AirBNB rental financing

[Eric Bilderback]

Any AirBNB folks in here,

How do you qualify for mortgages on a second/vacation rental? For my next purchase I wanted to buy a place I could use as an AirBNB. Looking around I found this place I loved but it is fairly expensive. Getting my ducks in a row here for financing will the lender look at my total DTI ratio and not allow me to use any of the future income of the property to qualify? Or will they look at the property strictly as an investment?

-It was not used a vacation rental or income property so there is no history to show.

-If I bought the home strictly as a second home (at least for the banks purposes) I'm not sure I could qualify at least not without a much larger down payment.

I would like to do somewhat of a hybrid where I purchase this place use it a little for myself accept the lower ROI but the rental pays for it at least to a large extent and even help me qualify for financing so I don't have to make such a large down payment. But not sure the banker will go for hybrid plan! LOL

Thank you for reading,

[Luke Carl]

Should be no problem just call 10 banks. First question I would ask is “how many vacation home loans do you do per year”