The details
Second-home loans typically require 10 to 20% down, while short-term rental DSCR loans usually start around 20 to 25%.
Some Orlando-area communities have HOA rental restrictions that can disqualify a property from short-term rental financing, so verify before you offer.
Run it yourself
Related loan programs
Second Home Loans
A second home loan finances a vacation or part-time residence you occupy for some of the year, often with as little as 10% down on a conventional loan.
Short-Term Rental (Airbnb) DSCR Loans
A short-term rental DSCR loan qualifies a vacation rental on its nightly-rental income, using 12 months of booking history or a third-party projection such as AirDNA, instead of a long-term lease.
DSCR Loans
A DSCR loan is an investment-property mortgage that qualifies you on the property’s rental income divided by its monthly payment (the debt service coverage ratio).
More answers
- Is there such a thing as a free mortgage?
- Can you get an interest-free mortgage?
- What is a no-closing-cost mortgage?
- What is the difference between lender-paid and borrower-paid compensation?
- What does “lender-backed” mean on a mortgage?
- Mortgage broker or bank: which is better?
- How is DSCR calculated for a mortgage?
- What DSCR ratio do I need to qualify?