Question 1

Can I get a conventional loan on a Fort Lauderdale condo right now?

Accepted Answer

Only if the building has cleared Florida's milestone inspection and reserve requirements. Condominiums three habitable stories or taller must complete a milestone inspection at 30 years, and a structural integrity reserve study was due by December 31, 2025 (extendable to December 31, 2026 if paired with the inspection). Associations can no longer waive reserves for the items that study covers. A building with an incomplete inspection, an underfunded reserve, or an active special assessment can be ineligible for conventional, FHA and VA financing, and Broward's older coastal condo stock sits squarely in that window: countywide condo values are down 19.6 percent from their January 2024 peak and still falling at 8.4 percent a year, the steepest decline of the three South Florida counties. If your building doesn't clear, a DSCR loan is usually the faster path to closing.

Question 2

Is my building on the 25-year milestone inspection clock because it's near the coast?

Accepted Answer

Not automatically, and the old three-mile rule is gone. The three-mile coastal trigger from the original 2022 law was repealed. Current Florida law sets a single statewide milestone inspection clock at 30 years for condominiums and cooperatives three habitable stories or taller, with a local option that lets a local enforcement agency require the earlier 25-year inspection where environmental conditions such as proximity to salt water warrant it. Whether any Broward jurisdiction has adopted that local option isn't confirmed by any public source we have, so check directly with the building's association and the city or county building department before you rely on a 25-year or a 30-year date.

Question 3

What's the documentary stamp tax on a Fort Lauderdale purchase?

Accepted Answer

The standard statewide rate, not Miami-Dade's surtax. Broward County charges 70 cents per $100 of consideration on the deed and 35 cents per $100 on the note and the mortgage, the same rate as most of Florida. Miami-Dade is the only county that adds a discretionary surtax on top of its deed stamp, and that surtax doesn't apply here. Budget the standard rate on both legs of the transaction and don't let a Miami-Dade quote get applied to a Broward closing.

Question 4

How much should I budget for property tax as an investor here?

Accepted Answer

More than the seller was paying, and it varies a lot by city. As a non-homestead owner you get Florida's 10 percent annual assessment cap, but it resets to full market value in your first tax year, so you inherit none of the seller's capped basis. 2025 final millage across Broward ranges from about 16.28 mills in Weston to 23.19 in Lauderdale Lakes, with Fort Lauderdale itself at 18.45, roughly 1.84 percent of assessed value. That's close to a $2,800 swing on a $400,000 assessment depending which city the parcel sits in, so price the specific address on the Broward County Property Appraiser's site before you underwrite the deal.

Question 5

Will insurance wreck the numbers on a Fort Lauderdale rental?

Accepted Answer

It's the line that decides whether the deal pencils, so run it before you make an offer. Broward's average homeowners premium including wind was $6,136 as of March 2026, versus $3,008 excluding wind, more than double inland Lake County's $2,650. On a typical Fort Lauderdale rental renting near $2,794 a month, that premium alone runs about 2.2 months of gross rent a year. Part of the reason: property claims in the Broward, Miami-Dade and Palm Beach region are litigated at a 27.27 percent rate, versus 8.16 percent in the rest of Florida. Get a real quote before you finalize your conventional debt-service numbers, not a statewide average.

Question 6

What is a conventional investment property loan?

Accepted Answer

It is standard, competitively priced financing for a non-owner-occupied investment property, the long-term loan you take when your file fits the conventional box. It usually carries a lower rate than a bridge or DSCR loan, in exchange for full documentation.

Question 7

How is it different from a DSCR loan?

Accepted Answer

A conventional loan qualifies on your documented personal income and credit, while a DSCR loan qualifies on the property's rent. Conventional pricing is often lower if you can document your income and you are within the limit on financed properties; DSCR is easier to scale and skips the income docs. We compare both and put you in the one that fits.

Question 8

How much do I need to put down?

Accepted Answer

Plan on roughly 20% to 25% down on an investment-property purchase, with the best pricing at lower leverage and higher credit. Cash-out refinances are typically capped a bit lower than purchases.

Question 9

What credit score do I need?

Accepted Answer

Conventional investment financing generally wants a credit score around 580 or higher, and your rate improves meaningfully as your score and reserves go up. We will tell you up front where your file lands.

Question 10

What can I use it for?

Accepted Answer

Purchases, rate-and-term refinances, and cash-out refinances on non-owner-occupied 1-4 unit investment property. If you will live in the property, that is owner-occupied financing, which we refer to a trusted partner rather than originate here.

Question 11

What documents are required?

Accepted Answer

Because it is fully documented, expect to provide income verification, tax returns, bank statements, and the standard conventional paperwork. If that documentation is a hurdle, our DSCR and bank-statement programs are the no-tax-return alternatives.

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