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Updated over 1 year ago,
DSCR Loan Products for STR's
Hey all - wanted to see if anyone out there has used a DSCR loan for an STR. I have a few STR's all under conventional loans in my personal name (title is in LLC though), which is effecting my DTI/shows up on my credit. I am a high W2 income earner, but need to start buying under my LLC, as eventually my DTI won't be sufficient enough to secure lending.
I'm wanting to know a couple things:
1. What kind of rates/terms can I expect from a typical DSCR loan on a STR in the current environment?
2. What proof of revenue is typically used? (AirDNA, my personal Airbnb history, etc?)
3. Where would you start your search for the DSCR loan products/ are there any places you'd recommend shopping first?
I'm in Fort Worth area, and would love to connect with any fellow local investors as well. I appreciate the help, thanks!