As part of our Rent program, we can finance your short term vacation rental property.
Definition:
Properties leased for less than six months (e.g., daily, weekly, or monthly rentals).
Must have at least one year of operating history.
Key Guidelines:
Minimum DSCR: 1.15x
Occupancy Requirements: To be considered occupied/leased, STR properties must show 12 months of rental history.
Reserve Requirements: 6 months of PITIA/ITIA; +6 months if loan amount > $2MM.
Minimum Loan Amount: $150,000
Valuation: Market rent addendum on an appraisal and/or STR specific rent valuation such as AirDNA (on new purchases), refinance requires rental history.
Eligible Property Types:
Single Family Residences (SFR – Attached/Detached)
PUD/Townhomes (Attached/Detached)