Home Equity Loan Rates in Nebraska (January 2025)

The equity in your home that you can access and borrow is known as tappable equity. A home equity loan (HEL) can help you maximize your home equity, whether you're looking to fund home improvement projects or consolidate debt.

Nebraska's home equity loan rates are higher than national averages — 8.1% APR for a 10-year term (7.7% nationally) and 8.4% APR for a 15-year term (7.9% nationally). We've compiled detailed insights on current home equity loan rates in Nebraska, including comparisons with home equity line of credit (HELOC) rates, city-specific rates, top lenders, and tips on securing the best rates for using your home's equity.

The current average APR for a 15-year home equity loan in Nebraska is 8.4%, but several factors might affect what lenders offer you. For instance, a higher credit score typically results in a lower APR, while a larger loan amount might lead to a higher rate. Additionally, repayment terms play a significant role in determining your rate. Explore the table to compare the current home equity loan rates in Nebraska across different loan terms.

Interest rates for a home equity loan change daily. Staying informed about these changes can help you pay less in interest over the life of the loan, saving you money. If you have high-interest debts, a home equity loan at a lower rate can help you consolidate those debts and reduce your overall interest payments.

For example, a 15-year home equity loan with an 8.4% APR results in a monthly payment of $489 and a total interest of $38,100. In contrast, a 10-year loan with an 8.1% APR has a monthly payment of $609 and a total interest of $23,114.

The rate you qualify for depends on your loan-to-value ratio, which measures how much you owe on your mortgage compared to your home's appraised value. To calculate your LTV ratio, divide your current mortgage balance by your home's appraised value and multiply by 100. For instance, if your home is valued at $300,000 and your mortgage balance is $240,000, your LTV ratio is 80%.

A higher LTV ratio presents a greater risk to lenders, leading to higher rates. In Nebraska, the average APR for a 15-year equity loan with an 80% LTV ratio is 8.2%, while it's 8.7% for a 90% LTV ratio. Check the table below to see what rates you might qualify for based on your LTV ratio.

Average APRs also vary between cities in Nebraska. Cities with higher living costs may see slightly higher rates, as lenders face increased operational expenses. Differences in property taxes or local fees can also influence rates, affecting overall borrowing costs.

In Nebraska, Tecumseh has an average APR of 4.5%, while Talmage has an average APR of 11.8%. Below is a table showing the average home equity loan rates across Nebraska cities for different terms.

Home equity loan rates in Nebraska vary widely among lenders, influenced by each lender's unique policies and market strategies. For instance, State Bank of Table Rock offers the lowest average APR at 4.5%, while Riverstone Bank has the highest at 11.8%.

Comparing rates and terms from different lenders is essential for securing the lowest home equity loan rates. Use the interactive table below to explore lenders offering the best rates in your city.

Getting the best possible home equity interest rates can significantly enhance your borrowing experience. Imagine securing a low rate that reduces your monthly payments, allowing you to allocate more funds toward other financial goals. To achieve the best home equity loan rates in Nebraska, consider these strategies:

MoneyGeek addresses common questions about home equity loan rates, offering clear and reliable information for Nebraska homeowners.