Standard DSCR underwriters force appraisers to use long-term lease comps on Form 1007, which understates Vacation Rental cash flow by 35%–55%. The 10 lenders ranked below accept AirDNA Rentalizer projections (at 60%+ occupancy / 50th–75th percentile), short-term rental appraisal addenda, or 12-month Airbnb/VRBO payout histories.
| Rank | Wholesale Shelf / Lender | Max Purchase LTV | Max Cash-Out LTV | Min DSCR / FICO |
|---|---|---|---|---|
| #1 | Institutional Capital Shelf #1 (Non-QM Conduit) | 80% | 75% | No-Ratio (0.00x / <1.00x) · 640 FICO |
| #2 | Institutional Capital Shelf #2 (RTL Conduit) | 80% | 80% | 0.75x · 620 FICO |
| #3 | Institutional Capital Shelf #3 (Non-QM Conduit) | 85% | 75% | 1.0x · 620 FICO |
| #4 | Institutional Capital Shelf #4 (Non-QM Conduit) | 80% | 75% | No-Ratio (0.00x / <1.00x) · 620 FICO |
| #5 | Institutional Capital Shelf #5 (Non-QM Conduit) | 80% | 75% | No-Ratio (0.00x / <1.00x) · 620 FICO |
| #6 | Institutional Capital Shelf #6 (Non-QM Conduit) | 80% | 75% | 0.75x · 640 FICO |
| #7 | Institutional Capital Shelf #7 (Commercial Conduit) | 80% | 75% | 0.75x · 620 FICO |
| #8 | Institutional Capital Shelf #8 (Non-QM Conduit) | 80% | 75% | 0.75x · 640 FICO |
| #9 | Institutional Capital Shelf #9 (Non-QM Conduit) | 80% | 75% | 0.75x · 640 FICO |
| #10 | Institutional Capital Shelf #10 (Non-QM Conduit) | 85% | 75% | 0.75x · 550 FICO |
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