All Forum Posts by: Daniel Christopher

✅ Fast & Easy Qualification

✅ Qualify With:
1. Actual or Projected STR Income (AirDNA/Rabbu)
2. Credit Score
3. Liquidity (When Needed)

🚫No W2's, Tax Returns, or personal Debt-to-Income Ratio required.

✅ Up 80% LTV on Purchase

✅Cash Out Refinance 70% of ARV (3-6 months) or 75% of ARV (6+ months)

✅Rate & Term Refinance 75% of ARV (3-6 months) or 80% of ARV (6+ months)

✅ Properties Up to 10 Acres

🚀Use the Actual or Projected STR Income (@airdna ) of the property to qualify.

- We can accept projections from our partners over at AirDNA via our Short Term Rental Revenue Calculator which pulls data directly from AirDNA's Real Time Data

Request a quote in as fast as 60 seconds: Short Term Rental Loan Quote

Or

Visit Our Website For More Information

Hey Christian! We do cash-out refis on this exact scenario everyday. Just sent you a DM and add request. Let's discuss.

If you are having trouble qualifying for convention with your current W2 income or job status/W2 track record then DSCR loans is a great option. With DSCR loans we can qualify you with the properties income rather than W2 income. DSCR loans is our bread and butter so if you need any help with a quote feel free to reach out or check out our website.

✅ Fast & Easy Qualification

✅ Qualify With:
1. Actual or Projected STR Income (AirDNA/Rabbu)
2. Credit Score
3. Liquidity (When Needed)

🚫No W2's, Tax Returns, or personal Debt-to-Income Ratio required.

✅ Up 80% LTV on Purchase

✅Cash Out Refinance 70% of ARV (3-6 months) or 75% of ARV (6+ months)

✅Rate & Term Refinance 75% of ARV (3-6 months) or 80% of ARV (6+ months)

✅ Properties Up to 10 Acres

🚀Use the Actual or Projected STR Income (@airdna ) of the property to qualify.

- We can accept projections from our partners over at AirDNA via our Short Term Rental Revenue Calculator which pulls data directly from AirDNA's Real Time Data

Request a quote in as fast as 60 seconds: Short Term Rental Loan Quote

Or

Visit Our Website For More Information

@Robin Panzera feel free to reach out. My company Host Financial started in 2018 as the first lender to focus soley on STR investors.

What makes Us Unique:

• Host Financial Gets STRs: We can qualify loans using STR income projections from AirDNA and Rabbu or use existing STR income history, not just market rents like most DSCR lenders that claim they can do STRs.
• One Stop Shop For STR DSCR Financing: In our current dynamic market environment, rates and even qualification guidelines changes daily. With access to multiple capital partners we will price the entire market ensuring you get the best rates and terms available.
  • - Should rates changes mid process we can quickly switch capital partners to get a lower rate
  • - Should guidelines change mid process you won’t be stuck with a lender that has one set of guidelines which could kill your deal and put you back to shopping the market. This ensures we have the highest chance of closing on deal where others can’t.
• We are the experts in STR financing: 95% of our deals are for Short Term Rental Investment Properties. Working with us insures you know you’re working with a lender that gets it and can get the deal done. We’ve seen and done it all.
• Comprehensive Income Assessment: We prioritize finding the most advantageous financing options for your investment, which for DSCR Loans means looking at all potential property income numbers: Market Rents, STR Income History, or STR Income projections to see what qualifies you for the best rates and terms.
• Most coverage: We lend in 48 states nationwide - (Ohio included)

 @Sarah Kensinger appreciate the recommendation! @Karin Leung if you have any questions on DSCR loans for STRs feel free to reach out.

 Thanks for the recommendation @Sarah Kensinger!  @Mike Wilcher Jr if you have any questions on DSCR loans for STRs, feel free to reach out. Happy to answer any questions you might have.

If you're being limited by DTI on buying power, the best way to increase that limit is remove being tied to DTI as a qualifying factor. As mentioned a few times in this thread, DSCR loan could be the best option for you as the property will be underwritten based on the income of the property rather than you own with no consideration for DTI. Just DSCR (property income/property expenses), FICO score, and liquidity (in which case we may look at your bank statement balances, retirement funds, etc.

Also, if considering DSCR loans make sure to look for lenders like us that can qualify using STR income projections (AirDNA/Rabbu) as those numbers will be higher than what would come back on an appraisal report market rent survey (most DSCR lenders use market rents so be careful for lenders that say they can do STRs but resort to market rents for underwriting).

As Robin mentioned, since the FED hikes have shaken up the mortgage industry, a lot of conventional lenders have shifted to offering DSCR loans as investors are still doing deals while primary home buyers sit on the sidelines for rates to come down. Likely due to concern for compliance and a lack of understanding of thr DSCR process and requirement they're probably asking of this information "just in case" when in reality, personal information beyond SSN for credit and back ground check, bank statements for liquidity verification, and a schedule of REO for experience (when required) should be about as far into your personal life they get.

Welcome Adam! Congrats on the first post. I am the co-founder of Host Financial, a lender for STR & LTR investment properties, sending you a request to connect to add value to your team and assist you with any questions you might have while navigating the waters for your first investment property. Excited for you two!