Hard Money Loans in Nebraska

Hard money lenders in Nebraska are readily available private money lenders offering financing solutions for investors.

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7 Best Hard Money Lenders in Nebraska

Key Terms

  • A hard money loan provides a secured real estate loan on hard-to-finance properties, including fix and flip homes and rental income properties.
  • Because many hard money lenders in Nebraska use after-repair value to determine the value of the home, these loans are attractive to many borrowers.
  • Hard money loans typically are short term financing, lasting between 1 and 5 years.

Nebraska is a Midwestern state that spans over 77,220 square miles. It is home to over 1.9 million people. As a result, the state has many large, remote, and rural areas, along with ample agricultural land. Lincoln is the state’s capital, and Omaha is the largest city here. Other large cities include Hastings, North Platte, Fremont, and Grand Island. Nebraska is known for many things, including being a part of the Great Plains.

It has an economy that’s built on agriculture, industry, and energy, with strong school systems. It’s home to The University of Nebraska, Chardon State College, and Wayne State College, among several others. Diverse, beautiful, and home to a wide range of growing communities, Nebraska has much to offer today’s home buyers.

It is also one of the most affordable places to buy a home. The average purchase price of a home in Nebraska is $200,000, according to local media sources, which is significantly below the national average. Those who live here often own a significant amount of land, and neighborhood communities also tend to have larger homes with larger lots. Like many states, the community has seen a significant increase in home values over the last decade, but in Nebraska, this has been significantly slower than in other states. That’s helped to keep homes on the real estate market affordable.

When it comes to homeownership, the U.S. Census Bureau reports that 73.7% of people here own their homes, with 26.3% renting. Key is that there is likely room for the addition of more short and long-term rental properties since only 4.5% of rentals are vacant in Nebraska. That could signal an opportunity for investors looking to buy property in growing communities.

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How Nebraska hard money loans work

A hard money loan is a type of asset-backed loan. In this case, the value of the property is used to back up the loan, which provides the lender with some security should the borrower default on the payments. Hard money lenders in Nebraska are typically private, individual investors or a group of investors working together to offer funds for these high risk and potentially high reward properties. Yet, there is a substantial amount of risk with these loans, which is why most hard money loans will have an interest rate that is significantly higher and higher overall fees for borrowing the funds than traditional mortgage brokers.

Hard money loans are a type of short-term financing that is not meant to be in place for decades. Rather, most loans are for 1 to 5 years. This makes these loans an ideal investment for fix and flip homes, where borrowers purchase, repair, and sell the properties. These loans can also be beneficial to those seeking rental property and who need a bridge loan to purchase it, allowing for time to update and renovate the property before it is then refinanced into a more affordable, long-term investment. These loans may also be used for commercial real estate loans, covering the cost of development, new construction and purchase of the property.

Hard money loans tend to be more accessible to borrowers looking for help with investment properties. Unlike other types of loans from traditional banks, there are often fewer requirements. However, all lenders have eligibility requirements that may focus on credit scores and down payments. The rules of those differ among lenders, but many hope to see borrowers with solid qualifications and properties that are likely to be worth the investment in them. Because lenders are taking on higher risks, borrowers can expect to pay more in fees and interest rates, with rates typically ranging from 8 to 15%.

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7 Top Nebraska hard money lenders

If you’re in the market for a real estate investment project in Nebraska, consider these hard money lenders that are available for projects in the state.

1. Lima One Capital

Lima One Capital is based in Greenville, South Carolina and founded by former Marines. They lend throughout the United States and offer typical private money lending products like Fix and Flip, bridge loans, construction loans, rental loans and multi-family loans.

We contacted Lima One Capital to learn more about their private lending business and here are some of the highlights:

  • For Fix and Flip loans, up to 90% LTC and 70% LTV for loans from $75K to $3 million
  • 12, 19 and 24-month terms available
  • Interest only loans
  • For Fix and Rent loans, can finance single properties or portfolio loans with 5, 10, 30-year term options available
  • For rental property, can fund loans from $75K to $1 million up to 80% LTV on purchases and refinances.

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

2. New Silver

New Silver started in 2019 by Kirill Bensenoff and Alex Shvayetsky. They offer a variety of private money lending products like fix and flip, rental, ground up and personal loans.

We contacted New Silver Lending to learn more about their private lending business and here are some of the highlights:

  • Origination fee from 1.875%
  • Loan to cost up to 90%
  • 100% construction financing available
  • Loan to ARV up to 80%
  • Terms are typically 24 months
  • Loan amounts are from $100,000 to $5 million
  • Minimum FICO score is 650
  • No hard credit pull required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

3. HouseMax Funding

HouseMax Funding is based out of Austin, Texas but has a national footprint when it comes to real estate industry lending. Started by Jeff Fetcher and Alex Morris, HouseMax provides asset-based loan financing to investors for real estate transactions.

We reached out to HouseMax to learn more about their hard money lending program and here is what we found:

  • Minimum loan amount is $75,000
  • Lends up to 75% of the after-repair value (APV)
  • 1-3 points origination charge
  • 3 months reserves required
  • Direct lender that approves loans internally and funds using their own private capital.
  • Lends in urban and suburban communities in all 50 states.
  • Goal is to close loans in 10 days or less.
  • Specializes in fix & flip loans, construction and rental loans
  • Multi-family and commercial properties are ok

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

4. Fund That Flip

Fund That Flip is a hard money lender based in New York that focuses on short term bridge loans for real estate investors looking to flip properties. Founded by Matt Rodak in 2014, Fund That Flip lends in most states.

We contacted Fund That Flip to learn more about their bridge loan program and here is what we found:

  • Up to 80% LTC and 70% ARV ratios for your project
  • Rates start at 9.99%
  • Direct lender with discretionary capital
  • Ground up construction projects ok
  • 10% down payment required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

5. EquityMax

EquityMax is based out of Florida and most of its business in the state but is able to lend throughout the United States. Founded by Brad Emmer in 1990, EquityMax has decades of experience as a hard money lender.

We reached out to EquityMax to learn more about their hard money loans and these are the key highlights that you need to know:

  • Single Family Homes
  • 1-4 Multi-Unit Properties
  • Condos and Townhomes ok
  • Commercial property and Industrial Warehouses OK
  • Direct lender that has decision making over financing deals.
  • Can originate loans to individuals, LLCs, corporations, land trusts and self-directed IRAs.
  • No prepayment penalties
  • No minimum credit score required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

6. LendSimpli

LendSimpli is a hard money lender based in Tampa, Florida. They can lend nationally in most states but may not be able to lend if the property is in a rural area. Founded by Brenden Crampton and Matthew Davies in 2018, they have nearly four years of experience in the private lending real estate investing market.

We reached out to LendSimpli to get more details about their bridge loan product and this is what we found:

  • Loan amounts up to $5 million for 1-4 unit properties
  • Loan amounts up to $20 million for 5+ unit properties
  • Single family (1-4 units)
  • Multifamily (5-20 units)
  • No owner-occupied property types
  • Loan terms 12-24 months
  • Interest-only payments with rates starting at 8.50%
  • Max LTC is 90% of project costs
  • Minimum credit score is 660
  • Prefer that you have at least two transactions in the past three years

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

7. Easy Street Capital

East Street Capital is based in Austin, Texas but lends nationwide except in North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital has over six years of experience in the real estate investing world.

We reached out to Easy Street Capital to learn more about their hard money loans and this is what we found:

  • Interest rates range from 6.9% – 10.9%
  • Points range from 2-3
  • There is a $1495 document fee
  • No minimum credit score required
  • Down payments of at least 10% required
  • Renovation financing ok
  • Fix and Flip loans do not typically have prepayment penalties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

How are Nebraska hard money loans from other loans?

Nebraska hard money lenders offer loans on real estate that is harder to finance through traditional loans like home mortgages and construction loans. This is significantly different than most traditional bank and credit union loans which must meet various regulatory requirements. There are often far more steps in obtaining a traditional loan, including more scrutiny over the property’s value and condition than expected with hard money loans.

A substantial difference is the way in which these properties are valued. Hard money lenders typically offer loans based on the after repair value of the home. That means it factors in the value of the home after upgrades and renovations are made. That’s not the case with traditional loans, which are typically based on the current value of the home, which may be significantly lower due to the amount of upgrading needed in many properties, such as in fix and flip properties.

Also notable, hard money loans often have differing requirements for down payments, with some lenders requiring them and some not. Other lenders may require a higher credit score or a proven history with investment property. Most often, these loans offer flexible terms, which often means working with lenders to find the best fit for your specific situation.

Nebraska hard money loans are more expensive, with interest rates that are typically twice as much as what a traditional loan offers. That can limit some borrowers from obtaining these loans if expenses are higher and the flipping does not yield a positive result. However, they are shorter term, ranging from 1 to 5 years compared to the 15 to 30 years on a traditional mortgage loan. That helps to make them a better overall investment for many of today’s borrowers who need flexibility for shorter term loans designed for investment needs.

Looking for a hard money lender in a different state?

If you want to find the best hard money lenders in other states, click on your state below.

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Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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