Airbnb Loan With No Rental History: Qualify on a Projection

Why a DSCR loan can use projected income at all

A DSCR loan qualifies the property, not you. There’s no lease on a brand-new short-term rental, so the lender accepts a credible projection of nightly revenue in place of one. That’s the whole reason a first-time buyer can qualify before hosting a single guest — and why “no rental history” is a solved problem, not a dealbreaker.

The two projection methods lenders trust

Form 1007 (the appraisal route)

The appraiser completes a Single-Family Comparable Rent Schedule (Form 1007), increasingly with a short-term-rent addendum, using comparable nightly rates and occupancy. Because it carries a licensed appraiser’s signature, nearly every DSCR lender accepts it.

Market data projection (AirDNA / Rabbu)

STR-specialist lenders accept a third-party data projection of gross annual revenue directly — faster and cheaper than waiting on a 1007 addendum, but only a subset of lenders allow it, and they weigh the comp count and radius behind the number.

Which lenders accept projections (and which want history)

• Accepts market projection, no history — the fastest path for a first STR purchase.
• Requires 12-month history — usually a better rate, but only once you have a track record.
• No-ratio / sub-1.0 programs — exist for thinner deals at a premium.

Run the address and we’ll show how many of the lenders we track accept a projection at your DSCR.

How to make your projection defensible

A projection without a source is noise. A defensible one has a high comp count within a tight radius, a trailing-12-month window, and conservative occupancy assumptions. We show the comp count and radius on every figure so you — and the lender — can see how solid the number is. When in doubt, underwrite to the conservative end of the band.

After you close: actuals beat projections

Once you have a strong trailing-12-month statement, it can beat a conservative projection — actuals are hard to argue with — and can lift your DSCR on a future refinance. Keep clean records from day one.