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Updated over 2 years ago on . Most recent reply
STR financing based on cash flow
Does anyone have any tips on a lender or type of mortgage for a short-term rental that is based on cash flow instead of based on DTI and personal credit? I own my primary residence and still have a high balance on the mortgage. I have some $$ set aside for a down payment and want to buy my first rental property. Any advice??
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Robin Simon
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
Pro Member
#3 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
Yes - you are going to want to "DSCR" lender that specializes in short term rentals