Nebraska Mortgage Rates
January 20, 2017 08:56 AM Eastern
Nebraska Mortgage Rates and Home Loan Programs
The "Cornhusker state" is home to nearly 1.7 million people who enjoy the stunning natural beauty of this Midwestern state. Nebraska is also home to some of the best known Fortune 500 firms, including Berkshire Hathaway, ConAgra Foods, Mutual of Omaha, Peter Kiewit Sons, and Union Pacific Railroad. Whether you're looking for the city bustle of the state's capitol, Lincoln, or you prefer a quieter, more rural life style, Nebraska has a lot to offer.
Whether you choose to use state funding assistance or conventional financing, you want to educate yourself on why your credit score and income level will determine how well you qualify for loans. Nebraska mortgage rates vary based on several factors, and often have a significant impact on the total monthly mortgage payment you're likely to incur when buying and financing a home.
If you're considering purchasing a home in Nebraska, you'll want to start by researching current NE mortgage rates and loan programs offered through Nebraska state lending partners and banks.
Current Nebraska Interest Rates for Conventional Mortgage Loans
Buyers with good credit and available down payments will find very low mortgage rates and a bevy of loan options from conventional lenders throughout the state of Nebraska.
Those with fewer available down payment funds—as little as 3.5 percent of the home's purchase price—can look into loans insured by The Federal Housing Administration (FHA). These loans are also offered through most conventional lenders and feature competitive mortgage interest rates. The loan limit for the state of Nebraska under this program is limited to $417,000.
Mortgage Rates Help from the NE Department of Economic Development
When you're looking for the best NE mortgage rates, the Nebraska Department of Economic Development can put you on the right track. It has several programs for first time home buyers and even a program offering grant money for down payment and closing costs that does not need to be repaid.
Nebraska Mortgage Rates and the NE Affordable Housing Trust Fund
The Nebraska Affordable Housing Trust Fund (NAHTF) offers funding through its non-profit community partners for people with low income to moderate income. The program allows for the rehabilitation of existing housing, construction of new single or multi-family units, or conversion of a commercial building into housing.
Special Rates Options for Financing Your Nebraska Home Mortgage
Nebraska State Government also offers two additional programs through its lending partners; the Community Development Block Grant and the New Neighborhoods Initiative. Both programs are designed to revitalize older neighborhoods and help all buyers get access to competitive mortgage rates.