Airbnb hosts will be able to use rental income from their primary residence to refinance mortgages with Quicken Loans thanks to a new partnership of the tech-driven firms
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Airbnb hosts will be able to use rental income from their primary residence to refinance mortgages with Quicken Loans thanks to a new partnership of the tech-driven firms.
The new partnership will enable rental hosts to access their home equity through increased debt to income calculations. Their Proof of Income is downloadable from their Airbnb account.
“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. “Rocket Mortgage has quickly become our company’s platform where all of our client focused technology is accessible to consumers.”
As well as developing its Rocket Mortgage solution, Quicken Loans has already embraced the innovations of other tech firms including Amazon Alexa, which can be used to make mortgage payments to the lender; and it also used Fannie Mae’s digital income verification service pilot.
“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,” added Farner.
