Vacation Rental Properties
With traditional bank financing still trying to figure out how to model cash flow, we have taken the lead in this space with our innovative 5 - 7- 30 year fixed products that work using up to 75% of the value of the short-term vacation rental unit.
Up to 75% of the as-is value based upon a fair market appraisal from one of our approved AMC (Appraisal Management Companies). The program is available NATIONWIDE!
The Short Term Rental Property can be vacant without a long-term lease that would historically be required to support traditional 1.2x DSCR (Debt-Service-Cost-Ratio) or 85-90% property-based DTI (Debt-to-Income) requirements. We do not ask for tax returns or W-2s. Purchase, Term Refinance, or Cash out. Competitive Rates.
- 3/1 ARM – NO Balloon Payments EVER
- 5/1 ARM – NO Balloon Payments EVER
- 30-year fixed - Fully amortizing
- NO Limits on the number in your portfolio
- 30-Year Amortization - Full Term Interest Only Available
- Pre-Payment Penalty -Declining 3% - 2% - 1% of outstanding loan balance
- Ability to use your own title company - (National Underwriter is required)
- Rapid Closing times (~3 weeks)
- Title held into an LLC or personal name
- Lender fees are 2.0 - 3.0% of the loan amount (paid at closing)
- 3 - 6 months of PITI cash reserves are required
Less Paperwork - No Income Verification Requirements
- No W2's Required
- No tax returns Necessary
- No 4506s Ever
- 620 credit minimum
- Past bankruptcy OK – Greater than 2 years
- No source or seasoning of funds to close
- LTVs up to 75%
- No current home ownership is required
Loan Purposes
Short Term Vacation Rental Financing can be used for:
- Vacation rentals including Single Family Homes, condos, chalets, etc.
- New purchase
- Cash-out refinances
- Non Owner Occupied properties
- High-End Luxury Housing
Learn more about our products: