“Mortgages on Properties being Rented Weekly”

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Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“Mortgages on Properties being Rented Weekly”

 

Hi Joe,

I am in the process of buying a beach property that will be used as a weekly vacation rental. The owner of the property told me that you got him the mortgage when he purchased 4 years ago. He told me that you got him the mortgage and for exactly the same use.

I have been to a number of banks and none of them would do a mortgage when the property is rented weekly. Can you get me this kind of mortgage as well?

 

Yes, we can do mortgages on properties being rented weekly, through AirBNB, HomeAway and VRBO. Revenues from Weekly rentals is becoming more mainstream each and every years. We are fortunate to have a couple of lenders that do them.

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comments (4)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Joe. Bingo! The power of multiple sources and knowing how to use them to the rescue. Enjoy your day.

Oct 18, 2021 04:58 AM
Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Great advise Joe, so many go in with a STR in mind.  Now a financing option.  Great marketing for sure.  Bill 

Oct 18, 2021 05:39 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Great to know Joe Petrowsky , I had never considered this when thinking about getting back into investment properties.

Oct 18, 2021 07:34 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Joe - good to know.  Sometimes a property owner can be a valuable source of information about things beyond "the kitchen sink".  

Oct 18, 2021 08:38 AM