2023 FHA Loan Limits in Nebraska
In 2023 you can borrow a maximum of $472,030 to $603,750 for a Nebraska home loan that’s backed by the Federal Housing Administration (FHA). The lower limit applies to almost the whole Cornhusker State, but the counties of Dawson and Gosper qualify for that upper limit.
More flexible than a conventional loan, an FHA loan helps borrowers who need a smaller minimum down payment and/or a less stringent credit score requirement.
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Nebraska FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ADAMS | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| ANTELOPE | $472,030 | $604,400 | $730,525 | $907,900 | $60,000 |
| ARTHUR | $472,030 | $604,400 | $730,525 | $907,900 | $191,000 |
| BANNER | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| BLAINE | $472,030 | $604,400 | $730,525 | $907,900 | $104,000 |
| BOONE | $472,030 | $604,400 | $730,525 | $907,900 | $176,000 |
| BOX BUTTE | $472,030 | $604,400 | $730,525 | $907,900 | $76,000 |
| BOYD | $472,030 | $604,400 | $730,525 | $907,900 | $30,000 |
| BROWN | $472,030 | $604,400 | $730,525 | $907,900 | $72,000 |
| BUFFALO | $472,030 | $604,400 | $730,525 | $907,900 | $218,000 |
| BURT | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| BUTLER | $472,030 | $604,400 | $730,525 | $907,900 | $131,000 |
| CASS | $472,030 | $604,400 | $730,525 | $907,900 | $289,000 |
| CEDAR | $472,030 | $604,400 | $730,525 | $907,900 | $163,000 |
| CHASE | $472,030 | $604,400 | $730,525 | $907,900 | $186,000 |
| CHERRY | $472,030 | $604,400 | $730,525 | $907,900 | $167,000 |
| CHEYENNE | $472,030 | $604,400 | $730,525 | $907,900 | $132,000 |
| CLAY | $472,030 | $604,400 | $730,525 | $907,900 | $93,000 |
| COLFAX | $472,030 | $604,400 | $730,525 | $907,900 | $103,000 |
| CUMING | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| CUSTER | $472,030 | $604,400 | $730,525 | $907,900 | $172,000 |
| DAKOTA | $472,030 | $604,400 | $730,525 | $907,900 | $280,000 |
| DAWES | $472,030 | $604,400 | $730,525 | $907,900 | $105,000 |
| DAWSON | $603,750 | $772,900 | $934,250 | $1,161,050 | $525,000 |
| DEUEL | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| DIXON | $472,030 | $604,400 | $730,525 | $907,900 | $280,000 |
| DODGE | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| DOUGLAS | $472,030 | $604,400 | $730,525 | $907,900 | $289,000 |
| DUNDY | $472,030 | $604,400 | $730,525 | $907,900 | $114,000 |
| FILLMORE | $472,030 | $604,400 | $730,525 | $907,900 | $90,000 |
| FRANKLIN | $472,030 | $604,400 | $730,525 | $907,900 | $103,000 |
| FRONTIER | $472,030 | $604,400 | $730,525 | $907,900 | $83,000 |
| FURNAS | $472,030 | $604,400 | $730,525 | $907,900 | $67,000 |
| GAGE | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| GARDEN | $472,030 | $604,400 | $730,525 | $907,900 | $59,000 |
| GARFIELD | $472,030 | $604,400 | $730,525 | $907,900 | $156,000 |
| GOSPER | $603,750 | $772,900 | $934,250 | $1,161,050 | $525,000 |
| GRANT | $472,030 | $604,400 | $730,525 | $907,900 | $107,000 |
| GREELEY | $472,030 | $604,400 | $730,525 | $907,900 | $99,000 |
| HALL | $472,030 | $604,400 | $730,525 | $907,900 | $215,000 |
| HAMILTON | $472,030 | $604,400 | $730,525 | $907,900 | $182,000 |
| HARLAN | $472,030 | $604,400 | $730,525 | $907,900 | $152,000 |
| HAYES | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| HITCHCOCK | $472,030 | $604,400 | $730,525 | $907,900 | $102,000 |
| HOLT | $472,030 | $604,400 | $730,525 | $907,900 | $168,000 |
| HOOKER | $472,030 | $604,400 | $730,525 | $907,900 | $126,000 |
| HOWARD | $472,030 | $604,400 | $730,525 | $907,900 | $215,000 |
| JEFFERSON | $472,030 | $604,400 | $730,525 | $907,900 | $132,000 |
| JOHNSON | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| KEARNEY | $472,030 | $604,400 | $730,525 | $907,900 | $218,000 |
| KEITH | $472,030 | $604,400 | $730,525 | $907,900 | $155,000 |
| KEYA PAHA | $472,030 | $604,400 | $730,525 | $907,900 | $71,000 |
| KIMBALL | $472,030 | $604,400 | $730,525 | $907,900 | $108,000 |
| KNOX | $472,030 | $604,400 | $730,525 | $907,900 | $72,000 |
| LANCASTER | $472,030 | $604,400 | $730,525 | $907,900 | $250,000 |
| LINCOLN | $472,030 | $604,400 | $730,525 | $907,900 | $203,000 |
| LOGAN | $472,030 | $604,400 | $730,525 | $907,900 | $203,000 |
| LOUP | $472,030 | $604,400 | $730,525 | $907,900 | $121,000 |
| MADISON | $472,030 | $604,400 | $730,525 | $907,900 | $179,000 |
| MCPHERSON | $472,030 | $604,400 | $730,525 | $907,900 | $203,000 |
| MERRICK | $472,030 | $604,400 | $730,525 | $907,900 | $215,000 |
| MORRILL | $472,030 | $604,400 | $730,525 | $907,900 | $138,000 |
| NANCE | $472,030 | $604,400 | $730,525 | $907,900 | $105,000 |
| NEMAHA | $472,030 | $604,400 | $730,525 | $907,900 | $88,000 |
| NUCKOLLS | $472,030 | $604,400 | $730,525 | $907,900 | $99,000 |
| OTOE | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| PAWNEE | $472,030 | $604,400 | $730,525 | $907,900 | $30,000 |
| PERKINS | $472,030 | $604,400 | $730,525 | $907,900 | $158,000 |
| PHELPS | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| PIERCE | $472,030 | $604,400 | $730,525 | $907,900 | $179,000 |
| PLATTE | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| POLK | $472,030 | $604,400 | $730,525 | $907,900 | $157,000 |
| RED WILLOW | $472,030 | $604,400 | $730,525 | $907,900 | $119,000 |
| RICHARDSON | $472,030 | $604,400 | $730,525 | $907,900 | $60,000 |
| ROCK | $472,030 | $604,400 | $730,525 | $907,900 | $123,000 |
| SALINE | $472,030 | $604,400 | $730,525 | $907,900 | $135,000 |
| SARPY | $472,030 | $604,400 | $730,525 | $907,900 | $289,000 |
| SAUNDERS | $472,030 | $604,400 | $730,525 | $907,900 | $289,000 |
| SCOTTS BLUFF | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| SEWARD | $472,030 | $604,400 | $730,525 | $907,900 | $250,000 |
| SHERIDAN | $472,030 | $604,400 | $730,525 | $907,900 | $105,000 |
| SHERMAN | $472,030 | $604,400 | $730,525 | $907,900 | $122,000 |
| SIOUX | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| STANTON | $472,030 | $604,400 | $730,525 | $907,900 | $179,000 |
| THAYER | $472,030 | $604,400 | $730,525 | $907,900 | $60,000 |
| THOMAS | $472,030 | $604,400 | $730,525 | $907,900 | $177,000 |
| THURSTON | $472,030 | $604,400 | $730,525 | $907,900 | $104,000 |
| VALLEY | $472,030 | $604,400 | $730,525 | $907,900 | $148,000 |
| WASHINGTON | $472,030 | $604,400 | $730,525 | $907,900 | $289,000 |
| WAYNE | $472,030 | $604,400 | $730,525 | $907,900 | $153,000 |
| WEBSTER | $472,030 | $604,400 | $730,525 | $907,900 | $50,000 |
| WHEELER | $472,030 | $604,400 | $730,525 | $907,900 | $143,000 |
| YORK | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
How are FHA loan limits determined?
The Federal Housing Finance Agency (FHFA) sets the conforming loan limit each year based on the national average home sales price in the year before. This limit is really a line in the sand to mark what’s an appropriate amount to borrow in a mortgage.
This number is then used as a base to set the maximum amounts the FHA loan limit is allowed to finance. In most of the country, the lowest FHA loan limit, called the “floor,” applies, which is 65% of the conforming loan limit, or $472,030 for a one-unit home. The top limit, called the “ceiling,” only applies to the few, highest-cost areas of the nation and is 150% of the conforming loan limit.
How to qualify for an FHA loan in Nebraska
Nebraska homebuyers with lower credit scores, small cash reserves and more debt could find it easier to qualify for an FHA loan than a conventional loan. You still need to meet some minimum requirements, though.
- Credit score and down payment. A credit score of 580 or higher requires only a 3.5% down payment, while scores between 500 and 579 require at least 10% down.
- Debt-to-income (DTI) ratio. A DTI ratio shows how much you spend each month paying off debt like student loans, auto loans and credit cards. FHA lenders typically look for a DTI below 43%, although there may be exceptions that allow up to a 50% DTI.
- FHA home appraisal. An FHA home appraisal is required for all FHA loans and differs from conventional appraisals because it can’t be waived. It’s also slightly more expensive because it not only determines the home’s value but also evaluates its livability and safety.
- FHA mortgage insurances. Also unique to FHA loans are two types of required mortgage insurances. The mortgage insurance premium (MIP) is added to your monthly payment and costs about 0.15% to 0.75% of your loan amount. The upfront mortgage insurance premium (UFMIP) is typically rolled into the mortgage and costs 1.75% of your loan amount.
- Occupancy. The home you buy with an FHA loan must be your primary residence for at least 12 months after purchase.
Buying a multifamily property with an FHA loan
You could get a multifamily home loan through the FHA program. The home can have up to four units that you could use to house your family and/or rent out. You may be able to use any expected rental income to qualify for the loan, too.
You’ll still need to meet all of the regular FHA loan qualifications, such as a 3.5% down payment and the occupancy requirement of living in one unit for at least a year after purchase. The FHA loan limit, however, increases with each additional unit to help you afford to buy the extra space.
FHA lenders in Nebraska
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| PennyMac Mortgage | 5 stars | 580 |
| Truist Mortgage | 4 stars | 580 |
| Guild Mortgage | 3 stars | 540 |