Home Point Financial is pleased to announce that we now have Nebraska USDA financing. USDA Loans in Nebraska are intended to provide lower-income homeowners with 100% financing (with no down payment). USDA (United States Department of Agriculture) loans, once known as farm loans, are now available to Nebraska residents in almost every NE county outside of major metropolitan areas (Cherry, Custer, Clay, Polk, Red Willow, and many other counties)

USDA Loan Requirements and Guidelines (Nebraska)

There are a number of requirements to quality for Nebraska USDA Loans:

  1. Monthly Nebraska housing costs (mortgage principal and interest, property taxes and insurance) must meet a specified percentage of your gross monthly income (29% ratio).
  2. Credit background will be fairly considered. At least a 640 FICO credit score is required to obtain a USDA approval through most lenders in Nebraska.
  3. Nebraska borrower must have enough income to pay your housing costs plus all additional monthly debt (41% ratio with some flexibility).
  4. Income can be up to 115% of the median income for the area.
  5. Bankruptcy: Have been discharged from a Chapter 7 bankruptcy for three years or more (if applicable).
  6. Nebraska property must be considered rural which is generally defined as open country with fewer than 10,000 people. Learn more here: http://eligibility.sc.egov.usda.gov.

Nebraska families must be able to afford the mortgage payments, including taxes and insurance.

Nebraska USDA Mortgage Rates

NE USDA Loan rates vary by individual and are determined by a number of factors specific to the individual, Nebraska property being financed, etc. In general, NE USDA rates are better than average compared to other options for qualifying individuals.

Nebraska USDA Lender

Apply now or contact the Nebraska USDA Mortgage experts at Home Point Financial to learn more about USDA Loans in Nebraska, eligibility and more.