Short Term Rental Loan
Our Short Term Rental Loans are specifically designed for properties ran as Short Term Rentals (Airbnb, VRBO, Booking, etc.) in which there are no leases in place. No leases? No problem.
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
- Project short term rental income
Eve Paul
Director
Larry Lawrence
General Manager
Asset Types
Loan Terms
Loan Size | $100k to $2.5 Million* * Larger loan sizes available on a case by case basis |
LTV Purchases | Up to 75% LTV On Purchase |
LTV Refinance | Up to 70% LTV w/ Cash-Out Options Available |
Amortization | 30 year Amortization Schedule w/ 25 year options available. |
Terms | 5/1 ARMs, 7/1 ARMs, 10/1 ARMs, and 30 YR Fixed* *Interest Only Options Available. |
Interest Rates | 4.5% to 8% (Covid-19 May Affect Current Rates) |
Recourse | Full Recourse. Personal Guarantee required on all owners with 20%+ ownership. |
DSCR Requirement | 1.0 or Greater (How is DSCR calculated?) |
Vesting | Lending to Individuals, LLCs, Corporations, and Trusts* * Trusts on case by case basis |
Time to Close | 21 to 45 days |
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