An Overview of Visio’s Vacation Rental Loan Program

Posted by Hannah Lapin on Apr 18, 2019 9:00:00 AM

Visio Vacation Loan Program

At Visio Lending, we take pride in on our ability to make sense of underwriting short-term rents to help investors across the country grow their vacation rental portfolios. Our vacation loans, like all our loan programs, are DSCR-based, meaning we focus on property cash-flow rather than personal income. We have a very innovative program to help investors thrive. Here are some of the key details on our Vacation Rental Loan Program structure and general requirements:

Loan Structure

Loan Purpose- Purchase, Rate & Term Refinance, Cash-Out Refinance

Loan Type- Single Asset or Portfolio

Rate Structure- 5/1 ARM, 7/1 ARM, 30-Fixed

Loan Amount- $75,000- $2 Million (call for hire amounts)

Loan-to-Value (LTV)- 80% Purchases and Rate & Term Refinances, 70% Cash-Out Refinances

Minimum Property Value- $125k (higher minimums in certain areas, see our FAQ Page for more details)

Geography- Nationwide, except for Alaska, Delaware, Idaho, Minnesota, Nebraska, Nevada, North Dakota, Oregon, Rhode Island, South Dakota, Utah and Vermont. See our Where We Lend Page for a full list of states we lend in and some of our recently closed loans

General Requirements

Property Type- Vacation Rentals that are 1-4 Unit Single Family Residential, Condos, or Townhomes

Valuation Type- As is Appraisal with Actual Rent Value or Expected Rents for Gross Vacation Rental Income

Borrower Type- Investor Only, Individuals LLCs, corporations and limited partnerships. U.S. Citizens, permanent and non-permanent resident aliens.

FICO Score- Minimum 680

Reserves- Minimum 6 Months PITIA (Principal, Interest, Taxes, Insurance, Association Dues)

Looking to grow your vacation rental portfolio? Contact us to get started. For more information on our loan programs, see our Loan Program Page. For tips on vacation rental property management, see our Vacation Rental Resources Page.

Contact Us to Grow Your Rental Portfolio

Editor's Note: This post was originally published in April 2019 and has been updated in December 2020 for freshness and accuracy. 

 

Related: Winter 2018 Vacation Rental Closed Loans, Financing Challenges for Vacation or Short-Term Rentals

Topics: Real Estate Investing, Vacation Rentals, The Visio Box

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The information in this blog has been prepared solely for informational purposes. The contents are based upon or derived form information generally believed to be reliable although Visio accepts no liability with regard to the user's reliance on it. For legal advice, please contact your counsel.

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Visio Lending is the nation's premier lender for buy and hold investors offering, long-term loans for SFR rental properties, including vacation rentals.

 

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