I’m Michael DiVita — DRE #01372066 | NMLS #241655, DiVita Home Finance (DRE #01818285 | NMLS #323700), Tiburon, CA. I’ve been in California mortgage lending since 2000 and founded DiVita Home Finance in 2007. Big Bear buyers come to me with second home and DSCR loan questions regularly — the STR market and fire insurance complications require lenders who know the area. Call (800) 239-1103.
Big Bear Lake is Southern California’s premier mountain escape — two hours from LA, with skiing at Snow Summit and Bear Mountain, summer water sports, and year-round short-term rental demand. If you’re considering buying a Big Bear vacation home, here’s what you need to know about financing.
Big Bear Mortgage Overview
Big Bear Valley sits in San Bernardino County at 6,750+ feet elevation. Properties range from small A-frame cabins under $400,000 to lakefront homes over $2 million. The market has seen strong appreciation and short-term rental demand since 2020, driven by LA buyers seeking mountain retreats.
Financing Options for Big Bear Properties
Second Home Conventional Loan
If you plan to use the property personally (even partially) and don’t rely on rental income to qualify, a second home loan is the most cost-effective option. 10% down minimum, rates 0.25–0.5% above primary home rates. Credit score 680+ preferred.
DSCR Loan for Big Bear Rentals
Big Bear is one of California’s strongest short-term rental markets. If rental income is your primary focus, a DSCR short-term rental loan qualifies you based on the property’s rental income potential — not your personal income. No tax returns needed. Ideal for investors and self-employed buyers who want their rental income to do the qualifying work.
Investment Property Conventional Loan
If you want to rent the property most of the year, classify it as an investment property. 20–25% down, slightly higher rates than a second home loan, but rental income can be used to qualify.
Condo and HOA Considerations in Big Bear
Many Big Bear properties are in HOA communities. Key considerations: HOAs that ban or restrict short-term rentals can affect your financing and your business model; condo properties must pass warrantability review (investor concentration, HOA delinquency rates); and some Big Bear condo complexes are non-warrantable — requiring portfolio or DSCR loans rather than conventional financing.
Big Bear Short-Term Rental Regulations
San Bernardino County requires a STR permit for unincorporated Big Bear Valley. The City of Big Bear Lake has its own permit requirements. Permit caps exist in some areas — confirm permit availability before purchasing if STR income is essential to your plan. This is a critical step many buyers skip until after closing.
Insurance at Big Bear
Like much of mountain California, wildfire insurance is challenging. Big Bear sits in a high fire severity zone. Many standard carriers no longer write policies here — plan for surplus lines insurance. Budget for elevated annual premiums depending on property size and age. See our fire zone insurance guide for current options.
Frequently Asked Questions — Big Bear Mortgage
What is the minimum down payment for a Big Bear vacation home?
10% down for a second home conventional loan — this applies when you plan to use the property personally and don’t need rental income to qualify. For investment property classification or DSCR loans (when rental income drives qualification), the minimum is typically 20–25% down. With 20%+ down on either structure, you avoid PMI and qualify for significantly better rates. Big Bear cabins under $400,000 with 20% down require $80,000 in down payment; lakefront homes over $1M require $200,000+. I match buyers to the right structure based on their intended use and income situation.
Can I use Airbnb rental income to qualify for a Big Bear mortgage?
Not with a standard second home loan — second home financing prohibits using rental income to qualify. For rental income qualification, you need a DSCR loan or investment property loan. DSCR loans use the property’s projected or actual rental income — no personal income verification needed. This is particularly useful for self-employed buyers or buyers with complex income situations who want their Big Bear rental to stand on its own financial merits. I run the DSCR math upfront so buyers know exactly what rental revenue they need to cover the loan before they make an offer.
Are there short-term rental restrictions in Big Bear?
Yes — both San Bernardino County (for unincorporated areas) and the City of Big Bear Lake require STR permits, and some areas have permit caps that limit new permits. Always verify STR regulations and confirm permit availability before purchasing if short-term rental income is central to your investment plan. Additionally, if you’re buying in an HOA community, check the HOA’s CC&Rs for rental restrictions — some Big Bear HOAs prohibit or severely limit short-term rentals, which would affect both your business model and how lenders classify the loan.
Talk to Michael Directly
DiVita Home Finance | Tiburon, CA | In lending since 2000, founded DiVita Home Finance in 2007. Michael DiVita DRE #01372066 | NMLS #241655. Company DRE #01818285 | NMLS #323700.
💬 Text: (310) 849-9124
