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Hard money loans in Pigeon Forge, TN
Loans for rental cabins, new builds and renovations near Dollywood and the Parkway.
The Pigeon Forge market for investors
Pigeon Forge is the family-attraction half of the Smokies. Dollywood, the Parkway’s theaters and outlets, and year-round events fill cabins with groups and families, which is why so many of the large, many-bedroom rental cabins in the county are here.
Investors buy existing cabins in established resort communities, build new ones on the hills around town, and renovate older cabins to add the game rooms, theater rooms and pools that larger groups book.
Areas investors ask about
- The hills above the Parkway: cabin resorts minutes from the main strip
- Near Dollywood: cabins that sell on their short drive to the park
- Upper Middle Creek and Waldens Creek: roads lined with cabin communities on either side of town
- Sky Harbor and the Spur: the wooded stretch between Pigeon Forge and Gatlinburg, close to both
Plan for these on a Pigeon Forge deal
- Pigeon Forge requires a permit for a short-term rental inside the city limits, and its zoning limits where overnight rentals are allowed. Confirm the parcel with the city before you buy.
- Large cabins are held to stricter building and fire standards. If a cabin sleeps more than a dozen people, ask what the city required when it was built and what a fire inspection will look for.
- Cabins outside the city limits fall under Sevier County’s short-term rental unit permit and yearly fire inspection.
- Rental cabins that are not your primary residence are taxed at the 40% commercial assessment ratio. Use that figure when you calculate the DSCR.
- Resort communities charge dues and set their own rules. Both the cost and the rules belong in your numbers.
Loans available in Pigeon Forge
| Program | Use it for | Top leverage |
|---|---|---|
| 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 |
| 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 |
| 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 |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Pigeon Forge hard money loans: common questions
Yes. We lend up to 85% loan-to-value on a purchase and up to 80% on a cash-out refinance, and we qualify the cabin on its short-term rental income.
Yes. Ground-up construction loans cover up to 85% of cost, and up to 90% for experienced builders, with up to 70% of the lot cost included. When the cabin is finished, a DSCR rental loan can replace the construction loan.
Yes. We use 12 months of rental history or AirDNA projections, counted at about 70 to 80%.
Rental and DSCR loans take about 30 days, appraisal included. Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready.
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Looking at a property in Pigeon Forge?
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.