In the realm of investment properties, the traditional requirement for a comparable rent schedule on form 1007 has been a longstanding practice. However, a common roadblock arises when an appraiser declines to utilize short-term rental comparable on the 1007 form. This obstacle has historically left borrowers with limited options to move forward with their investment plans.
Fortunately, a solution has emerged to address this challenge. DSCRmortgage.com now offers a groundbreaking approach by allowing the utilization of short-term rental income data sourced from AirDNA. This innovative solution meets all specified requirements, offering borrowers a viable alternative to the conventional 1007 appraisal process.
- Loans up to $3 million
- Credit scores starting at 700
- Up to 75% LTV
- No personal income or employment information required
- No limitations on the total number of investor loans
- Non-warrantable condos allowed
By embracing this new methodology, borrowers can navigate the complexities of investment property financing with greater flexibility and efficiency. The integration of AirDNA’s short-term rental income data opens up new possibilities for investors, enabling them to leverage valuable insights and data-driven decision-making in their investment strategies.
This forward-thinking approach not only streamlines the investment process but also empowers borrowers to make informed choices based on comprehensive and accurate data. With DSCRmortgage.com’s commitment to innovation and adaptability, borrowers can confidently pursue their investment goals with a renewed sense of confidence and assurance.
Contact us for all your DSCR questions, we have the answers.
