Financing options for short term rentals

[Parthenia Holly]

Hello, I currently have a three vacation rentals. Two have mortgages and one does not. I have a mortgage on my primary residence. We do not use any of the rentals for personal use. I am looking at purchasing another that I will use personally as well. For financing does anyone know if it would be better for me to get a personal mortgage for a second home, or get a business loan for this property? A cash out on the third rental is not an option because it most likely would not provide enough money. I have 35% down. Thank you for any advice.

[Steven Foster Wilson]

Quote from @Parthenia Holly:

Hello, I currently have a three vacation rentals. Two have mortgages and one does not. I have a mortgage on my primary residence. We do not use any of the rentals for personal use. I am looking at purchasing another that I will use personally as well. For financing does anyone know if it would be better for me to get a personal mortgage for a second home, or get a business loan for this property? A cash out on the third rental is not an option because it most likely would not provide enough money. I have 35% down. Thank you for any advice.

 I would call around to as many lenders as you can to answer this question. The more you ask the more options you will have. I normally call 10-20 a week when I am looking to do something like this. I am always pleasantly surprised at how many options I end up having after doing this.