State Guides/Nebraska
NE

Nebraska Home Buying Guide

Midwest Region · Judicial Foreclosure State

Homestead Exemption

Key Facts at a Glance

Median Home Price
$245,000
Property Tax Rate
1.73%
Transfer Tax
0.23%
Attorney Required
No
Foreclosure Type
Judicial

What Makes Nebraska Unique

Among highest property tax rates in the Midwest

NIFA offers below-market rates for first-timers

Omaha offers good affordability vs other metro areas

First-Time Buyer Programs in Nebraska

1

NIFA First Home Program

Contact your state housing finance agency for current eligibility and rates

2

NIFA Homebuyer Assistance Program

Contact your state housing finance agency for current eligibility and rates

3

Rural USDA Loans

Contact your state housing finance agency for current eligibility and rates

Program availability, income limits, and interest rates change frequently. Verify current terms with your lender or state housing finance agency.

Closing Costs in Nebraska

1%
Avg Closing Costs
of purchase price
$2,450
Estimated Closing Costs
on median-priced home
0.23%
Transfer Tax
may be split with seller

Attorney at Closing

Attorney Not Required

Nebraska does not require an attorney at closing. A title company typically handles the transaction. Consider hiring one anyway for complex deals.

Local Tips for Nebraska Buyers

1

Nebraska's property taxes are a significant ongoing cost.

2

NIFA Homebuyer Assistance provides up to $10,000 DPA.

3

Judicial foreclosure process averages 8–12 months.

Estimated Annual Ownership Cost in Nebraska

Based on the median home price of $245,000 with a 10% down payment and 7% mortgage rate.

Annual Mortgage Payment$17,596
Annual Property Taxes$4,239
Homeowners Insurance (est.)$1,225
Maintenance (est. 1%/yr)$2,450

Ready to Calculate Your Numbers?

Use our free calculators to estimate your monthly payment, affordability, and closing costs in Nebraska.