Nebraska Mortgage Calculator

Calculate your monthly mortgage payment in Nebraska. Pre-filled with Nebraska's average property tax rate of 1.52%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$443
Homeowner's Insurance
$100
Total Monthly Payment
$2,313

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,313/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Nebraska Housing Overview

Nebraska has an average property tax rate of 1.52%. Nebraska's cost of living is about 10% below the national average.

Property Tax: 1.52%Progressive rates up to 5.84%Rates being reducedFortune 500 companies in Omaha

Buying a Home in Nebraska

If you're considering buying a home in Nebraska, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Nebraska's average property tax rate of 1.52% to give you a more accurate estimate.

Nebraska Property Taxes

Nebraska has an average effective property tax rate of 1.52%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 1.52% rate means approximately $5320 per year, or $443 per month in property taxes alone.

Cost of Living in Nebraska

Nebraska's cost of living is about 10% below the national average. When evaluating whether to buy a home in Nebraska, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Nebraska Homebuyers

  • Nebraska has been cutting its top income tax rate — current rates may be lower than expected
  • Nebraska's cost of living is well below the national average
  • Omaha is home to several Fortune 500 companies including Berkshire Hathaway
  • Nebraska partially taxes Social Security benefits above certain thresholds

Key Nebraska Features

  • Progressive rates up to 5.84%
  • Rates being reduced
  • Fortune 500 companies in Omaha
  • Partial Social Security taxation

See How Your Nebraska Mortgage Fits Your Financial Plan

This calculator shows your Nebraska mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Nebraska Mortgage Costs with Other States

South Dakota1.13% property taxIowa1.53% property taxMissouri0.97% property taxCalifornia0.71% property taxNew York1.46% property taxTexas1.80% property tax

Frequently Asked Questions

What is the average property tax rate in Nebraska?
The average effective property tax rate in Nebraska is approximately 1.52%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Nebraska's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Nebraska?
Your mortgage payment in Nebraska depends on the home price, your down payment, interest rate, and loan term. With Nebraska's average property tax rate of 1.52%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Nebraska an affordable state to buy a home?
Nebraska's cost of living is about 10% below the national average. When evaluating affordability in Nebraska, consider not just the home price but also property taxes (1.52% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Nebraska property taxes compare to other states?
Nebraska's average property tax rate of 1.52% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Nebraska?
Most states, including Nebraska, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Nebraska's housing authority and the FHA, VA, and USDA loan programs for additional options.

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