Housing Programs
Crown Program
Holy Name Housing Corporation (HNHC) has constructed over 200+ single family homes for families willing to participate in a homeownership program.
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The Crown Program homes consist of three, four and five bedroom homes with full basements and garages. These are scattered sites located predominantly in Northeast Omaha.
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The Crown Program offers an affordable rental home, a homeownership incentive account (portion of rent is set aside monthly for down payment assistance if a home is purchased) and basic life skills and financial education.
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The Crown Program requires tenants to attend educational workshops annually learning how to create a budget, financially prepare for ‘life happens moments,’ learn maintenance to prepare for owning a home and learning about asset building strategies.
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The ultimate goal for this program is to prepare tenants in becoming homeowners!
Eligibility for Crown
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Your income does not exceed 60% of median income for the City of Omaha.
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You have a minimum household income of 3X Monthly Rent.
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Acceptable credit, landlord and background checks.
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You desire to be a home owner and the willingness to attend mandatory workshops on maintenance and homeownership.
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You need time to save for the cash requirements of purchasing a home.
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You want to contribute to neighborhoods, so they are a good place to live.
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Benefits of Crown Program
Opportunity to rent newer homes at an affordable cost of approximately $625 to $925 a month.
Opportunity to save for home ownership. A portion of monthly rent is placed in a homeownership assistance fund that will assist in purchasing a home.
Opportunity to receive education essential to sustaining home ownership such as: budgeting, credit, home maintenance, and addressing neighborhood issues.
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OUR WAITLIST FOR THE CROWN PROGRAM IS CURRENTLY CLOSED.
Affordable Senior Housing
Eligibility for Affordable Senior Housing
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Your income does not exceed 60% of median income for the City of Omaha.
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You have a minimum household income of $16,094.
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Acceptable credit, landlord and background checks.
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OUR SENIOR WAITLIST IS CURRENTLY CLOSED.
HNHC identified the need for senior housing in the area we served as the populations are aging and many households are unable to live in and care for their homes.
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HNHC has built and currently manages 111 senior housing units: 74 cottage style, two-bedroom senior housing units with 25 cottage-style units currently under construction; and a 37 unit apartment building.
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Our senior housing tenants are provided support services as needed.
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Shared Equity Program
SEP is a program in which Holy Name Housing Corporation (HNHC) and the tenant share in the equity of the property to fulfill the tenant’s goal of home ownership. The description of how equity is shared is as follows:
The initial cost of the home (“equity”) is paid for by HNHC through various funding sources (including NAHTF). The tenant will enter into a rental lease agreement with HNHC for ten years that includes mandatory homeownership training requirements.
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At the end of the ten-year lease period, provided the lease has not been terminated and the tenant is not in default under any of the terms or conditions of the lease, the tenants will have the option to purchase the home. The tenant and HNHC will “share” equally in the initial cost of the home (equity) – HNHC pays upfront to build the home and the tenant will pay their portion of the equity by obtaining a mortgage. The sales price to the tenant will be equal to the remaining debt on the home. This amount will be less than half of the original equity.
The plan is for the tenant to be prepared to obtain a mortgage after the tenth year by working with support services on budgeting, credit and other homeownership training throughout their tenancy.
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During the lease period, the tenant will be required to maintain the home as it is their own, maintaining the equity or even increasing the equity over time. Any unused replacement reserves held by HNHC at the end of the ten years, will be used by the tenant to cover closing costs or used as down payment assistance for the home. HNHC will also direct the tenant to other sources of down payment assistance in the community.
​ Eligibility Requirements
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Your income does not exceed 120% of median income for the City of Omaha.
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You have a minimum household income of $50,000.
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Acceptable credit, landlord and background checks.
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You desire to be a home owner and the willingness to attend workshops on maintenance and homeownership.
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You need time to save for the cash requirements of purchasing a home.
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You want to contribute to neighborhoods, so they are a good place to live.
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THE SHARED EQUITY PROGRAM IS CLOSED AT THIS TIME
Partners & Supporters
Contact
Inquiries
For any inquiries, questions or commendations, please call: 402-453-6100 or fill out the following form.
Contact Us
Head Office
The mission of Holy Name Housing is to provide quality affordable housing options and homeownership education in Omaha and surrounding communities. To strengthen neighborhoods and empower individuals and families to be informed responsible residents. To respect all residents’ rights to quality affordable housing in a safe and healthy community.
1983
Year Established
560
New Construction Units Built
175
Units Rehabbed
181
Homeowners Made