You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.
Find a DSCR Loan lender
Debt Service Coverage Ratio Loans
Invest in your future
JD MORTGAGE® connects you with lenders who want to help you invest in your future. We find the lenders that offer terms specially tailored to your goals—for commercial real estate, multifamily properties, and cash-flowing assets.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your DSCR financing needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.”
—Mary Kate RaffettoBeck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.”
—Clint CowanLynn Pinker Hurst & Schwegmann
6 Most Popular DSCR Loan Lenders in Florida
Key Terms
Florida’s booming real estate market benefits from DSCR loans, leveraging rental income for property investments without income verification.
DSCR loans attract investors with their quick approval process and flexibility, accommodating diverse property investment strategies.
With attractive property prices and tourism, Florida’s DSCR loans provide strategic opportunities for enhancing rental property portfolios.
You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.
Easy Street Capital’s EasyRent loan program provides DSCR loans for cash-flowing investment properties. Flexible underwriting and ultra-competitive terms.
Loan Products
DSCR Loans: With rates starting at just 5.99% interest rates, 20% minimum down payment, no DSCR minimum, vacant properties OK.
Short Term Rental Loans: Leading loans for short term rentals (Airbnb); qualify with AirDNA projections and no operating history required. Rural, Vacation, and Seasonal Markets OK.
BRRRR Loans: Cash-out refinance DSCR Loans up to 75% with low seasoning requirements, 100% of capital invested returned in as little as 3 months
Multifamily Loans: 5-10 Unit properties financed on 30-year fixed rate loans with interest-only and easy qualification options.
Mixed Use Loans: DSCR Loans for Mixed Use properties up to 8 units (including up to 3 commercial units)
Lender Facts
Minimum Loan
$100,000
What We Do
DSCR Loans Rates starting at 5.99%
30-Year Fixed Rate; 10-Year Interest-Only Available
You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.
Expand your rental portfolio with New Silver’s lightning-fast DSCR loans, closing in days, not weeks. Get approved online in under 5 minutes, including an instant online term sheet.
Ready to grow your portfolio with confidence? Apply now and see how fast and easy real estate investing can be with New Silver Lending at your side.
Loan Products
DSCR Loans: A 30-year fixed loan tailored for rental properties—ideal for growing your rental portfolio. Up to 80% LTV. No minimum DSCR required.
Fix & Flip Loans: Hard money loans designed for purchasing, renovating, and reselling investment properties—perfect for executing quick fix-and-flip projects.
Ground Up Loans: Up to 100% construction financing for residential builders—ideal for developers ready to break ground.
You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.
Ridge Street’s DSCR loans allow real estate investors to purchase and refinance rental properties in 35 states, with industry-leading pricing and fast closing times for both long- and short-term rentals.
Loan Products
DSCR Loans For Long Term Rentals: Rates from 6.0% on cash flowing rental properties. Up to 80% LTV with a DSCR of 1.0 required.
DSCR Loans For Short Term Rentals: Rates from 6.75% on Airbnb and VRBO properties. Monthly rent used in DSCR calculation is based on AirDNA projected cashflow instead of 12 month track record.
DSCR Loans For Cash Out and Refinance: Ideal for BRRRR investors, we offer refinancing and cash-out options up to 80% LTV.
DSCR Loans For Multifamily Properties: 30-year loans for multifamily properties up to 25 units, with up to 80% LTV and a maximum loan amount of $2M.
Lender Facts
Minimum Loan
$50,000
What We Do
DSCR Loan Rates starting at 6.0%
Minimum DSCR of 1.0 required
Up to 80% LTV on purchases and refinances
Up to 75% LTV on cash-outs
Short-term rentals allowed
660+ credit score required
0% origination fee available
Not Available
No 100% financing
No properties > 25 units
No owner-occupied properties
No credit score below 660
Famed as the Sunshine State, Florida draws millions with seven of the ten most visited U.S. theme parks, as highlighted by www.visitflorida.org. In 2019 alone, tourists contributed an impressive $96.5 billion dollars to the economy, solidifying its status as the third most populous state with 21.9 million residents.
The real estate market in those major cities is quite healthy too, despite property taxes. The median sold house price for Q4 2021 was $365,000 according to www.floridarealtors.com. Most Florida residents own their home 67.9% of them whereas the other 32.1% rent. 8% of those rentals are available at any given time. While 8% vacancy might seem elevated, and indeed some of these rentals are for the long-term, many are also for short-term vacationers looking to spend time in Florida’s numerous beaches and resorts.
A DSCR loan, or Debt Service Coverage Ratio loan, is a mortgage loan funded by the net operating income (NOI) of the rental property. Investors will evaluate the properties potential earnings vs. the liabilities operating the rental will incur. If the property’s potential earnings are greater than the sum of debts, that property will have a DSCR ratio of 1.0 and above. A ratio above 1.0 indicates that the borrower can reliably make monthly payments using rental income and may get through underwriting for a DSCR mortgage without needing to show standard W-2 proof of income.
Lenders will qualify the loan based on this number alone, which means the financial details of the borrower are not considered, including the specific borrower’s ability to repay the debt obligations. This is great for borrowers who may not qualify for a property loan based on their W2 or tax returns, since those documents are not part of the DSCR loan application process. Financial lenders like these loans because it allows more types of individuals to qualify for loans, such as foreign nationals and LLCs, and because they are much quicker to close since they do not require extensive background checks.
If you’re in the market for a real estate investment project in Florida, consider these DSCR lenders that are available for projects in the state.
1. Griffin Funding
Griffin Funding is a national mortgage company that specializes in the types of loans that are hard to find, such as VA Home home loans, bank statement loans for the self-employed or DSCR loans for real estate investors. They are licensed to work in 21 states and are rapidly expanding.
We contacted Griffin Funding to learn more about their DSCR loans in general and here is what we found:
No income or job history verification required
No limits on the number of properties
Loan amount up to $5 million
Minimum 20% down required
Interest-only option available
Both long-term and short-term rentals are eligible
No reserve required on cashout loans. Six months required on all other loans unless DSCR ratio is less than 1.
Angel Oak is a full-service private money lender that focuses on mortgage products, traditional and non-traditional (non-QM) products. They have platforms to provide both retail lending and direct lending.
We contacted Angel Oak directly to learn more about their DSCR loan program and here are some things to consider:
New Silver started in 2019 by Kirill Bensenoff and Alex Shvayetsky. They offer a variety of private money lending products like fix and flip, rental, ground up and personal loans.
We contacted New Silver Lending to learn more about their private lending business and here are some of the highlights:
Fidelity Home Group is headquartered in Florida and offers a range of non-QM mortgage products, including low down-payment mortgages, fix-and-flip, bridge loans, self-employed mortgages and debt service coverage ratio mortgages.
We contacted Fidelity Home Group to learn more information about its DSCR loan and here is what we found:
Minimum credit score 660
Investment properties only
20% down payment required for single family homes
30% down payment required for non-warrantable condos and condotels
30% down payment required for five to eight unit properties
Founded by Eddie Hoskins in 2006, First Florida Financial works with a variety of lenders to source its loan products. They offer a wide range of financial products including jumbo loans, VA loans, FHA loans, bank statement loans and, of course, DSCR loans.
We reached out to First Florida Financial to get details about its DSCR loan and here are some key terms:
Loan amounts up to $3 million
20% minimum down payment required (80% LTV max)
Available for single-family residential housing (including condos)
Multi-unit properties, vacant land and commercial properties are not eligible
No debt-to-income restrictions
30-year fixed rates and interest only options are available
Minimum two months reserve required
No limits to the number of properties financed
Seller concessions up to 2% acceptable
3-year waiting period for foreclosures or bankruptcy
Founded by Jeff Miller and Jason Nichols, Tuss Financial Group focuses on serving business owners and has been in business for over 20 years. They specialize in stated income mortgages and have served thousands of business owners, according to their website.
We asked Tuss Financial Group for details on their DSCR loans and here is what they said:
Loans are based on the debt service coverage ratio
No ratio loans with 25% equity and strong FICO scores
What are the main advantages of a Florida DSCR loan?
When considering a DSCR loan, keep in mind that this loan type isn’t for everyone. Since DSCR loans are typically made for investors looking to purchase real estate, they may not make sense if you’re looking to make an investment in a liquid asset. They also often have higher interest rates than a conventional loan. Real estate can take months to sell, and in a down market may not sell at all. However, if you are looking for rental property with cash flow and have a decent-to-good credit score, DSCR loans make it easy to qualify without having to rely on W2 income.
What makes a DSCR loan for a rental property in Florida so enticing is it allows the borrower to leverage the many theme parks and other attractions to draw in your renters. The average price of a SFD in Florida is much cheaper than other populous states and taxes on real estate in Florida tend to be cheaper too. All this makes real-estate investors from out-of-state see Florida as a good investment prospect. A DSCR loan can be a great resource since you can rely on a stable population of tourists for short-term renting and a large native population for long-term renting.
For an established real-estate investor consider too that DCR loans can be used to qualify for multiple properties. This might mean several nearby units on a street, different property types in a city that will appeal to different kinds of renters, or even properties in different Florida cities to safeguard against a downward market turn.
Most DSCR loans tend to be approved in weeks instead of the months-long waits for traditional mortgages. Property investors looking to get a head-start on a DSCR loan will have many options across lenders for loan repayment; such as adjustable rate, fixed-rate, or interest only mortgage payments.
If you’re looking to explore DSCR loans in other states, check out our national overview of DSCR loans as a starting point in your search.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
Save more money than your friends
One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.
Biglaw Investor is helping thousands of high-income professionals manage and eliminate student loans and make great investment decisions. We’re on a mission to help every high-income professional achieve financial independence.
Biglaw Investor® is located at 1401 Lavaca St Suite 325, Austin, TX 78701. For inquiries, email us at hello@biglawinvestor.com. By accessing this website, you agree to our Terms of Use.
Trademarks
Biglaw Investor® and its logo, as well as JD Mortgage®, are registered trademarks of Four Minute Warning LLC. Other product names, logos, brands, and other trademarks featured or referred to within Biglaw Investor® are the property of their respective trademark holders and used for identification purposes only.
Information obtained via Biglaw Investor® is for educational purposes only and does not constitute financial, legal or professional advice. Always consult a licensed financial professional before making any financial decisions. This site may receive compensation from third-party advertisers. Biglaw Investor® is not endorsed or affiliated with the U.S. Department of Education or any government agency. All opinions expressed are for general informational purposes and should not be considered a substitute for advice specific to your circumstances.