getting a mortgage

[Kelly29]

Hi All!

I remember seeing a post a while back where someone had mentioned getting a mortgage loan on the basis of Airbnb income from a bank that seemed to work but I can't find my bookmark of the bank's website - anyone have this information? It was a relatively new program!

Thank you!

Kelly

[Marcus0]

@Kelly29 i cannot help you on your specific answer hear but i just wanted to say personally, if you were going to get a loan out on a property you should base the affordability on its standard rent.  Rent from tourism can be great one moment, and not so great the next due to many circumstances.  If you are financially ok even if there are problems then by all means go ahead, but just because it might appear your incomes are better on Airbnb, they carry a much higher risk.  Please also note that Airbnb does experience alot of problems in different countries in conflict with goverments and hotel associations.  You can invest alot into Airbnb only to have airbnb start de-listing apartments in certain areas with 2 weeks notice especially on hosts like yourself that are starting to commercially operate.   You may know all this but just thought i´d add my 2 cents.

[Erin67]

Hi Kelly,

I'm also getting a Mortgage and am in the Bay Area too .. I'm leaning towards a 30 Year Fixed, but I am going to figure out an extra payment plan that converts my 30 Year to 25 Years 🙂 I saw your post and thought you'd find this interesting too: https://www.motivatehq.com/early-access