Rental Loans Omaha, NE
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LendingOne – Best Rental Loans Near Omaha
LendingOne is an Omaha private money lender offering short-term mortgage loans to real estate investors in Lincoln, North Platte, Omaha. Get a private money loan for a property purchase, refinance, equity cash out, rehab or new construction purchase.
Rental Property Loans Near Omaha, NE
Our RentalOne loan product provides our customers a reliable source of financing through a simple and efficient online loan process. Our 30-year fixed-rate rental loan product was designed to help savvy investors capitalize on the rapidly growing rental market. With attractive rates and up to 80% loan-to-value (LTV) on fixed-rate loans, these loans are a great way to get cash out from your existing rental properties. RentalOne loans begin at $75K and up to $2 million with no personal income verification. *
What type of rental loan rates near Omaha, NE are offered by LendingOne?
LendingOne offers both fixed a 30-year rate starting at 5.49% and hybrid adjustable rate mortgage, 5/1, 7/1, and 10/1 starting at 4.99%. All rates are based on individual property and borrower. Call us to learn more at 866-918-1974
What type of properties are eligible for rental loans offered by LendingOne?
The following property types are eligible for our rental loans:
Single Family Residence (SFR)
2-4 Unit Properties (LTV cannot exceed 80%)
PUDs
Warrantable condos must meet Fannie Mae warrantability requirements (LTV cannot exceed 70%)
Townhouse
2 acres maximum
Non-warrantable condominiums not allowed
What is the minimum and maximum loan amounts for rental loans near Omaha, NE offered by LendingOne?
LendingOne rental loans have a minimum loan amount of $75K and a maximum loan amount up to $2M.
What states does LendingOne offer its rental loan products?
LendingOne provides lending in all States and District of Columbia except Alaska, Nevada, North Dakota, South Dakota, and Utah.
What is the minimum FICO score for LendingOne’s rental loans?
LendingOne’s rental loan FICO score minimum is 640. Tri-merged credit report is required for all personal guarantors and determined as follows:
If 2 credit bureau scores are reported, the representative score is the lower score; and
If 3 credit bureau scores are reported, the representative score is the middle score.
Foreign Nationals without an ITN are not subject to FICO requirements
What type of documentation is required for LendingOne’s rental loans near Omaha, NE?
LendingOne requires the following documentation from borrowers interested in our rental loans:
LendingOne’s online application, completed by borrower
1-month bank statements
A list of properties you currently own (a REO Schedule)
No Tax Returns Required
Lease(s) – (if currently rented)
Certification of Business Purpose/Non-Owner Occupied Affidavit
Sales Contract (on purchase)
LLC Operating Agreement or Articles of Corporations
Driver’s License
Other documents and/or materials may be requested based on the individual borrower’s circumstances and collateral.
Who is eligible for our rental loans?
Our rental loans are available to the following borrowers:
U.S. Citizens
Permanent Resident Aliens
Non-permanent Resident Aliens
Foreign Nationals
LLCs, Limited Partnerships, General Partnerships, Corporations
What is Debt Service Coverage Ratio?
Debt Service Coverage Ratio (DSCR) is a calculation that helps us determine if a rental investment is generating enough income to make its loan payment obligations.
DSCR is calculated by the following simple formula:
- DSCR = Monthly Gross Income
- PITIA*
*Principal, Interest, Taxes, Insurance and Association Fees.
What are the cash out eligibility and restrictions?
The cash out eligibility and restrictions are the following:
3-month seasoning from note date
Delayed Financing Exception per FNMA permitted and prior Bridge Loans with LendingOne qualify.
Loans not eligible for cash-out: Properties listed for sale by the borrower in the past three months.
Does my rental property have to be leased before closing?
The following are the lease requirements:
An executed lease with no less than 3 months remaining at time of close
Unleased properties the gross rents indicated on the 1007 may be used
Gross income is the lower of actual rents and market rent as indicated on Form 1007
Can I live in one of my rental properties or rent it to a family member near Omaha, NE?
No. LendingOne provides commercial only loans that are non-owner occupied (investment) properties.
Is there a prepayment penalty?
Prepayment penalty conditions are as follow:
Term: 3 Years
3, 2, 1 step-down prepayment penalty (3% of loan balance in first year, 2% of loan balance in second year, 1% of loan balance in third year)
Ready to get started with a rental loan lender that knows the Omaha market?
Choose which loan you’re interested in for your Omaha Investment Property or speak to an expert today by calling 866-918-1974
Omaha Rental Real Estate Market
Median Listing Prices for Rental Properties in Omaha, NE
Real estate investors looking to purchase or sell rental properties in Omaha, NE should consider analyzing the median listing prices of homes in the area. This allows investors to calculate whether there is enough margin for profit once all purchase costs and necessary repairs have been totaled before either selling the property again or holding it as a long-term rental investment. Rising prices in Omaha, NE can indicate it is a seller’s market where demand for properties is high enough that sellers can increase their asking prices on rental properties, and successfully close with that asking price. Alternatively, a market where prices have decreased could indicate a buyer’s market.
Median Inventory Data for Rental Investment Properties Omaha, NE
The number of properties available on the market in Omaha, NE is another great indicator of that area’s popularity and potential profitability. Usually, minimal inventory means demand is high for that area. If properties are not vacant for long, there is probably a reason why people want to live there and rental investors should take note of these factors when deciding if they should purchase a property in Omaha, NE.
Average Days on the Market for Rental Investment Properties in Omaha, NE
The length of time a property sits on the market can help rental investors understand the supply and demand in Omaha, NE. Shorter days on the market mean people are buying up or renting out homes at a faster rate. Alternatively, properties sitting vacant for longer periods of time can either mean asking prices are too high in Omaha, NE, or there may be reasons why the area is not attracting enough buyers or renters interested in living there.
Driving Factors for the Omaha Real Estate Market
Education: Omaha is home to one of the highest educated workforces in the country, greatly due in part to the surrounding top ranking schools in the Omaha, NE area.
Economy: Omaha‘s top employers are driving growth in the real estate market including General Hospital.
Businesses: According to the Omaha Chamber of Commerce, Leisure & Hospitality, Professional & Business Services, and Education & Health Services have seen high job and wage growth.