Updated: December 13, 2024
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Today's 30-year mortgage rate in Nebraska averages 6.59%, slightly below the national average of 6.83%. Homebuyers can tap into beneficial programs such as the First Home Program and the Military Home Program to help reduce mortgage expenses.
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 the content are annual percentage rates (APRs).
This data was last updated in December 2024.
The current mortgage rate in Nebraska for a 30-year fixed-rate mortgage is 6.59% as of December 2024 — down from 6.67% the previous month. On a $250,000 loan with a 20% down payment, that increase could cost you around $3,346 more over the life of the loan, excluding other costs like property taxes and HOA fees.
Even small changes in mortgage rates can significantly impact your finances. Understanding the current mortgage rate in Nebraska can help you budget effectively for your home purchase.
Today's mortgage interest rates in Nebraska offer valuable insight for both first-time homebuyers and homeowners to refinance:
Knowing Nebraska's current mortgage rates helps first-time homebuyers understand lender offers and assess rate competitiveness.
Current homeowners can look at Nebraska's mortgage rates to decide if they should refinance their mortgage for a better rate.
Purchase and refinance rates for mortgages aren't the same. In Nebraska, the current mortgage rate for a new 30-year fixed-rate loan is around 6.59%, while the refinance rate for the same loan type is a bit higher at about 6.69%.
A 30-year fixed-rate mortgage generally has a higher interest rate than a 15-year fixed. A longer term increases lenders' risk due to potential market changes and the possibility of missed payments.
When exploring mortgage types in Nebraska, you'll see that rates vary by loan type. Use a mortgage calculator to estimate your monthly payments and understand how different rates affect your budget.
| 6.11% | 6.36% |
The interest rate represents the annual borrowing cost for a mortgage. In Nebraska, the average mortgage interest rate for a 30-year fixed mortgage is 6.52%.
The APR (annual percentage rate) reflects the interest rate, mortgage points and other fees. Nebraska's average APR for a 30-year fixed mortgage is 6.59%, showing the total annual cost of the loan.
In Nebraska, if your credit score is 740 or higher and you make a 5% to 20% down payment, the average APR for a 30-year fixed mortgage is 7.06%. A credit score below 680 raises the rate to an average of 8.21%.
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.
| 10-year Fixed | 6.69% |
| 15-year Fixed | 6.16% |
| 20-year Fixed | 7.55% |
| 30-year Fixed | 7.00% |
| 5-year ARM | 7.92% |
| 7-year ARM | 8.25% |
In December 2024, VA loans have the lowest average APR for 30-year fixed-rate mortgages in Nebraska at just 6.23%. Knowing your options can influence your decision and budgeting process, empowering you to make a smarter choice for your financial future. Below, you'll find a straightforward breakdown of mortgage loan types available in Nebraska:
Mortgage Type | Definition | Impact on Rates | 30-Year Rates in Nebraska |
|---|---|---|---|
Conventional Loans | Conventional loans in Nebraska are not insured by government agencies. They are a popular residential mortgage option. | Your credit score and down payment size can significantly influence your conventional loan rates. | 6.59% |
FHA Loans | FHA loans in Nebraska are backed by the Federal Housing Administration and offer easier qualification criteria for borrowers. | FHA loans often have lower credit requirements, leading to slightly higher rates but easier access. | 8.00% |
VA Loans | VA loans in Nebraska are guaranteed by the Department of Veterans Affairs and are available to service members and veterans. | VA loans typically offer competitive rates due to government backing, making them affordable. | 6.23% |
USDA Loans | USDA loans in Nebraska are supported by the United States Department of Agriculture and are aimed at rural home buyers with 100% financing. | USDA loans can provide below-average rates for those who meet location and income eligibility criteria. | currently unavailable |
Jumbo Loans | Jumbo loans in Nebraska exceed conventional loan limits and are designed for high-value property purchases. | Jumbo loans carry higher risk for lenders, often resulting in higher interest rates than smaller loan amounts. | 6.90% |
Mortgage rates come in two types: fixed and adjustable.
As of December 2024, Nebraska's average APR for a 30-year fixed-rate loan is 6.59% and 7.27% for a seven-year ARM.
Lower, Bank of America and New American are reliable mortgage options in Nebraska due to their state presence, Better Business Bureau (BBB) accreditation and homeowner assistance programs. This list is not exhaustive; other lenders may also meet your needs.
The mortgage rate you receive can vary by lender. Since lenders offer different options and terms, comparing several offers will help you find the best rate.
Lower operates exclusively online and is a top HELOC lender in most states. Conventional loans typically require a credit score of at least 620, while FHA loans can be obtained with a score starting at 580.
Customer service is available by phone and text Monday through Friday from 9 a.m. to 5 p.m. ET. Missouri homeowners may benefit from Lower's Buy Before You Sell program, which helps transition between homes.
Pros
Cons
New American offers a range of loans, including conventional and FHA options. You can qualify for an FHA loan with a minimum credit score of 580 or a jumbo loan with at least 680. Down payment options start at 3% for conventional loans and range from 3.5% to 10% for FHA loans. It provides phone and email support with flexible hours, including Saturdays, and offers loan assistance solutions.
Pros
Cons
Bank of America offers various mortgage options, including fixed-rate and adjustable-rate mortgages, jumbo loans, FHA loans, VA loans and doctor loans. It features a 3% downpayment for the Affordable Loan Solution and no downpayment for VA loans.
Bank of America provides online, phone and in-person support Monday through Friday, 8 a.m. to 10 p.m. ET, and Saturdays, 8 a.m. to 6:30 p.m. ET. Its assistance programs, such as America’s Home Grant® and Down Payment Grant, make homeownership more affordable.
Pros
Cons
Owning a home has hidden costs in addition to regular payments. The Nebraska Investment Finance Authority's mortgage programs can support your home-buying process.
Program | Description |
|---|---|
First Home Program | First Home Program is great for those who haven't owned a home in over three years or first-time buyers and borrowers who don't need down payment assistance. If you’re buying in Adams or Lancaster County, you may qualify for the First Home Targeted Program, which offers higher income and purchase price limits. |
First Home: Assistance Program | First Home: Assistance Program helps borrowers who have trouble covering the down payment and closing costs with a minimum investment of just $1,000. It combines two loans: the first, with a higher rate, supports the down payment and closing costs, while the second loan, up to 5% of the home's value, has a low 1% interest rate. |
Military Home Program | Military Home Program provides alternatives to VA loans, such as FHA or USDA loans, offering tailored solutions for veterans and military members. Veterans and their spouses may access various options, while active service members must be first-time homebuyers. |
Welcome Home | Welcome Home is a great option for first-time and experienced homebuyers. It has income limits of $160,000 and home price limits of $470,000. First-time buyers must take a homebuyer education course. The program also offers help with down payments and closing costs. |
We’ve answered your pressing questions about today’s mortgage rates in Nebraska. Understanding these rates can help you make informed decisions during your homebuying process.
Current average APRs in Nebraska for December 2024 vary depending on the loan type. For example, the average APR for a 30-year fixed conforming loan is 6.59%, whereas a seven-year ARM is 7.27%. These rates are influenced by multiple factors, such as the borrower's credit history and the loan amount.
Mortgage rates in Nebraska can be higher or lower than national averages. As of December 2024, Nebraska's average APR for a 30-year fixed-rate mortgage is 6.59%, lower than the national average of 6.83%. A five-year adjustable-rate mortgage in the state has an APR of 7.40%, also lower than the national average of 7.79%.
Your credit score significantly affects the mortgage rates available to you in Nebraska. Higher credit scores can lead to low mortgage rates, while lower scores may result in higher interest rates due to the increased risk perceived by lenders.
Yes, there are several mortgage programs available in Nebraska to assist homebuyers. Some examples include the First Home Program, First Home: Assistance Program and the Military Home Program, which provide various benefits to eligible individuals.
To secure the best possible mortgage rate in Nebraska, consider improving your credit score, shopping around with multiple lenders and making a larger down payment. These strategies can significantly influence the interest rate you're offered.
As of December 2024, the average refinance rates in Nebraska are 6.24% for a 15-year fixed loan and 6.69% for a 30-year fixed loan. Consider using up-to-date online resources to view today's refinance rates in Nebraska.
You can calculate your mortgage payments using a mortgage calculator for Nebraska. These tools help estimate monthly payments, including principal, interest, taxes and insurance, based on the mortgage rate, loan term and down payment.
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.
