Airbnb Income Can Now be Counted When Refinancing

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A new initiative being developed by Airbnb, in partnership with Fannie Mae and several lenders, would allow homeowners wishing to refinance their homes the ability to count, as income, funds generated from their properties listed on the homesharing site.  According to a recent article on Curbed, Airbnb will supply a Proof of Income statement that hosts can now include when applying with Quicken Loans, Citizens Bank, and Better Mortgage in order to  refinance an existing mortgage.

“This initiative was developed with Fannie Mae to identify new ways of recognizing home-sharing income, making it possible for homeowners to maximize their investment to better reach their financial goals,” Airbnb said in a statement. “The project is part of Fannie Mae’s work to find new, innovative ways to expand the availability of affordable mortgage credit.”

Click here to read the full story on Curbed.com.

 

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Director of Education & Outreach, National Real Estate Investors Association