"We are proud to be working with Airbnb and Fannie Mae to make it easier for Airbnb hosts to reinvest in their most important economic asset, their home. Better can now digitally underwrite Airbnb income and offer hosts better home financing options than previously possible," Better Mortgage CEO Vishal Garg says.
Homeowners soon will be able to count income they earn from Airbnb Inc. rentals on applications for refinance loans.. Lenders to allow Airbnb income on mortgage forms. expected to be.
· For those who don’t know already, Airbnb is a website where you can rent out one or more rooms in your home, condo or apartment for a nightly, weekly or monthly fee. But with some homeowners earning upwards of $20,000/year on rental income, Airbnb raises a multitude of thorny legal issues in Massachusetts, including whether an innkeeper or.
Using your house as an ATM just got a little easier. In partnership with lenders quicken loans, Citizens Bank, and Better Mortgage, homeowners can now count income from renting their properties on Airbnb when refinancing a mortgage. The initiative also has government backing, as Fannie Mae, the mortgage facilitator that’s still under government conservatorship, is also part of the venture.
· Using Airbnb Hosting To Pay Off Your Mortgage Early. According to Ortiz, who hosts an Airbnb out of his home in Houston, his property brings in anywhere from $1,100 to $2,000 a month, depending on the season.
· Choose one of the growing number of niche short-term rental loans to buy your Airbnb; In addition, Fannie Mae allows you to use Airbnb income to qualify for a home refinance.
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