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Updated over 3 years ago,
Historical Vacation Rental Data
I am in the process of building a vacation rental on a four season resort. It is funded by a construction loan and will transition to a mortgage around January. My concern is that my DTI is not great and I won't be able to get a good rate or pull some of the equity that the home will more than likely have when it is complete. I have enough in savings to cover 6 months of mortgage for my property, a long term rental I own, and this property I am building. But the banks seem to focus primarily on DTI.
Is there anywhere I can collect historical performance data on short term vacation rentals in a specific area? I would like to have that in my back pocket in case I run into any issues when it comes time to roll over to a mortgage.
Thank you for any assistance.
James