You can find DSCR loans in Florida through mortgage brokers, investor-focused lenders, and some non-QM loan programs. DSCR loans are generally designed for real estate investors and qualify the property more on rental income than your personal income.

A good place to start is with a mortgage professional who regularly works with investment property and non-QM financing. DSCR loan guidelines can vary a lot, so comparing options matters. Key things to ask about include:

– **Minimum credit score**: Many programs typically start around **660-680**, though stronger credit may help with more options.
– **Down payment requirements**: DSCR loans often require a larger down payment than owner-occupied loans.
– **DSCR ratio**: Lenders usually compare the property’s rental income to the proposed mortgage payment. A ratio around **1.0 or higher** is commonly preferred, though some programs may allow lower ratios with compensating factors.
– **Property type**: Single-family homes, condos, townhomes, 2-4 unit properties, and sometimes short-term rentals may be eligible depending on the program.
– **Rental income documentation**: Long-term leases, market rent schedules, or short-term rental income projections may be used, depending on the property and lender.

In Florida specifically, DSCR loans are popular for rental properties in markets with strong investor activity, including areas like Tampa Bay, Orlando, Jacksonville, Miami/Fort Lauderdale, and vacation-rental markets. If the property is a condo or short-term rental, make sure the lender is comfortable with that scenario before you get too far into the process.

The easiest path is usually to work with a broker who can shop multiple DSCR programs and match the loan to your credit, down payment, property type, and rental income.

DSCR (Debt Service Coverage Ratio) loans are widely available in Florida since it’s one of the top investor markets in the country. These loans qualify you based on the rental income of the property rather than your personal income, making them popular for real estate investors.

**Where to find DSCR loans in Florida:**

– **Mortgage brokers** – Brokers (like Tim) have access to multiple wholesale non-QM lenders and can shop your scenario across several options to find the best fit.
– **Non-QM wholesale lenders** – These lenders specialize in investor and alternative-doc loans but typically only work through brokers, not directly with borrowers.
– **Private lenders / portfolio lenders** – Some smaller banks and private lenders offer DSCR-style products, especially for larger portfolios.
– **Credit unions** – A few offer investor loans, though terms are often less flexible than non-QM options.

**Typical Florida DSCR loan parameters:**

– Minimum credit score: generally 620–680 depending on the lender and LTV
– Down payment: usually 20–25% for purchases
– DSCR ratio: often 1.0 or higher (some programs allow sub-1.0 ratios with pricing adjustments)
– Loan amounts: typically $100K up to $3M+
– Property types: SFR, 2–4 units, condos, short-term rentals (Airbnb/VRBO income often allowed in FL)
– No personal income, tax returns, or employment verification required
– Available for LLCs or personal names
– Prepayment penalties are common (3–5 years typical)

**Florida-specific considerations:**

– Short-term rental DSCR loans using AirDNA or 12-month rental history are widely available given FL’s vacation market
– Condo approvals can be stricter. Non-warrantable condos require specialty programs.
– Hurricane/wind insurance costs factor into the DSCR calculation, so budget accordingly.
– Flood zone properties need flood insurance, which also affects the ratio.

Working with a broker who regularly places DSCR loans is usually the fastest path since they can match your specific scenario (credit, property type, LTV, STR vs. LTR) to the right lender.

DSCR loans in Florida are most commonly found through mortgage brokers who specialize in investment properties and non-QM (Non-Qualified Mortgage) products. While some banks, credit unions, or private lenders may offer them, mortgage brokers typically provide access to the widest variety of DSCR loan programs from numerous wholesale lenders.

Working with a knowledgeable mortgage broker is beneficial because DSCR loans are not standard conventional loans. They are designed specifically for real estate investors and have unique qualification criteria. Instead of verifying your personal income with tax returns or pay stubs, the lender focuses on the investment property’s ability to generate enough rental income to cover its mortgage payment and other expenses.

Here are the key features of a typical DSCR loan:

* **Income Qualification:** The loan is underwritten based on the property’s cash flow. The lender calculates the Debt-Service Coverage Ratio (DSCR) by dividing the gross monthly rental income by the total monthly mortgage payment (including principal, interest, taxes, and insurance). A ratio above 1.0 is required, meaning the property generates more income than it costs.
* **Down Payment:** Down payments are generally larger than for primary residences, typically starting at 20-25% of the purchase price.
* **Credit Score:** Minimum credit score requirements often fall in the mid-to-high 600s, though specific requirements vary by lender and program.
* **For Investors:** These loans are exclusively for non-owner-occupied investment properties, including single-family homes, 2-4 unit properties, and sometimes short-term rentals.

To find a provider in Florida, you can search for local mortgage brokers with experience in investor financing or non-QM loans. Real estate agents who work with investors are also an excellent source for referrals to lenders who are active in this space.