Foreign Investor’s Success in Florida’s Short-Term Rental Market
Short-term rental financing is a niche loan product. DAK Mortgage recently guided a U.K. client based in the Cayman Islands to successfully close a $1,755,000 cashout refinance for his short-term rental property in Reunion, Florida, unlocking capital for further investments.
Efficient Loan Processing for a Seven-Figure Cashout Refinance
With only a 15-business-day turnaround, we streamlined the process by requiring only an accountant’s income letter instead of tax returns and a single appraisal rather than the two typically required by traditional lenders for high loan amounts.
The property’s appraised value was $2,700,000, and the lender provided a 65% loan-to-value, resulting in a loan amount of $1,755,000.
The Double Challenge: A Foreign National with a Short-Term Rental Property
Securing short-term real estate loans can be challenging, especially for foreign nationals with short-term rental properties. Despite these obstacles, we were able to help our self-employed entrepreneur client reach the finish line.
DAK Mortgage: Creative Solutions for Non-Traditional Financing Needs
DAK Mortgage specializes in offering innovative residential and commercial loan programs tailored to non-traditional needs. We focus on assisting individuals and companies denied by banks and provide alternative financing solutions, including home loans for non-U.S. citizens in Florida, super jumbo mortgages, self-employed loans, investment property loans, construction lending, non-warrantable condominium financing, and bridge loans.
Pursue Your Vacation Rental Investment with Confidence
If you’re looking to purchase or refinance a vacation rental property but are unsure about financing options, the expert team at DAK Mortgage is ready to help with creative loans designed to meet your unique needs.
Reach out today and turn your dream into a profitable reality.
