Airbnb No Tax Return Florida Mortgage Lenders Using Rent Rolls For Income!
Florida Mortgage Lenders Purchase/Refinance Use 75% Of Lease Agreements Income!
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No Income Verification Florida Investor Loans
Owning an Airbnb space has become increasingly popular in Florida. As owners become travelers and investors they seek to purchase and refinancing options to free up the cash needed to buy more Florida Airbnb properties. But if you have a savvy accountant that takes advantage of all IRS deductions, then you may NOT qualify for the next Airbnb or short-term rental deal that comes for sale. Our Florida mortgage lenders allow you to purchase or refinance AirBNB short terms rentals using the lease agreements for income.
No Income Verification Florida Investor Loans
Our No Income Verification Florida Investor DSCR Lenders, No Ratio Lenders allow Florida investors to qualify based on their rental income. No personal income or Tax returns are needed to qualify. The lender uses the current rent schedule if available or will order a 1007 rental comparable appraisal. This saves you from submitting complicated income statements and tax returns.US Mortgage Lenders LLC offers Alternative Options for Florida Real Estate Investors.
SHORT-TERM LEASE INCOME CALCULATION:
● Average 12 to 24 months deposits. Take 75% of the total income, Then Subtract – Taxes, Subtract – Insurance – HOA = Total income used for mortgage qualifying! NO Tax Returns are Needed to Qualify!
● SFRs, Condos, (Warrantable & Non-Warrantable), PUDs, 2-4 units, Townhomes
● No below-average properties
● Minimum $50,000 equity required
LOAN TERMS:
● 5 ARM or 30-Year Fixed
● 10 Year/40 Year Term IO
● All loans require impounds for tax and insurance
AIRBNB SHORT-TERM LEASE LOAN AMOUNTS:
● $100,000—$3,000,000
HOUSING HISTORY/CREDIT EVENT SEASONING:
● Housing history—0x30. For housing delinquency, see pricing adjustments.
● Bankruptcy/Foreclosure—2-year seasoning. For less than 2 years, see
pricing adjustments.
● Short Sale/Deed-in-Lieu/Modification—2-year seasoning. For less than 2
years, see pricing adjustments.
● Forbearance <1 Year—See Loan Program Description
INCOME/DTI:
● Max of 50% DTI, 55% allowed with LTV up to 80%, $4,000 disposable and 0x30
mortgage
● Residual Income—$1,500 per household plus $500 1st child, $250 thereafter.
Child maximum $1,500.
LISTED PROPERTIES:
● For Refinance transactions properties must be off the market for 6 months
PAYMENT SHOCK:
● Maximum 500%.
TAX LIENS AND JUDGMENTS:
● All tax liens and judgments must be paid at closing.
COLLECTION/CHARGE-OFF ACCOUNTS:
● Collections and charge-offs need to be paid off except:
– Medical Collections.
– Collection accounts older than 2 years.
CREDIT SCORE/TRADELINE REQUIREMENTS:
● 3 trade lines reporting for ≥ 12 months; or 2 trade lines reporting for ≥ 24 months with activity
in the past 12 months. For borrowers without a housing history, one of the tradelines must be
at least $5000 high credit/limit .
● Credit Score The middle score of the primary wage-earner is used for pricing and LTV
purposes.
INCOME DOCUMENTATION:
● Lease agreements in lieu of Tax Return, w2, and paystubs treated as ALT Doc.
ASSETS / RESERVES:
● <75% LTV—None Required; >75% LTV—6 mos.; Loan Amount >$2M—12 Mos.
● Cash-out may be used to satisfy reserve requirements.
● Gift funds are allowed:
>80% LTV Borrower must contribute 5% own funds;
≤80% LTV 100% of down payment and closing costs may come from gift funds.
Note: Gift funds may not be used to satisfy reserves requirements
OCCUPANCY:
● Owner Occupied and 2nd Home, Short term, Airbnb.
● First-time Homebuyers allowed, see program guidelines
LENDER CREDIT:
● Short-term mortgage lenders will allow the application of Lender Credit to be used for recurring and nonrecurring closing costs.
● Any overages will be applied to principal reduction.
● Lender Credit can be used on Lender Paid and Borrower Paid Loans
● Lender Credit cannot be used to pay broker compensation.
2ND APPRAISAL:
● Purchase and Rate & Term Rei: 2nd Appraisal Required for loan amounts >$2M
● Cash-out Rei: 2nd Appraisal Required for loan amounts > $1.5M
● We work with over 100+ Lenders. Contact the US For Updates. Mortgage programs change rapidly. This information is NOT to be relied on.
WHAT IS A SHORT-TERM RENTAL AIRBNB LOAN?
Airbnb is a short-term rental property website that markets rental homes for short-term lease. Short-term rental homeowners get to manage and market how much to charge visitors per night and allow short-term Florida rental bookings and income collection on their online portal. It’s free to list a property on Airbnb properties and the fees are added during and after the leasing process.
An “Airbnb mortgage loan” refers to any type of financing that can be used by an investor to buy a short-term Florida property rental for use as an Airbnb. There isn’t such a thing as a loan specifically for Airbnb use, but we offer alternate Alt document financing options for Florida short-term rentals.
Remember that most Florida banks will require 2 years of tax returns and only allow you to use the adjusted gross income to qualify. When trying to mortgage refinance or purchase for short-term Airbnb rental property with no tax returns work differently than a typical FannieMae investor loan quaifying. In addition, a larger down payment and reserve requirements will be required to secure the financing, usually, a minimum of 15% downpayment is required.
Full Doc Short Term FannieMae Rental Income Qualifications
Documenting Florida Mortgage Lenders Rental Income
The Florida mortgage lender must obtain documentation that is used to calculate the monthly rental income for qualifying purposes. The documentation may vary depending on whether the borrower has a history of renting the property, and whether the prior year’s tax return includes the income.
This topic provides full doc mortgage lenders qualifying, rental income, including:
- General Requirements for Documenting Rental Income
- Documenting Rental Income from Subject Property
- Associated Policies
- Eligible Properties
- Ineligible Properties
- Documenting Rental Income from Property Other Than the Subject Property
- Reconciling Partial or No Rental History on Tax Returns
- Calculating Monthly Qualifying Rental Income (or Loss)
- Treatment of the Income (or Loss)
- Offsetting Monthly Obligations for Rental Property Reported through a Partnership or an S Corporation
- Rental Income Calculation Worksheets
- Reporting of Gross Monthly Rent
Florida DSCR No Tax Return Investor Coverage Areas
Jacksonville
Miami
Tampa
Orlando
St. Petersburg
Port St. Lucie
Tallahassee
Cape Coral
Fort Lauderdale
Trinity
Panama City Beach
Fernandina Beach
Wilton Manors
Middleburg
Goldenrod
Gulfport
Viera East
Naranja
Holly Hill
Orange City
Minneola
Lake City
Laurel
Shady Hills
Port Salerno
Cheval
Fuller Heights
South Miami and Lantana
Westview
Florida City
Cocoa Beach
Mango
Lakeland Highlands
Pine Castle
Highland City
Medulla
Pasadena Hills
Hudson
Lighthouse Point
Goulds
Pebble Creek
Westwood Lakes
Celebration
Doctor Phillips
Satellite Beach
On Top of the World
Asbury Lake
Union Park
Memphis
New Port Richey East
Gateway
Avon Park
West Vero Corridor
Sebring
Sugarmill Woods
Cape Canaveral
Pembroke Pines
Hollywood
Miramar
Gainesville
Coral Springs
Lehigh Acres
Clearwater
Brandon
Palm Bay
Spring Hill
Pompano Beach
West Palm Beach
Miami Gardens
Lakeland
Davie
Boca Raton
Jacksonville FL
Miami FL
Riverview
Sunrise
Plantation
Deltona
Alafaya
Town ‘n’ Country
Miami Beach
Palm Coast
Largo
Fort Myers
Melbourne
The Villages
Pine Hills
Deerfield Beach
Boynton Beach
Kendall
Kissimmee
Lauderhill
Weston
Homestead
Delray Beach
North Port
Daytona Beach
Poinciana
Tamarac
Jupiter
Wellington
Port Charlotte
Port Orange
The Hammocks
North Miami
Doral
Palm Harbor
Coconut Creek
Wesley Chapel
Sanford
Ocala
Fountainebleau
Margate
Sarasota
Bonita Springs
Bradenton
Palm Beach Gardens
Tamiami
Kendale Lakes
Westchester
Pinellas Park
St. Cloud
Pensacola
Apopka
Country Club
Coral Gables
University CDP
Ocoee
Titusville
Horizon West
Four Corners
Fort Pierce
Oakland Park
Winter Garden
North Lauderdale
Altamonte Springs
Cutler Bay
Ormond Beach
Winter Haven
North Miami Beach
North Fort Myers
Greenacres
Oviedo
Valrico
The Acreage
Hallandale Beach
Royal Palm Beach
Plant City
Meadow Woods
Land O’ Lakes
Lake Worth Beach
Kendall West
Egypt Lake-Leto
Navarre
Aventura
Richmond West
Winter Springs
Clermont
University
Dunedin
Lauderdale Lakes
Panama City
Cooper City
South Miami Heights
Princeton
Carrollwood
Buenaventura Lakes
Riviera Beach
Merritt Island
Golden Glades
DeLand
Estero
Fruit Cove
Parkland
East Lake
West Little River
Lake Magdalene
Dania Beach
Ferry Pass
Lakeside
Miami Lakes
Winter Park
Fleming Island
Golden Gate
East Lake-Orient Park
Vero Beach South
Casselberry
Oakleaf Plantation
Immokalee
Rockledge
Citrus Park
New Smyrna Beach
Temple Terrace
Leisure City
Bayonet Point
Lakewood Ranch
Sun City Center
Ruskin
Sebastian
Coral Terrace
Tarpon Springs
Keystone
Haines City
Palm Springs
Bloomingdale
Palm City
Silver Springs Shores
South Bradenton
Ives Estates
Crestview
Wright
Northdale
Palm River-Clair Mel
Key West
Palmetto Bay
Wekiwa Springs
Port St. John
Edgewater
Oak Ridge
Venice
Jacksonville Beach
Fish Hawk
Hialeah Gardens
Apollo Beach
West Melbourne
Westchase
Leesburg
The Crossings
Lutz
Jasmine Estates
West Pensacola
Fort Walton Beach
Pace
Sunny Isles Beach
Brent
Naples
Lealman
Ensley
Bellview
Florida Ridge
DeBary
Eustis
Holiday
Liberty Triangle
Lynn Haven
Sweetwater
Palm Valley
Bayshore Gardens
Cocoa
Punta Gorda
Hunters Creek
Belle Glade
Bartow
Englewood
Midway CDP
Bradfordville
Pinecrest
Marion Oaks
World Golf Village
Seminole
Country Walk
San Carlos Park
Upper Grand Lagoon
Gibsonton
Marco Island
Safety Harbor
Maitland
Lake Butler CDP
Glenvar Heights
Brownsville
Tavares
Vero Beach
Myrtle Grove
Pinewood
Lake Mary
Ojus
Nocatee
South Venice
New Port Richey
Lake Wales
Palmetto Estates
Stuart
Southchase
Auburndale
Zephyrhills
Opa-locka
Warrington
Lady Lake
Niceville
Longwood
Azalea Park
Three Lakes
Bellair-Meadowbrook Terrace
Groveland
St. Augustine
West Park
Lockhart
Sunset
Oldsmar
Hobe Sound
Callaway
Homosassa Springs
Thonotosassa
Destin
Villas
East Milton
West Lealman
Olympia Heights
Gonzalez
Lakewood Park
Viera West
Mount Dora
Fruitville
Miami Springs
Atlantic Beach
Palmer Ranch
Palmetto
Jensen Beach and Forest City
Iona
Gladeview
Yulee
Conway
South Daytona
North Palm Beach
Sarasota Springs
Jupiter Farms
Elfers
Key Biscayne
Cypress Lake
