Easy Street Capital is America’s leading lender for properties utilized as Short Term Rentals (STRs), the fastest growing, most innovative frontier in real estate investing.
We combine the traditional 30-year fixed rate residential mortgage product with flexible and hassle-free underwriting, delivering quick and efficient 30-day closes and non-intrusive documentation requirements (no tax returns, no income verification). Whether the property is a traditional single family residence rented on Airbnb, a luxury condo in a booming metropolitan area, or a professionally managed vacation rental property near a popular resort town - we can lend.
With rates starting at 6.750% our short term rental loans are competitive with all financing options available, perfect for the first-time investor diving in as well as seasoned professionals looking to rapidly expand a robust portfolio.
We lend in every state except for Nevada, North Dakota and South Dakota. We will rent in smaller and non-traditional markets within every eligible state.
Yes, properties currently operating under any use are eligible, including vacant properties, someone’s home, or properties already operating as an Airbnb or vacation rental.
A minimum down payment of 20% is required.
Yes, we welcome first-time investors with no restrictions applied.
Yes, we are happy to lend in areas that are dedicated “vacation towns” that have seasonal variations in revenue and when most comparable properties are also vacation rentals (i.e. ski or beach towns).
Our loans have 30-year terms a fixed interest rate throughout, and prepayment protection for five years. There is also a 10-year interest-only option available. Monthly escrows for property taxes and insurance are required.
No, our underwriting and qualification does not evaluate local licensing and regulations while offering these loans.
Yes – in fact we recommend borrowing through an LLC (however borrowing as an individual is OK in most states). We require a full guaranty for anyone who has more than 25% of ownership of the entity and allow up to four separate guarantors on each loan.
We calculate DSCR by taking monthly Projected Income (Rent or STR income) divided by your monthly payment – PITIA (principal, interest, tax escrow, insurance escrow and any HOA dues). No expenses besides taxes, insurance or HOA dues are considered in underwriting or qualification.
Yes, in these cases, the Revenue portion of DSCR can be determined by the long-term rental market rent as determined by a third-party appraiser. In certain cases (based on experience and other factors), we can use data projections from reliable sources such as AirDNA.
Our minimum DSCR is generally 0.75x, which means that we will finance loans that are negatively cash-flowing but bought and operated for price appreciation or expected short term rental revenue that exceeds market rent or projections.
Yes, we lend on condos with loans consistent with our standard structure and rates. There are some limits on LTV and DSCR based on the characteristics of the condo structure. HOA dues are included in the PITI payments when calculating the DSCR ratio.
Yes, we can lend on properties up to ten units.
Easy Street Capital has a proven track record of successfully funding single rental properties and portfolios for our borrowers.
Dallas, TX
Professional investors cash-out on their recently remodeled Dallas property with plans on using proceeds to expand their portfolio.
Lake Arrowhead, CA
Investor refinances out of their bridge loan to lock in a lower rate on their beautiful Short Term Rental in the San Bernardino Mountains.
Lutsen, MN
Experienced investors add an STR near a popular resort to their growing portfolio.
Take the next step in your investment journey with a trusted, reliable lender that has your best interest in mind. Get in touch or request a quote today.