An Airbnb loan refers to any type of financing that can be used by a real estate investor to buy a property for the purpose of using it as an Airbnb or short-term vacation rental. For these loans, a minimum 15% down payment is typically required to purchase an investment property. As a leading lender, we specialize in Airbnb mortgage loans and our staff is knowledgeable about the benefits as our CEO, Angelo Datseris owns multiple properties.
When looking to finance your Airbnb rental, you can get the cash needed for your down payment by using a home equity line of credit or cash-out refinance from your primary home. If your current mortgage loan is at a very low-interest rate, using a home equity line of credit (a second mortgage) is usually the preferred option to preserve your rate. We can assist in arranging the financing needed for a home equity line of credit (HELOC). The process is not long and the line of credit can usually be obtained for an amount up to 80% of the value of your current home. For example, if your primary home is worth $600,000 and you only owe $350,000, you can potentially qualify for a $130,000 equity line to assist in meeting your down payment needs. If a HELOC is not an option, you can also use your 401k, savings and any stocks/bonds to fund your downpayment.
Obtaining financing for an investment property usually requires the following:
Unique Benefits We Offer Our AirBNB and DSCR Clients:
For any borrower that is pre-approved by Leverage Lending for an investment property purchase, we will provide a detailed Home Value Report market and long-term rent analysis for the particular city in NC, SC or FL. And personal phone call with CEO Angelo Datseris to go over any questions about operating an investment property (15 minutes)
DAYS FROM NOW:
If you're interested in financing a second home, a short-term rental or Airbnb please click the link below to start your journey today!
