Interest Rate
Average home price

If you are considering buying a home in Nebraska, you’ll want to be sure that you are getting the best mortgage rate possible. Your mortgage rate will depend on many factors including the level of your income and debt-to-income ratio, how much you can put up for a down payment, and your current credit score.

It’s easy to discover the best mortgage rates in Nebraska. Simply get your documentation ready for pre approval by a creditable mortgage lender, and remember to check your credit for errors.

Here’s a quick look at current Nebraska mortgage rates:

Loan Program Mortgage Rate APR* 1 Day Change
Conventional 30 year fixed 6.625% 6.7% +0.04%
Conventional 20 year fixed 6.062% 6.188% Unchanged
Conventional 15 year fixed 5.95% 6.073% +0.05%
Conventional 10 year fixed 5.603% 5.795% Unchanged
Conventional 7 year ARM 6.688% 7.497% Unchanged
Conventional 5 year ARM 6.638% 7.683% +0.01%
FHA 15 year fixed 6.516% 7.216% Unchanged
FHA 30 year fixed 6.025% 6.787% -0.01%
VA 30 year fixed 5.909% 6.184% Unchanged
VA 15 year fixed 5.487% 5.984% Unchanged
VA 5 year ARM 6.188% 7.031% Unchanged

Data source: ©Zillow, Inc. Use is subject to the Terms of Use

Buying a Home in Nebraska

All set to buy a home in Nebraska? This could be the perfect time to find your dream home in the Cornhusker State. Here’s all you need to know:
Where might you want to live? Also known as the Beef State, Nebraska with a total population of more than 1.8 million persons, and nearly one in nine live in the state’s top six biggest cities:

  • Omaha
  • Lincoln (state capital)
  • Bellevue
  • Grand Island
  • Kearney
  • Fremont

Then comes the question of how much home you can afford. Nebraska ranks 35th in US homes for sale at average price, and 47th for homes over $1,000,000. Always get pre approved and calculate your budget before you start house hunting.

First-time Homebuyers

First time home buyers may qualify for assistance administrated by the Nebraska Investment Finance Authority’s (NIFA.) The Homebuyer Assistance Program (HBA) offers a low-interest mortgage and down payment assistance.
If you qualify for an HBA first mortgage you’re eligible for down payment assistance in the form of a second loan of up to 5% of the home’s purchase price with a maximum of $10,000. The interest rate on this loan is 1% and the loan term is 10 years.
NIFA’s First Home Grant Program could mean you receive a $5,000 grant to go towards your down payment or closing costs. You don’t have to repay the grant.

Qualifications require that you:

  • Contribute at least $1000 to the purchase
  • Have a 640-660 minimum credit score
  • Have a 45%-50% debt-to-income (DTI) ratio
  • Complete homebuyer education course
  • Meet NIFA income limits and purchase price limits

Refinancing in Nebraska

Consider refinancing your home in Nebraska to take advantage of favorable Nebraska mortgage rates. You can do any of the following:

  • Refinance to pursue a lower interest rate
  • Refinance and get a longer term
  • Refinance for cash-out equity
  • Refinance to divest yourself from private mortgage insurance (PMI)

You may qualify for a streamlined refinance if you have a certain type of loan. Ask your lender for more information.


Buying a Home?

Each step-by-step guide is designed to shepherd you through a process from start to finish. Know what to expect and how to proceed, no matter where you are in your home buying journey.

1 The First Step in Buying a Home – Preapproval

What Is a Mortgage Preapproval? | How Much Will My Monthly Payment Be? | How Much Will My Down Payment Be? | How Long Does a Mortgage Preapproval Last? | What Is the Difference Between a Standard Preapproval and an Underwritten Preapproval?

Read More

3 How much money do I need?

How Can I Lower My Mortgage Payment? | How Can I Lower My Closing Costs? | When Do I Pay Out-Of-Pocket Costs? | What are Prepaid Items or Escrows? | What Will My Closing Costs Be?

Read More

4 The Basics of Mortgage

What Documents Need to be Updated During the Home Loan Process? | What Contingencies Do I Need? | How Important is the Closing Date? | Steps in the Loan Process | Understanding Common Mortgage Terms

Read More

5 Finding a Real Estate Agent

What Are the Top 6 Questions to Ask a Real Estate Agent? | Should I Use the Seller's Real Estate Agent? | Are Online Discount Realty Services a Good Idea? | How Much Does a Buyer's Real Estate Agent Cost? | Why Do I Need a Real Estate Agent to Buy a Home?

Read More
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