Dear AIRBNB & STR Investors,
There are a lot of lender portals that match borrowers with lenders, but very few mortgage brokers that specialize in Short Term Rental and AIRBNB Mortgage Loans that are easy to find and work with. We are that team.
Iâm AJ Wong - licensed Real Estate & Mortgage Broker and Iâve helped dozens of AIRBNB investors acquire and finance short term rental investment properties.
The difference between us and a lending portal is our specialized STR experience. Not all lenders or loans are created equal and the short-term rental mortgage and loan space is no exception.
Although DSCR or Debt Service Coverage Ratio loans are often marketed as âthe path of least resistanceâ the do come with some notable differences from QM âConventional AIRBNB Mortgagesâ such as slightly higher interest rates or early payoff penalties.
Most conventional STR lenders will allow borrowers to utilize the projected or actual STR or long term rental income to help off set their debt ratios and qualify. A strong STR Loan Specialist will analyze your full borrowing options before suggesting a DSCR or alternative income verification mortgage.
Since STRs are a prime and competitive asset class it is essential that investors have their proverbial âducks in a rowâ with a sense of borrowing costs and documentation requirements prior to engaging in a formal search or offer.
Hereâs one from this week:
ASSET DEPLETION + W2 (NON-PRIME)
$4,000,000 loan
100% cash-out
Borrower had multiple income sources â but none strong enough on their own
W2 alone didnât work â Assets alone didnât work
What we did instead:
â Combined W2 income + asset depletion
â Structured together to qualify
âApproved and closed.
We can use these individually or combined:
W2
Bank Statements
1099
Asset Depletion
Airbnb Loan Programs â Work with an STR lender that specialize in Airbnbs and vacation rentals. Mortgage loans for short-term vacation rentals and Airbnb properties. Online quotes without credit checks.
âïž We shop 240+ Lenders including all of the above to find you the rock bottom rate and program for your AIRBNB property purchase or refinance needs.
ð€Your strategic Lending Parter
With 20+ years in the mortgage industry under my belt there isnât too much in the space that can surprise or impress me. One group that has and who I currently hang my license with is Loan Factory.
Truly tech forward company that both I and my referred clients have all had an exceptional experience with. Since I donât work âboth sidesâ of any real estate + mortgage transactions - I refer my AIRBNB and STR investors to the first person I recruited into the industry 2004 - Mr. Chiofalo with Loan Factory.
ð¯ What We Like
Accurate mortgage pricing tool that does not require a credit check (provided the inputs are accurate so are the terms displayed).
Self Revise Pre Quals. In the STR business there are often pressures that do not accompany standard real estate transactions. I like the ability to adjust Pre Quals on the fly without a request from the mortgage broker.
LOTS of lenders that provide rock bottom rates. There has not been a loan scenario referred that was not doable or highly competitive. In most instances that my investors shop, they come back to Loan Factory because the terms were that much stronger. Also if there is a quirky requirement (like closing in or transferring to an LLC) theyâve found a home for the loan.
Convenience and transparency. The platform itself is very user friendly and the teams behind the scenes are nothing short of outstanding. My clients know where they are in the process and what they need to provide and each has received the terms promised at inception.
ððŒ With 40+ years of combined lending experience and the power of our 240+ Lenders - we dare you to compare!
For a quick quote or to schedule a AIRBNB Mortgage consultation to qualify or compare terms visit us below!
â¬ïž Some of the AIRBNB, STR & DSCR Loan Programs we offer:
NON-QM (Alternative income & asset verification) Spotlight: Asset Depletion & DSCR
Fixed Second Lien Programs up to $500K (Primary, Second, Investment)
JUMBO ARM Specials
Non-Warrantable Condos and Vacant Properties
ð MORTGAGE PROGRAMS
ð°Asset Depletion Qualification Loans
Did you know that you donât have to sell your portfolio or assets to utilize them to qualify? Instead - borrowers can use their money market or retirement account funds as âincomeâ to qualify. Hereâs how: Multiply the proposed payment by two-ish (40% DTI) then take 70% of the value of the portfolio and divide it by 60-84 months. If the balance is sufficient to cover the âproposedâ payment, high-asset borrowers can qualify for near conventional loan rates (MUCH BETTER THAN DSCR!)
ðŠFirst Lien HELOC Example Program
𧮠Example No-Ratio Program - Primary & 2nd Homes - When income docs donât work, we do. This loan requires:
No Income or DTI Requirements
Up to $2.5M Loan Amount ($3M with exception)
80% Max LTV for Purchase/Rate-Term
75% Max LTV for Cash-Out
No Cash-Out Seasoning
620 Min FICO
100% Gift Funds Allowed (for down payment & closing costs)
ð¡Example DSCR Loan Programs (Debt-Service-Coverage-Ratio)
No Seasoning on Cash-Out Refinances: Unlock equity immediately.
No Current Appraised Value Seasoning: Just renovated? We use the most recent appraisal.
No Chain of Title Seasoning: Need to add a new borrower to title? No problem!
Vacant Properties - we lend on vacant properties.
Recently Listed Properties - off MLS by closing.
Fair Market Rent or Current Rent - use whichever is Greater!
Weekly Rate & Program Highlights
ð JUMBO ARM rates are reaching enticing levels with one of our premier jumbo lenders. Intended for prime conventional borrower of primary and secondary residences.
Working on a luxury purchase that requires additional buyer incentives and elite attentive client care? Call Joseph 24/7/365 @ 954-480-7478
ð Seller Concessions are HOT: Did you know that on second home loans the maximum seller paid concession with as little as 10% down is 6% of the sales price!?
Below is a Seller Concession Cheat Sheet:
ð§ðŒâð€Pro Realtor & Investor Concierge: Are you a Realtor closing 10+ Deals annually or an individual investor with more than 3+ properties owned? Ask about our repeat client and portfolio programs that centralize operations. Book your 15 minute Private Mortgage Consultation here.
Call, text or email us anytime,
Joseph Chiofalo | Loan Factory | Licensed NMLS Mortgage Broker
ð²954-480-7478 ð§ [email protected] | LIVE QUOTES âïž
Anthony AJ Wong | Loan Factory | Licensed NMLS Mortgage & Licensed OR + CA Real Estate Broker - Sesemi STR Brokers Powered by Fathom Realty
ð²541-800-0455 ð§ [email protected] | Shop OR STRsð²