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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||5.951%||6.031%||-0.18%|
|Conventional 20 year fixed||5.986%||6.103%||-0.17%|
|Conventional 15 year fixed||5.018%||5.119%||-0.29%|
|Conventional 5 year ARM||5.566%||6.604%||+0.27%|
|FHA 30 year fixed||5.625%||6.348%||Unchanged|
|VA 30 year fixed||5.428%||5.744%||-0.14%|
|VA 15 year fixed||4.703%||5.351%||+0.03%|
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:
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 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:
Consider refinancing your home in Nebraska to take advantage of favorable Nebraska mortgage rates. You can do any of the following:
You may qualify for a streamlined refinance if you have a certain type of loan. Ask your lender for more information.
Use our free mortgage calculator tools to estimate your monthly mortgage payments based on your unique loan scenario. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.
Wondering what your monthly mortgage payment might be? Plug in your data to get an instant mortgage payment estimate.
Military service can mean eligibility for a no-down payment mortgage. Find out if you qualify for a VA home loan.
Designed for first-time and low-income homebuyers, an FHA loan could put you on the path to home ownership fast.
Seeking to refinance? Find out how much you can save in interest over the term of your home loan by refinancing now.
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.