This article reviews the seven best DSCR lenders in Florida, evaluating closing speed, reliability, and LTV.
DSCR or debt-service coverage ratio loans are financing options underwritten based on a property's ability to generate enough rental income to pay its monthly debt obligations.
For example, if a rental property cash flows at $1,200 and has $1,000 in monthly payments (mortgage payments, insurance, and property taxes), its DSCR or debt service coverage ratio, would be 1.2.
A DSCR above 1.0 is considered healthy as it shows that the property earns enough rental income to cover all expenses. However, lenders like Constitution Lending can finance properties with a DSCR as low as 0.75.
Unlike conventional loans, DSCR loans don't require income verification, tax returns, or a low debt-to-income (DTI) ratio. With less paperwork, they also close much faster, making them perfect for real estate investors with large portfolios, high DTI ratios, or non-W2 income.
That said, borrowers should carefully assess the lender they partner with. It can mean the difference between closing quickly and beating a cash buyer to an undervalued property or dealing with a lender that can’t close. Here are two ways to assess a lender's quality.
Below, we evaluate seven of the best DSCR lenders in Florida.
We first start by talking about ourselves, Constitution Lending, and how we close quicker and more reliably than most DSCR lenders.
We then look at the processes of other lenders that serve Florida — Griffin Funding, Visio Lending, Angel Oak, Easy Street Capital, Stratton Equities, and BridgeWell Capital — so you can gain a comprehensive understanding of the best options.
Use our Florida DSCR loan pricer to generate a quote within seconds and see what interest rate and terms you qualify for.
Constitution Lending is a direct DSCR lender that operates in most U.S. states, including Florida.
We founded Constitution Lending after over a decade of experience as real estate investors frustrated by slow lenders. Most claim they can close within 14 to 21 days, but in reality, it almost always takes more than 40 days.
In addition, most "lenders" were actually loan brokers connecting us with third-party lenders. This was a problem because these brokers had to submit our application to the lender and didn't know if we qualified until after the lender had finished underwriting, causing last-minute complications.
We started Constitution Lending to fix these problems. We do this by being a direct lender and using tools like our DSCR pricer and documents portal to close quickly.
Here’s what borrowers say about our application and closing processes.
Most lenders require borrowers to fill out a contact form on their website, wait several days for a loan officer's call, and spend an hour answering multiple questions. They must then wait a few more days to receive a quote, term sheet, and approval letter before submitting documents.
Constitution Lending expedites this process with our automated DSCR pricer. You can obtain instant quotes by entering the loan amount, LTV, property's location, asking price, and estimated rental income:
Feel free to experiment with different property values and loan scenarios to understand how they influence your quotes.
If a particular quote stands out to you, select it, type in your full name and email address, and download a term sheet and loan approval letter.
We’ll give you access to our online documents portal, which outlines all the required paperwork and lets you submit everything in one go. This includes ID, bank statements, entity documents, purchase contracts, and proof of insurance.
We fund your loan a week after you submit all the paperwork.
Since we're a direct lender, we can give you a clear yes or no immediately after you submit documents, significantly reducing the likelihood of last-minute complications.
Read more: DSCR Loan Requirements: 5 Key Factors Lenders Consider
We are the lender and can create our own requirements, so we know if you qualify as soon as you submit paperwork via our portal. Unlike brokers, we do not need to submit your application to a third-party lender and wait weeks for them to finish underwriting before giving you an answer.
This means that you’ll know if you qualify almost immediately after submitting documents. Should there be any problems with your application, we will let you know so you can focus on resolving it rather than wasting weeks on a loan that won’t close.
Compare this process to loan brokers, who act as intermediaries between you and a third-party lender. They aren’t lending you the capital, so they only know if you qualify after the lender has underwritten. If you are already weeks into underwriting and the lender finds a problem, it leads to those last-minute rejections.
We have experienced these frustrations firsthand, which is why we emphasize quick, upfront communication.
Constitution Lending has originated over $200 million in loans throughout Florida and across the US.
The differentiators mentioned above have made us the go-to lending partner for real estate investors, with over 90% of our borrowers returning for multiple loans and many completing 5 to 10 deals per year with us — proof that experienced investors trust our speed, reliability, and competitive terms.
We regularly lend to borrowers in Miami, Orlando, Tampa, and various other cities in Florida.
You can use our automated DSCR loan pricer to price out different loan scenarios and receive instant quotes.
Griffin Funding is a mortgage lender that offers DSCR loan options to borrowers in Florida and several other U.S. states. In addition to DSCR loans, they provide fix and flip loans, bank statement loans, VA home loans, and asset-based loans.
Note: Griffin Funding doesn't offer an automated pricer, so you cannot get a quote without talking to a loan officer, delaying closing.
Borrowers can pre-qualify for a loan on the Griffin Funding website by filling out a contact form and providing a loan officer with details about the property they wish to purchase.
Visio Lending is a private lender that operates in Florida and many other U.S. states. They offer 30-year DSCR loans as well as vacation rental loans that can be used to purchase Airbnb properties.
They also offer commercial loans, hard money loans, and refinancing options, ideal for investors looking to fix and flip properties or bridge the gap between buying and selling.
Note: Although Visio Lending claims fast closing times, they don’t have an automated pricer or documents portal, which can delay the application and closing process.
Borrowers must fill out and submit an application on Visio Lending’s website. Then, a loan officer will phone them to learn more about the deal and provide a rough estimate. From here, borrowers can send documents to the loan officer and close.
Angel Oak Mortgage Solutions is a non-QM wholesale lender that offers DSCR loan options to professional real estate investors based in Florida and who struggle to qualify for financing at large banks. They also lend to borrowers in other U.S. states, including California and Atlanta.
In addition to DSCR loans, Angel Oak also offers jumbo loans, closed-end second mortgages, and bank statement loans.
Note: Angel Oak is another mortgage lender who doesn’t have an automated DSCR loan pricer, so it’s unclear how long you’ll wait before receiving a quote.
Borrowers can apply by visiting the contact page on Angel Oak’s website and providing details about the deal such as loan amount, approximate DSCR, net operating income (NOI) and preferred closing time. A loan officer will reach out to continue the application process.
Easy Street Capital is a private real estate lender tailored for property investors with high DTI ratios. Easy Street Capital has a DSCR loan program called EasyRent, where borrowers can apply for funding without having to worry about their personal finances — just the DSCR of the property.
Note: We are unsure how quickly Easy Street Capital can close because they don’t provide tools like an automated pricer and documents portal to streamline application processes.
You can qualify by requesting a term sheet on the Easy Street Capital website, giving information about the purchase or refinance (i.e., loan amount, estimated value, property’s income potential, location, etc.) and a loan officer will call you.
Stratton Equities is a hard money lending firm based in Connecticut, but who specializes in providing real estate backed financing across the Eastern U.S.
Stratton Equities provides financing solutions to self-employed borrowers who may not qualify for conventional mortgage loans. The company offers a broad range of loan products, including fix-and-flip loans, bridge loans, blanket loans, and DSCR loans.
Side note: Stratton Equities doesn’t offer instant loan documents; you need to jump on a call with a loan officer to get a quote.
There are two methods to apply for a private money loan with Stratton Equities. You can either contact a loan officer directly by phone or fill out a loan application form on their website. After entering basic information about the loan and property, a loan officer will reach out to you.
BridgeWell Capital is a real estate investment lender catering to investors in need of fast financing. Operating across much of the Midwest and Eastern U.S., including states like Florida, Connecticut, Texas, and Colorado, BridgeWell serves a wide range of investors.
In addition to DSCR loans, borrowers can borrow up to $2M to purchase, fix, and flip investment properties.
Side note: It’s unclear how quickly BridgeWell can close because they don’t offer instant loan documents.
To begin the loan process with BridgeWell, you can get pre-qualified by completing a questionnaire on their website. The form asks for details such as the loan product you're interested in, the property's purchase price, your credit score, and your real estate experience.
A loan officer will then contact you within three days to provide a term sheet and request additional documents, including proof of insurance, credit report, and bank statements.
See what LTV and interest rates you qualify for using our DSCR loan pricer.
Related reads:
| Qualification | Requirement |
|---|---|
| Minimum and maximum loan amount | $150,000 to $3,000,000 |
| Type of property | Non-owner occupied single-family, multi-family, and 5-8 unit properties |