Short-term / Vacation Rental Loans
Financing for AirBnBs and other Short-term rentals
With the rapid growth of AirBnB, VRBO, and other short-term rental (STR) platforms, vacation rentals can be extremely lucrative. Green Block’s Vacation Rental Loans help investors purchase, refinance, or cash-out on their short-term rentals. These 30-year DSCR rental loans are based on the income produced by your the property* rather than your personal Debt-to-Income, and provide the funds you need to capitalize on this new rental opportunity.
Short-term/Vacation Rental Loan Details
|Loan Types||Purchase, Refinance, or Cash-out.|
|Property Types||Non-owner occupied 1-4 units, condos, townhomes. Single room STR not permitted.|
|Loan to Value (LTV)**||Purchase: Lesser of up to 70% of the as-is value or up to 70% Loan-to-Cost (LTC)
Refinance: Up to 70% of the As-Is Value
Cash-out: Up to 65% of the as-is value
|Amortization||Fully amortized, fixed rate
5, 7, 10-year Interest-Only Options available
|Prepayment Penalty||0 – 5 year step-down options available|
|Rates||Starting at 6.75%|
|Cashflow Determination*||Long-term market rent based on appraisal|
|Property Condition||No rehab needed|
|Loan Amount||$50,000 to $2 million|
|Minimum Property Value||$100,000|
|Borrower Type||US-based business entities. Foreign National guarantors permitted.|
* DSCR calculation and underwriting is based on market rent.
** Max LTV based on factors such FICO, experience, property type.
Rental Portfolio Loan Application Process
Our loan process is simple – designed to help you close quickly and seamlessly. We know that time is money and our team’s goal is to help you move fast.