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Updated over 4 years ago on . Most recent reply

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48
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24
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Felicia Lucco
  • Rental Property Investor
  • Phillipsburg, NJ 08865
24
Votes |
48
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Qualifying for a STR mortgage

Felicia Lucco
  • Rental Property Investor
  • Phillipsburg, NJ 08865
Posted

Burning question... Is the rental income considered when qualifying for a vacation property loan?

I am looking to invest in one or more STRs. I have considerable savings, but my self-employment income is less than desirable. I have other means (a partner, good credit), but would really like to get at least one on my own.

I have a consult with a lender next month, in addition to STR boot camp, but I'm impatient.

Most Popular Reply

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469
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317
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Gerald Pitts
  • Lender
  • Asheville NC
317
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469
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Gerald Pitts
  • Lender
  • Asheville NC
Replied
Brenna Carles with The Mortgage Shop. I think they're registered in most states. I haven't done a DSCR loan with them yet, but it's 15% down  Brenna has done a ton of STR loans for Avery Carl/ Shower term Shop. 

Originally posted by @Kerry Baird:

@Gerald Pitts, do you have a DSCR lender you love? I have used a couple...and actually want one to close. :D

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