Denied financing due to being a Small business owner, no AirBNB

[Brittney WIlliams]

If anyone else has experienced this while trying to refinance, please let me know. With perfect credit, 6 figure cash reserves, and a 6 figure self employed income that wasn't affected by Covid, we were just denied refinancing on our investment properties.  They said there were new laws in place for small business owners that make it next to impossible for them to get any kind of financing. They also could NOT count our years of AirBNB income as income because they said "There will be another second wave" so they cannot count it as reliable income anymore?? I'm literally shocked at these new requirements. Our self employment income was cut to 1/3 due to the new calculations they use, making the debt/income ratio completely off. He said only 1 out of 100 self employed clients are getting financing right now. 

[Paul Sandhu]

You basically have to prove that you don't need the money in order to get the loan, or so I have been told.  This is from a bank president.  This was during the last Super Bowl at a party at my house.  There was a lot of whiskey involved, some boxing gloves, and I ended up with a bloody nose.