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.

 

Airbnb Loans

 

 

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 $5 million – with no personal income verification or experience needed.

 

Vacation Rental Loans

 

*Qualifying rental income is a critical process for Vacation Rental Loans. If you try to make a traditional DSCR/Long-Term Rental Loan work for a Short-Term Vacation Rental Property, it will likely not qualify or meet minimum DSRC requirements. We use real-time data from AirDNA, Airbnb and VRBO to qualify the rental income to secure the maximum LTV desired.

 
 

Next Airbnb Loans
 

 

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 $75K to $5 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 $5 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 6.75%

Down Payment Financing Available

Amortization:  30 Years – All loans are amortized over 30 years – even 5 & 7 Year ARM products

Minimum Property Value:  $100K to $5 Million

Property Types:  Single-family detached, 1-4 unit residences, townhouse, warrantable & unwarrantable condos.

 

Request Information Investor Loans

 

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 6.89%. 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 $5M.

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!