Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Nebraska

Nebraska Mortgage Calculator

Set to Nebraska’s own property tax rate of 1.42% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($52,600)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$1,729
Monthly payment
$1,341
Principal & interest
$311
Taxes
$77
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $210,400 Interest paid $272,346
20262056
Total of 360 payments$622,426
Principal$210,400
Interest$272,346
Taxes$112,050
Insurance$27,630
HOA fees$0
P&I 77.6% Taxes 18.0% Insurance 4.4%
15- vs 30-year term at 6.58%
15-year
$1,842/mo P&I
$121,174 total interest
30-year · current
$1,341/mo P&I
$272,346 total interest
The 15-year term saves $151,172 in interest. Which term is right for you?

What these numbers come from

Median home value
$263,100
Median tax bill
$3,739
Effective tax rate
1.42%
Rank of 51
6th highest

Nebraska taxes property at about 1.42% of value against 0.89% nationally. On a $263,000 home that is $116 a month more than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Nebraska home prices

20% down, 30-year fixed at 6.58%, with Nebraska property tax of 1.42% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$158,000 $126,400 $806 $187 $1,039
$210,000 $168,000 $1,071 $249 $1,380
$263,000 median $210,400 $1,341 $311 $1,729
$329,000 $263,200 $1,677 $389 $2,163
$395,000 $316,000 $2,014 $467 $2,597

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Nebraska taxes alone add $311 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $187 $1,154 $388 $210,213
Sep $188 $1,153 $388 $210,024
Oct $189 $1,152 $388 $209,835
Nov $190 $1,151 $388 $209,645
Dec $191 $1,150 $388 $209,453
2026 $947 $5,758 $1,940 $209,453
Jan $192 $1,149 $388 $209,261
Feb $194 $1,147 $388 $209,067
Mar $195 $1,146 $388 $208,873
Apr $196 $1,145 $388 $208,677
May $197 $1,144 $388 $208,480
Jun $198 $1,143 $388 $208,283

Refinancing in Nebraska

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Nebraska home loans in detail

Nebraska Mortgage Overview

Nebraska has a median population of 1.9 million people and has plenty of opportunities for employment in major industries. It's a great place to live if you love friendly people, beautiful scenery, and winter weather.

If you're thinking about buying a home in Nebraska, here are your loan options:

Nebraska conventional loans

Traditional financing is conventional financing. You don't need 20 percent down. First-time homebuyers need 3 percent and subsequent buyers 5 percent for this financing. You need good credit - usually around 660 and low debt ratios around 36 percent. If you put down less than 20 percent, you'll pay PMI but only until you have 20 percent equity in the home.

Nebraska FHA loans

FHA loans are a conventional loan alternative. They allow lower credit scores of 580 with a 3.5 percent down payment or 500 - 579 with a 10 percent down payment. FHA loans have flexible underwriting guidelines, and in exchange charge mortgage insurance for the life of the loan. Borrowers may use gift funds or down payment assistance to cover the down payment.

Nebraska VA loans

Veterans of the military or National Guard may be eligible for 100 percent financing from the VA. To qualify, you need a 620 credit score and average debt ratio. You must prove you have enough funds for the daily cost of living and have anything but a dishonorable discharge. VA loans don't charge mortgage insurance but there is an upfront funding fee.

Nebraska USDA loans

If living in rural parts of Nebraska is on your bucket list, use USDA financing to make it happen. The program is for low to moderate-income families with at least a 640 credit score. You don't need a down payment and have flexible guidelines along with low mortgage insurance rates for the life of the loan.

First-Time Homebuyer Programs in Nebraska

First-time Homebuyer Loan

The Nebraska Investment Finance Authority provides low interest loans for eligible first-time buyers. You must make less than the program income limits and have a 640 or higher credit score. The NIFA has other underwriting guidelines including the need to take a homebuyer education course before you get financing.

Homebuyer Assistance Program

If you have at least $1,000 to invest in a home the Homebuyer Assistance Program may help you buy a home sooner. It's a first and second loan program. The first loan has a below-market interest rate and the second covers the closing costs and down payment. The second loan is a maximum of 5% of the purchase price or $10,000, whichever is less. The second loan has a 1% interest rate and a 10-year term.

First Home Grant Program

If your household income is 50% or less of the area's average income, the First Home Grant Program provides a first mortgage with below-market rates and a grant for the down payment and closing costs. The grant is a maximum of $5,000 and isn't repayable.

Nebraska mortgage FAQ

How much is property tax on a home in Nebraska?
Nebraska homeowners pay an effective property tax rate of about 1.42 percent of home value — the 6th highest of the 50 states and DC. On the state's median home value of $263,100 that works out to roughly $3,735 a year, or $311 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Nebraska home?
At $263,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,341 a month. Adding Nebraska property tax of roughly $311 a month and an estimated $77 of homeowner insurance brings the full payment to around $1,729.
What mortgage options are available in Nebraska?
Nebraska buyers can choose conventional loans with 3 percent down for first-time buyers and 5 percent for repeat buyers, typically requiring a 660 credit score. FHA loans accept scores of 580 with 3.5 percent down, or 500 to 579 with 10 percent down. VA loans offer 100 percent financing for eligible veterans, and USDA loans finance rural homes with no down payment.
What first-time homebuyer programs does Nebraska offer?
The Nebraska Investment Finance Authority offers low interest first mortgages to eligible first-time buyers with a 640 or higher credit score who complete homebuyer education. The Homebuyer Assistance Program pairs a below-market first loan with a second loan covering the down payment and closing costs, and the First Home Grant Program adds a non-repayable grant for lower-income households.
What credit score do you need to buy a home in Nebraska?
It depends on the loan. Conventional lenders usually want around 660 with debt ratios near 36 percent. FHA loans accept 580 with 3.5 percent down, or as low as 500 with 10 percent down. VA loans typically require 620, while USDA loans and NIFA first-time buyer programs look for 640 or higher.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.