Acquisition vs Refinance
- Within 180 days of purchase with no previous financing.
- Designated value is the lesser of purchase price, appraisal or validation
- Properties with an existing lien
- For the first 6 months from purchase date, designated value is the lower of cost basis or appraised value.
Short Term Rental:
- AirDNA.co reports are no longer needed. 12 Month operating history is required on all short term rentals.
- Third Party Property Management fees will now be included in monthly expenses. And counted towards DSCR and Liquidity requirements.
- Clear Capital’s CDA is the only valuation validation option.