New Construction to Permanent Loan for 2nd Home or Invest Prop

[Brian Williams]

Hi folks,

I am looking at securing a new construction to permanent loan (for builder, and not developer) for a property we intend to enjoy as a vacation home part of the year and mostly rent out via AirBnB. A few questions I'd be grateful for help with:

     - It will be in the NC area. Do you know of any good banks who offer these kinds of loans that you've been pleased with?

     - Can I count this as a 2nd home or do I have to take it as an Investment Property? This is a little fuzzy. One bank said if we AirBnB it all, they won't touch the loan as it will automatically be designated an "Investment Property." That was NOT my understanding at all. It is more than 50 miles from our home, and we will stay there at minimum, 3 weeks out of the year. 

- Do some banks factor in projected rental income when they calculate my DTI ratio? I would hope so, as that is how we intend to pay for this on a monthly basis.

Any other thoughts / advice would be greatly appreciated!!!

Thanks,

Brian