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Lenders Now Allow Airbnb Income on Mortgage Applications


The booming home-share economy has just gotten some extra credibility.

According to an article in the Wall Street Journal, Airbnb, in conjunction with Fannie Mae and three other big lenders (Quicken Loans, Citizens Bank, and Better Mortgage) announced that Airbnb homeowners can now include the money they earn from rentals when applying for refinance loans.

This is a big deal. Ever since the 2008 housing bust, lenders have been reluctant to loan money to people who have side businesses or who work part-time. But Airbnb argues that its service tracks income well and that it helps homeowners stay in their homes.

“The whole big idea behind Airbnb … was how could people unleash or capture the value of the home that they were in; typically it’s the greatest expense for any family,” said Chris Lehane, head of global policy and public affairs for Airbnb. “I do think this announcement is a next chapter in that process.”

For the full article, click HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

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