There are more options when choosing places to live in Nebraska than Lincoln and Omaha, just like there are more home financing options than the standard conventional home loan.
An FHA loan in Nebraska is one mortgage option residents of the Cornhusker State find appealing for its low money down options and credit score requirements lower than that of typical conventional home loans. Continue reading to learn more about FHA loans and determine if it’s right for you.
Nebraska has an unemployment rate, crime rate and overall cost of living rate well below the national average, which makes it a great place to purchase a home! The FHA loan program has been a historically reliable option for homebuyers. As a matter of fact, the total value of FHA loans in Nebraska was $42 million as of April 2019, making it a popular choice among residents.
Maximum FHA loan limits are adjusted annually and typically depend on which county you are buying a home in to accommodate those who reside in areas with higher real estate prices. The baseline limit is $472,030, but use the table below to see the loan limit in your particular county.
|County||FHA Loan Limit|
|All other areas||$472,030|
You may be eligible for an FHA loan, if you:
Mortgage Insurance Premium Requirements
Buyers must be able to provide the following information and documents as requested by lenders:
Note: Facts and figures sourced from the latest statistics available at the time of this writing including data from the United States Department of Labor, United States Census Bureau and the United States Department of Housing and Urban Development.