Posted 02/28/2018

by Aly J. Yale

Aly J. Yale is a mortgage and real estate writer based in Houston. Connect with her at or on Twitter

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Airbnb: Fannie Mae to allow home-sharing income on refinance applications

refinance applications

Aly J. Yale

The Mortgage Reports Contributor

Renting to refinance

Are you renting out your property on Airbnb? Soon, you might be able to count that income on your refinance application.

Verify your new rate (Jun 17th, 2018)

A game-changer for Airbnb hosts

Airbnb is reportedly working with Fannie Mae, along with other lenders and institutions, to ensure home-sharing income is considered for refinance applications.

And according to Nick Papas, a spokesman for Airbnb, it’s a pretty big deal.

“For a long time, having this income considered wasn’t even an option,” Papas said.

Can Airbnb wreck your refinance mortgage?

A report even said it could lead to higher interest rates or disqualify borrowers from certain types of loans. Because of increasing reports like these, Papas said Airbnb has started to discuss potential solutions with lenders – including how Airbnb hosts could provide proof of income for their rental earnings.

Verify your new rate (Jun 17th, 2018)

The story so far

Fannie Mae has agreed to allow home rental income as part of its income qualification on refinance applications with Better Mortgage, Quicken Loans and Citizens Bank. Quicken Loans recently became the nation’s top-producing mortgage lender.

According to Nathan Blecharczyk, co-founder and chief strategy officer at Airbnb, this could be a big deal for many homeowners.

“Some of the nation’s largest financial institutions understand that Airbnb is an economic empowerment tool that can generate important income for families, and they are working to recognize this,” Blecharczyk said.

Vishal Garg, CEO of Better Mortgage, said Airbnb income could even qualify a borrower for a lower rate.

“Because of the sharing economy, the way people use their homes has changed … and now finally the mortgage industry has caught up,” Garg said. “We are able to use that income in actually underwriting the value of your house, your ability to make a payment on that loan, and then qualify you for a lower rate.”

Negotiating a better mortgage rate for your home

To use home-sharing income on a refinance application, borrowers will need to have at least a 12-month history of documented earnings and the property must serve as their primary residence. In order to make the process as easy as possible on its hosts, Airbnb will now provide instant income documentation.

Get today’s mortgage rates

Excited to finally use your Airbnb income on refinance applications? Shop around and see what sort of rates you’d qualify for today.

Verify your new rate (Jun 17th, 2018)

Aly J. Yale

The Mortgage Reports Contributor

Aly J. Yale is a mortgage and real estate writer based in Houston. Connect with her at or on Twitter

The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.

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Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)