Nebraska USDA Loans

What are Nebraska USDA Loans?

USDA stands for United States Department of Agriculture. A USDA Mortgage provides a low-cost insured home mortgage loan that suits a variety of options. A USDA mortgage is likely the best home loan option if you want to purchase a home with no down payment. If you’re unsure about your credit rating, or have concerns about a down payment when you’re doing a home loan comparison, USDA Rural Mortgage Loans can give you piece of mind with zero-down, super low closing costs and low monthly mortgage insurance.

What kinds of rural development loans does USDA offer in Nebraska?

Currently, there are two kinds of USDA Home Loans available in Nebraska for single family households:

. USDA Guaranteed Rural Housing Loans
USDA Guaranteed Home Mortgage Loans are the most common type of USDA Loan in Nebraska and allow for higher income limits and 100% financing for home purchases. USDA Guaranteed Loan applicants may have an income of up to 115% of the median household income for the area. Area income limits for this program can be viewed here. All USDA Guaranteed Loans carry 30 year terms and are set at a fixed rate.

. USDA Direct Rural Housing Loans
USDA Direct Housing Loans are less common than USDA Guaranteed Loans and are only available for low and very low income households to obtain homeownership, as defined by the USDA. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI. Click here to see area income limits for this program.

What factors determine if I am eligible for a USDA Loan in Nebraska?

To be eligible for A USDA Rural Loan in Nebraska, your monthly housing costs (mortgage principal and interest, property taxes, and insurance) must meet a specified percentage of your gross monthly income (29% ratio). Your credit background will be fairly considered. A 620 FICO credit score is required to obtain a USDA Rural Housing Loan approval through most lenders. You must also have enough income to pay your housing costs plus all additional monthly debt (41% ratio). These ratios can be exceeded somewhat with compensating factors. Applicants for loans may have an income of up to 115% of the median income for the area. Maximum USDA Guaranteed Loan income limits for your area can be found at here. Maximum USDA Direct Loan income limits for your area can be found at here. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.

What is the maximum amount that I can borrow?

The maximum amount for an USDA home loan is determined by:

Maximum Loan Amount: The is no set maximum loan amount allowed for USDA Rural Home Loans. Instead, your debt-to-income ratios will dictate how much home your can afford (29/41 ratios). Additionally, your total household monthly income must be within USDA allowed maximum income limits for your area. Maximum USDA Guaranteed Loan income limits for your area can be found at here.

Maximum financing: The maximum USDA Rural Development Loan amount is 102% of the appraised value of the home (100% plus the 2% USDA RD Loan guarantee fee).

How much money will I need for the down payment and closing costs?

USDA Rural Development Mortgage Loans require no down payment and they allow for the closing costs to be included in the loan amount (appraisal permitting).

What property types are allowed for USDA RD Mortgages?

While USDA Mortgage Guidelines do require that the property be Owner Occupied (OO), they do allow you to purchase condos, planned unit developments, manufactured homes, and single family residences.

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Nebraska USDA Loan Adjusted Maximum Income Limits by County
Updated 05/01/2012

County Name
1-4 Person Households
(Guaranteed Loans)
5-8 Person Households 
(Guaranteed Loans)
HASTINGS, NE (MICRO)
ADAMS
$73,600
$97,150
NON-METRO
ANTELOPE
$73,600
$97,150
NON-METRO
ARTHUR
$73,600
$97,150
SCOTTSBLUFF, NE (MICRO)
BANNER
$73,600
$97,150
NON-METRO
BLAINE
$73,600
$97,150
NON-METRO
BOONE
$73,600
$97,150
NON-METRO
BOX BUTTE
$73,600
$97,150
NON-METRO
BOYD
$73,600
$97,150
NON-METRO
BROWN
$73,600
$97,150
KEARNEY, NE (MICRO)
BUFFALO
$73,600
$97,150
NON-METRO
BURT
$73,600
$97,150
NON-METRO
BUTLER
$73,600
$97,150
OMAHA-COUNCIL BLUFFS, NE-IA (MSA)
CASS
$80,350
$106,050
NON-METRO
CEDAR
$73,600
$97,150
NON-METRO
CHASE
$73,600
$97,150
NON-METRO
CHERRY
$73,600
$97,150
NON-METRO
CHEYENNE
$73,600
$97,150
HASTINGS, NE (MICRO)
CLAY
$73,600
$97,150
NON-METRO
COLFAX
$73,600
$97,150
NON-METRO
CUMING
$73,600
$97,150
NON-METRO
CUSTER
$73,600
$97,150
SIOUX CITY, IA-NE-SD (MSA)
DAKOTA
$73,600
$97,150
NON-METRO
DAWES
$73,600
$97,150
LEXINGTON, NE (MICRO)
DAWSON
$73,600
$97,150
NON-METRO
DEUEL
$73,600
$97,150
SIOUX CITY, IA-NE-SD (MSA)
DIXON
$73,600
$97,150
FREMONT, NE (MICRO)
DODGE
$73,600
$97,150
OMAHA-COUNCIL BLUFFS, NE-IA (MSA)
DOUGLAS
$80,350
$106,050
NON-METRO
DUNDY
$73,600
$97,150
NON-METRO
FILLMORE
$73,600
$97,150
NON-METRO
FRANKLIN
$73,600
$97,150
NON-METRO
FRONTIER
$73,600
$97,150
NON-METRO
FURNAS
$73,600
$97,150
BEATRICE, NE (MICRO)
GAGE
$73,600
$97,150
NON-METRO
GARDEN
$73,600
$97,150
NON-METRO
GARFIELD
$73,600
$97,150
LEXINGTON, NE (MICRO)
GOSPER
$73,600
$97,150
NON-METRO
GRANT
$73,600
$97,150
NON-METRO
GREELEY
$73,600
$97,150
GRAND ISLAND, NE (MICRO)
HALL
$73,600
$97,150
NON-METRO
HAMILTON
$73,600
$97,150
NON-METRO
HARLAN
$73,600
$97,150
NON-METRO
HAYES
$73,600
$97,150
NON-METRO
HITCHCOCK
$73,600
$97,150
NON-METRO
HOLT
$73,600
$97,150
NON-METRO
HOOKER
$73,600
$97,150
GRAND ISLAND, NE (MICRO)
HOWARD
$73,600
$97,150
NON-METRO
JEFFERSON
$73,600
$97,150
NON-METRO
JOHNSON
$73,600
$97,150
KEARNEY, NE (MICRO)
KEARNEY
$73,600
$97,150
NON-METRO
KEITH
$73,600
$97,150
NON-METRO
KEYA PAHA
$73,600
$97,150
NON-METRO
KIMBALL
$73,600
$97,150
NON-METRO
KNOX
$73,600
$97,150
LINCOLN, NE (MSA)
LANCASTER
$78,550
$103,700
NORTH PLATTE, NE (MICRO)
LINCOLN
$73,600
$97,150
NORTH PLATTE, NE (MICRO)
LOGAN
$73,600
$97,150
NON-METRO
LOUP
$73,600
$97,150
NORFOLK, NE (MICRO)
MADISON
$73,600
$97,150
NORTH PLATTE, NE (MICRO)
MCPHERSON
$73,600
$97,150
GRAND ISLAND, NE (MICRO)
MERRICK
$73,600
$97,150
NON-METRO
MORRILL
$73,600
$97,150
NON-METRO
NANCE
$73,600
$97,150
NON-METRO
NEMAHA
$73,600
$97,150
NON-METRO
NUCKOLLS
$73,600
$97,150
NON-METRO
OTOE
$73,600
$97,150
NON-METRO
PAWNEE
$73,600
$97,150
NON-METRO
PERKINS
$73,600
$97,150
NON-METRO
PHELPS
$73,600
$97,150
NORFOLK, NE (MICRO)
PIERCE
$73,600
$97,150
COLUMBUS, NE (MICRO)
PLATTE
$73,600
$97,150
NON-METRO
POLK
$73,600
$97,150
NON-METRO
RED WILLOW
$73,600
$97,150
NON-METRO
RICHARDSON
$73,600
$97,150
NON-METRO
ROCK
$73,600
$97,150
NON-METRO
SALINE
$73,600
$97,150
OMAHA-COUNCIL BLUFFS, NE-IA (MSA)
SARPY
$80,350
$106,050
OMAHA-COUNCIL BLUFFS, NE-IA (MSA)
SAUNDERS
$75,200
$99,250
SCOTTSBLUFF, NE (MICRO)
SCOTTS BLUFF
$73,600
$97,150
LINCOLN, NE (MSA)
SEWARD
$76,900
$101,500
NON-METRO
SHERIDAN
$73,600
$97,150
NON-METRO
SHERMAN
$73,600
$97,150
NON-METRO
SIOUX
$73,600
$97,150
NORFOLK, NE (MICRO)
STANTON
$73,600
$97,150
NON-METRO
THAYER
$73,600
$97,150
NON-METRO
THOMAS
$73,600
$97,150
NON-METRO
THURSTON
$73,600
$97,150
NON-METRO
VALLEY
$73,600
$97,150
OMAHA-COUNCIL BLUFFS, NE-IA (MSA)
WASHINGTON
$80,350
$106,050
NON-METRO
WAYNE
$73,600
$97,150
NON-METRO
WEBSTER
$73,600
$97,150
NON-METRO
WHEELER
$73,600
$97,150
NON-METRO
YORK
$73,600
$97,150

 USDA Loan information for Nebraska’s top cities:

Omaha Nebraska USDA LoansLincoln Nebraska USDA LoansKearney Nebraska USDA Loans
North Platte Nebraska USDA LoansGrand Island Nebraska USDA LoansNorfolk Nebraska USDA Loans
Freemont Nebraska USDA LoansHastings Nebraska USDA LoansBellevue Nebraska USDA Loans

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