DSCR Loans in Florida: What Investors Should Know
A DSCR loan qualifies a rental on its rent rather than your personal income, and each lender sets its own terms. Florida is one of the busiest states for investor lending: lenders closed 47,867 loans on one- to four-unit investment properties there in 2025, second behind California, according to HMDA data. About 82% were flagged by the lender as primarily for a business purpose.
Last updated October 21, 2026Florida investor lending in 2025
Florida's investor loans had a median near $265,000. About 64% were purchases and 32% refinances, including 21% that were cash-out refinances. Investor loans made up about 10% of all the loans reported under HMDA in the state. These counts cover all investor lending, not DSCR loans alone. See investment property loans by state for every state.
Where investors borrowed
The 14 Florida counties with the most investor loans in 2025. Miami-Dade led by a wide margin, with a median near $375,000, against a median near $175,000 in Duval. In Osceola, 81% of investor loans were purchases.
| County | Investor loans closed | Median loan, about | Business-purpose | Purchase |
|---|---|---|---|---|
| Miami-Dade County | 5,932 | $375,000 | 86% | 57% |
| Broward County | 3,468 | $335,000 | 86% | 60% |
| Palm Beach County | 2,745 | $335,000 | 84% | 60% |
| Orange County | 2,673 | $275,000 | 83% | 67% |
| Lee County | 2,494 | $255,000 | 81% | 61% |
| Hillsborough County | 2,486 | $255,000 | 82% | 57% |
| Pinellas County | 2,365 | $295,000 | 85% | 61% |
| Duval County | 2,244 | $175,000 | 87% | 58% |
| Osceola County | 1,933 | $275,000 | 85% | 81% |
| Polk County | 1,914 | $215,000 | 81% | 74% |
| Sarasota County | 1,246 | $275,000 | 77% | 67% |
| Brevard County | 1,143 | $225,000 | 78% | 61% |
| Manatee County | 1,133 | $285,000 | 69% | 77% |
| Marion County | 1,099 | $195,000 | 80% | 69% |
1,080 Florida investor loans had no county in the public file and aren't shown.
How a DSCR loan works
The lender divides the property's rent by its full payment of principal, interest, taxes, insurance and any association dues. The DSCR programs we read publish limits that mean 15% to 25% down and credit minimums from 620 to 700. See DSCR loan questions, answered and how much down payment for a DSCR loan.
If the property will be a short-term rental
Check that short-term renting is allowed where the property is, including any local registration or license; Fannie Mae requires that for conventional loans. DSCR lenders set the rent for a short-term rental in different ways, from the appraisal's market rent to booking history or market data, and at least one sets different limits for it. See DSCR loans for Airbnb and short-term rentals.
What to ask a lender
- What ratio, down payment and credit score do you require on a Florida rental?
- Will you use the appraisal's market rent or my lease?
- Do you treat a short-term rental differently?
- Is there a prepayment penalty, and for how long?
How to read these numbers
They're loans that closed in 2025, from every lender reporting under HMDA, not today's offers and not FreeRateUpdate's activity. They count only loans the lender reported as closed-end and not a reverse mortgage; loans reported as exempt from either field are left out. Loan amounts in the public file are rounded to the midpoint of a $10,000 range, so medians are approximate. Business-purpose is the lender's own HMDA flag, not a DSCR label.
| Investor loans closed | 47,867 (second most of any state) |
|---|---|
| Median loan | About $265,000 |
| Business-purpose share | About 82% |
| Purchase vs. refinance | 64% purchase, 32% refinance |
| Most investor loans | Miami-Dade, Broward, Palm Beach |
Related questions
Sources
- https://ffiec.cfpb.gov/data-browser/
- https://ffiec.cfpb.gov/documentation/publications/loan-level-datasets/lar-data-fields
- https://ffiec.cfpb.gov/documentation/publications/modified-lar/resources/data-dictionaries/mlar-dd-2018-onward
- https://selling-guide.fanniemae.com/sel/b3-3.8-03/rental-income-subject-property-short-term-rental
- https://www.kiavi.com/loans/dscr
- https://www.griffinfunding.com/non-qm-mortgages/dscr-loans/
- https://limaone.com/rental/detail/
Sourced from licensed loan officers and brokers in the FreeRateUpdate network.
Educational information only, not individualized financial or legal advice. Program details and rates change; verify current terms with a licensed loan officer before making a decision.