Updated almost 4 years ago on . Most recent reply
Buying a new private residence and converting current 1 to a STR
We are looking at our next home and plan to hold on to our current home, while turning it into a STR. My question is in regard to lending. Most lenders will not look at "potential" STR income on our home, as we are not currently generating any revenue with it. This is killing our debt-to-income and making it difficult to qualify for the loan proceeds we need.
Does anyone know of a lender who is open to financing on a situation like this?
Any help would be greatly appreciated!