DSCR (Debt Service Coverage Ratio) refinance is the go-to product for Florida investment property and vacation rental owners who want to pull equity without personal income documentation. The property qualifies based on rental income alone — no W-2s, no tax returns, no personal DTI calculation.
What DSCR refinance offers
- Qualify on rental income only — no personal income docs
- Cash-out up to 75–80% LTV
- Rate-and-term up to 80% LTV
- Close in an LLC — most programs allow (and prefer) LLC ownership
- Short-term rental income accepted on many programs
- No limit on number of financed properties on most DSCR lenders
- Foreign national and ITIN borrowers eligible on select programs
Where DSCR refinance works best in Florida
Vacation rental / short-term rental markets: Orlando (Kissimmee, Celebration, Lake Nona), Destin, 30A, Panama City Beach, Naples, Marco Island, Sarasota, Fort Myers Beach, Key West, and the Keys. STR income is typically underwritten via AirDNA or comparable market data.
Long-term rental markets: Tampa, Jacksonville, Cape Coral, Fort Lauderdale, Miami metro. Long-term rental income is verified via lease and rent survey.
Florida-specific notes
- Coastal insurance requirements apply — start hazard, wind, and (where applicable) flood insurance quotes the day the refi begins
- Non-warrantable condos in coastal Florida can still qualify for DSCR — a common workaround when conventional condo review fails
Cash-out use cases
- Down payment on the next investment property
- Portfolio expansion in a new market
- Renovations or additions that increase rental income
- Debt consolidation at a lower blended rate
FAQs
Can I use short-term rental income for a DSCR refi in Florida?
Yes — most DSCR lenders now underwrite short-term rental income via 12-month AirDNA or comparable market analysis. This is especially useful for Orlando, Naples, Destin, 30A, and Keys vacation rental owners.
Can I close in an LLC?
Yes — most DSCR programs allow (and prefer) closing in an LLC. Existing personal-name titles can be moved into an LLC at closing.
Do I need tax returns for a DSCR refi?
No. DSCR qualification uses property rental income vs. property expenses (PITIA). Personal income, W-2s, and tax returns are not required.
Does refinancing affect my Florida homestead exemption?
Homestead exemption only applies to your primary residence, which is not eligible for DSCR financing. DSCR is investment-property only, so homestead is not part of the analysis.
Related: DSCR loans overview · Investment property loans Florida · Refinance Florida hub · Cash-out refi to buy investment property