Miami-Dade rentals have built serious equity, but insurance and taxes can eat into how much of it you can pull. The right DSCR cash-out is sized on what the rent can carry after windstorm coverage, not just on the appraisal.
In short: LendingStreet is our top pick for a DSCR cash-out refinance in Miami. We go up to 75% LTV on 1-8 unit rentals, qualify on the property's rent instead of tax returns, and run the ratio on realistic Florida insurance so there are no late surprises. LLC borrowers are standard and loans start at $150,000 with no stated maximum. Get a quote with the form below or call (877) 298-1001.
LendingStreet is a business-purpose lender built for real estate investors. Our DSCR cash-out refinance lets you pull equity from a non-owner-occupied rental in Miami, FL based on what the property earns.
It fits investors who own one rental or dozens, who hold property in an LLC, and who would rather not hand over tax returns. The next step is simple: get a quote with the form below or call (877) 298-1001.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital for a DSCR cash-out refinance loan for investors in Miami, FL, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
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. |
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| 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. |
Investors in Miami usually weigh three or four kinds of lenders for a cash-out. Each has a place, but they are built for different jobs.
For a long-term rental refinance, the deciding questions are how you qualify, how much equity you can pull and whether the loan can stay in place for 30 years. That is where LendingStreet stands apart.
| What investors need | LendingStreet | Typical local bank or credit union | Typical local hard money lender |
|---|---|---|---|
| How you qualify | Property's rent; no W-2s or tax returns | Often tax returns and personal debt-to-income | Mostly the asset; documents vary |
| Cash-out leverage | Up to 75% LTV | Varies; often conservative on rentals | Varies by lender |
| Loan term | 30-year terms available | Often shorter terms or balloons | Usually short-term only |
| Borrowing in an LLC | Standard | Sometimes, with extra steps | Common |
| Loan size | From $150,000, no stated maximum | Varies by bank | Varies |
| Where they lend | All 50 states and DC | Usually a local footprint | Usually local |
Single-family homes and small multifamily buildings in Little River, Allapattah, Little Havana, Shenandoah, Westchester and North Miami lease steadily, and many were bought well below today's values. Hialeah, Miami Gardens, Cutler Bay and Homestead offer more affordable rentals with strong tenant demand.
Condos in Brickell, Edgewater and downtown are common investor holdings, but they come with their own review: association finances, reserves, leasing rules and any special assessments.
Duplexes, triplexes and small 5-8 unit buildings are common in older neighborhoods, and they can refinance on combined rent.
Rents in Miami-Dade have risen significantly in recent years, and many owners now collect far more than they did at purchase. Updated leases at today's rent, supported by the appraiser's rent schedule, are usually what make a Miami cash-out work after insurance.
Florida charges documentary stamp tax on new notes and an intangible tax on new mortgages, so a cash-out refinance carries state taxes that a refinance elsewhere may not. Ask your title company for the exact figures on your loan amount.
Rentals do not get the homestead exemption. Non-homestead property has a cap on yearly assessment increases, but the value resets when the property sells, so a rental you bought recently may have a larger bill than the prior owner's. Use your own bill.
Insurance is often the biggest swing factor in a Miami DSCR. Wind coverage, the age of the roof, impact windows and shutters all move the premium. Much of the county sits in mapped flood zones, where flood insurance is generally required.
For condos, Florida's newer building safety and reserve rules have led some associations to raise dues or levy assessments. Ask for the budget, reserve study and any planned assessments before you refinance.
This example is illustrative and not a quote. An investor owns a three-bedroom concrete block home in Little River, leased on a 12-month lease. The current loan balance is $300,000, the property appraises at $650,000 and the rent is $4,900 a month. Taxes are about $800 a month and insurance about $520, plus $110 a month for flood insurance.
At 75% LTV the new loan is $487,500. After the $300,000 payoff, that leaves about $187,500 before closing costs. Estimated principal and interest is about $3,409, so the full monthly payment is about $4,839 and the DSCR is about 1.01x.
At 65% LTV the loan is $422,500, cash out is about $122,500, the payment drops to about $4,384 and the DSCR rises to about 1.12x. At 75% the ratio barely clears 1.0x, and one bump in the insurance renewal could push it under. Taking a little less cash gives more cushion, which is the trade many Miami investors make.
| Item | 75% LTV cash-out | 65% LTV cash-out |
|---|---|---|
| Appraised value | $650,000 | $650,000 |
| New loan amount | $487,500 | $422,500 |
| Existing loan paid off | $300,000 | $300,000 |
| Cash out before closing costs | $187,500 | $122,500 |
| Estimated principal and interest | $3,409 | $2,954 |
| Property taxes | $800 | $800 |
| Insurance | $520 | $520 |
| Flood insurance | $110 | $110 |
| Total monthly payment | $4,839 | $4,384 |
| DSCR at $4,900 rent | About 1.01x | About 1.12x |
How long you need to own a rental before a cash-out on today's appraised value varies by program. If you bought recently, some programs look at your purchase price plus documented rehab. Ask us at the start so your appraisal and timeline line up.
Investors in Miami most often use the cash for the next down payment, a rehab on another property, paying off a short-term rehab loan or consolidating higher-cost debt. On business-purpose loans, the cash stays in your investing plan.
Before you lock in a refinance, ask every lender the same questions so you can compare like with like. Here is how LendingStreet answers each one.
Send us the address, your estimated value, the current loan balance and the rent. We will run the ratio at a few loan amounts and show you how much cash the rental can support. Get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. We lend up to 75% LTV on 1-8 unit rentals, qualify on the property's rent with no tax returns, and offer 30-year terms with LLC borrowers as standard.
Yes. We lend in Miami and across Florida, and in all 50 states and DC, on non-owner-occupied investment property.
Yes. Florida charges documentary stamp tax on new notes and an intangible tax on new mortgages. Your title company will calculate the exact amounts.
Often, yes, if the association's finances and leasing rules work. We review the budget, reserves and any special assessments as part of the file.
Only where short-term rentals are legal. Many residential areas in Miami and Miami Beach restrict them. Most Miami cash-outs use long-term lease income.
No. The loan qualifies on the property's rent. We do not ask for W-2s or tax returns, and LLC borrowers are standard.
Possibly. The standard minimum is 1.0x, and sub-1.0 DSCR programs exist for some files. Taking a smaller cash-out amount can also lift the ratio.
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