Nebraska is a two-metro market for investors. Omaha and Lincoln have the population, the buyers and the renters that lenders look for, and landlord rules that move quickly. The rest of the state mostly sits too far from either metro for most lenders' location rules, and property taxes can decide whether a rental works at all. This page covers all of it, then our lending partners' terms.
Our lending partners' underwriting guidelines look for property within about 45 to 60 minutes of a metro area of 200,000 people or more. Nebraska has two, and they sit an hour apart along Interstate 80.
The Omaha metro: Omaha, Bellevue, Papillion, La Vista, Gretna, Elkhorn and Fremont, plus Council Bluffs across the river in Iowa.
The Lincoln metro: Lincoln and its surrounding towns in Lancaster County, with Seward, Crete and Beatrice within reach.
West of Lincoln it gets harder. Grand Island, Hastings, Kearney, North Platte and Scottsbluff are well over an hour from either metro and have much smaller metros of their own, so properties there generally fall outside the guideline. Check any address west of Lincoln before you commit.
Two rules apply anywhere: a finished value of at least $100,000, and a lot of two acres or less, which excludes acreages at the edge of both metros.
Nebraska's Uniform Residential Landlord and Tenant Act applies statewide, and a 2019 update set the timelines landlords use now.
Unpaid rent: a written notice giving the tenant seven calendar days to pay. If the rent is not paid, the landlord can end the rental agreement and file for possession. The trial is held 10 to 14 days after the summons is issued, one of the quicker schedules in the country.
Other serious breaches: a notice giving 14 days to fix the problem, with the tenancy ending at least 30 days after the notice if it is not fixed.
Security deposits: no more than one month's rent, plus a pet deposit of up to a quarter of a month's rent. The balance and an itemized list of deductions must go back within 14 days after the tenancy ends, mailed to the last known address if the tenant leaves none.
Month-to-month tenancies end on 30 days' written notice.
Documentary stamp tax. Nebraska charges $2.25 per $1,000 of value when a deed is recorded, normally paid by the seller. On a $250,000 resale that is about $563, small next to many states.
Property tax. This is the number that deserves the most attention in Nebraska. The state's property taxes are among the higher ones in the country, set by local districts, and they can make a rental that looks strong on rent alone much thinner. Pull the actual tax bill for the address, not an estimate, before you set your rent target or size a DSCR loan, because the lender will count the full tax in the payment.
Foreclosure. Nebraska allows trustee sales under a deed of trust, a faster route than court foreclosure, which is one reason lenders are comfortable in the state's two metros.
No Nebraska county is on the list where our lending partners cap leverage at 50 percent, so standard terms apply wherever the location test is met.
Fix and flip and bridge loans: from $50,000, up to 100 percent of cost but no more than 70 percent of after-repair value, with a 600 minimum credit score. Standard pricing under the underwriting guidelines is 12.99 percent and 2.99 points. The 10.99 percent starting rate is available after two loans have been paid off in good standing with our lending partner; a first-time borrower should expect to start above it and earn the way down.
DSCR rental loans: $75,000 to $2 million at up to 80 percent of value, qualified on the rent, with rates from 5.99 percent on the program page.
Construction loans: $100,000 to $3 million on non-owner-occupied single-family homes, from 8.5 percent.
Loans close in an entity such as an LLC, and every owner of 30 percent or more personally guarantees the loan. Terms change, so we confirm them for your property before you commit.
Yes. Nebraska is one of the states our lending partners finance in. The property must be non-owner-occupied, have an after-repair value of at least $100,000, and sit within roughly 45 to 60 minutes of a metro area of 200,000 people or more, which in Nebraska means the Omaha and Lincoln areas.
Generally not through our lending partners. Grand Island, Kearney, North Platte and Scottsbluff are regional centers with metros far below 200,000 people, and they sit well over an hour from Lincoln or Omaha, so properties there fall outside the location guideline.
Nebraska charges a documentary stamp tax of $2.25 for every $1,000 of value when a deed is recorded, normally paid by the seller. On a $250,000 resale that is about $563.
Seven calendar days' written notice to pay. If the rent is still unpaid after seven days, the landlord can end the rental agreement and file for possession, and the trial is set for 10 to 14 days after the summons is issued.
No more than one month's rent, plus a pet deposit of up to a quarter of a month's rent. The balance and an itemized list of deductions must go back to the tenant within 14 days after the tenancy ends.
Nebraska's property taxes are among the higher ones in the country, and they are set locally, so check the actual rate and the most recent bill for the exact address before you estimate a rental's holding costs.
Holding a Nebraska rental? Our two free landlord books compare what a rental costs to carry across the states.
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Dominion Hard Money does not lend its own funds; it arranges financing through third-party lending partners. All financing is arranged for business purposes only and secured by non-owner-occupied investment property. Not a commitment to lend. All loans subject to underwriting, property review, and approval by the lender. Terms vary by property, borrower experience, and exit strategy.
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