We broker short-term rental loans through lenders who underwrite on the property's income, not your day job. Real terms back in about two business days, no credit pull to start.
Start on the wrong one and you lose a resubmission and a few weeks.
The usual answer for a property you intend to rent year round.
For a place you will use part of the year.
Not sure which one you are? A call sorts that out, free. Or make a free account
13 steps from your first quote to the recorded loan, across two boards: Quotes, then Deals. The app runs exactly these, and every step says whose move it is.
Whose moveYouonly you can do theseGoDoorthe numbers, the lender and the chasing
Your numbers in, our read of them out. No credit pull.
What a lender is prepared to do, in writing, and the rate you choose.
The documents, our review of them, then your file with the lender.
The lender verifies everything, approves with conditions, then checks it all once more.
Signed, funded, paid out and recorded.
An address, your credit band, and a rough figure for reserves. Ten minutes, once.
Terms in two business days. Appraisal takes a week to ten days. Contract to funded is about a month.
The appraiser's rent schedule comes in under projection. Fix it with more down or a lower price.
Documents, not underwriting. We chase the outstanding list so nothing sits.
Gross rents divided by PITIA: principal, interest, taxes, insurance and any HOA dues. On a refinance the rent side is usually the trailing 12 months of booking statements; on a purchase it is the appraiser's short-term rental analysis, which many lenders haircut for vacancy and management. Most programs want 1.00 to 1.25. Some will go below 1.00 in exchange for lower leverage and a higher rate.
Purchases typically top out at 75 to 80% LTV, cash-out refinances at 70 to 75%. Pricing moves on your FICO band, LTV, DSCR, loan size and the prepayment penalty you accept: a five-year step-down buys a lower rate than a three-year or none. Short-term rental programs often price a little above the long-term rental equivalent.
Second-home loans price best but assume you occupy the property, and you cannot qualify on its rental income, so a year-round STR is a poor fit. Conventional investment loans qualify on your debt-to-income and cap out at ten financed properties. DSCR qualifies on the property alone, closes in an LLC and has no property-count cap, which is why most operators past their second or third door end up there.
Plan on 6 to 12 months of PITIA in reserves per financed property, more on larger loans or a first investment property. Many STR programs also ask for hosting history or a professional manager; without either, some cut leverage by five to ten points rather than decline.
Yes to both, usually. DSCR loans routinely close in an entity, and each member with 20% or more ownership typically guarantees the loan and has credit pulled. Your entity documents (articles, operating agreement, EIN, good standing) are collected once in your profile and reused on later files.
Underwriting assumes the income is legal. Where a market caps permits or bars non-owner-occupied rentals, the lender will ask whether the permit transfers with the sale, and may underwrite to long-term rent if it does not. Confirm transferability before you are under contract; it is the most common reason an STR file falls back to long-term numbers.
No lender underwrites to a third-party projection, ours included. On a purchase the appraiser's rent schedule sets the number; on a refinance, your booking statements do. Our projection is for screening deals and for knowing roughly what the appraisal needs to show.
The research tools are free, and nothing is charged before you choose a lender. When you do, every fee is on the term sheet: origination and any discount points you buy down with, processing, and a flat $1,995 underwriting fee, whatever the lender charges behind it.
Partners pay us when a deal funds. You pay nothing, so we place you with the lender who fits, not the one paying the most this quarter.