FOR FLORIDA REAL ESTATE INVESTORS
Qualify based on Rent Potential, Not an Active Lease.
DSCR loans use projected market rent from the appraisal report to qualify, so you can buy or refinance Florida rental properties, even vacant ones, without W-2s, pay stubs or personal tax returns.
- Not a loan application
- No SSN required
- No impact to your credit
- No Tax Returnsor personal income docs
- $100K–$4.5Mloan amounts
- Credit from 620680+ for better terms
- 20% Down15% at 740+ credit
- No Minimum DSCRwith compensating factors
- LLC Vestingborrow in your LLC
WHY DSCR
Let the property qualify for the loan
DSCR stands for debt service coverage ratio: the property's monthly rent divided by its monthly payment, including taxes, insurance and any HOA dues. A ratio of 1.00 means the rent covers the payment. Our programs have no minimum DSCR, and ratios below 1.00 may be considered with compensating factors. You do not need a tenant or an active lease: approval uses projected market rent from the appraiser's rent schedule (Form 1007, or STR1007 for short-term rentals), based on comparable rentals nearby. You can be approved and close even if the property is vacant.
Up to 80%
Cash-out refinance
loan-to-value with a DSCR of 1.00 or higher, and no seasoning required.
30 or 40 Years
Loan terms
fixed, interest-only and adjustable-rate options.
Built for rental property investors
- First-time and experienced investors
- Owners of long-term rental homes
- Investors growing a portfolio
- Buyers who close in an LLC
- Owners refinancing to pull out cash
- Self-employed investors with complex returns
HOW IT WORKS
Three simple steps to your pre-approval
- 1
Request a callback
It takes less than 30 seconds. A licensed loan officer will call you to review your investment goals.
- 2
Share the property numbers
Tell us the price or value, the expected monthly rent and your down payment. We'll estimate your DSCR.
- 3
Get pre-approved
Receive your pre-approval and make offers with confidence. Closings typically take 21 to 45 days.
Speak with a Loan Officer
Tell us a little about your investment plans. This is not a loan application and does not affect your credit.
Frequently Asked Questions
Q1- Do I need tax returns or pay stubs?
No personal income documents are needed to qualify. The loan qualifies on the property's projected market rent from the appraisal. You'll still need credit and funds for your down payment, closing costs and reserves.
Q2- Can I qualify if the property is vacant?
Yes. You can be approved and close a DSCR loan with no tenant and no active lease. The appraiser provides a rent schedule (Form 1007, or STR1007 for short-term rentals) that sets the property's projected market rent based on comparable rentals, and that rent is used to qualify.
Q3- What credit score do I need?
The minimum credit score is 620. Scores of 680 or higher typically qualify for better rates and terms.
Q4- How much do I need for a down payment?
Generally 20% down. With a credit score of 740 or higher, 15% down is available on loans up to $1,000,000.
Q5- Can I close in my LLC?
Yes. You can borrow as an individual or through a U.S. LLC with a personal guarantee. Some programs also allow partnerships, corporations or revocable trusts.
Q6- Can I buy a fixer-upper?
DSCR loans are for rent-ready properties. If the property needs work first, ask your loan officer about our private funding options.
Q7- Is there a prepayment penalty?
Most DSCR loans carry a prepayment penalty, and options without one are available. Your loan officer will explain the choices before you decide.
Q8- Can I use this page in Spanish?
Yes. Tap ES at the top of the page to read it and fill out the form in Spanish.
This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and property eligibility. Rates, terms and DSCR requirements depend on the property, credit and program, and may change without notice.