Vacation Rentals - Short Term Rentals - AIRBNB - High End Luxury Investment Housing

July 14, 2017


We are happy to announce that the Sound Mortgage Brokers are now offering some amazing new products! As you may know, vacation rentals are almost impossible to lend on. Therefore, our new offering is truly a unique find. It is designed for the active real estate investor that may not be seeking only cash flow, but instead long-term property appreciation, when they assess the health of their buy and hold portfolio.


Our No DSCR Ratio program is strictly based on the value of the property, not the cash flow of the rental unit, making it an innovative lending program for investors that will not constrain your cash out objectives. 


Single Property Investor Series – No debt service coverage ratio (DSCR), which means we will go off of the loan to value not net operation income, which is awesome! 



Vacation Rentals – Short Term Rentals -  AIRBNB - High End Luxury Investment Housing


Loan Structure:

Offering:                              Purchase, Rate Term Refinance, Cash-out Refinance

Loan Type:                          Single property, First Lien Only

Loan Amount:                    $100,000 - $2,000,000

Loan Term:                         5/1 – 7/1 – 30/30 – No Balloon

Rate Range:                        6.5% and up

Amortization:                     30 year – Full Term Interest Only

Loan to Value:                    UP to 75% of value with 700 credit

Property Based DTI:          NO

Recourse:                            YES

Geography:                         National: Most major MSA’s and secondary markets


Underwriting Guidelines:

Property Type:                   SFR, 2-4 units, condos (FNMA warrantable), townhomes

Valuation Type:                  1004/1007 URAR Standard with CDA Reconciliation

Borrower FICO:                  640 Minimum

Seasoning:                          6 Months on title for value

Documentation:                Streamlined – NO Tax Returns

Reserves:                            Minimum of 4 months PITIA

Prepayment Penalty:        Declining or 80% of 6 months Interest Payments

Eligible Borrowers             US Citizens/Permanent Resident Aliens/Foreign Nationals

Ineligible Borrowers:        Owner Occupied Homes


 **Industry Leading 30 year fixed rate ** - 85% Property Based DTI

§  30 year fixed rates

§  30 year amortization

§  Loan Sizes $68K to $5 Million+

§  Property Minimum Value - 90k

§  SFR (1 – 4 Unit)

§  6.53% and up!

§  75% LTV - LTC max

§  Purchase - Refinance - Cash out

§  Unlimited cash out

§  Non US citizenship OK to 65%

§  640 min FICO


Call me to discuss your opportunity or request a consultation! 


Happy investing!





Phil Hills

Direct:  206-349-7715  


The Sound Mortgage Brokers LLC,

3417 Evanston Ave. N #231 - Seattle, Washington 98103


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The Sound Mortgage Brokers LLC  is for Non-Owner Occupied residential and commercial Real Estate.

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