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Program 02
Rental / DSCR in Florida
DSCR rental loans qualified on the property, not your tax returns.
Qualify on the rental income the property produces. No personal income documentation, no tax returns, no employment verification. In Florida the number that decides your coverage ratio is usually the tax line, because it resets the year after you buy. Business-purpose only, and every structure is set in underwriting.
0.75
min DSCR
5.5%
rates from
30-yr
fixed avail.
80%
max LTV
Typical figures, subject to underwriting and market conditions. Not a commitment to lend.
How it works
No tax returns or personal income docs in most cases. We qualify on the property's cash flow, so you can scale your portfolio without the paperwork drag of conventional lending.
Who it's for
Buy-and-hold investors
Single rentals and portfolios
Short-term rentals considered
Rate/term and cash-out refi
Typical terms
Loan amount$100K to $3M
Max leverageUp to 80% LTV
DSCRFrom 0.75
CreditFrom 640
Term30-yr fixed / 5-7-10 ARM
RateFrom 5.50% IO*
PrepayFlexible structures
*Typical terms, subject to underwriting and market conditions.
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Local FAQ
Rental / DSCR in Florida, answered.
Why does my Florida tax bill jump the year after I buy?
Because the assessment cap resets on transfer, and the seller's bill is not your bill. Florida caps annual reassessment increases at 10 percent on nonhomestead residential property with nine or fewer dwelling units under section 193.1554, and on everything else under section 193.1555. Both sections define the reset trigger as any sale, foreclosure, or transfer of legal or beneficial title. So the first full year after you buy is assessed at just value with no carryover, and a seller who held for a decade under the cap has a bill that systematically understates yours. This is the single most common way a Florida DSCR pro forma comes in wrong. Underwrite the tax line at just value, not the seller's bill, and pressure-test it on the DSCR calculator. Talk to a Florida CPA about your specific parcel.
Does the 10 percent cap protect me once I own it?
Less than you have been told. It does not cover school district levies. Sections 193.1554(3) and 193.1555(3) both apply the 10 percent limit for all levies other than school district levies, and school millage is usually the largest single line on a Florida tax bill. So "my assessment can only rise 10 percent a year" is materially wrong as a coverage assumption. The cap is also lost on change of ownership or control: both sections treat the cumulative transfer of control, or of more than 50 percent of the ownership of the legal entity, as the same trigger as a sale. If you plan to bring in partners at the LLC level after closing, that is a tax event for the assessment, not just a cap-table event. Assessment date is January 1. Confirm the arithmetic with your CPA.
Can I appeal a Florida assessment, and when?
Yes, and the window is short and not a fixed calendar date. Section 194.011(3)(d) requires a value petition to the county Value Adjustment Board on or before the 25th day following the mailing of the notice by the property appraiser. That notice is the TRIM notice, mailed in August, and because the mailing date moves, the deadline moves. So the instruction is watch for the TRIM notice, never "appeal by a set date." Exemption and classification denials get 30 days instead. An informal conference with the appraiser is available and is expressly not a prerequisite to review. On a portfolio spread over several counties, the notices arrive on different days, so this is a calendar item you assign to someone rather than one you remember.
Is there a way to lower the Florida tax line I do control?
Yes. Pay in November. Section 197.162 sets a discount schedule on the annual bill: 4 percent in November, 3 percent in December, 2 percent in January, 1 percent in February, and zero in March. On a $9,000 Florida tax bill, paying in November instead of March saves $360 (9,000 x 4% = 360). That is a free 4 percent for a calendar habit, and on a held rental it is worth writing into the escrow instruction rather than leaving to the servicer's default. Unpaid taxes become a tax certificate auctioned to the bidder demanding the lowest rate of interest under section 197.432, which is not a position you want to be in on a leveraged rental.
Will I be forced to carry flood insurance on an inland Florida rental?
Possibly, and the trigger is your insurer rather than your flood zone. Citizens Property Insurance is phasing in a flood requirement for personal-lines residential policyholders with wind coverage, keyed to dwelling replacement cost: $600,000 and up from 2024, $500,000 and up from 2025, $400,000 and up from 2026, and all remaining personal-lines residential property required to obtain it from 2027. So a well-inland Florida rental placed with Citizens can still be pushed into a flood premium your coverage ratio never modelled. Citizens is also rationed: a new policy is ineligible if a private insurer offers coverage not more than 20 percent above the Citizens premium. Get a bound quote on the address before you set the DSCR. Insurance pricing itself varies sharply by metro, so read Tampa or Fort Myers for coastal context.
What does Florida condo law do to a DSCR file?
It adds two documents you now have to produce, and it is state law rather than a local ordinance. Section 553.899 requires a milestone inspection for condominium and cooperative buildings three habitable stories or more in height by the year the building turns 30, or 25 where the local enforcement agency finds environmental conditions such as proximity to salt water warrant it, then every 10 years, with a phase two within 180 days if phase one finds substantial structural deterioration. Section 718.112(2)(g) requires a structural integrity reserve study at least every 10 years for the same buildings, and for budgets adopted after December 31, 2024 an owner-controlled association may not vote to fund no reserves or less than required. Waiving reserves is no longer available. A Florida condo DSCR file needs the milestone report and the SIRS, and it needs an assessment forecast that assumes funded reserves.
What credit score do I need for a Florida DSCR loan?
Credit starts at 640 on this program. That is a real floor, unlike our asset-based loans, because a 30-year rental loan is priced off the borrower as well as the property. There is no hard credit pull to start a Florida file. The ratio itself is the other gate: we work from a DSCR of 0.75, so a property that does not fully cover debt service is still a conversation, generally answered with lower leverage. Subject to underwriting.
How much do I need to put down on a Florida DSCR loan?
Twenty percent, because we go up to 80% LTV. On a $400,000 Florida rental that is $320,000 from us and $80,000 from you (400,000 x 80% = 320,000). Budget the Florida closing taxes on top: 0.7 percent deed stamps and 0.55 percent on the loan amount, which on that $320,000 loan is $1,760 (320,000 x 0.55% = 1,760). Loan size runs $100,000 to $3,000,000, on a 30-year fixed or a 5, 7, or 10-year ARM, with flexible prepay structures. Expect 2 to 3 weeks to close. Subject to underwriting.
Can I get a Florida DSCR loan on my first rental?
Yes, and the property carries most of the file. There is no personal income documentation, no tax returns, and no employment verification, so a first-time landlord is underwritten on the rent, the credit score, and the leverage. Credit from 640 and a DSCR from 0.75 are the gates. Title it in an entity, because Florida lending law turns partly on whether the borrower is a natural person. Subject to underwriting.
More Rental / DSCR questions, answered on the program page
Resources
Guides for Rental / DSCR
Rental / DSCR · 5 min read
What Is a DSCR Loan? How Investors Qualify on Rental Income
Read the guide Strategy · 6 min read
Financing the BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat
Read the guide Rental / DSCR · 5 min read
DSCR vs Conventional Loan: Which Is Better for Investment Property?
Read the guide Rates & Costs · 5 min read
Hard Money Loan Rates and Costs, Explained
Read the guide More in Florida
Other programs in Florida
Fix and FlipUp to 90% / 100% rehabGround-Up ConstructionUp to 70% LTV, most statesCRE BridgeUp to $10M, 24-36 moTransactional FundingSame-day double-close capitalBank Statement / No-DocNo tax returns requiredConventional InvestmentNon-owner-occupied investmentPortfolio LoansMultiple properties, one loanCRE PermanentLong-term agency & permSBA Financing7(a) & 504 placement
About the local figures on this page
Local rules move. Every tax rate, fee, ordinance and market figure here comes from a primary source and carries the date we read it, and we correct them as the rules change. Where a number is mid-change or we could not verify it, we say so rather than guess. Before you commit a budget, confirm anything that drives it with the city or county, and talk to your attorney or CPA on questions of law or tax.
Published by USA Mortgage Funding, LLC, NMLS #152588. Researched from primary sources by our team, drafted with AI assistance, and every figure checked against its source before publishing. Where an answer rests on a public record, that record is linked under it. Figures read on 2026-08-23.
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