Great stuff. I wanted to just offer a very quick down-and-dirty recap here for clarity... 10% second home loan is an excellent option if you have the income and enough reserves to qualify. That's what they mean by DTI. Essentially, you need enough money in your accounts and retirement to cover 6 months of all held debt (car loans, card loans, mortgages, etc). Additionally, with those 2nd home loans, you can not use the projected income to qualify. You can use projected income to qualify with a DSCR or investment loan. So if you don't make enough to qualify for a conventional mortgage, with an investment product, you can apply that projected rental income to qualify for the loan. Of course, the downside to the DSCR or investment loan is that you need 15-25% down.

Exactly the info I was looking for, great video!

This was super helpful, looking to get my second str in the gatlinburg area !

Great video guys! Thank you for bringing her on. It was extremely informative.

GREAT STUFF. Here shortly, going to dive into the market!

You guys asked such freaking good questions, thank you!!!!

Amazing, thanks for this episode, super helpful

Thank y’all so much for making this video! My wife are so excited to get this machine up and running, hopefully one day and y’all’s level.

So glad I found this channel🔥🙌🏿

First time watching your video just what I’m looking for. Thank you

Amazing info ! God Bless!

Love Sara's honestly. Completely relatable for me. Good information.

Awesome video and highly applicable information on the vacay home loans. Thanks!

Awesome content! I really appreciate the great info that you both share regarding STR's.

Great video, thanks!

This was so helpful!! Thanks you!❤

Great interview!

Great info!

Soooooooooo informative! Thanks so much for sharing. 👍🏾❤️

Thanks for doing this interview. It helped clear up some misconceptions I had in my head.

This is great! Thank yo!

Very informative. Best, most direct video I’ve seen on the topic. Thank you!

Man she's so smart!!! She knows what she's talking about!

I appreciate yous!

Very informative video. Awesome

This was FANTASTIC 👏

Great video. Brenna I'll be calling you!

Thanks for the great information!

This is amazing. I have about $180K that I want to invest, but if I can do 10% down, I can turn that into 3 short term rentals!

Thank you

This might be the best one of your vids i have watched! Your wife asked every question I was thinking of. More like this plz!

Awesome information! Thanks, guys!

this video was straight fire like you guys are giving this info for free WOW!!!

Super valuable video as always guys!! Thank you so much. My question is what do lenders get out of this? Just like she said all lenders are not created equal, I’m sure different lenders charge different points to make their money? Because I think lender fees are a big point that can add up in the end when you are closing

Really useful info I didn't know I was under the impression I needed 20 percent

Great content. Banks need to load money now. I can see how some would think this is a grey area but, you are technically playing by the rules. Love it

Amazing video as always from you guys, I am almost certain that the 2nd home mortgage goes striaght to the DTI correct?

Wow.What a great video!

Awesome vid, thanks!

Thank you for this video

Thank you guys! Very informative! I just bought my second investment property, and I am learning so much from you two! Keep up the good. We see you (and I hope to join you one day for a feature 😁💗💯) 🤜🤛😉

Great Content as always! Thank you. I am new to real estate world and been watching your contents. I have a question. Are tax and depreciation benefits can be apply to your second home (short rental property) just like a conventional investment property? I would appreciate any input! Thanks

Great video

You guys are so awesome thank you so much for this video I am a single mom and trying to buy my second vacation home and hopefully one day be able to retire soon and spend more time with my kids

Really informative video. Do you have any lenders in CA you would recommend? Thanks!

Hey Robinsons! Great video once again! I'm out in LA area and was wondering if you can share your lender that you use for purchasing properties here in Cali? Thanks

Great information cousin.

Excellent

love you guys

Thanks for having this video! I am looking for something like this. A question though: if I purchased a vacation/second home, can the furniture, fixtures etc be written off if I make it as a short term rental?

Great info! Are you aware of any restrictions if your primary residence recently switched to an investment property?

Another great video. Are you at your new build in Tennessee? How long before you will have guests? Thanks for the great content.

I had trouble focusing with all the color of Sara's shirt! Just kidding. Another great video that is easy to understand, yet provides great details and entertaining all rolled together!

I soooo appreciate this video guys!! Thanks. Brenna is awesome 😎 I wonder if anyone have a good lender in Texas? We looked into chase but I would like other suggestions as well.

Great info great video! Thank you for continuing to give us the run down. Toni’s make up artist is ruthless though😂

I just a quote today for a second home loan: 10% down, 6.25% rate at 30yr amort and 2.015% origination fee. Requires reserves at 6mo of PITI + HOA fees. DTI of 50% if under $647k loan and 45% if over $647k.

Sara asking all the questions I have lmao I was so confused too

Question - is this loan going on your personal credit or under your business credit - in other words - can you put it in your business real estate name vs. your name?

When tax time rolls around, does it benefit you more to have a 2nd home or investment property? Can you deduct a lot more with an investment property?

Great info. Some I knew, some I didn't. When Brenna was talking about the number of loans you could have in a particular area, Tony hit the question that popped into my head (radius). Brenna's answer about not only distance but the ambiance of the location (mountain v lake) was enlightening. That could be a little tidbit of info that could get a deal done. Of course, you'd need a broker that would be willing to use that info to make it happen.

Thank you so much for the video guys. Easy to comprehend. My wife and I are looking to buy our first short term rental property (Airbnb) and we are in the research phase on how to go about it and this video helped a bunch. Thanks again :)

Wow you guys looked really different here. Great tips! Did the guy on the left get nose work done? Looks good but original nose usually beats alterations imo. Nice channel

How do the guidelines change for multifamily properties?

She wasn’t kidding when she said the mafia 😂

Can you do a second home loan like this as a re-fi to pay off a hard money construction loan used to to rehab the property first?

Thanks for this video, just sent a new client inquiry to this brokerage. New York State is hard to find brokers!

As mentioned in the video, DTI is key here. I think for many folks with moderate income and a housing payment for their primary residence, DTI will be too high for the second home loans. I went with an investment property loan for this reason.

Great video. Very informative. You should have splurge on second mic. All the mix passing was awkward.

Reasons I watch your content: 1) your content 2) her/his smile 🙈😂

I don't have a w2 job income, can I qualify for the vacation home loan?

Great content and really appreciate you both taking the time to add her to your channel. Q: Wouldn’t a short term rental business always be schedule C? I feel like E would be for a long term rental business. Curious what others are doing.

The names Fannie Mae and Freddie Mac made me giggle (I’m up in Canada). Great video!

Wait, you as the buyer of a second home have no control on what’s going on with that property before you close on the loan so I don’t understand why an appraiser would cause that loan to get denied? Whatever the seller is doing with the property before you close and get keys has nothing to do with the buyer, am I correct or not?

Any comment on the changes Feds are bringing to squash the vacation home loans? According to my lender starting April the rate on those loans is skyrocketing to 6%.

If I have a primary home in a city, can I also have a secondary/vacation home in that same city as well?

You guys own the one in the thumbnail? And the other 20 just like it lol I'm currently building in the area and there are maybe 10-15 of that "hotub" place lol

Great info...I've tried to download the calculator & checklist, but it doesn't seem to be working. After I put in my name and email, the download button just keeps spinning!? Any help would be appreciated. Thanks!

Does it make sense to do 20% and eliminate the PMI? 20% + no PMI (which can usually be between .25 and 5%) can make a huge difference on your mortgage payment.

Hi, If you put down less than 20% don’t you have PMI? If so, is it still worth it?

What about under an LLC?

Can you still use rental income if you're using your property for short term rental under a primary residence conventional loan?

Do you have your airbnbs under an LLC? If so, did you buy in your personal name then transfer the title? Or just buy in an LLC?

I would double check this, this 10% down program I learned from my lender this week has been taken away by Fannie Mae

When your lender gave the example of 50k income on a 400k cabin, was she taking net or gross? Net would be incredible, gross would still be very decent. 400k is looking like a 1 bed chalet these days...

I know a good bail bonds guy just in case you go to jail. lol. Super informative video!

I’m confused. On this buying process of 10% down , so if you are buying a $400k cabin how is the mortgage being financed is the lender the main person on the mortgage and on the deed of property and you guys pay the lender 10% down of the sale price of 400k for example ?

Do you need to own your primary residence to qualify for a second home loan?

4:28..why would anyone be renting already when an appraiser goes in if you haven't even closed yet?

You and David Mayne should Collab!

Anyone invest in the panhandle of Florida market? Looking for a Lender that does DSCR or vacation home loans. Thx!

Yeah, There is a difference between the interest rate between the 10%, 15%, 20% & 25% I couldn’t help but notice how none of them talked about what the interest rate was for these 10% down payment loans are. Honestly it comes of like a KIA commercial. They only talk about how little your down payment or monthly payment can be but never talk about what interest rate you will be paying or how long you have to make those low monthly payments for.

How do I contact Brenna the lender

Please forward Brennas information...

This was so informative! Any chance you could possibly share Brenna's contact info? Thanks!

If you plan to rent it out, how is that not mortgage fraud?

Anyone know of a lender in Texas able to facilitate these loans?

According to my lender, Fannie Mae and Freddie Mac have literally just removed 10% down payments for second home loans and now require 20%, making that the new standard for most loans. Has anyone else experienced this?

Easier just asking the seller to take back a second for 10%

How would they even know , that u stayed at that rental for 14 days lol

How is this not mortgage fraud ? If your intention is to rent the property out for STR straight away, how is the underwriter approving your “second” home or “vacation” home? Lender will call the loan and make you refi at a higher rate and larger DP (20-25%) down for a NOO investment loan The staying for 15 days comment is also misleading as well.. it’s 14 days OR 10% of the number of days your rent it out (which ever is greater). This rule relates to the IRS (not lenders) I’d be careful openly admitting that you are stating your “intention” is to live in the vacation home but the reality is you fully intend to rent it… obviously a gray area but many people will get burned. Im speaking from experience s my friend just got called on this lending approach.