AirBnB STR REFINANCING OPTIONS?

[David VanWert]

Purchased an STR in Sept 2019 in California. Was financed as an investment property so interest is fairly high at 5.75% given the current low rates looking to see if there are other options (if any) to take advantage of these lower rates. Not sure if there are lenders that take the income into account for STR's at all.

Would love to hear if anyone has successfully re-fi'd their STR's thanks for your input!!

[Luke Carl]

Meh I’d probably keep the 5.75 and stop over thinking. It’ll cost you what 5-6k to refi and save what $50 a month? If you focus your energy on growing the business and adding more properties you’ll be rolling your portfolio into new financing options before you know it anyway. 

But to answer your actual question.... if DTI is an issue.... any lender can use projected rent on this and any investment property regardless of STR or LTR. You're going to get projected long term rent either way though. Just call 3-4 lenders, run your credit, and see which one has the best closing costs! :)