Nebraska HELOC Rates and Lenders

Whether you’d like to consolidate high-interest debt or remodel your kitchen, a home equity line of credit or HELOC may be one avenue worth considering. You can withdraw funds as much or as little as you’d like, up to a set credit limit, and cover just about any expense that comes your way. 

Fortunately, there is no shortage of HELOC lenders in Nebraska so you’re sure to find one that meets your needs. Here’s everything you need to know about Nebraska HELOCs.

Reviews of the best online HELOCs in Nebraska 

An online HELOC might make sense if you prefer a quick, streamlined process. You can apply directly on the lender’s website and get approved quickly, usually within a few business days. Upon approval, the lender can deposit the money into your account and you’ll be able to use the HELOC immediately. 

In addition to convenience, online lenders typically offer lower interest rates than brick-and-mortar lenders because they have less overhead costs. With a better rate, you can save thousands of dollars over the life of your HELOC. Here’s a look at the best online HELOCs for Nebraska homeowners. 

Figure

Best Overall

4.9 _/5

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Why we picked it

Figure stands out as Nebraska’s best overall HELOC provider, offering competitive fixed rates. 

Figure’s streamlined online application process leverages blockchain technology, ensuring quick approvals and fast funding, often within five days. This efficiency, with transparent terms and excellent customer service, makes Figure a top choice for homeowners seeking to tap into their home equity. 

The flexibility and speed of Figure’s HELOCs are ideal for those needing quick access to funds for home improvements, debt consolidation, or other financial needs.

• Fixed interest rates
• No in-person appraisal is needed
• Option to redraw up to 100% of funds
• Funding can be available in as few as 5 days
• Check your rate without affecting your credit score

Loan details

Rates (APR)	6.55% – 15.54%
Loan amounts	$15,000 – $400,000
Draw period	5 years
Repayment term	5, 10, 15, or 30 years
Funding time	As few as 5 days
Properties	Primary home, second home, or investment property
Credit score	640

Aven

Best Customer Reviews

4.8 _/5

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Why we picked it

Aven is an excellent choice for Nebraska homeowners looking to access their home equity through a HELOC. With fixed interest rates, borrowers can enjoy consistent and predictable monthly payments. Aven’s Lowest Rate Guarantee ensures you receive competitive pricing, and checking your rate won’t affect your credit score, making it a stress-free process.

Nebraska borrowers benefit from a fully digital application, which takes as little as 15 minutes to complete, with funding available within three days. Aven also offers an optional debt protection program through Securian, covering payments for up to six months if you experience job loss. With over 3,450 five-star reviews, Aven is well-regarded for its ease of use and quick service.

• Fixed interest rates
• Lowest Rate Guarantee
• Optional debt protection through Securian
• Fully digital application process
• 3,600 5-star reviews on Trustpilot (as of September 2024)
• 3-day funding after signing

Loan details

Rates (APR)	6.99% – 15.49%
Loan amounts	$5,000 – $250,000
Draw period	5 years
Repayment terms	5, 10, 15, or 30 years
Funding time	3 days from signing
Properties	All types
Min. credit score	640

Bethpage

Best Credit Union

4.7 _/5

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Why we picked it

Bethpage offers HELOCs with a low fixed introductory rate for creditworthy borrowers. This lender is an excellent option for Nebraska homeowners needing lines of credit due to its lack of fees and wide range of borrowing amounts. It provides the financial leverage required for home renovations or other major expenses. 

Bethpage’s commitment to customer service and flexible loan terms make it an excellent choice for those looking to maximize their home equity. The straightforward application process and competitive rates further enhance its appeal, ensuring borrowers can access the necessary funds.

• Borrow $10,000 – $1 million
• No application, origination, or appraisal fees
• Convert part of your HELOC to a fixed-rate option
• 12-month fixed introductory rate for qualified borrowers
• $0 closing costs

Loan details

Rates (APR)	7.24% for 12 months, then 7.75%+
Loan amounts	$10,000 – $1 million
Draw period	10 years
Repayment term	5, 10, or 20 years
Funding time	36 – 70 days, on average
Properties	Primary homes, second homes, or condos
Credit score	670

Best Marketplace

4.5 _/5

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Why we picked it

LendingTree excels in providing a platform for comparison shopping. This service lets Nebraska residents compare multiple HELOC offers from various lenders, ensuring they find the most competitive rates and terms. 

LendingTree’s extensive network of lenders and user-friendly interface make it easy to explore different options, making it a valuable tool for making informed financial decisions. 

Borrowers can navigate the HELOC landscape using LendingTree to find the best deal tailored to their needs.

• Access to multiple lenders
• Comprehensive comparison tools
• Competitive rates
• Customizable loan options

Loan details

Rates (APR)	Starting at 6.24%
Loan amounts	$10,000 – $2 million
Draw period	2 – 20 years
Repayment term	5 – 30 years
Funding time	Varies
Properties	Varies
Credit score	Varies, 620 advisable

Local HELOCs in Nebraska 

Several local lenders offer HELOCs to Nebraskans. A local lender can be a solid choice if you prioritize an in-person experience. You may apply at a physical location near your home or workplace and receive personalized service from a local customer service representative who can quickly address your questions and concerns. 

A local HELOC lender should also be on your radar if you’d like to support your community as many community banks and credit unions in the area participate in community events and fundraisers. 

If you do opt for a local HELOC lender, be sure to also consider factors such as interest rates, fees, and reputation.

Company	Rates (APR)	Location
Nebraska Bank	Starting at 8.49%	Dodge, Hickman, Atkinson, Bennet, Chardon, Columbus, Carroll, Wayne, and many more throughout Nebraska
University of Nebraska Federal Credit Union	Starting at 5.00%	Lincoln, Kearney
Mutual First Federal Credit Union	Starting at 5.75%	Omaha
Metro Credit Union	Starting at 6.25%	Omaha

What’s the difference between online and local HELOCs in Nebraska? 

While online and local HELOC lenders have similarities, there are a few notable differences between them. An online lender will usually offer a quicker application and funding process. Also, if you opt for an online lender like Figure, LendingTree, or Bethpage, you may enjoy attractive rates that start at 6.24%. 

Conversely, if face-to-face service is important to you and you’d like to support a local business, you may be better off with a HELOC lender like Nebraska Bank, University of Nebraska Federal Credit Union, Mutual First Federal Credit Union, or Metro Credit Union. 

These local lenders have branches in various cities throughout the Cornhusker State, such as Lincoln and Omaha. You can stop into a local branch to apply for and manage your HELOC in person. You may want to turn to them for a HELOC if you already have a deposit account or relationship with a local institution. 

Ask the expert

Erin Kinkade

CFP®

There are risks associated with local (brick-and-mortar) locations and online vendors. I think the key is to protect your data by sharing your information via secure encryption and not sending anything directly through email. Both online and local lenders should have this option. You can ask the lender what security measures it has in place to protect clients’ personal identifiable information (PII).

How do Nebraska HELOC rates compare to other states?

National HELOC rates currently fall between 8% and 10%. If you shop around, you’ll notice that HELOC rates are quite similar in all states. You won’t find much variance if you apply for a HELOC in Nebraska or a bordering state like South Dakota, Iowa, or Missouri. 

This is mainly because HELOC rates depend on market conditions set by the Federal Reserve, as well as your personal credit score, debt-to-income ratio, and income. While state-specific factors like home values may play a role in HELOC rates, their impact is minimal. 

How to get the best HELOC rates in Nebraska 

These tips can help you score a great HELOC rate in the Cornhusker State. 

• Increase your credit score: The higher your credit score, the more likely you are to lock in a low rate on a HELOC. If your score is below 670, you might want to improve it before you apply for a loan. Pay your bills on time, lower your debt levels, keep old accounts open, and don’t apply for new credit unless you need it. Don’t forget to visit AnnualCreditReport.com to pull free copies of your credit reports and dispute any inaccuracies. 
• Do your research: There are plenty of online and local lenders with HELOCs for Nebraska homeowners. Compare your options’ rates, terms, fees, and perks. This way you can zero in on the best HELOC for your situation and maximize your returns. Remember that many lenders will let you prequalify online to check your terms without hurting your credit score. 
• Maintain your home: In most cases, you’ll need an appraisal to get approved for a HELOC. If you prioritize keeping your property’s exterior and interior in tip-top shape, you may get a higher value appraisal and a HELOC with a better rate and larger credit line.
• Try to negotiate: You can negotiate HELOC rates depending on your financial situation and relationship with the lender. Some lenders will allow you to buy points and lower your rate. Note that you’ll likely have more luck if you have strong credit and choose a lender you’ve been loyal to.

No matter which lender you choose, make sure it’s reputable by checking on the Better Business Bureau website, TrustPilot, etc.

Erin Kinkade

CFP®

Are there any Nebraska-specific requirements or regulations? 

Unlike other states, like Texas, Nebraska has no requirements or regulations that may affect HELOC rates and terms. However, most local and online lenders in the state will request several documents such as pay stubs, bank statements, and information about your property. 

You might also need to approve an appraisal so that a lender can determine what your home is worth and how much equity you have. Be sure to understand your lender’s unique requirements before filling out an application form. 

FAQ

What credit score do you need for a Nebraska HELOC?

Many lenders typically look for a credit score of at least 620. However, a score of 700 or higher can help you secure favorable terms, such as lower interest rates. Your credit score reflects your creditworthiness. 

Higher scores signal lower risk to lenders. If your score is below 620, improving it, such as paying down debts or correcting any errors on your credit report, may help qualify you for better rates.

What are the typical fees for a Nebraska HELOC?

Typical fees for a Nebraska HELOC can include application, appraisal, and annual fees. Application fees might range from $100 to $400. Appraisal fees often fall between $300 and $500, depending on your property’s value. 

Some lenders also charge annual fees, which can be around $50 to $75. Early closure fees may apply if you close your HELOC before a specified period, such as three to five years. Always review the fee structure upfront to avoid surprises.

Are there any special programs or incentives for Nebraska HELOCs?

Yes, some lenders offer special programs or incentives for Nebraska HELOCs. These can include interest rate discounts for current customers or waived fees for setting up automatic payments. Winterization incentives or energy efficiency programs may also offer reduced rates for home improvements that save energy. 

When searching for a HELOC, ask each lender about special programs or incentives available. Comparing these benefits can help you save money and choose the most suitable option for your financial needs.

How we chose the best HELOC lenders in Nebraska

LendEDU evaluates HELOC lenders to help readers find the best HELOCs. Accessibility is important to this evaluation, so our editorial ratings system primarily focuses on companies available in most U.S. states. That’s why the lenders we selected in the online section have editorial ratings. They’ve gone through an extensive review process and were determined to offer superior products compared to other lenders. We’ve also independently verified that these companies are available in Nebraska.

Since most local lenders aren’t available outside state lines, they haven’t gone through the same review process as the online lenders. Instead, we found them through separate research and determined that each offered solutions worthy of consideration by readers.

Recap of Nebraska HELOC rates and lenders