Short-term rental financing using asset-based loans

[Brad Piper]

I have a handful of long-term rentals, but I am hunting hard to get my first short-term rental. I am looking for a lender that will do an asset-based loan on a STR at an interest rate near/under 4%. I can put up to 30% down, but obviously as little down as possible would be ideal.

[Brad Piper]

Following up - I talked to Visio and they can offer about 4.625% with 70% LTV, and 4.875% with 75% LTV, and you can buy down about a quarter of a point, but they don't go lower than 4.5%. They are asset-based and have a DSCR of 1. I haven't heard from Host, but I imagine Visio's terms are about as good as it's gonna get for a STR loan unless I can find a private lender that is willing to do less.