STR DSCR loans: using Airbnb revenue
How lenders convert Airbnb and VRBO revenue into qualifying income, what documentation wins, and where STR files get tighter.
Short-term rental revenue counts on DSCR refinances. The mechanics differ from a long-term lease: instead of a signed rent amount, the lender works from your trailing revenue history or a market revenue analysis.
How the income is calculated
- Trailing 12-month gross platform revenue ÷ 12 is the standard input
- Some programs apply a haircut for operating expenses
- A third-party market revenue report may be used when your own history is short
- Mid-term furnished rentals (30+ days) are often treated more favorably than nightly
Documentation that wins
- 12 months of Airbnb / VRBO / Booking.com earnings statements
- A property-level P&L if multiple listings sit under one account
- A current local short-term rental permit
- An STR-specific insurance quote (it costs more than a landlord policy)
- Your cleaning, management and platform fee figures
Where STR files get tighter
Regulation is the real risk. Cities that have banned or capped permits get underwritten conservatively, and condotels or resort-managed units often price and lever differently from a standalone house. Insurance and higher property taxes also push PITIA up, which pressures DSCR.
Seasonality is normal. That's why the trailing 12-month average is the standard — not your best three months.
The practical move
Before applying, compute DSCR both ways: on your trailing STR revenue and on a conservative long-term market rent. If the deal works on the long-term rent too, you have a resilient file and a fallback if your market's rules change.
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