Current Nebraska Mortgage and Refinance Rates

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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Current 30-year fixed mortgage rates are averaging: 7.52%

Current 15-year fixed mortgage rates are averaging: 6.83%

Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners on the previous day for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.

Compare NE mortgage rates today

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  Refinance rates in Nebraska

There are many home refinance options, and each comes with slightly different features and rates.

  • Rate-and-term refinances give you a way to reduce your monthly mortgage payment. Lowering your interest rate or lengthening your loan term will make your payments more affordable. In Nebraska today, refinance rates are slightly higher than purchase mortgage rates.
  • Cash-out refinances replace an existing home loan with a new one that both pays off your old loan and provides funds for a lump sum of cash. The cash is secured by your home equity. You’ll pay a higher interest rate when you take cash out, compared with a rate-and-term refinance.
  • Conventional refinances aren’t a part of a government loan program. They almost always come with higher rates than government-backed refinances.
  • FHA refinances are insured by the Federal Housing Administration (FHA), and are designed to put homeownership in reach for those who can’t qualify for conventional loans. Nebraska’s FHA refinance rates run about 0.35 percentage points lower than conventional refinance rates.
  • VA refinances are backed by the U.S. Department of Veterans Affairs (VA) and can help qualified military borrowers get into a home with no money down. Their rates are consistently low, and right now in Nebraska a VA refinance rate is likely to be about 0.84 percentage points lower than a conventional refinance.

Current 30-year fixed mortgage refinance rates are averaging: 7.76%

The current average rate for a 15-year fixed mortgage refinance is: 6.99%

Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners on the previous day for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.
See whether refinancing makes sense for you using our mortgage refinance calculator.

What is the current mortgage rates forecast for 2024?

The current mortgage rates forecast doesn’t expect rates to skyrocket or plummet this year. Instead, they’re likely to spend the majority of their time between 6% and 7%, with the potential to dip a little bit lower by the end of the year.

How do I get the best mortgage rate for my Nebraska home loan?

There are many factors determining mortgage rates, and only some of them are within your control. Here are a few steps you can take right now to get the best mortgage rate:

  1. Boost your credit. Your credit score is one of the largest factors influencing the mortgage rates lenders offer you. A higher score usually means lower rate offers.
  2. Lower your debt-to-income (DTI) ratio. Your DTI ratio is a number that compares your monthly debt payments to your monthly income. Lenders view borrowers with lower DTIs as less of a risk. You can knock yours down by increasing your income, paying off debts or getting a cosigner.
  3. Buy a single-family, site-built home. The lowest interest rates go to borrowers who aren’t buying a manufactured home, multifamily property, vacation home or investment property.
  4. Pay for mortgage points. Rates are relatively high right now, but mortgage points allow you to reduce your quoted interest rate in exchange for a fee. One point typically reduces your rate by 0.25 percentage points, at a cost of 1% of your mortgage amount. It can help to think of the fee as an upfront interest payment, and the savings it creates last for the life of your loan.
  5. Compare offers from multiple lenders. Borrowers who gather loan estimates from three to five lenders can save thousands in interest charges over the life of their loan, according to LendingTree data.

Read more about our picks for the best mortgage lenders.

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When should I lock in my mortgage rate?

Once you’ve found a home you want to buy and applied for a mortgage, it’s time to request a mortgage rate lock. The lock will preserve the interest rate you were quoted in your loan estimate, so it won’t increase before you make it to the closing table.

2024 Nebraska home loan programs

NIFA First Home

This program from the Nebraska Investment Finance Authority (NIFA) gives first-time homebuyers the combined buying power of two loans: a purchase loan and a 10-year second mortgage to help cover closing costs or a down payment. The second loan provides up to 5% of the first mortgage amount and comes with a low 1% interest rate. It’s a great opportunity if you’re interested in house hacking, too — you can buy a single-family home or a two- to four-unit property.

The program is designed for first-time homebuyers, but it’s also open to veterans, people buying in targeted areas and those who have lost a home to specific hardships, including divorce and natural disasters.

Who qualifies?

Borrowers must:

Have a minimum 640 credit score with a maximum 45% debt-to-income (DTI) ratio, or a minimum 660 credit score with a maximum 50% DTI ratio. Borrowers with no credit may still qualify.
Earn no more than the program’s household income limits, which vary by location and household size. If you buy a two- to four-unit property, future rental income will be included in your income calculation.
Purchase a home within the program’s price limits, which vary by the number of units at the property and its location.
Occupy the property within 60 days of closing.
Complete a homebuyer education course.
Contribute at least $1,000 of their own funds.

Who qualifies as a first-time homebuyer?

People who have never owned a home
People who haven’t owned real estate in the last three years

However, exceptions to the first-time homebuyer requirement will be made for:

Those purchasing in targeted areas in the counties of Adams, Douglas, Jefferson, Lancaster or Scotts Bluff
Veterans who don’t have a dishonorable discharge
People who lost a home in a divorce and didn’t receive any money from the house’s sale
People who lost a home in a natural disaster
People who lost a home because of job relocation

NIFA Welcome Home

Repeat buyers who want to purchase in Nebraska can use this program to buy a home with a 30-year conventional, FHA, VA or USDA loan. It’s similar to the First Home program we covered above, but comes with higher income and purchase price limits. Borrowers can combine their purchase loan with a second mortgage loan to help boost down payment funds or cover closing costs. The second mortgage comes with a 10-year term and 1% interest rate.

Who qualifies?

Borrowers must:

Have a minimum 640 credit score with a maximum 45% debt-to-income (DTI) ratio, or minimum 660 score with a maximum 50% DTI ratio. Borrowers with no credit may still qualify.
Earn no more than the program’s household income limit, which is $160,000.
Purchase a home within the program’s price limits, which are $470,000 for a one-unit home and $601,000 for two units.
Occupy the property within 60 days of closing.
Complete a homebuyer education course.

NIFA Military Home

NIFA has a special version of the First Home program for military service members, which offers low-interest-rate VA, FHA or USDA loans. Both active military and qualified veterans and spouses can participate, but borrowers on active duty must meet first-time homebuyer requirements; veterans and military spouses don’t have to.

Who qualifies?

Active-duty service members must:

Have never owned a home or not owned real estate in the last three years

Veterans and their spouses must:

Not have a dishonorable discharge listed on your DD214 form

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Learn about different types of NE mortgage loans

Nebraska conventional loans. Borrowers with good credit scores often choose conventional loans, but their minimum requirements can be tough to reach for those with imperfections in their credit history. You must have a 620 credit score or higher to qualify.

Nebraska FHA loans. FHA loan requirements are much more forgiving than conventional loan requirements, especially when it comes to credit scores. You may qualify with a credit score as low as 500 if you make a 10% down payment. Those with at least a 580 score can put down as little as 3.5%.

Nebraska VA loans. VA loan requirements give military borrowers a great home loan option and come with very competitive rates. Borrowers with full VA entitlement can purchase or refinance without making a down payment or paying for mortgage insurance.

Nebraska streamline refinances are only for those who want to refinance an FHA loan or VA loan to another loan of the same type. FHA streamline refinance loans and VA interest rate reduction refinance loans (IRRRLs) allow you to do this with less paperwork and less hassle than other refinance types.

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