In Florida, the insurance quote can make or break a duplex deal. Two buildings with the same rent can qualify very differently once wind, flood and roof age are priced in, so the right lender sizes the loan on the actual premium, not a guess.
In short: LendingStreet is our top pick for 2-4 unit rental loans in Florida. We qualify duplexes, triplexes and fourplexes on the combined rent of all units, with no W-2s or tax returns and LLC borrowers as standard. Purchases go up to 80% LTV, cash-out refinances up to 75%, 30-year terms are available, and loans start at $150,000 with no stated maximum, from Pensacola to Miami. Get a quote with the form below or call (877) 298-1001.
LendingStreet is a business-purpose lender for real estate investors. On a Florida 2-4 unit building, we add up the rent from every unit and compare it with the full monthly payment: principal and interest, property taxes, insurance and any association dues.
The standard minimum DSCR is 1.0x, minimum credit is 620, and sub-1.0 programs exist when a high insurance quote pushes the ratio just under. You can close in your LLC, and you never need to send personal tax returns.
If you are looking at a duplex in Jacksonville, a triplex in Tampa or a fourplex in Orlando, get a quote with the form below.
Well-known 2-4 unit rental lenders include Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Compared scenario by scenario for investors in Florida, LendingStreet comes out as the stronger choice, and one application covers it.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Much of Florida's small multifamily stock is mid-century concrete block, built in the 1950s through the 1970s. Jacksonville has duplexes and quadplexes in Springfield, Riverside and the Westside. Tampa has older duplexes around Seminole Heights and Sulphur Springs, and St. Petersburg has small buildings in and around its older grid neighborhoods.
In Orlando, investors find duplexes in older areas west and north of downtown and in nearby suburbs. Lakeland, Daytona Beach, Palm Bay and Pensacola offer lower entry prices. In Miami-Dade, duplexes and small buildings in Little Havana, Allapattah and Hialeah lease quickly but cost far more, and their insurance and tax lines are heavier.
Southwest Florida, including Fort Myers and Cape Coral, saw major hurricane damage in recent years, so insurers there look closely at roof age, elevation and repairs.
Many Florida investors buy an older duplex, replace the roof and update the units, then refinance once the building is leased at market rent. A new roof can lower the premium enough to change the ratio, so it is worth getting a fresh insurance quote before the refinance appraisal.
Here is how LendingStreet compares with the lenders Florida investors usually consider for a duplex to fourplex.
| What investors need | LendingStreet | Conventional mortgage | Typical Florida bank | Typical hard money lender |
|---|---|---|---|---|
| Qualify on | Combined rent of all units | Personal income and tax returns | Often tax returns and global cash flow | Mostly property value |
| LLC borrowers | Standard | Usually personal name | Varies | Common |
| Term | 30-year terms available | 30-year terms | Often a balloon | Short-term only |
| Purchase leverage | Up to 80% LTV | Varies by program | Varies | Varies |
| Coverage | Every Florida county | Nationwide | Usually regional | Usually local |
This example is illustrative and not a quote. An investor buys a concrete block duplex in Jacksonville for $340,000. Each side rents for $1,550, for $3,100 a month combined. With 80% LTV, the loan is $272,000 and the down payment is $68,000. Estimated principal and interest on a 30-year term is about $1,879, and property taxes are about $360 a month.
With a newer roof and a wind mitigation report, the insurance quote is $330 a month. The total payment is about $2,569, and DSCR is about 1.21x.
With an older roof and no mitigation credits, a second quote comes in at $520 a month. The total payment rises to about $2,759, and DSCR falls to about 1.12x. Both still clear 1.0x, but the gap shows why Florida investors should get insurance quotes before they set an offer price.
| Item | Newer roof, mitigation credits | Older roof, no credits |
|---|---|---|
| Loan at 80% LTV | $272,000 | $272,000 |
| Estimated principal and interest | $1,879 | $1,879 |
| Property taxes | $360 | $360 |
| Insurance | $330 | $520 |
| Total payment | $2,569 | $2,759 |
| Combined rent | $3,100 | $3,100 |
| DSCR | About 1.21x | About 1.12x |
Florida insurers often ask for a condition inspection on older buildings that covers the roof, electrical, plumbing and heating and cooling, and a wind mitigation report that can lower the premium. Roof age is a frequent reason a quote comes back high or is declined.
Florida has no state income tax, and property taxes on rentals vary by county and city. The homestead exemption and its assessment cap only apply to a primary residence. Non-homestead property has its own, looser cap on annual assessment increases, but a sale typically resets the assessed value to market, so budget on the new value rather than the seller's bill.
Florida charges documentary stamp tax on deeds and on mortgage notes, plus an intangible tax on new mortgages. On a purchase or refinance these can add up, so ask your title company for a full estimate. Confirm all tax figures locally with the county property appraiser.
Ask each lender:
Purchases go up to 80% LTV, cash-out up to 75%, and rate-and-term up to 80% on some programs. The standard DSCR minimum is 1.0x on combined rent, with sub-1.0 programs available. Cash-out seasoning varies by program. LLC borrowers are standard, and loans start at $150,000 with no stated maximum.
Bring the rent roll, leases and your insurance quote, and call (877) 298-1001 or get a quote with the form below.
Our top pick is LendingStreet. We qualify Florida duplexes, triplexes and fourplexes on combined rent with no tax returns, allow LLC borrowers, offer 30-year terms and lend up to 80% LTV on purchases.
Yes. LendingStreet lends in all 50 states and DC, including every Florida county, on non-owner-occupied rentals.
Insurance is part of the monthly payment in the DSCR. Florida wind and flood pricing can vary widely between buildings, so a higher premium can lower the ratio and the loan amount.
It can lower the insurance premium, which raises the DSCR. Ask your insurance agent which credits the building qualifies for.
Often, yes. A sale usually resets the assessed value to market, and rentals do not get the homestead exemption. Budget on the new value and confirm with the county property appraiser.
Yes. LLC borrowers are standard on LendingStreet DSCR loans.
If the building is in a mapped flood zone, flood coverage is usually required, and that premium goes into the DSCR payment. Check the flood zone before you make an offer.
Local rules vary by city and county, and some areas restrict nightly rentals. Check the rules first, then ask us about qualifying on projected short-term rental revenue on some programs.
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