Short-term rental loans have recently become more accessible for borrowers interested in renting their investment homes on platforms such as AirBnB or VRBO. Until recently, lenders were hesitant to finance these types of properties due to their perceived risk. Blink Lending & Investments, however, has taken up the challenge to provide financing solutions for these rental properties with their Short-Term Rental (STR) products.
Like their DSCR loans, Blink Lending & Investments’ short-term rental loans do not require tax returns or personal income to qualify for financing. Instead, these loans are approved based on projected future rents created with the help of AirDNA, a data analytics company that provides insights into vacation rental homes. In addition, the last 12 months’ rental income from sources such as VRBO or AirBnB can be used to approve a STR loan.
If you are looking to purchase a rental property and do not have 12 months’ rental income already, Blink Lending & Investments can still qualify you for financing by relying on the appraiser’s opinion of rent on appraisal form 1007. Additionally, Blink Lending & Investments can average income from the AirDNA website, streamlining the qualification process without requiring any proof of personal income.
Blink Lending & Investments’ loan parameters include up to 80% LTV financing on a purchase, loans starting at 640 Fico, loan terms including 30 and 40 years, and interest-only options. Furthermore, these loans are available for 1-4 family homes, making them a versatile financing solution for homeowners.
Borrowers interested in financing their short-term rental properties can visit blinklending.com to apply for Blink Lending & Investments’ Short-Term Rental (STR) loan products. Additionally, if you have any questions, you can schedule an appointment on blinklending.com. Don’t let financing hold you back from profiting off your short-term rental investment property- apply today!
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