It is true that the process of buying a residential home and an Airbnb rental property is a little different. First and foremost, it is always good for local communities when the residents are also homeowners. Therefore, the government backs various loan programs that help people interested in becoming homeowners to qualify for mortgages.
These programs tend to be a little more forgiving when applicants have lower credit scores, bigger debt-to-income ratios, and even lower incomes. Anyone interested in buying an Airbnb investment property is going to be measured by a different yardstick. The good news is that there isn’t any specific ‘special’ mortgage that has to be used for the purchase of Airbnb properties.…Continue reading