Short Term Rental Loan
Whether you are looking to acquire a short term rental property or tap into the equity of one of your existing short term rental properties, we’ve got you covered!
Host Financial’s approach is unique in that we use the income of the property rather than the income of the individual to qualify you for a loan. That means no Tax Returns, W2’s, DTI, or personal income required when applying for a loan.
We will use 1 of the 3 different types of property income to qualify the loan. Whichever income debt-covers and provides the best rates will be used.
- Market rental rates
- 12+ months of actual short term rental income
- Projected short term rental income (Run Projections Here)
Asset Types
Loan Terms
- Loan Sizes: $100k up to $3.5 Million*
- Purchase LTV: Up to 85%
- Rate & Term Refinance LTV: Up to 85%
- Cash Out Refinance LTV: Up to 80%
- Amortization: 30 Year Amortization Schedule
- Terms: 5/1, 7/1 ARMs, 10 Year Interest Only, and 30 Year Fixed
- Rates: 5.99% floor (subject to change daily due to market volatility)
- Full Recourse with personal guarantee required on all owners with majority shares (typically 20%+ or 25%+)
- DSCR Requirement: 1.0 or greater depending on loan size and property type
- Vesting: Lending to Individuals, LLCs, and Corporations
- Average Time to Close: 14 to 35 days
*DSCR of 1.25 or greater + experienced investor required for 85% purchase LTV and 80% Cash Out LTV w/ FICO 700+
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