, real estate agents, insurance agents, McCook Housing Agency, Community Action Partnership of Mid-Nebraska and USDA.

Applications are available at e-mail mary@ mccookne.org or by calling (308) 345-1200 for an application to be mailed to you. The mailing address is McCook Economic Development Corp. PO Box 626, McCook, NE 69001.

Additional information that will be helpful in determining if you are eligible:

This program will serve those at or below 100% of the median income levels. Household size and income limits are: 1 person - $36,100; 2 person - $41,100; 3 person - $46,300; 4 person - $51,400; 5 person - $55,500. For larger households, the MEDC staff will assist you with the income levels. If you have not owned a home in three years or have experienced a life change such as divorce or widowed you may qualify as a first-time homebuyer.

MEDC established the housing program through a capacity grant from the Department of Economic Development in 2001. Currently, MEDC provides five Homebuyer Education classes a year and the next eight-hour class is scheduled for Saturday, Nov. 3, from 9 a.m. -- 5 p.m. at McCook Community College.

Officials involved with the MEDC housing committee include Rex Nelson, Executive Director; Mary Seybold, Housing Development Director; Becky Dutcher; Colleen Grant; Val Kircher; Randy Korgan; and Barb Ostrum.

For more information, contact Mary Seybold at McCook Economic Development Corp., (308) 345-1200 or mary@mccookne.org.