In Miami, rent is rarely the problem. Insurance, taxes and condo association costs are. The best lender for a Miami rental is one that qualifies you on the property's numbers and is upfront about how those carrying costs shape the loan.
In short: Our top pick for Miami DSCR loans is LendingStreet. We qualify on rent with no W-2s or tax returns, which suits self-employed and out-of-state investors, and LLC borrowers are standard. Purchases go up to 80% LTV, cash-out up to 75%, and loans start at $150,000 with no stated maximum, so higher-priced Miami rentals fit. Sub-1.0 DSCR programs help when insurance squeezes the ratio. Get a quote with the form below or call (877) 298-1001.
LendingStreet finances business-purpose loans on non-owner-occupied 1 to 8 unit rentals across Miami-Dade and South Florida. We look at the property's rent against its full payment, including the insurance and HOA lines that decide so many Miami files.
We are a fit for investors who earn through a business, hold through an LLC, buy from outside Florida, or want to refinance a property that has gained value. Send the deal through the form below and we will run the full numbers.
Well-known DSCR lenders include CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Compared scenario by scenario for investors in Miami, FL, 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. |
| 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. |
Little Havana, Allapattah, Little River and Little Haiti have older concrete block homes, duplexes and small multi-unit buildings close to downtown and Wynwood. Brickell and Edgewater are dominated by condo towers. Westchester, Kendall and Cutler Bay offer single-family homes, while Hialeah, Miami Gardens, North Miami and Homestead offer lower entry prices.
Many investors also look north into Broward County. Each city has its own taxes, permits and rental rules, so check the property's exact jurisdiction. Tenant demand comes from hospital, port, airport, tourism and finance jobs, and from a steady flow of new residents, which supports rents across most of the county. Single-family homes and small multi-unit buildings often qualify more easily than condos, because there is no association budget to review and no special assessment risk.
Miami investors often compare a local bank, a hard money lender and a national DSCR lender. Banks may want full tax returns and may limit condo or investor exposure. Hard money works for short projects, not long holds. Here is the side-by-side.
| What matters on a rental loan | LendingStreet | Local bank or credit union | Local hard money lender |
|---|---|---|---|
| Documents | Rent-based qualifying, no tax returns | Often full personal income review | Light, but terms are short |
| Entity borrowing | LLC borrowers are standard | Varies | Common |
| Holding period | Built for long-term holds, 30-year terms | Varies | Built for short holds |
| Leverage | Up to 80% purchase, 75% cash-out | Varies | Varies |
| Credit score | 620 minimum | Varies | Varies |
| Large balances | No stated maximum | Varies; may be capped | Varies |
| Growing past one market | All 50 states and DC | Usually local only | Often regional |
Florida has no state income tax, but investors do not get the homestead exemption or the Save Our Homes cap. Non-homestead assessments can rise up to 10% a year for non-school taxes, and a purchase resets the value. Budget on your price, not the seller's bill.
Miami-Dade's deed documentary stamp tax is $0.60 per $100 on single-family homes and $1.05 per $100 on other property types, including the county surtax. A new mortgage adds documentary stamps of $0.35 per $100 and intangible tax of 0.2% of the loan. Confirm amounts with your title company.
Windstorm coverage is often the biggest expense after principal and interest. Roof age, wind mitigation features and impact windows affect the premium, and many coastal and low-lying properties sit in flood zones where flood insurance is required.
After the 2021 condo collapse in Surfside, Florida added milestone inspections and structural reserve requirements for many older condo buildings. Some associations have raised dues or levied special assessments. Ask for the budget, reserve study and any pending assessments before you commit, and factor any monthly assessment into the payment we use to calculate DSCR.
Miami Beach bars short-term rentals in most of its single-family neighborhoods and many residential districts, and enforces with steep fines. The City of Miami also restricts short-term rentals in many residential neighborhoods, and many condo associations prohibit them. Some areas do allow them, and Florida law limits new local STR bans. Confirm zoning and HOA rules with the city or county before relying on nightly income, and see our STR program for eligible properties.
This example is illustrative and not a quote. An investor buys a three-bedroom concrete block home in Miami Gardens for $520,000 that leases for $3,600 a month. Taxes at the non-homestead rate are $850 a month, and wind and hazard insurance is $450.
At 75% LTV the loan is $390,000, estimated principal and interest is about $2,595 and the total payment is about $3,895, for a DSCR of about 0.92x, below 1.0x. At 65% LTV the loan is $338,000, the payment is about $3,549 and DSCR is about 1.01x. The other route is a sub-1.0 DSCR program at the higher leverage.
| Item | 75% LTV | 65% LTV |
|---|---|---|
| Purchase price | $520,000 | $520,000 |
| Loan amount | $390,000 | $338,000 |
| Down payment | $130,000 | $182,000 |
| Estimated principal and interest | $2,595 | $2,249 |
| Property taxes | $850 | $850 |
| Insurance | $450 | $450 |
| Total monthly payment | $3,895 | $3,549 |
| DSCR at $3,600 rent | About 0.92x | About 1.01x |
Use this list with every lender you talk to about a Miami rental.
How we answer: purchases to 80% LTV, cash-out to 75%, rate-and-term to 80% on some programs; 1.0x standard DSCR with sub-1.0 programs; seasoning that varies by program; LLC borrowers as standard; a clear timeline once your file is in; and no stated maximum loan size, with leverage that varies by program on larger balances and 5 to 8 units.
Send the address, price, rent, insurance quote and any HOA budget. We will run the ratio with the real carrying costs and show you the leverage that works. Use the form below or call (877) 298-1001.
Our top pick is LendingStreet: rent-based qualifying without tax returns, LLC borrowers, no stated maximum loan size, and sub-1.0 programs when insurance tightens the ratio.
Yes. We lend throughout Miami-Dade, Broward and the rest of Florida, and in all 50 states and DC.
DSCR divides rent by the full payment, and wind and flood premiums are a large part of that payment in Miami. A lower premium can lift your ratio and your leverage.
Often, yes. Expect review of the association's budget, reserves, insurance and leasing rules. Large special assessments can change the numbers.
In most single-family and many residential districts, no. Miami Beach restricts STRs heavily. Confirm the zoning of a specific address before buying.
Yes. Many Miami rental owners live out of state. The loan is based on the property's rent, and you can close in your LLC.
Cash-out goes up to 75% LTV, often less on large balances, and the rent must cover the new payment. Seasoning varies by program.
A 620 minimum. Higher scores can improve leverage and pricing.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
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