Today's Mortgage Rates in Nebraska

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Updated: July 16, 2024

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Today's 30-year mortgage rate in Nebraska hovers around 6.75%, tracking close to the national average of roughly 6.90% for the same type of loan. In Nebraska, homebuyers can tap into beneficial programs such as the First Home Program and the Military Home Program, which serve to help curtail mortgage expenses.

We'll help you grasp the nuances of average mortgage rates across Nebraska, including how they vary by loan type and credit score. You'll access expertise on mortgage types, structures, lenders in Nebraska and an understanding of interest rates versus APR, all tailored to give you a platform from which to navigate your home financing with confidence.

MoneyGeek uses publicly available data from Zillow for the rates on this page. Mortgage rates shift daily, and we take a snapshot of rates to analyze rate information for Nebraska. We update the data frequently to ensure you have access to the most recent rates, but the values may differ slightly between reporting sources.

Unless specifically noted otherwise, rates featured in content are annual percentage rates (APRs).

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This data was last updated on July 2, 2024.

Current Mortgage Rates in Nebraska

The current mortgage rate in Nebraska for a 30-year fixed-rate mortgage is 6.75% as of July 2024 — up slightly from 6.71% the previous month. On a $250,000 loan with a 20% down payment, that tiny increase can mean you would pay an additional $1,907 over the life of the loan, not including other costs like property taxes and HOA fees. Our line chart displays the subtle yet tangible impact these rate changes have on the long-term cost of a mortgage.

Current Mortgage Rates in Nebraska (Jan to May)

Understanding the current mortgage rate in Nebraska can help you budget because rates may vary each day due to economic indicators and Federal Reserve actions. Our line chart demonstrates the trends of mortgage rates across a span of months, allowing you to see and prepare for these shifts.

Who Needs to Know Today's Mortgage Rates in Nebraska?

Today's mortgage interest rates in Nebraska offer valuable insight for both first-time homebuyers and those looking to refinance in the state's housing market:

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    First-time homebuyers

    Getting to know Nebraska's current mortgage rates helps first-time homebuyers gauge the rates they might be offered and compare these to the market.

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    Homeowners with mortgages

    Current homeowners can look at Nebraska's mortgage rates to decide if they should refinance their mortgage for a better rate.

Purchase rates and refinance rates for mortgages aren't identical. For example, in Nebraska, the current mortgage rate you could get for a new 30-year fixed-rate loan is typically around 6.75%, while the refinance rate for the same loan type might be higher at about 8.07%. Keep this in mind when looking at options because it can impact your monthly payments and total loan cost.

Current Mortgage Rates in Nebraska by Loan Type

A 30-year fixed-rate mortgage typically has a higher rate than a 15-year fixed-rate mortgage. With a 30-year term, lenders face more exposure to interest rate fluctuations and borrower default over time. By contrast, a 15-year mortgage shortens the timeframe and reduces the lender’s risk, often resulting in a lower rate for you.

You may want to explore all mortgage loan types in Nebraska to understand what suits your plans. A mortgage calculator is a handy tool to estimate your monthly payments and the total cost of a loan over time, accounting for the interest rate and other factors.

Data filtered by:Results filtered by:
Loan Type:
Loan Type:10-Year Fixed
5.60%APR5.80%
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INTEREST RATE VS. APR: WHAT'S THE DIFFERENCE?

The interest rate represents the annual cost to borrow money for a mortgage. In Nebraska, the average mortgage interest rate for a 30-year fixed mortgage is 6.66%.

The APR, or annual percentage rate, reflects the mortgage interest rate plus any mortgage points and other fees associated with the loan. Nebraska's average APR for a 30-year fixed mortgage is 6.75%. This rate shows you the total annual cost for the mortgage, which can influence your decisions around financing your home.

Current Mortgage Rates in Nebraska by Credit Score

In Nebraska, if your credit score is a solid 740 or higher and you put down a 5% to 20%, you'll find the average APR for a 30-year fixed mortgage is 7.01%. Slide below a 680 credit score and that rate nudges up to an average 7.71% APR.

Your credit score directly impacts the mortgage rates you might see in Nebraska. To give you a clear picture, we've created an interactive table: investigate the rates you could access based on your credit score and down payment:

Data filtered by:Results filtered by:
Credit Score Range:
Credit Score Range:680 - 740
Down Payment:
Down Payment:20% or higher
10-year FixedAPR6.49%
15-year FixedAPR6.24%
20-year FixedAPR6.91%
30-year FixedAPR7.16%
5-year ARMAPR7.82%
7-year ARMAPR7.65%

Mortgage Types in Nebraska

In July 2024, 30-year fixed-rate VA loans in Nebraska are at the forefront with the lowest average APR at 6.35%. Knowing your mortgage options can save you money — each loan type offers different benefits and the right one depends on your unique situation. Here are the mortgage loan types available in Nebraska:

Mortgage Type
Definition
Impact on Rates
30-Year Rates in Nebraska

Conventional Loans

A conventional loan in Nebraska is not insured or guaranteed by the government.

Rates may vary based on credit score and down payment with a conventional loan.

6.75%

FHA Loans

An FHA loan in Nebraska is backed by the Federal Housing Administration.

FHA loans typically offer lower rates for buyers with lower credit scores.

7.10%

VA Loans

VA loans in Nebraska are backed by the Department of Veterans Affairs for eligible service members.

VA loans offer competitive rates to veterans, often without a down payment.

6.35%

USDA Loans

USDA loans in Nebraska are for rural homebuyers and backed by the Department of Agriculture.

USDA loans offer low rates for qualified rural and suburban homebuyers.

currently unavailable

Jumbo Loans

A jumbo loan in Nebraska exceeds the conforming loan limits set by the FHFA.

Jumbo loans usually have higher rates due to the larger loan amount.

7.09%

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MORTGAGE RATE STRUCTURES IN NEBRASKA

Mortgage rates in Nebraska come in two types: fixed and adjustable.

  • Fixed-rate mortgages offer stability as your monthly mortgage payments remain the same throughout the loan. This helps in better budgeting.
  • Adjustable-rate mortgages begin with a lower interest rate that can adjust over time, potentially lowering your payments when interest rates drop.

As of July 2024, Nebraska has an average APR of 6.75% for a 30-year fixed-rate loan and 7.59% for a seven-year adjustable rate mortgage. These rates significantly shape your borrowing experience and future financial planning.

Mortgage Lenders in Nebraska

Lower, Bank of America and New American are solid picks for securing a mortgage in Nebraska, selected for their state availability, Better Business Bureau accreditation and homeowner assistance programs. Other lenders in Nebraska might fit your specific mortgage needs.

Your mortgage rate in Nebraska can vary depending on the lender you choose. Different lenders have unique mortgage options and terms, affecting the rates they offer. To secure the best deal, compare rates from various mortgage lenders in Nebraska.


  • Lower.com
    • 5Number of Mortgage Options
    • YesOnline Application
    • A+BBB Rating
    • Monday to Friday, 9 am to 5 pm ETCustomer Service Hours

    If you're looking for mortgage options in Nebraska, Lower stands out as a lender worth considering. It operates online only, giving you quick and easy access to its services from anywhere with an internet connection. Lower offers a range of mortgage options including conventional and FHA loans. To apply for a mortgage, the minimum credit score required is 580. It keeps the minimum down payment details private, though these can often vary based on the specific loan product and borrower qualifications.

    Lower also shines with its customer support, ready to assist you Monday to Friday, 9 am to 5 pm ET via phone and text. Additionally, it provides an assistance program called Buy Before You Sell, designed to help homeowners transition smoothly between properties. Recognized for its excellence in the field, Lower also tops the charts as the leading HELOC lender in most states, according to MoneyGeek's analysis. With a comprehensive approach to lending and support, Lower ensures a streamlined experience for homebuyers.

    Pros

    • Allows online prequalification
    • BBB-accredited, A+ rated
    • Buy Before You Sell program available

    Cons

    • Limited mortgage product uniqueness
    • In-person support unavailable
    • Full online application not possible
    Lower.com

  • New American
    • 8Number of Mortgage Options
    • YesOnline Application
    • ABBB Rating
    • Monday to Friday, 8 am to 9 pm CT Saturday, 10 am to 2 pm CTCustomer Service Hours

    New American offers a variety of mortgage options in Nebraska to suit different needs. Borrowers can choose from conventional loans, which require a minimum down payment of 3%, or FHA loans, which allow for down payments as low as 3.5% to 10% depending on the borrower's credit score. The minimum credit score for an FHA loan is at least 580. New American ensures that potential homeowners have access to a wide range of mortgage products, making the journey to homeownership more accessible for many.

    New American provides customer service from 8 am to 9 pm CT on weekdays and 10 am to 2 pm CT on Saturdays, offering support via phone and email. Additionally, it has homeowners assistance programs available, offering loan assistance solutions to help keep homeownership within reach. New American stands out not just for its mortgage options but also for the support it lends to its clients every step of the way.

    Pros

    • Wide range of mortgage options
    • Mortgage management mobile app
    • 14-day close guarantee on purchases

    Cons

    • No comprehensive FAQ section
    • Cannot prequalify or check rates online
    • No physical branches in 11 states
    New American

  • Bank of America
    • 6Number of Mortgage Options
    • YesOnline Application
    • ABBB Rating
    • Monday to Friday, 8 am to 10 pm ET Saturday 8 am to 6:30 pm ETCustomer Service Hours

    If you're exploring mortgage rates and options in Nebraska, Bank of America might be on your radar. It offers a range of mortgage choices such as fixed- and adjustable-rate mortgages, and specializes in products like Jumbo, FHA, VA, Affordable Loan Solution, and Doctor Loans. While it hasn't disclosed minimum credit scores, homebuyers can take advantage of low down payments, starting at 0% for VA loans and 3% for the Affordable Loan Solution mortgage.

    Bank of America is accessible online and in-person, catering to a variety of preferences. It provides customer service hours from 8 am to 10 pm ET on weekdays and till 6:30 pm ET on Saturdays through various support channels including virtual, phone, and in-person assistance. Moreover, it offers homeowners assistance programs such as America’s Home Grant® and Down Payment Grant, aiding eligible borrowers in making homeownership more achievable.

    Pros

    • Extensive special mortgage options available
    • Provides payment forbearance via Client Assistance Program
    • Online calculators to assist with financial planning

    Cons

    • Must create an online profile to prequalify
    • No disclosure of minimum credit score
    Bank of America

Mortgage Programs in Nebraska

Owning a home brings hidden costs aside from your regular payments. In Nebraska, you have support from the Nebraska Investment Finance Authority. They provide mortgage programs to guide you through the homebuying process.

Program
Content

First Home Program

The First Home Program is ideal for you if it's been over three years since you owned a home or if you're a first-time buyer. This program shines if you don't seek down payment aid. If you're purchasing in Adams or Lancaster County, you might be eligible for the First Home Targeted Program, offering higher income and purchase price caps. You don't need to be a newbie buyer.

First Home: Assistance Program

If you're struggling to gather funds for down payment and closing costs? The First Home: Assistance Program helps you overcome this hurdle with only $1,000 minimum investment. This path combines two mortgage loans, with the first bearing a higher rate accommodating down payment and closing support, while the second tops at 5% home value, charging just 1% interest.

Military Home Program

If you're serving in the military or are a veteran, consider the Military Home Program. Veterans and spouses may have more options, while active service members need to be first-time buyers. This program offers alternatives to VA loans, like FHA or USDA, tailoring to those who serve with a range of rate choices.

Welcome Home

The Welcome Home program could be perfect for both first-time and seasoned homebuyers. A smoothed path to owning a home awaits with income limits of $160,000 and purchase prices up to $470,000. You will need to wrap up a homebuyer education course before you close if you're new to this. Plus, you get down payment and closing cost assistance.

FAQ: Mortgage Rates in Nebraska

We’ve answered your pressing questions about today’s mortgage rates in Nebraska. Understanding these rates can help you make informed decisions during your home-buying process in the Cornhusker State.

What are the current mortgage rates in Nebraska?
How do mortgage rates in Nebraska compare to national rates?
How does my credit score impact the mortgage rates I get in Nebraska?
Are there any special mortgage programs in Nebraska to help homebuyers?
How can I get the best possible mortgage rate in Nebraska?
What are today's mortgage refinance rates in Nebraska?
How do I calculate my mortgage payments?

About Zachary Romeo

Zachary Romeo headshot

Zachary Romeo is the Head of Loans and Banking at MoneyGeek, with over 10 years of experience and forthcoming certification as a Commercial Banking and Credit Analyst (CBCA). Previously, he led production teams for some of the largest online informational resources in higher education.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt through people-first content.

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