Question 1

How much should I budget for property insurance on a Duval County rental?

Accepted Answer

Less than almost anywhere else in Florida, but budget the county, not the state average. As of March 31, 2026, Duval County's average homeowners premium including wind coverage was $2,786, and Clay County's was $2,540, both well under Hillsborough ($3,525), Orange ($3,610), Pinellas ($4,063) and Broward ($6,136). Nassau County, the barrier-island county, runs higher at $3,051. On a conventional file the insurance line goes straight into your qualifying ratio, so price the actual county before you commit, not a metro-wide figure.

Question 2

My Duval County rental isn't in a mapped flood zone. Do I still need flood insurance?

Accepted Answer

Possibly, and the answer runs through your insurer, not the flood map. Citizens Property Insurance Corporation now requires flood coverage on any personal-lines residential policy that carries wind coverage, phased in by dwelling replacement cost through January 1, 2027, and Citizens states the requirement applies regardless of flood zone. Citizens does not sell flood itself, so the coverage has to come from the NFIP or a private carrier. If your policy is with Citizens, plan for a flood premium in your carry math even on a parcel outside a Special Flood Hazard Area.

Question 3

What will my Duval County property tax escrow actually run?

Accepted Answer

Roughly 17.2 to 19.0 mills depending on which urban services district your parcel sits in, and about a third of that bill has no assessment cap at all. Duval's five districts, from Atlantic Beach at 17.2004 mills to the Town of Baldwin at 18.9701, with the old City of Jacksonville and the general services district both at 17.7412, sit in a tighter band than most Florida metros because the consolidated city-county government leaves no cheaper unincorporated pocket to shop for. As an investor you're assessed on the 10 percent non-homestead cap, not the homestead cap, and Florida Statutes section 193.1554 exempts school district levies from that cap entirely. Schools are 6.3430 of Duval's 17.7412 mills, so roughly 36 percent of your bill is reassessed at full market value every single year regardless of how the cap treats the rest.

Question 4

I'm buying in Clay, St. Johns or Nassau County instead of Duval. Does the escrow math change?

Accepted Answer

Yes, and not always in the direction you'd expect. Unincorporated Clay County's 15.2523 mills is the cheapest rate in the metro, roughly 2.5 mills below Duval, and covers investor-heavy Middleburg and Fleming Island. St. Johns County investors have been paying a full extra mill since 2025 after a voter-approved school levy raised the district's rate from 5.278 to 6.272 mills, and because it's a school levy the non-homestead cap gives no protection from it. Pull the actual county estimator for the parcel, Duval's at taxcalc.coj.net, rather than pricing the deal off a single metro-wide rate.

Question 5

My tax returns won't fully document my income. Is conventional still the right fit for a Jacksonville rental?

Accepted Answer

Not if the file can't support it, and that's fine, because the local numbers still favor holding here. Single-family rents in the metro hit a record $2,102 a month in June 2026, up 2.5 percent year over year, while home values were down only 1.1 percent over the same period, the shallowest drawdown of Florida's three big metros in our research. That combination supports a hold either way; the question is just which structure gets you there. If your income doesn't fully document, our DSCR rental loan qualifies on the property's cash flow instead, and we'll run both structures side by side before you decide.

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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