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2022 FHA Loan Limits in Nebraska
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There’s good news for homebuyers in Nebraska looking for the flexible guidelines that come with loans backed by the Federal Housing Administration (FHA). In 2022, FHA loan limits rose to $420,680 for single-family homes for nearly all counties in the state.
Nebraska FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ADAMS | $420,680 | $538,650 | $651,050 | $809,150 | $142,000 |
| ANTELOPE | $420,680 | $538,650 | $651,050 | $809,150 | $60,000 |
| ARTHUR | $420,680 | $538,650 | $651,050 | $809,150 | $133,000 |
| BANNER | $420,680 | $538,650 | $651,050 | $809,150 | $167,000 |
| BLAINE | $420,680 | $538,650 | $651,050 | $809,150 | $91,000 |
| BOONE | $420,680 | $538,650 | $651,050 | $809,150 | $108,000 |
| BOX BUTTE | $420,680 | $538,650 | $651,050 | $809,150 | $77,000 |
| BOYD | $420,680 | $538,650 | $651,050 | $809,150 | $26,000 |
| BROWN | $420,680 | $538,650 | $651,050 | $809,150 | $55,000 |
| BUFFALO | $420,680 | $538,650 | $651,050 | $809,150 | $200,000 |
| BURT | $420,680 | $538,650 | $651,050 | $809,150 | $82,000 |
| BUTLER | $420,680 | $538,650 | $651,050 | $809,150 | $105,000 |
| CASS | $420,680 | $538,650 | $651,050 | $809,150 | $249,000 |
| CEDAR | $420,680 | $538,650 | $651,050 | $809,150 | $80,000 |
| CHASE | $420,680 | $538,650 | $651,050 | $809,150 | $125,000 |
| CHERRY | $420,680 | $538,650 | $651,050 | $809,150 | $129,000 |
| CHEYENNE | $420,680 | $538,650 | $651,050 | $809,150 | $91,000 |
| CLAY | $420,680 | $538,650 | $651,050 | $809,150 | $75,000 |
| COLFAX | $420,680 | $538,650 | $651,050 | $809,150 | $103,000 |
| CUMING | $420,680 | $538,650 | $651,050 | $809,150 | $96,000 |
| CUSTER | $420,680 | $538,650 | $651,050 | $809,150 | $75,000 |
| DAKOTA | $420,680 | $538,650 | $651,050 | $809,150 | $250,000 |
| DAWES | $420,680 | $538,650 | $651,050 | $809,150 | $100,000 |
| DAWSON | $420,680 | $538,650 | $651,050 | $809,150 | $159,000 |
| DEUEL | $420,680 | $538,650 | $651,050 | $809,150 | $77,000 |
| DIXON | $420,680 | $538,650 | $651,050 | $809,150 | $250,000 |
| DODGE | $420,680 | $538,650 | $651,050 | $809,150 | $150,000 |
| DOUGLAS | $420,680 | $538,650 | $651,050 | $809,150 | $249,000 |
| DUNDY | $420,680 | $538,650 | $651,050 | $809,150 | $91,000 |
| FILLMORE | $420,680 | $538,650 | $651,050 | $809,150 | $83,000 |
| FRANKLIN | $420,680 | $538,650 | $651,050 | $809,150 | $43,000 |
| FRONTIER | $420,680 | $538,650 | $651,050 | $809,150 | $60,000 |
| FURNAS | $420,680 | $538,650 | $651,050 | $809,150 | $62,000 |
| GAGE | $420,680 | $538,650 | $651,050 | $809,150 | $111,000 |
| GARDEN | $420,680 | $538,650 | $651,050 | $809,150 | $60,000 |
| GARFIELD | $420,680 | $538,650 | $651,050 | $809,150 | $94,000 |
| GOSPER | $420,680 | $538,650 | $651,050 | $809,150 | $159,000 |
| GRANT | $420,680 | $538,650 | $651,050 | $809,150 | $70,000 |
| GREELEY | $420,680 | $538,650 | $651,050 | $809,150 | $46,000 |
| HALL | $420,680 | $538,650 | $651,050 | $809,150 | $178,000 |
| HAMILTON | $420,680 | $538,650 | $651,050 | $809,150 | $163,000 |
| HARLAN | $420,680 | $538,650 | $651,050 | $809,150 | $65,000 |
| HAYES | $420,680 | $538,650 | $651,050 | $809,150 | $60,000 |
| HITCHCOCK | $420,680 | $538,650 | $651,050 | $809,150 | $68,000 |
| HOLT | $420,680 | $538,650 | $651,050 | $809,150 | $120,000 |
| HOOKER | $420,680 | $538,650 | $651,050 | $809,150 | $88,000 |
| HOWARD | $420,680 | $538,650 | $651,050 | $809,150 | $178,000 |
| JEFFERSON | $420,680 | $538,650 | $651,050 | $809,150 | $100,000 |
| JOHNSON | $420,680 | $538,650 | $651,050 | $809,150 | $76,000 |
| KEARNEY | $420,680 | $538,650 | $651,050 | $809,150 | $200,000 |
| KEITH | $420,680 | $538,650 | $651,050 | $809,150 | $135,000 |
| KEYA PAHA | $420,680 | $538,650 | $651,050 | $809,150 | $101,000 |
| KIMBALL | $420,680 | $538,650 | $651,050 | $809,150 | $79,000 |
| KNOX | $420,680 | $538,650 | $651,050 | $809,150 | $64,000 |
| LANCASTER | $420,680 | $538,650 | $651,050 | $809,150 | $221,000 |
| LINCOLN | $433,550 | $555,000 | $670,900 | $833,750 | $130,000 |
| LOGAN | $433,550 | $555,000 | $670,900 | $833,750 | $130,000 |
| LOUP | $420,680 | $538,650 | $651,050 | $809,150 | $146,000 |
| MADISON | $420,680 | $538,650 | $651,050 | $809,150 | $175,000 |
| MCPHERSON | $433,550 | $555,000 | $670,900 | $833,750 | $130,000 |
| MERRICK | $420,680 | $538,650 | $651,050 | $809,150 | $178,000 |
| MORRILL | $420,680 | $538,650 | $651,050 | $809,150 | $83,000 |
| NANCE | $420,680 | $538,650 | $651,050 | $809,150 | $69,000 |
| NEMAHA | $420,680 | $538,650 | $651,050 | $809,150 | $80,000 |
| NUCKOLLS | $420,680 | $538,650 | $651,050 | $809,150 | $37,000 |
| OTOE | $420,680 | $538,650 | $651,050 | $809,150 | $125,000 |
| PAWNEE | $420,680 | $538,650 | $651,050 | $809,150 | $41,000 |
| PERKINS | $420,680 | $538,650 | $651,050 | $809,150 | $75,000 |
| PHELPS | $420,680 | $538,650 | $651,050 | $809,150 | $125,000 |
| PIERCE | $420,680 | $538,650 | $651,050 | $809,150 | $175,000 |
| PLATTE | $420,680 | $538,650 | $651,050 | $809,150 | $182,000 |
| POLK | $420,680 | $538,650 | $651,050 | $809,150 | $107,000 |
| RED WILLOW | $420,680 | $538,650 | $651,050 | $809,150 | $100,000 |
| RICHARDSON | $420,680 | $538,650 | $651,050 | $809,150 | $83,000 |
| ROCK | $420,680 | $538,650 | $651,050 | $809,150 | $55,000 |
| SALINE | $420,680 | $538,650 | $651,050 | $809,150 | $140,000 |
| SARPY | $420,680 | $538,650 | $651,050 | $809,150 | $249,000 |
| SAUNDERS | $420,680 | $538,650 | $651,050 | $809,150 | $249,000 |
| SCOTTS BLUFF | $420,680 | $538,650 | $651,050 | $809,150 | $167,000 |
| SEWARD | $420,680 | $538,650 | $651,050 | $809,150 | $221,000 |
| SHERIDAN | $420,680 | $538,650 | $651,050 | $809,150 | $44,000 |
| SHERMAN | $420,680 | $538,650 | $651,050 | $809,150 | $106,000 |
| SIOUX | $420,680 | $538,650 | $651,050 | $809,150 | $167,000 |
| STANTON | $420,680 | $538,650 | $651,050 | $809,150 | $175,000 |
| THAYER | $420,680 | $538,650 | $651,050 | $809,150 | $53,000 |
| THOMAS | $420,680 | $538,650 | $651,050 | $809,150 | $154,000 |
| THURSTON | $420,680 | $538,650 | $651,050 | $809,150 | $69,000 |
| VALLEY | $420,680 | $538,650 | $651,050 | $809,150 | $88,000 |
| WASHINGTON | $420,680 | $538,650 | $651,050 | $809,150 | $249,000 |
| WAYNE | $420,680 | $538,650 | $651,050 | $809,150 | $127,000 |
| WEBSTER | $420,680 | $538,650 | $651,050 | $809,150 | $54,000 |
| WHEELER | $420,680 | $538,650 | $651,050 | $809,150 | $299,000 |
| YORK | $420,680 | $538,650 | $651,050 | $809,150 | $127,000 |
How are FHA loan limits determined?
FHA loan limits are based on a percentage of the conforming loan limits for conventional loans, which are published each year by the Federal Housing Finance Agency (FHFA). Although different limits are set for low-cost and high-cost areas of the country, the lower limits will apply to most counties in Nebraska.
Here’s how the calculations work: The low-cost limit or “floor” is $420,680 for a single-family home, which is equal to 65% of the 2022 national conforming loan limit of $647,200.
If you’re buying a multifamily home in Nebraska, the low-cost limits increase with each unit:
- $538,650 for a two-unit home
- $651,050 for a three-unit home
- $809,150 for a four-unit home
If you’re looking for a high-cost loan in another state, the limit is set at 150% of the conforming loan limit, which means you could borrow up to $970,800 for a single-family home in one of the most expensive parts of the country. However, there are three counties in Nebraska where the loan limit is $433,550: Lincoln, Logan and Mcpherson.
How to qualify for an FHA loan in Nebraska
FHA loans are a good alternative if you’re not able to get a conventional mortgage because your credit scores are lower, or if you have too much debt compared to your income.
Here’s a breakdown of the minimum requirements to qualify for an FHA loan in Nebraska:
- Down payment and credit score. The minimum down payment for FHA loans is 3.5% with at least a 580 credit score. Some FHA lenders will approve your loan application with a score as low as 500 — if you can make a 10% down payment.
- Debt-to-income (DTI) ratio. FHA lenders calculate your DTI ratio by dividing your total monthly debt payments by your before-tax income. The FHA prefers a maximum 43% DTI ratio, but may make exceptions for borrowers with high credit scores or extra savings.
- Mortgage insurance. The FHA requires two types of FHA mortgage insurance to protect lenders if you default. The first is an upfront mortgage insurance premium (UFMIP) worth 1.75% of your loan amount, which is usually added to your mortgage. The second is an annual mortgage insurance premium (MIP), which costs 0.45% to 1.05% of the loan amount — depending on your down payment and repayment term — and is divided by 12 and added to your monthly payment. You’ll pay it regardless of your down payment amount.
- Occupancy. You’ll need to live in any home you buy with an FHA loan for at least a year as your primary residence.
- FHA home appraisals. The FHA requires a home appraisal for purchase loans. FHA appraisal guidelines set stricter safety and livability standards than conventional loans.
Buying a multifamily home with an FHA loan
One unique feature of FHA loans is the ability to buy a multifamily home with just a 3.5% down payment and qualify with rents on the other units (In contrast, conventional guidelines typically require a 15% down payment.) The only catch? You’ll have to live in one of the units for at least a year.
FHA loan limits are higher for two- to four-unit homes, giving you more borrowing power for the higher sales prices.
FHA lenders in Nebraska
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Guaranteed Rate | 9/10 | 620 |
| Better Mortgage | 9.5/10 | 620 |
| Rocket Mortgage | 9.5/10 | 580 |
| Fairway Independent Mortgage | 8/10 | 600 |
| AmeriSave Mortgage | 8/10 | 600 |