DSCR loans for Gatlinburg cabins and Smoky Mountain rentals
Gatlinburg Hard Money Loans finances rental cabins, chalets and condos in Gatlinburg, Pigeon Forge and Sevierville, and investment property across Tennessee. Approval rests on the rent the property earns, not on your tax returns. We also fund ground-up cabin construction and fix and flips.
The Smoky Mountain division of Optimus Capital Corp. Business-purpose loans on non-owner-occupied investment property only.
Loan terms at a glance
| Rental purchase | up to 85% LTV |
| Rental cash-out | up to 80% LTV |
| Ground-up construction | up to 90% of cost |
| Flip: purchase financed | up to 90% |
| Flip: rehab financed | up to 100% |
| Minimum credit score | 600 |
| Loan amounts | $75K to $10M+ |
Rental loans are approved on the property’s rent and take about 30 days to close. Construction at 90% of cost is for experienced builders. Top fix and flip leverage is for credit scores of 720 and up, and a flip loan can close in about 7 days.
Gatlinburg Hard Money Loans is the Smoky Mountain division of Optimus Capital Corp, a nationwide hard money lender that works only with real estate investors. The team is Andrew Shanti and Collin Cook, who bring more than 20 years of combined lending and real estate experience. We lend only on non-owner-occupied property: rentals, new builds and flips.
DSCR rental loans are our main program
A DSCR loan is long-term financing on a rental property, approved on whether the rent covers the payment. There are no tax returns and no employment check.
Buy a rental cabin
Up to 85% loan-to-value on a purchase, with fixed terms from 5 to 30 years. Credit scores start at 600, where the limit is 70%.
Cash out or refinance
Up to 80% loan-to-value on a cash-out refinance of a rental you already own. Prepayment choices are 3-year, 5-year or none.
Nightly rental income counts
Cabins, chalets and condos rented by the night qualify on short-term income: 12 months of rental history, or AirDNA projections counted at about 70 to 80%.
DSCR = monthly rent ÷ monthly payment. The payment counts principal, interest, taxes, insurance and association dues. We prefer 1.0 or higher, and a strong borrower can qualify below 1.0 with less leverage.
Everything we finance
Every loan is a business-purpose loan secured by investment real estate. Terms run from 6 months to 30 years.
| Program | Use it for | Top leverage | Approved on |
|---|---|---|---|
| DSCR rental loans | Purchase or refinance of rental cabins, condos and long-term rentals | 85% loan-to-value to buy, 80% on a cash-out refinance | Whether the rent covers the payment |
| Ground-up construction loans | Building a cabin or home from the ground up, with the lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value | Budget, finished value and your building record |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value | The deal: price, rehab budget and resale value |
| Mid-rehab loans | Completing a renovation or build that has run short of funds | The current as-is value plus the cost to finish | As-is value and remaining scope |
| Portfolio loans | A group of rentals under one note and one payment | 80% to buy or refinance, 75% on a cash-out | Rent across the whole group |
| Commercial loans | Multifamily, hospitality, office, industrial and retail | Priced per deal | The property and its income |
From first call to closing
- Tell us about the dealAddress, price, the rent it earns or the renovation budget, and whether you plan to hold or sell. A call or the short form is enough.
- See your termsWe run the numbers and tell you the leverage and pricing available. As a rule there is nothing to pay upfront.
- Appraisal and reviewThe appraisal is ordered and you pay the appraiser directly. Investors with 5 or more flips in the past 2 years can skip the inspection and appraisal on a flip.
- Close in TennesseeRental loans take about 30 days, appraisal included. Fix and flip loans average up to 21 days and can close in about 7 days once title and insurance are ready. Closings run through a Tennessee title company or closing attorney.
What clients say about Andrew and Collin
Andrew Shanti with Optimus Capital has been exceptional to work with. Over the past several years, I have closed numerous transactions with Andrew on behalf of sophisticated real estate investors, and his performance has been consistently outstanding. [...] Every transaction I have been involved with Andrew at Optimus Capital has closed, including many requiring thoughtful structuring and creative solutions due to their challenging nature.
Maria McKee, Premier Sotheby’s International Realty, Google review of Optimus Capital
[...] this review goes out specifically to Collin Cook. I worked with him on a STR acquisition of a condo in SC and the transaction could not have gone more smoothly. Collin is concise, transparent, and efficient in the way that he manages his transactions and communicates with all the respective parties involved in his transactions.
Zach Edelman, Google review of Optimus Capital
Just completed a rental portfolio refi with Optimus. Andrew and Daisy were amazing to work with and helped me work through every challenge quickly and with clear understanding.
Zachary Hagan, Google review of Optimus Capital
These reviews were left for Optimus Capital, our parent company, about Andrew Shanti and Collin Cook. Read all of the Optimus Capital reviews on Google.
Property and borrowers we work with
Smoky Mountain investment property
- Rental cabins and chalets on Airbnb and VRBO
- Condos, including non-warrantable condos
- Condotels
- Long-term rentals
- New cabins built to rent or to sell
- Cabins and houses to renovate and resell
Commercial property
- Multifamily
- Hospitality
- Professional office
- Industrial
- Retail shopping centers
Who can borrow
- New investors and seasoned ones
- Credit scores of 600 and above
- Out-of-state owners and LLCs
- Foreign nationals, on rental loans
- Investors with any number of existing loans
We do not finance a home you will live in. For a primary residence, talk to a conventional mortgage broker.
Lending in the Smokies and across Tennessee
Our focus is Sevier County: Gatlinburg, Pigeon Forge, Sevierville and Wears Valley. We also lend in Townsend, Knoxville, Chattanooga, Nashville and the rest of Tennessee.
Questions investors ask us
Who is the best lender for an investment property in Gatlinburg?
It depends on the deal. A rental cabin calls for a DSCR lender that counts nightly rental income, and a new build or flip calls for a hard money lender that funds the work. We do both, and we lend only on non-owner-occupied property. How to choose a lender.
Can I finance a cabin I plan to rent on Airbnb or VRBO?
Yes. We finance cabins, chalets and condos as short-term rentals and qualify them on projected short-term income instead of long-term rent. The property has to be allowed to operate as a short-term rental where it sits.
Do you check my income?
No. A rental loan is approved on the rent the property earns, and a flip or construction loan on the deal. There is no employment or debt-to-income review.
What credit score do you need?
Programs begin at a 600 score. A rental purchase at 600 is limited to 70% loan-to-value, and stronger credit qualifies for up to 85%.
I live out of state. Can I still borrow?
Yes. Many cabin investors in Sevier County live somewhere else. You can borrow in your own name or through an LLC.
How fast can a loan close?
Rental loans take about 30 days, appraisal included. Fix and flip loans average up to 21 days and can close in about 7 days once title and insurance are ready.
Have a cabin or a deal in mind? Run it by us.
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.