Vacation Rental Loans
Our Vacation Rental Loans provide our clients with a reliable source of financing through a simple and efficient online loan process. Our Vacation Rental Loans were designed to help savvy investors capitalize on the rapidly growing short-term/Airbnb rental niche.
Next-Financing Vacation Rental Loans
Qualified by AirDNA
We provide Vacation Rental Loans with attractive rates and up to 80% loan-to-value (LTV) on fixed-rate loans or ARMs. Our Vacation Rental Loans are a great way to grow your portfolio or get cash out from your existing rental properties. Approval amounts range from $100K to $10 million – with no personal income verification or experience needed.
Click On The “Let’s Get Started” Button Below & Get Pre-Approved Today!
Get Cash From Your Existing Rental Portfolio
Next-Financing’s Cash-Out Refinance can provide the cash you need to grow your rental portfolio.
Benefits include:
- Get cash from rental properties – loans from $100K to $10 million.
- Lower your blended rate – consolidate higher-rate loans into single rental loans – long or short term.
- No personal income verification – lending decision based on property cash flow, personal credit & experience.
- No hurdles – flexible loan options designed for your buy and hold strategy.
Advantages of Next-Financing Vacation Rental Loans
- Cash-Out Refi or Rate & Term – 30 Year Fixed or 5, 7 or 10 Year ARM
- Non-QM – No Doc – No Personal Income Verification – No W-2 Required
- 640 minimum credit score (no minimum credit score needed for cash-out refinance)
- No hurdles- a very user-friendly and streamlined process
- Foreign Nationals & Permanent Alien Status Permitted
Vacation Rental Loans – Overview
Purpose: Acquisition, Cash-Out or Rate & Term Refinancing
No Experienced Required
Total Loan Amount: Starting at $100K to $10 Million
Rate Type: 30 Year Fixed and 5 or 7 Year ARM Interest-Only Options
Available ARM Terms: 5 0r 7 Years (30 year amortized loans with the first 5 or 7 years being interst-only). These are great cash-flow products.
LTV: Up to 80% & Rates as low as 8.29%
Down Payment Financing Available
Amortization: 30 Years – All loans are amortized over 30 years – even 5 & 7 Year ARM products
Minimum Property Value: $120K
Property Types: Single-family detached, 1-4 unit residences, townhouse, warrantable & unwarrantable condos.
Vacation Rental Loans – FAQ’s
Q: What type of Vacation Rental Loan Rates are offered by Next-Financing?
A: Next-Financing offers fixed a 30-year rate starting at 8.29%. All rates are based on the property’s location, rental income and borrower’s credit & experience level.
Q: What type of properties are eligible for Vacation Rental Loans?
A: The following property types are eligible for Vaation Rental Loans:
- Single Family Residence (SFR)
- 1-4 Unit Properties
- PUDs
- Warrantable & Un-Warrantable Condos
- Townhouses
- Multi-Family Properties are eligible, but will be reviewed with different underwriting principles
Q: What are the minimum and maximum loan amounts for Vacation Rental Loans offered by Next-Financing?
A: Next-Financing Vacation Rental Loans have a minimum loan amount of $100K and a maximum loan amount up to $10M.
Q: What States does Next-Financing offer Vacation Rental Loans?
A: Next-Financing provides Rental Loans in all States except Alaska, North Dakota & South Dakota.
Q: What is the minimum FICO Score for Vacation Rental Loans?
A: Next-Financing’s Rental Loan FICO score minimum is 640. Tri-merged credit report is required for all personal guarantors of the originated rental loan. There is no minimum credit score required for a cash-out refinance.
Q: What type of documentation is required for Vacation Rental Loans?
A: Next-Financing requires the following documentation from borrowers interested in our rental loans:
- Next-Financing Vacation Rental Loan Application
- 2 Most Recent Bank Statements – Show Ability to Fund Transaction
- A list of properties you currently own (a REO Schedule) – Track Record Spreadsheet
- No Tax Returns Required
- Rental Lease(s) – (if property is currently rented)
- Purchase Contract/Agreement – if this transaction is a new purchase
- LLC Operating Agreement and Articles of Corporations
- Driver’s License
- Rental History or AirDNA Comps to Support the Desired Loan Amount
Other documents and/or materials may be requested based on the individual borrower’s circumstances.
Q: Who is eligible for our Vacation Rental Loans?
A: Our rental loans are available to the following borrowers:
- U.S. Citizens
- Permanent Resident Aliens
- Non-permanent Resident Aliens
- Foreign Nationals
- LLCs, Limited Partnerships, General Partnerships, Corporations and Individuals
Q: Does my Vacation Rental Property have to be leased before closing?
A: No, but it can improve your approval rate & term.
Q: Can I live in one of my Vacation Rental Properties?
A: No. Next-Financing provides commercial only loans that are non-owner occupied (investment) properties.
Q: Is there a Prepayment Penalty?
A: Yes & No. Some of our rental loan products have prepay penalties, while others do not.
Click On The “Let’s Get Started” Button Below & Get Pre-Approved Today!