New to Real Estate · Member since 2022 · 6 posts · 1 vote
We are planning to purchase our first str to list on AirBNB in NC. We want to finance it with a Vacation (aka second home) mortgage with 10% down and better rates. It's common, but we found many lenders don't know about it or might say they can do it but haven't done so before. We are looking for a lender who has experience with this so they don't get shifty on us during underwriting. We meet the rules for location, intent to occupy it personally for a part of the time, etc. Any lenders based in NC or that lend in NC would be best.
Side note - we also plan to do the downpayment and renovation via a HELOC, bonus points if anyone knows of an NC lender that does both.
We are planning to purchase our first str to list on AirBNB in NC. We want to finance it with a Vacation (aka second home) mortgage with 10% down and better rates. It's common, but we found many lenders don't know about it or might say they can do it but haven't done so before. We are looking for a lender who has experience with this so they don't get shifty on us during underwriting. We meet the rules for location, intent to occupy it personally for a part of the time, etc. Any lenders based in NC or that lend in NC would be best.
Side note - we also plan to do the downpayment and renovation via a HELOC, bonus points if anyone knows of an NC lender that does both.
Thank you
Hey Stuart! I am closing a vacation home loan in Marshall, NC on Tuesday for a client :) I am a loan originator licensed in NC and specialize in second homes, investment homes and STR. I own several strs myself. Happy to help answer questions and/or provide a prequalification. Let me know how I can help!