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How does a Short Term Rental (STR) program work?

Information about our STR Rent program

Ben avatar
Written by Ben
Updated this week

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: 1.00x

  • 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.

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