STR / Airbnb Loans
Finance the property on what it earns per night — not per lease.
A strong short-term rental can gross 2–3× the long-term lease rent — but most lenders only count the lease. STR loans qualify you on projected ADR and occupancy or your actual Airbnb revenue, so the financing finally matches the business you’re actually running.
Free. No credit pull to get matched. STR-experienced loan officers only.
How STR lenders see the same property
Same house: 0.66 DSCR on lease rent (declined), 1.31 on STR revenue (approved). Illustrative example — model yours in the STR calculator.
How it works
Underwriting that understands nightly revenue
STR loans are DSCR-style, business-purpose loans where the “rent” in the ratio comes from short-term rental economics. For a stabilized property, lenders use your trailing 12 months of Airbnb or VRBO statements. For a purchase with no history, they accept market revenue projections — ADR × occupancy comps for your market and bedroom count, AirDNA-style — usually with a 10–20% conservative haircut.
That haircut matters when you model deals: a property projecting $64,500 a year may be underwritten at roughly $54,800. Build your offer around the underwritten number, not the listing screenshot, and you’ll never be surprised at the term sheet.
The other thing STR lenders underwrite is regulation. Permit regimes, zoning overlays, HOA bans, and night caps can change a market’s economics overnight, so lenders check that your property can legally operate — and so should you. Our market data flags regulation risk on every STR city we track.
First STR, no history
Buying into a vacation market on projections. Lenders accept market-based 12-month revenue forecasts in place of actuals.
Scaling operators
2+ listings with strong actuals. Your trailing-12 revenue unlocks the best LTV and pricing tiers — and cash-out refis to fund the next one.
LTR-to-STR converters
Repositioning a long-term rental as a short-term rental. Refinance on projected STR income once the permit pathway is confirmed.
Qualification
Typical 2026 STR financing requirements
STR guidelines vary more between lenders than standard DSCR — which is exactly why matching with an STR-experienced loan officer matters.
| Criterion | Typical guideline | Worth knowing |
|---|---|---|
| Revenue basis | Projected ADR × occupancy, or 12-mo history | AirDNA-style market projections accepted by many lenders for purchases. |
| Credit score | 660–680+ (best pricing at 740+) | STR programs usually run slightly stricter than long-term DSCR. |
| DSCR on STR income | 1.0–1.1+ | Some lenders haircut projected revenue 10–20% before computing the ratio. |
| Down payment | 20–30% | Vacation markets and condotels often cap at 70–75% LTV. |
| Income documents | No W2s or tax returns | Airbnb/VRBO statements or a market revenue projection do the qualifying. |
| Entity / vesting | LLC ok — and recommended | Business-purpose loan; most STR operators close in an entity. |
| Local regulation | Permit / zoning check | Lenders increasingly verify STRs are legal in the jurisdiction. Know your market's rules before you write the offer. |
| Property types | SFR, cabins, condos, 2–8 unit boutique | Rural and unique properties case-by-case; condotels at fewer lenders. |
Illustrative guidelines, not a commitment to lend. Final terms set by the lender after full underwriting.
Get matched
Talk to a lender who actually closes STR deals.
Plenty of loan officers say they “do Airbnb loans.” Far fewer know which lenders take AirDNA projections, how the revenue haircut works in your market, or which programs touch condotels. We match you with one who does — based on your state, market, and operating history.
- STR-experienced, state-licensed loan officers — typically matched within 48 hours
- Purchases on projections, refis and cash-outs on actuals
- Want the revenue math first? Run the STR calculator
FAQ
STR financing questions, answered straight
What is an STR loan?
An STR (short-term rental) loan is investment-property financing underwritten on the income a property earns as an Airbnb or VRBO — nightly rate times occupancy — rather than on your personal income or what the home would rent for on a 12-month lease. Structurally it's usually a DSCR-style, business-purpose loan: no W2s or tax returns, LLC vesting allowed, 30-year fixed and interest-only options.
How do lenders calculate income on a short-term rental?
Three common methods: (1) trailing 12-month actuals from Airbnb/VRBO statements or your property manager, (2) a market revenue projection — ADR × projected occupancy from a data provider such as AirDNA — for purchases with no operating history, or (3) the appraiser's long-term market rent as a floor. Many lenders apply a 10–20% haircut to projected revenue before computing DSCR, so a deal that pencils at 1.25 on raw projections may underwrite closer to 1.05.
Can I get an STR loan for a property with no rental history?
Yes. For purchases, most STR-friendly lenders accept market-based 12-month revenue projections (AirDNA-style comps for your specific market, bedroom count, and property type) in place of operating history. Expect slightly more conservative LTV or pricing than a property with two years of strong actuals, and have a realistic ramp-up budget — most new listings take 3–6 months to reach stabilized occupancy.
What are STR loan rates compared to regular DSCR loans?
STR programs typically price 0.25–0.75% above comparable long-term-rental DSCR loans, reflecting the more variable income. As an illustrative 2026 range with the 10-year Treasury near 4.2%, STR financing has generally quoted around 6.9%–8.5% depending on credit, LTV, DSCR, and prepay structure. Strong actuals (24 months of high occupancy) earn the best tiers.
How do local STR regulations affect my loan?
Materially. Lenders increasingly verify that short-term renting is legal at the subject property — checking zoning, permit or license requirements, HOA rules, and night caps. A property in a city with hostile or shifting rules (or a pending ballot measure) may be declined, underwritten on long-term rent instead, or priced worse. Before you write an offer, confirm the permit pathway and check our market data for regulation-risk flags on STR cities.
Can I use an STR loan to refinance or pull cash out of an existing Airbnb?
Yes — cash-out refinancing on stabilized STRs is one of the most common uses. With 12+ months of strong revenue history, lenders will underwrite on your actuals, typically up to 70–75% LTV on a cash-out. Operators use this to recycle capital into the next property, often as part of a BRRRR-style strategy applied to short-term rentals.