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The Best Rates Among Nebraska Mortgage Lenders
If you're looking for the best mortgage rates in Nebraska, we've compiled reviews of the most competitive mortgage lenders in the state. The lowest rates in Nebraska were offered by direct and online lenders. Choosing a lender solely based on rates is not advisable unless you also have a complete picture of the company's communication style and the upfront costs you'll pay to close the mortgage. Evaluating these necessary components takes time—which is why we have assessed mortgage lenders based on how well the companies match up to borrower needs to find the best lenders in the state.
Best Mortgage Lender for First-Time Homebuyers: Quicken Loans
Despite Quicken Loans having the highest APR and monthly payment compared to the lenders we reviewed, it ranked as our top pick for first-time homebuyers as a result of its outstanding ratings and educational tools to help borrowers in the homebuying process.
First-Time Purchase Mortgages in Nebraska
|Lender||Rate||APR||Monthly Payment||Down Payment|
|Bank of America||4.38%||4.88%||$1,042||5.0%|
Estimates for a $200,000 mortgage with a minimum down payment and 740 credit score.
Quicken Loans offers a relatively low interest rate but a high APR and monthly payment compared to the other lenders on our list. However, rates will vary depending on your financial information and credit score. In order to help you find the best mortgage, the lender provides multiple resources including guides, an online chat feature and a call center.
According to J.D. Power, Quicken Loans is ranked as one of the top lenders in the country with high ratings in loan offerings, customer satisfaction, application process and the loan closing process. Quicken Loans is a purely online lender, but many people find working with the company to be easier and faster than working with a traditional mortgage lender.
Best Online Mortgage Lender: Guaranteed Rate
Guaranteed Rate is a great option for Nebraska homebuyers who prefer a convenient and affordable online loan experience. Based on Guaranteed Rate's borrower criteria, this lender is suited for borrowers with good financial history and a stable income.
Guaranteed Rate Mortgage Loans
|Loan Type||Rate||APR||Monthly P+I|
|30 Year Fixed||4.63%||4.73%||$823|
|15 Year Fixed||4.13%||4.30%||$1,194|
|30 Year VA Fixed||4.38%||4.77%||$799|
|5 Year ARM||4.50%||5.07%||$811|
Estimates for a $200,000 mortgage with a 20% down payment and 740 credit score. The APR and monthly costs for adjustable-rate mortgages (ARMs) can increase based on changes in the index rate.
Finding an online lender can be overwhelming, with many websites offering low rates but little information and questionable practices. We found Guaranteed Rate to be transparent with plenty of information on its website, in addition to knowledgeable loan officers who work to help you find the best loan for your circumstances.
The main drawback of Guaranteed Rate is its qualification requirements. The lender requires credit scores of at least 620 for conventional loans and can be restrictive based on income. If you are able to qualify, you'll enjoy the benefits of lower rates and closing costs. But if you are unable to qualify, we recommend applying to SoFi Mortgage, which is more lenient when it comes to limited credit history.
Best Lender for In-Person Service in Nebraska: U.S. Bank
If you prefer to handle your mortgage in person, U.S. Bank offers about 60 branches spread throughout Nebraska, but they're mostly concentrated in the big cities of Omaha and Lincoln.
Mortgage Products at U.S. Bank
|Loan Type||Rate||APR||Monthly Payment|
|30-year fixed - VA||4.50%||4.85%||$1,046|
Estimates for a $200,000 mortgage with a 20% down payment and 740 credit score.
U.S. Bank does not offer the lowest rates, but it is fairly competitive in terms of monthly payment. The main advantage of using this lender is that it offers many locations throughout the state, allowing easy access for those who would rather complete the mortgage process in person or have a local contact for any questions or issues that arise.
Customer service is a very important factor to consider when choosing a lender. Based on Consumer Financial Protection Bureau (CFPB) complaints and J.D. Power reviews, U.S. Bank is well-rated in customer satisfaction and has lower consumer complaints than most primary lenders such as Wells Fargo, Chase and Bank of America.
Best Lender for a VA Home Loan: Navy Federal
Navy Federal Credit Union is our top pick for VA home loans, as it offers borrowers low rates with impressive service and benefits. As a result of being a credit union, Navy Federal stands out because the company is able to offer competitive rates in addition to other benefits that other lenders may not provide.
Best VA Lenders in Nebraska
|Lender||Rate||APR||Monthly P+I||Estimated Points and Fees|
|Navy Federal Credit Union||3.75%||4.05%||$1,042||$11,081|
|Wells Fargo||4.38%||4.60%||$1,147||$8,811 (includes closing costs)|
Estimates for a fixed-rate 30-year VA mortgage of $225,000 with a 0% down payment and 2.15% to 3.30% VA funding fee and credit score of 740.
As a credit union, Navy Federal is able to offer relatively low rates with moderate fees for both home purchases and refinances. It is a great option whether you already bank with the lender or if you need to make an account, as long as you qualify for membership. Even for those without a membership, the MakingCents section of the Navy Federal website is dedicated to guiding you through the process of buying a home and finding the right mortgage.
Navy Federal Credit Union also provides special mortgage offers for qualified borrowers. For example, Navy Federal has pledged to either match lower rates from accredited lenders for your first mortgage or deposit $1,000 into your bank account after closing. Additionally, the lender will give you up to $5,050 cash back if you use its RealtyPlus program to find a real estate agent from its network.