Nebraska Second Home Loans and Mortgage Solutions

Financing Your Dream Second Home

Looking to buy a second home in Nebraska? Whether it’s a weekend lake property, a Sandhills ranch, or a seasonal getaway near Omaha, BNB Lending provides second home mortgage options designed for part-time occupancy. We help you navigate Nebraska’s tax rules, short-term rental requirements, and local zoning standards. Our second home loans come with competitive terms, quick closings, and personalized guidance to ensure compliance with lender expectations and Nebraska-specific laws. From city condos to remote retreats, we make second home financing seamless and efficient.

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How to qualify

To obtain a quote, we will need the following information:

Property Value and

 Purchase Price


Down Payment

Amount


Credit Score

 

Asset Types

  • Single Family Homes
  • Townhomes
  • Condos
  • 2 - 4 Units (Duplex, Triplex, Quadplex)
  • Multi-Family: 5 - 8 Units
  • Mixed-Use: 2 - 8 Units
  • Multi-Family: 9+ Unit



Loan Terms


  • Loan Sizes: $100k up to $3.5 Million (Larger loan sizes available on a case by case basis)
  • Purchase LTV: Up to 85%
  • Rate & Term Refinance LTV: Up to 80% 
  • Cash Out Refinance LTV: Up to 80%
  • Amortization: 30 Year % 40 Year Amortization Options Available
  • Term Lengths: 5/6 ARMs, 7/6 ARMs, 10 Year Interest Only, 30 Year Fixed & 40 Year Fixed
  • Floor Rate: 5.50% (subject to change daily due to market volatility)
  • Full Recourse with personal guarantee required for all borrowers with majority ownership (typically 20%+ or 25%+ if closing in an Entity)
  • DSCR Requirement: 1.00x or greater depending on loan size and property type. Sub-1.00x DSCR and NO DSCR options available.
  • Vesting: Lending to Individuals, LLCs, and Corporations. Trusts Allowable on a Case by Case Basis.
  • Average Time to Close: 14 to 35 days

Wondering if you qualify for investment property financing in your area?


We offer lending services in all 50 states!

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Frequently Asked Questions

What are the requirements for a second home loan in Nebraska?

Nebraska second home loans follow conventional lending rules. The property must be a single-unit residence, suitable for year-round use, and personally occupied for part of the year. It cannot be used primarily for rental income or held by an LLC. Lenders typically require a 10–20% down payment, a strong credit profile, and verifiable income. Nebraska does not impose additional state-level lending restrictions, but local ordinances or HOA rules may apply. At BNB Lending, we confirm your eligibility based on the intended use and location of your target second home.

How do short-term rental rules affect loan classification?

Renting your property frequently on a short-term basis may disqualify it from second home status and reclassify it as an investment property. Nebraska has no statewide short-term rental law, but local governments may enforce lodging tax collection and registration. A 5.5% state lodging tax applies to short-term stays, and local municipalities may add additional taxes. BNB Lending reviews your rental plans and the relevant local rules to ensure your mortgage structure fits lender definitions and complies with Nebraska’s STR tax framework.

Do second homes qualify for property tax benefits in Nebraska?

Nebraska second homes are taxed at 100% of their market value and do not receive homestead exemptions. The state does not create a separate classification for vacation homes, so they are treated the same as other non-primary residences. Local tax burdens vary depending on levy rates set by each jurisdiction. Although itemized deductions are allowed on state returns, no additional breaks apply to second homes. At BNB Lending, we help buyers understand Nebraska’s tax structure and estimate annual costs based on property value and location.

Can I deduct mortgage interest on a second home?

Mortgage interest may be deductible at both the federal and Nebraska state level if you itemize. To qualify, the home must meet IRS personal-use criteria and remain within loan limits. If the home is occasionally rented, the interest deduction must be prorated based on personal-use days. Nebraska allows state tax filers to mirror the federal deduction but does not offer additional credits for vacation properties. At BNB Lending, we structure your loan with tax efficiency in mind and recommend working with a CPA familiar with Nebraska tax law.

Are there second home loan programs in Nebraska?

State-level loan assistance through the Nebraska Investment Finance Authority (NIFA) is limited to first-time and primary homebuyers. These programs do not extend to second homes, vacation properties, or seasonal residences. BNB Lending fills that gap by offering second home loans statewide—from Lincoln to Lake McConaughy. Our lending team helps you assess zoning, STR regulations, and property tax implications to structure a loan that complies with Nebraska guidelines while supporting your ownership goals.

What types of properties qualify for second home loans?

Second home loans apply to one-unit properties used primarily for personal occupancy and livable year-round. Accepted home types include detached houses, townhomes, and condos. The property must meet appraisal and condition standards and cannot be a timeshare or multi-unit rental. In Nebraska, short-term rental laws vary by city, so zoning or licensing may affect usage. At BNB Lending, we analyze your property’s features, location, and planned use to confirm that it qualifies for second home financing under lender requirements.

Who benefits from choosing a second home loan over an investment loan?

These loans are perfect for self-employed individuals, LLCs, and investors managing multiple properties. If you plan to use your Nebraska home primarily for personal stays and only rent it occasionally, a second home loan may offer better rates and terms than an investment loan. These loans must be in your personal name—not held by an LLC. BNB Lending structures Nebraska second home loans to provide flexibility while keeping your financing compliant with lender and zoning guidelines.

Thinking beyond Nebraska? Explore Airbnb loans and second home opportunities in nearby states like Iowa or Kansas to expand your portfolio.