Florida’s landlord and short-term rental market moves fast, and a lot of local investors are sitting on first mortgages at rates they locked in years ago. Refinancing just to pull cash for the next Orlando, Tampa, or Panhandle rental isn’t appealing. A DSCR second mortgage means you don’t have to — it’s a second-lien loan qualified off the property’s rental income, so your first mortgage stays exactly where it is.
How it works
Same underlying idea as a standard DSCR loan — the lender evaluates whether the property’s rent (long-term or short-term) covers its debt payments, not your personal income — but the loan is recorded in second position behind your existing first mortgage.
Minimum credit score: 680*
Program highlights
- Combined loan-to-value up to roughly 70–75%, depending on the investor and property reserves*
- Qualification based on the property’s DSCR, not W-2s or tax returns
- No limit on how many Florida properties in a portfolio can use this strategy
- Funds can fund the down payment on the next acquisition, cover renovations, or pay off higher-rate debt
Who it’s for
Florida investors who want to keep growing a portfolio without giving up a first mortgage rate they already like.
*Figures shown are typical for this program; exact minimums vary by investor and will be confirmed on your scenario.
Have a scenario you want to run? Send us the details and we’ll let you know within hours whether it fits — Select Home Loans | NMLS # 2384002 | Call (888) 550-3296 | Email: info@selecthomeloans.com.
