Seeking 75% Cashout DSCR for STR with <12 Months Rental History in Poconos

[Kori Lambert]

Hi. I have a STR that I put a lot of reno into, and I am hoping to pull that cash out for my next purchase.

I bought the home in March 2022, so it is seasoned, but I only began listing on AirBNB as of August 2022, so I don't have a 12 month history of STR income.

I need DSCR because my DTI is too high for conventional, but my credit scores are strong.

The property is in the Poconos, so it is too rural to use LTR income to qualify. However, there is a ton of STR rental data for the area. Know of any lenders that would look at this?

Thanks!

[Robin Simon]

If the property is designated as Rural on the appraisal, its going to be tough to find a DSCR lender that will go up to 75% Cash-Out, but not necessarily impossible

What is the income looking like for the 7 months operations since August 2022?  Have you pulled the AirDNA estimate and compared the trailing 7 with that?  Also, what is your estimated value of the property