Let’s say you want to buy a $600,000 home to use as a short term rental but your personal income or tax returns do not tell the full story.
This is where DSCR financing changes the game.
With DSCR, the loan is qualified based on rental income projections, including Airbnb and short term rental income, instead of your personal income.
And the best part? You can often close the loan in your LLC, put down as little as 20%, and skip the paperwork nightmare with no W2s, no tax returns, and no DTI calculations.
If the projected income covers the mortgage, you’re approved.
Want to know if a short term rental property qualifies for DSCR in your area?
Comment with the ZIP code below and I’ll send you a custom short term rental income analysis and DSCR eligibility review. I can also send a worksheet to help you analyze the deal.
Follow me for more investor tips. I’m Chris Graves and that’s your mortgage minute.
Call or text: 978 376 5389
Email: [email protected]
Website: chrisgravesmortgageexpert.com
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