25 April 2018

Lenders to allow Airbnb income on mortgage refinancing applications

12 February 2018  |  3769 views  |  0 Savings house in hands

A group of US financial institutions are set to allow homeowners to count the income they earn from renting out their properties on Airbnb on their mortgage refinancing applications.

Airbnb has teamed up with Fannie Mae and three lenders - Quicken Loans, Citizens Bank and Better Mortgage - on the initiative, designed to bring financing into the gig economy age, where people increasingly supplement their income by renting out their homes.

Airbnb will provide its hosts with a Proof of Income statement that can be included, along with other information, on refinancing applications at the three lenders by people who want to get lower rates or free up equity.

Nathan Blecharczyk, co-founder, Airbnb, says: "We’re always looking for new and better ways to empower our hosts and we are hopeful that this initiative could lead to adoption by additional lenders in the future."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit http://wup.digitalVisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
14959 views comments | 21 tweets | 28 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
11504 views comments | 18 tweets | 32 linkedin
'Fake data' will make banks vulnerable - Accenture'Fake data' will make banks vulnerable - A...
9868 views comments | 26 tweets | 36 linkedin
Irish central bank tunes in to fintechIrish central bank tunes in to fintech
8967 views comments | 20 tweets | 21 linkedin
Major card schemes zero in on single 'buy' button for online commerceMajor card schemes zero in on single 'buy'...
8865 views comments | 20 tweets | 36 linkedin

Featured job

Find your next job