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Updated over 3 years ago on . Most recent reply

User Stats

6
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1
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Stuart Penman
  • New to Real Estate
1
Votes |
6
Posts

ISO Lenders for a vaca. mortgage in NC that know STR is allowed

Stuart Penman
  • New to Real Estate
Posted

We are planning to purchase our first str to list on AirBNB in NC. We want to finance it with a Vacation (aka second home) mortgage with 10% down and better rates. It's common, but we found many lenders don't know about it or might say they can do it but haven't done so before.  We are looking for a lender who has experience with this so they don't get shifty on us during underwriting.  We meet the rules for location, intent to occupy it personally for a part of the time, etc.  Any lenders based in NC or that lend in NC would be best. 

Side note - we also plan to do the downpayment and renovation via a HELOC, bonus points if anyone knows of an NC lender that does both.

Thank you

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