Airbnb income now pays off when you refinance your mortgage

Airbnb, Fannie Mae and three major financial institutions launched an initiative that will allow you to include Airbnb income when applying to refinance your mortgage.

Dan Dziedzic Associate editor
Dan has been a professional writer for more than a decade and now specializes in routers and networking devices. Originally from Chicago, IL, Dan studied comedy writing at Second City and worked as a Chicago sports journalist for a number of years. With a background in physics, he spends his spare time learning about the intricacies of the universe.
Dan Dziedzic
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Airbnb income may now help you refinance your mortgage.

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Income from your Airbnb  rental may soon help you refinance the mortgage on your primary home. A new initiative from Airbnb with Fannie Mae and three major financial institutions will let some mortgage lenders consider income from Airbnbs for applicants looking to refinance their home. 

The initiative will allow Airbnb hosts in the US to include their Airbnb Proof of Income, along with their application and other standard financial information when they apply to refinance their mortgage with Quicken Loans, Citizens Bank or Better Mortgage. Banks didn't previously consider money received for an Airbnb as part of an applicant's total income.

Fannie Mae has been looking for new ways to offer affordable mortgage credit to consumers and this project is part of that effort. Including this income with applications could help people get the funding they need for home improvements.

Full details on how this initiative works are available here from Airbnb.