A vacation rental can earn far more in a good month than a 12-month lease, but many lenders only want to see the lease. If you are buying or refinancing a nightly rental, the lender you pick decides whether that revenue counts at all.
In short: Our top pick for short-term rental loans is LendingStreet. On some programs we qualify the property on projected short-term rental revenue instead of a long-term lease, with no W-2s or tax returns. Loans start at $150,000 with no stated maximum, purchases go up to 80% LTV, LLC borrowers are standard and 30-year terms are available. We lend in all 50 states and DC. Get a quote with the form below.
LendingStreet is built for real estate investors, and our STR DSCR loan is a business-purpose loan on non-owner-occupied property that is designed for nightly and weekly rentals. The key difference: on some programs, the property qualifies on what it is projected to earn as a short-term rental, not on what it would lease for over 12 months.
It fits investors buying a beach house, mountain cabin, lake home or city rental in a market where STRs are legal, and owners refinancing an operating STR to pull cash out or move off short-term debt.
To get started, send the address and your revenue projection through the form below or call (877) 298-1001.
If you are weighing CoreVest, Dominion Financial, Lima One and Visio Lending for a short-term rental (Airbnb and VRBO) loan, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| A single short-term rental | LendingStreet | We finance individual 1-8 unit short-term rentals. CoreVest states its short-term rental loans are for 5+ STR properties under one loan. |
| Short-term rental with credit in the 620s | LendingStreet | Our DSCR minimum is 620. Visio Lending's STR guide states a 680 minimum, and Lima One states 700 for its STR loans. |
| Short-term rental loan above $2.5M | LendingStreet | Our DSCR loans have no stated maximum. Lima One states STR loans up to $2.5M. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Most rental loans are sized on a long-term lease. For a vacation home that is a problem, because a cabin or beach house often leases for much less over 12 months than it earns from nightly guests. A lender that only counts lease income can make a strong STR look like it barely pays for itself.
Qualifying on projected short-term revenue fixes that mismatch. The projection should reflect the property's real market: comparable listings nearby, seasonality, bedroom count and the amenities guests pay for. If your projection comes in low, read our guide to STR loans with a low revenue projection for options.
Revenue support also matters on a refinance. An operating STR with a year or more of booking history gives a clear record of what the property actually earns, which can make the review easier than relying on a projection alone.
STR investors usually choose among local banks and credit unions, local hard money lenders, private individual lenders and national online DSCR lenders. Banks can be conservative about nightly income, and hard money is designed for short holds. Here is a fair side-by-side for a long-term STR hold.
| What STR investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Income used to qualify | Projected short-term rental revenue on some programs | Often wants lease history or tax returns showing rental income | Mostly the property value; income less central |
| Personal income documents | No W-2s or tax returns | Usually required | Usually not required |
| Term for holding the rental | 30-year terms available | Varies; often shorter or adjustable | Usually short-term only |
| Leverage | Up to 80% LTV purchase, up to 75% cash-out | Varies by bank | Varies; short-term |
| Borrowing in an LLC | LLC borrowers are standard | Varies | Usually allowed |
| Minimum credit score | 620 | Varies | Varies |
| Where you can borrow | All 50 states and DC | Often its local footprint | Often one region |
No lender can make an illegal STR legal. Cities and counties decide whether a non-owner-occupied short-term rental may operate, and the rules differ widely. Some large cities limit or ban non-owner-occupied STRs in residential areas, while many vacation towns welcome them with a permit.
Before you buy, confirm the property can operate as a nightly rental under current zoning, permit or license rules, any HOA or condo covenants, and occupancy limits. Rules change, so check with the city or county directly, not just the listing.
This example is illustrative and not a quote. An investor buys a lake home for $600,000 in a county that allows non-owner-occupied STRs. The qualifying projected short-term revenue used is $5,200 a month. A 12-month lease would bring about $3,300. Taxes are $450 a month and insurance $300.
At 75% LTV the loan is $450,000. Estimated principal and interest on a 30-year term is about $3,070, so the total payment is about $3,820. On projected STR revenue, DSCR is about 1.36x. On the long-term lease alone it would be about 0.86x, below the 1.0x standard minimum.
| Item | STR revenue | Long-term lease |
|---|---|---|
| Monthly income used | $5,200 | $3,300 |
| Estimated principal and interest on $450,000 | $3,070 | $3,070 |
| Taxes and insurance | $750 | $750 |
| Total payment | $3,820 | $3,820 |
| DSCR | About 1.36x | About 0.86x |
Short-term stays usually trigger lodging or occupancy taxes, and in many states sales tax as well. They are collected from guests and paid to the state, county or city, so register before your first booking. Some listing platforms collect certain taxes for you, but not always all of them.
Insurance for a nightly rental is different from a standard landlord policy. Ask for coverage written for short-term rental use, and in coastal or flood-prone areas, price wind and flood coverage before you set your offer. Furnishing, cleaning and management costs do not show up in the loan payment, but they shape whether the property is a good investment.
If you bought or built a vacation rental with short-term financing or cash, a DSCR refinance can move it onto a 30-year term. Cash-out goes up to 75% LTV, and seasoning varies by program. An operating STR with a booking history gives the lender real data to support the revenue figure. See our STR DSCR refinance guide for details.
If the property earns more as a long-term rental than its STR projection suggests, or local rules have changed, qualifying on a 12-month lease is another option. We can run the numbers both ways.
Use the same checklist with every lender so the answers line up. Here is how LendingStreet answers.
| Ask any STR lender | LendingStreet's answer |
|---|---|
| Can I qualify on projected nightly revenue? | Yes, on some programs, instead of a long-term lease |
| What is the maximum LTV? | Up to 80% on purchases, up to 75% on cash-out; varies by program |
| What DSCR minimum applies? | 1.0x standard; sub-1.0 programs exist |
| How long before I can take cash out? | Seasoning varies by program |
| Can my LLC be the borrower? | Yes, LLC borrowers are standard |
| How quickly can we close? | It depends on the appraisal, title and how complete your file is |
| Is there a loan size limit? | From $150,000 with no stated maximum; larger balances get more review |
The more complete the file, the clearer the answer. Send these through the form below or call (877) 298-1001.
Our top pick is LendingStreet. On some programs we qualify on projected STR revenue instead of a long-term lease, with no W-2s or tax returns, up to 80% LTV on purchases, LLC borrowers and 30-year terms.
Yes. LendingStreet lends in all 50 states and DC, wherever the property can legally operate as a short-term rental.
Yes, on some programs. The projection should be supported by comparable short-term rentals in the market.
A lower loan amount, a sub-1.0 DSCR program or qualifying on a long-term lease may work. Our low projection guide explains the options.
You need to show the property can legally operate as an STR. Where a permit is required, confirm it is available for this address before you buy.
Possibly, if the condo association allows rentals under 30 days and the local rules allow STRs. Check the declaration and rules first.
Our investor loans are business-purpose loans on non-owner-occupied property. The property must be operated as a rental, not as a home you live in.
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