The Best Loans for Vacation Rentals (10% Down!)

Does that second home/vacation home mortgage require you to own your primary residence? As in my primary residence is a rental.

how does one qualify for this loan ?

Can you put your vacation rental property under an LLC?

Great vid

Congrats! Ashley

Congrats! Tony

Well on my way. Thanks for the Knowledge and understandng. Blessings!

Just an FYI tony is recommending mortgage fraud. Yes 10% on 2nd home but if it’s for an air bnb that’s not a vacation home it’s an investment property

FF to 7 min mark before they get to the question, you're welcome.

What is income requirement for vacation home loan?

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As someone who owns an A-frame house in a snowy mountainous region.. I totally understand your difficult situation! 😂 mad props in overcoming that challenge. We want to turn our home into a short term rental as well.. just need a few updates on the place (ours is around 800sqft) and a secondary place to stay in the mean time! 😅 We live in the front range of CO. Congrats on finally closing! 💫

Bills?

I didn’t know about this 🤯 Do you have to own a primary residence 1st before purchasing the vacation home using the vacation home loan? Primary residences inventory in my city is abysmal but I still want to buy a separate investment property but I don’t want to have to put down 20-25% since I want to keep as much as possible set aside for the down payment on my primary residence.

Great video! If you use a vacation or second home loan, can you still put that property into an LLC?

How the did you get stuck if the seller agent paid 1000 to have it towed

You can actually by more than 1 second home for just 10% down and rent these properties out?

Any lender recommendations? Spoke to over 15 different lenders and they say it is not possible, it is mortgage fraud, you cannot rent it, or you have to be at the property for 4 months.

Who are these banks that do these types of loans ? Is there a website that lists them because EVERYONE I’ve spoken to in a year of looking has come back with 25+ % down. But I keep hearing but I’ll be hawking one if these loans because if I can get 10% down I can workout picking up my beach vacation home. And I’d that kept in your personal name or your business name to be held?
Thanks guys 🙌🏾.

If you don’t have a first home then it will be 3%-3.5%, if it’s 30-50 miles away from you than you can rent it at least 6 months in a year aka short term rental so it’s not mortgage fraud.
I want my rental to be 15-20 miles away from me for maintenance.

Please i have this question regarding second home loans/vacation home. What if you are currently renting and this is your first home you are buying but intend to use it for Airbnb. Do you still need the vacation home loan or you use a regular first time home owners loan? Thanks

awesome

where can I submit my questions ?

Can you get down payment assistance on this kind of loan?

Ashley it sounds like you don’t need to buy that property. Seems like a bad omen.