Securing the right financing is crucial for real estate investors looking to expand their portfolios. One of the most popular loan options for investors who want to qualify based on their property’s cash flow, rather than their personal income, is a Debt Service Coverage Ratio (DSCR) loan. These loans are designed to assess the property’s ability to generate enough income to cover the mortgage payment, making them an excellent choice for those with multiple investment properties or non-traditional income sources.
If you’re considering a DSCR loan in Florida, selecting the right lender can make a significant difference in the loan terms and the success of your investment. In this guide, we’ll explore five of the best DSCR lenders in Florida, starting with Select Home Loans, a top-tier choice for investors looking for flexibility and personalized service.
1. Select Home Loans
Overview
Select Home Loans stands out as the premier DSCR lender in Florida, offering flexible loan solutions tailored to meet the unique needs of real estate investors. They prioritize a streamlined approval process and provide competitive loan terms that cater to both seasoned and first-time investors.
Key Features:
- Flexible DSCR Requirements: Select Home Loans offers loans with a DSCR as low as 1.0, allowing investors to qualify even if their property’s cash flow is just enough to cover the debt.
- Loan Amounts: They provide financing options ranging from $100,000 to $5 million, making it ideal for small- and large-scale investors.
- Competitive Interest Rates: Borrowers can take advantage of competitive fixed and adjustable-rate options.
- No Personal Income Verification: The focus is entirely on the rental income generated by the property, eliminating the need for tax returns or pay stubs.
- Fast Closings: Their efficient underwriting process ensures that loans close quickly, helping investors capitalize on market opportunities.
Why Choose Select Home Loans?
Select Home Loans is known for its customer-first approach, offering personalized support and flexibility that many larger lenders lack. Their deep understanding of Florida’s real estate market allows them to offer tailored solutions that align with investors’ goals.
Website: SelectHomeLoans.com
2. Griffin Funding
Overview
Griffin Funding is a well-known name in the DSCR lending space, providing tailored financing solutions for real estate investors across Florida. Their loan products are structured to accommodate investors with complex financial profiles who want to leverage their rental income efficiently.
Key Features:
- Loan-to-Value (LTV) Ratios: Up to 80% LTV, allowing investors to maximize leverage.
- No Employment Verification: Focuses solely on rental income and property performance.
- Interest-Only Loan Options: Allows borrowers to minimize monthly payments and reinvest cash flow.
- Short-Term Rental Friendly: Works with Airbnb and vacation rental properties in high-demand Florida markets.
Why Choose Griffin Funding?
Investors who own short-term rental properties will find Griffin Funding’s programs particularly attractive due to their willingness to finance vacation homes and investment properties with fluctuating income streams.
Website: GriffinFunding.com
3. Angel Oak Mortgage Solutions
Overview
Angel Oak Mortgage Solutions is a top-rated DSCR lender in Florida known for its flexible underwriting and innovative loan products. Their DSCR loans are tailored for investors who need non-traditional financing solutions.
Key Features:
- Low DSCR Requirement: They accept DSCRs as low as 0.75 in some cases.
- 40-Year Fixed Interest-Only Options: Borrowers can take advantage of extended loan terms to reduce monthly payments.
- No Tax Return Requirement: Approval is based solely on the income potential of the property.
- Multi-Property Financing: Investors can finance multiple properties under one loan program.
Why Choose Angel Oak Mortgage Solutions?
Angel Oak is an excellent choice for investors looking to build large portfolios, as they offer financing for multiple properties without stringent personal income requirements.
Website: AngelOakMS.com
4. New Silver
Overview
New Silver offers a streamlined approach to DSCR loans with an emphasis on technology and quick approvals. They cater to both fix-and-flip investors and long-term rental property owners.
Key Features:
- Fast Pre-Approvals: Borrowers can get pre-approved within minutes through their digital platform.
- High LTV Ratios: Up to 85% of the purchase price for qualified investors.
- No Minimum Seasoning Requirement: Investors can refinance properties soon after acquisition.
- Nationwide Reach: Though based in Florida, they offer lending across multiple states, making it easy for investors to scale their portfolios.
Why Choose New Silver?
Investors who prioritize speed and efficiency in the loan process will appreciate New Silver’s technology-driven platform, which simplifies the application and approval process.
Website: NewSilver.com
5. Fidelity Home Group
Overview
Fidelity Home Group is a Florida-based lender specializing in DSCR loans for rental properties across the state. They have built a reputation for their personalized service and deep knowledge of Florida’s real estate market.
Key Features:
- Low Down Payment Requirements: With options as low as 20%, investors can leverage their properties with minimal upfront capital.
- 40-Year Interest-Only Options: Allows for maximum cash flow flexibility.
- Dedicated Loan Advisors: Personalized assistance throughout the entire loan process.
- Flexible Underwriting: They consider unique rental property scenarios to approve loans.
Why Choose Fidelity Home Group?
Fidelity Home Group stands out for its local expertise and commitment to helping Florida investors navigate the nuances of the market. Their tailored loan products are ideal for investors looking to expand within the state.
Website: FidelityHomeGroup.com
As Florida’s real estate market continues to attract investors, securing financing through Debt Service Coverage Ratio (DSCR) loans has become an increasingly popular choice. These loans focus on the rental income potential of a property rather than the borrower’s personal income, making them ideal for investors with multiple properties or unconventional income streams.
We’ve already covered the top five DSCR lenders in Florida, and now we’re diving into five more excellent lenders that provide flexible terms, competitive rates, and investor-friendly services. Additionally, we’ll discuss key criteria to help you choose the best DSCR lender for your needs.
6. First Florida Financial
Overview
First Florida Financial is a well-established lender offering a variety of mortgage solutions, including DSCR loans tailored to meet the needs of real estate investors. Their deep understanding of Florida’s unique market makes them a reliable choice for investors looking to expand their portfolios.
Key Features:
- Loan Amounts: Ranges from $150,000 to $3 million.
- Down Payment: Minimum 20% down required for most DSCR loans.
- No Tax Returns Needed: Focuses solely on property cash flow.
- Interest-Only Options: Flexible terms for maximizing cash flow.
- Multiple Property Financing: Ability to finance several properties under a single loan.
Why Choose First Florida Financial?
Their personalized service and investor-friendly terms make them a great option for both new and experienced investors looking to leverage their rental income efficiently.
Website: FirstFloridaFinancial.com
7. Tuss Financial Group
Overview
Tuss Financial Group specializes in DSCR loans for real estate investors, offering simplified application processes and a variety of flexible financing options. They cater to investors with unique needs and pride themselves on a quick turnaround time.
Key Features:
- Stated Income Loans: No need to provide traditional income documentation.
- Low DSCR Requirement: Willing to work with DSCR ratios as low as 1.0.
- 30-Year Fixed and Adjustable Rates: Customizable terms based on investment goals.
- Minimal Paperwork: Simplified application process with fast approval timelines.
- Experienced Loan Officers: Specialized guidance for investors navigating DSCR loans.
Why Choose Tuss Financial Group?
If you’re looking for a lender that values speed and efficiency, Tuss Financial Group is an excellent option. Their low-documentation loan options make them a perfect choice for investors with complex financial situations.
Website: TussFinancial.com
8. Visio Lending
Overview
Visio Lending is a national lender with a strong presence in Florida, offering DSCR loans tailored specifically for rental property investors. Their extensive experience in the market has made them a go-to choice for investors looking for long-term solutions.
Key Features:
- Loan Amounts: Ranges from $150,000 to $2 million.
- No Tax Returns Needed: Approval is based on property performance, not borrower income.
- Flexible Prepayment Options: Investors can exit loans early without heavy penalties.
- Portfolio Loans Available: Finance multiple properties under a single loan.
- Quick Closing Times: Closings as fast as 21 days.
Why Choose Visio Lending?
Visio is a great fit for investors who need fast approvals and scalable financing, especially those looking to grow their portfolios quickly across multiple properties.
Website: VisioLending.com
9. Easy Street Capital
Overview
Easy Street Capital provides specialized DSCR loan products for real estate investors in Florida, with a focus on delivering flexible terms and competitive interest rates. Their hands-on approach ensures that investors receive guidance throughout the loan process.
Key Features:
- Loan Terms: Up to 30 years, with both fixed and adjustable rates available.
- Low DSCR Ratios Accepted: Options available for DSCR ratios down to 0.75.
- No Personal Income Verification: Focuses strictly on rental income potential.
- Cash-Out Refinancing: Allows investors to tap into their equity for future investments.
- Customized Solutions: Loan structures designed to fit various investment strategies.
Why Choose Easy Street Capital?
Investors who need tailored solutions and cash-out options will benefit from Easy Street Capital’s investor-focused lending programs.
Website: EasyStreetCap.com
10. RCN Capital
Overview
RCN Capital is one of the nation’s leading private lenders, offering DSCR loans designed to help investors purchase, refinance, or cash out on rental properties. Their competitive rates and national reach make them a reliable option for Florida investors.
Key Features:
- Loan Amounts: Up to $2.5 million per property.
- Flexible Terms: Fixed and interest-only loan options.
- No Income Documentation: Loan approval is based on property revenue.
- Refinance & Purchase Options: Suitable for both new purchases and refinancing existing properties.
- Fast Funding: Pre-approvals within 48 hours.
Why Choose RCN Capital?
Their fast funding process and large loan amounts make RCN Capital a great choice for investors looking to scale their portfolios quickly.
Website: RCNCapital.com
What Makes a Good DSCR Lender?
Choosing the right DSCR lender is crucial to the success of your investment. Here are some key criteria to consider when evaluating lenders:
1. Competitive Interest Rates
A great DSCR lender offers competitive interest rates that allow you to maximize your cash flow. Compare both fixed and adjustable-rate options to see which suits your investment strategy best.
2. Flexible Loan Terms
Look for lenders that offer customizable loan terms, including interest-only options, to optimize your monthly cash flow and investment returns.
3. Low Down Payment Requirements
A lender with reasonable down payment requirements (typically 20-25%) enables investors to leverage their capital effectively and acquire more properties.
4. Speed of Approval and Closing
Time is critical in real estate investment. A lender with a quick approval and closing process can help you seize profitable opportunities without unnecessary delays.
5. Transparency and Support
Choose a lender that is transparent about fees, prepayment penalties, and loan terms. A good lender will also provide excellent customer support and guide you through every step of the process.
6. Experience with the Florida Market
Lenders familiar with Florida’s rental market can provide valuable insights into property values, rental demand, and local regulations, helping you make informed investment decisions.
7. Scalability
If you’re planning to grow your real estate portfolio, choose a lender that offers financing for multiple properties and portfolio loans.
Conclusion
Finding the right DSCR lender in Florida can make a significant impact on your investment success. Whether you’re looking for flexible terms, low interest rates, or fast approvals, the lenders listed above provide some of the best options available in the market.
If you’re ready to take the next step in your real estate investment journey, Select Home Loans remains the top choice for DSCR loans in Florida, offering tailored solutions and expert guidance to help you achieve your financial goals.
Visit SelectHomeLoans.com today to learn more about your DSCR loan options and start growing your investment portfolio.
