Quicken Loans to Enable Airbnb Rental Income for Refinancing
February 9, 2018
Quicken Loans has entered into a partnership with Airbnb that will enable the property rental company’s hosts to use their rental income on a primary residence to refinance their mortgages through the Detroit-based lender.
According to the companies, using this additional revenue in debt-to-income calculations will expand refinancing opportunities to Airbnb hosts by allowing them to tap into their home equity. The Airbnb hosts’ home sharing income is shown on their proof of income statements.
“Technology is at the heart of everything we do at Quicken Loans, so it is a natural fit for us to partner with one of Silicon Valley’s most innovative companies,” said Jay Farner, Quicken Loans CEO. “We are very excited to be collaborating with the leader in home-sharing and tech-driven property rentals. Airbnb and Quicken Loans are firmly aligned to drive innovation in the real estate industry to dramatically improve and simplify client experience, as well as saving homeowners time and money.”
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