Have lenders changed their tune on STR refis?

[Mike De Lota]

Have lenders changed their tune on refis for STR properties? I've combed through the forums and it seems like 1-2 years ago most lenders still needed 2 years income history on tax returns. Other folks have posted that they've actually had success working with lenders on refis for STR without the income history, but depends on the market. Still others have suggested placing long term tenants for a period of time to show cash flow positive rental history.

I'm debating on using HELOC money to purchase an STR using BRRRR strategy but it doesn't make sense to do so if I won't be able to refi.

Sorry that this question gets asked semi-regularly, I just haven’t found any recent updates adapted to today’s markets. Thanks in advance!

[John Underwood]

@Mike De Lota

If you qualify for the initial purchase without any rental income from the subject property then you should also qualify for the refinance as far as income requirements go.