Nebraska FHA Loans – Nebraska FHA Lenders 2024

nebraska fha lenders

Nebraska home buyers who need a small down payment or have poor credit scores may be able to purchase a home with an Nebraska FHA loan. There are many FHA lenders in Nebraska who offer FHA loans, but not all of them participate in all of the FHA loan options available.

We will take you through the Nebraska FHA loan requirements, detail what is needed to qualify, then help you to get pre-qualified. If you already know that an FHA loan is right for you, then click to connect with an Nebraska FHA lender whether you live in Omaha, Lincoln, Bellevue, Grand Island, or anywhere else.

Nebraska FHA Down Payment Requirements

The down payment requirements for an FHA loan is the same in every state. The minimum requirement for an FHA loan is 3.5% of the purchase price. However, if your credit score is below 580, then the down payment requirement will be 10%.

If you do not have the down payment needed, you can also use gift funds from a relative.

Nebraska FHA Down Payment Assistance

There are various down payment assistance programs in every state. Below is a list of just a few down payment assistance programs that may be available to you in Nebraska. Home buyers will need to contact, and arrange for these programs independently. Lenders will accept the funds from these programs for your down payment but they will not arrange for the down payment assistance.

HUD Home Buyer Assistance Programs in Nebraska

Nebraska FHA Loan Requirements for 2024

These are the basic FHA loan requirements for this year. All of these must be met to be approved for an FHA loan. If you are not positive on whether you meet these standards or have questions, an FHA lender can help.

  • Down payment of 3.5% or 10% if your credit score is below 580
  • 2-year employment history with some exceptions allowed
  • Fully document your income for the past two years
  • Minimum FICO score requirement of 500 – down payment will vary
  • Mortgage Insurance Premium (MIP) is required for every FHA loan
  • Maximum debt to income ratio of 43% with exceptions up to 56%
  • The home must be your primary residence
  • No bankruptcies or foreclosures in the past two years

Nebraska FHA Loan Benefits

These are the benefits of an FHA loan versus a conventional loan:

  • Lower credit scores permitted
  • Lower down payment requirement
  • FHA interest rates are lower than conventional rates
  • Gift funds allowed
  • Seller closing cost contributions are allowed
  • FHA loans are assumable
  • Co-signers allowed
  • Higher debt to income ratios permitted

Top Nebraska FHA lenders

These lenders are just a few options for you to consider. Please note that each lender is different and it is possible that none of these options are best for you depending upon your scenario.

  1. Carrington Mortgage Services
  2. Bank of England Nebraska
  3. Flagstar Bank
  4. Quicken Loans
  5. Pinnacle Bank
  6. Assurance Financial

Let us help you to find the best FHA lender in your area by completing this FHA loan scenario form with some basic loan scenario information. No credit report will be pulled and we can connect you with the best option.

Nebraska FHA Loan Limits

Every county in the United States has specific maximum loan limits that are set for single family homes, as well as 2-4 unit properties. The limits are set based upon the average home sales value in that county. The base FHA loan limit for single family residences in Nebraska for most counties is $498,257. Use this FHA loan limit lookup tool to see what the FHA loan limits are in your county.

County Name Single Family 2 Units 3 Units 4 Units
ADAMS $498,257 $637,950 $771,125 $958,350
ANTELOPE $498,257 $637,950 $771,125 $958,350
ARTHUR $498,257 $637,950 $771,125 $958,350
BANNER $498,257 $637,950 $771,125 $958,350
BLAINE $498,257 $637,950 $771,125 $958,350
BOONE $498,257 $637,950 $771,125 $958,350
BOX BUTTE $498,257 $637,950 $771,125 $958,350
BOYD $498,257 $637,950 $771,125 $958,350
BROWN $498,257 $637,950 $771,125 $958,350
BUFFALO $498,257 $637,950 $771,125 $958,350
BURT $498,257 $637,950 $771,125 $958,350
BUTLER $498,257 $637,950 $771,125 $958,350
CASS $498,257 $637,950 $771,125 $958,350
CEDAR $498,257 $637,950 $771,125 $958,350
CHASE $498,257 $637,950 $771,125 $958,350
CHERRY $498,257 $637,950 $771,125 $958,350
CHEYENNE $498,257 $637,950 $771,125 $958,350
CLAY $498,257 $637,950 $771,125 $958,350
COLFAX $498,257 $637,950 $771,125 $958,350
CUMING $498,257 $637,950 $771,125 $958,350
CUSTER $498,257 $637,950 $771,125 $958,350
DAKOTA $498,257 $637,950 $771,125 $958,350
DAWES $498,257 $637,950 $771,125 $958,350
DAWSON $603,750 $772,900 $934,250 $1,161,050
DEUEL $498,257 $637,950 $771,125 $958,350
DIXON $498,257 $637,950 $771,125 $958,350
DODGE $498,257 $637,950 $771,125 $958,350
DOUGLAS $498,257 $637,950 $771,125 $958,350
DUNDY $498,257 $637,950 $771,125 $958,350
FILLMORE $498,257 $637,950 $771,125 $958,350
FRANKLIN $498,257 $637,950 $771,125 $958,350
FRONTIER $498,257 $637,950 $771,125 $958,350
FURNAS $498,257 $637,950 $771,125 $958,350
GAGE $498,257 $637,950 $771,125 $958,350
GARDEN $498,257 $637,950 $771,125 $958,350
GARFIELD $498,257 $637,950 $771,125 $958,350
GOSPER $603,750 $772,900 $934,250 $1,161,050
GRANT $498,257 $637,950 $771,125 $958,350
GREELEY $498,257 $637,950 $771,125 $958,350
HALL $498,257 $637,950 $771,125 $958,350
HAMILTON $498,257 $637,950 $771,125 $958,350
HARLAN $498,257 $637,950 $771,125 $958,350
HAYES $498,257 $637,950 $771,125 $958,350
HITCHCOCK $498,257 $637,950 $771,125 $958,350
HOLT $498,257 $637,950 $771,125 $958,350
HOOKER $498,257 $637,950 $771,125 $958,350
HOWARD $498,257 $637,950 $771,125 $958,350
JEFFERSON $498,257 $637,950 $771,125 $958,350
JOHNSON $498,257 $637,950 $771,125 $958,350
KEARNEY $498,257 $637,950 $771,125 $958,350
KEITH $498,257 $637,950 $771,125 $958,350
KEYA PAHA $498,257 $637,950 $771,125 $958,350
KIMBALL $498,257 $637,950 $771,125 $958,350
KNOX $498,257 $637,950 $771,125 $958,350
LANCASTER $498,257 $637,950 $771,125 $958,350
LINCOLN $498,257 $637,950 $771,125 $958,350
LOGAN $498,257 $637,950 $771,125 $958,350
LOUP $498,257 $637,950 $771,125 $958,350
MADISON $498,257 $637,950 $771,125 $958,350
MCPHERSON $498,257 $637,950 $771,125 $958,350
MERRICK $498,257 $637,950 $771,125 $958,350
MORRILL $498,257 $637,950 $771,125 $958,350
NANCE $498,257 $637,950 $771,125 $958,350
NEMAHA $498,257 $637,950 $771,125 $958,350
NUCKOLLS $498,257 $637,950 $771,125 $958,350
OTOE $498,257 $637,950 $771,125 $958,350
PAWNEE $498,257 $637,950 $771,125 $958,350
PERKINS $498,257 $637,950 $771,125 $958,350
PHELPS $498,257 $637,950 $771,125 $958,350
PIERCE $498,257 $637,950 $771,125 $958,350
PLATTE $498,257 $637,950 $771,125 $958,350
POLK $498,257 $637,950 $771,125 $958,350
RED WILLOW $498,257 $637,950 $771,125 $958,350
RICHARDSON $498,257 $637,950 $771,125 $958,350
ROCK $498,257 $637,950 $771,125 $958,350
SALINE $498,257 $637,950 $771,125 $958,350
SARPY $498,257 $637,950 $771,125 $958,350
SAUNDERS $498,257 $637,950 $771,125 $958,350
SCOTTS BLUFF $498,257 $637,950 $771,125 $958,350
SEWARD $498,257 $637,950 $771,125 $958,350
SHERIDAN $498,257 $637,950 $771,125 $958,350
SHERMAN $498,257 $637,950 $771,125 $958,350
SIOUX $498,257 $637,950 $771,125 $958,350
STANTON $498,257 $637,950 $771,125 $958,350
THAYER $498,257 $637,950 $771,125 $958,350
THOMAS $498,257 $637,950 $771,125 $958,350
THURSTON $498,257 $637,950 $771,125 $958,350
VALLEY $498,257 $637,950 $771,125 $958,350
WASHINGTON $498,257 $637,950 $771,125 $958,350
WAYNE $498,257 $637,950 $771,125 $958,350
WEBSTER $498,257 $637,950 $771,125 $958,350
WHEELER $498,257 $637,950 $771,125 $958,350
YORK $498,257 $637,950 $771,125 $958,350

FHA 203k Loans in Nebraska

FHA 203k loans are a great program which will allow you to borrow the money needed to purchase the home plus additional funds needed to rehabilitate or remodel the home. This program is also available in your state and we work with lenders that help with your FHA 203k loan.

If you would like to fully understand how this program works, we suggest reading our article on FHA 203k loans.

FHA Streamline Refinance in Nebraska

The FHA streamline refinance program is available to existing homeowners who would like to refinance for a lower rate while eliminating some of the refinance costs such as an appraisal. You may also get a discount on the mortgage insurance premium which is another advantage.

For more information, please read our article on the FHA streamline refinance.

Nebraska FHA Loan Pre-Approval Process

If you are looking for an FHA loan, there is an optimal process you should follow to get pre-approved.

  1. The first step is to make sure you have the minimum down payment needed to qualify
  2. check your credit and try to cleanup anything that is pulling down your scores
  3. Get a copy of your tax returns for the past two years
  4. Get copies of your pay stubs for the past month
  5. Get copies of your last two months’ bank statements
  6. Speak to an FHA lender about your loan scenario

Speak to a lender early in the process because they can identify opportunities to help with your FHA approval. This should be done months before you start looking for a home. Read more about how to get pre-approved for an FHA loan.

What to Look for in an FHA Lender

We take a few things into consideration when looking at which Nebraska FHA lenders we work with. Some of these also may be, or should be very important to you as you continue shopping for an FHA loan.

A good FHA lender will:

  • Allow for credit scores as low as 500
  • Provide FHA 203k loans
  • Offer competitive rates and fees
  • Have a great processing and underwriting team
  • Work closely with you throughout the loan process
  • Communicate well and will provide you with updates along the way
FHA Calculator
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Credit Score Above 580
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Frequently Asked FHA Questions

Can I get an FHA loan with a bankruptcy?
In general, you will need to wait two years before applying for an FHA loan after a bankruptcy. However, there are some exceptions which may allow you to apply sooner. Read our article on the bankruptcy waiting period.

Are all FHA lenders the same?
Not all lenders who offer FHA loans are the same. They all do not offer all of the FHA programs and their rates and fees may also vary. Most importantly, the individuals who help to process and underwrite your loan will have a huge impact on your FHA loan experience.

Can I use gift funds for an FHA loan?
FHA loans do allow for gift funds to cover your down payment as well as your closing costs. The gift funds must come from a relative or a close friend as approved by the lender. You will need to provide the lender with a gift letter that is signed by the donor.

Do I need an appraisal for an FHA loan?
The FHA does require an appraisal and inspection before your loan can be approved. The FHA inspection has clear guidelines on what needs to be repaired before your loan can close. They want to make sure home buyers are moving into a home that is safe and operational.

Can I get an FHA loan for an investment property?
FHA loans are for primary residences only and if your goal is to purchase an investment property, you cannot use FHA insured financing for that purchase. However, if you are currently living in a home that is financed with an FHA loan, you can move to a new home and keep the current home as an investment.

We have FHA lenders who can help with your FHA loan in these states:  Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming