Orlando has a large-balance rental product that few markets do: big pool homes in resort-zoned communities near the theme parks, built to rent by the night. It also has a long-term luxury market in Winter Park, Windermere and Lake Nona. Each gets underwritten differently.
In short: LendingStreet finances $500K to $1M+ rentals across greater Orlando with DSCR loans that qualify on the property's rent, with no W-2s or tax returns and LLC borrowers allowed. Loans start at $150,000 with no stated maximum, rates start at 6.125% for well-qualified borrowers and short-term rental DSCR starts at 6.49%, qualifying on projected revenue. Purchases go up to 80% LTV and cash-out up to 75%, often less on large balances. In Orlando, the deciding questions are usually whether the property sits where nightly rentals are allowed, how much the HOA and community development district (CDD) add to the payment, and what insurance costs. Confirm local rules before you buy.
Southwest of the theme parks, in Osceola County and the neighboring parts of Polk County, many communities were planned and zoned for short-term rentals. Resort communities such as Reunion, ChampionsGate and Windsor Hills are known for large pool homes, some with eight or more bedrooms, themed rooms and game rooms, designed for big families and groups.
Closer to the city, Winter Park, Baldwin Park, College Park, Windermere, Dr. Phillips and Lake Nona hold most of the high-end long-term rental demand. Lake Mary and Heathrow to the north and Celebration to the southwest add newer executive homes.
This table shows how the two paths compare. Details vary by program and community.
| Item | Resort-zoned vacation home | Long-term luxury rental |
|---|---|---|
| Example areas | Reunion, ChampionsGate, Windsor Hills, other Osceola and Polk resort communities | Winter Park, Windermere, Dr. Phillips, Lake Nona, Baldwin Park, Lake Mary |
| Rent used | Projected STR revenue | Long-term leases |
| Rates from | 6.49% (STR DSCR) | 6.125% |
| Payment add-ons | Resort HOA dues; CDD assessments common | HOA dues; CDD in some newer communities |
| Main approval issue | STR zoning and revenue support | Ratio on one rent at high prices |
| Leverage on a large balance | Often lower; varies by program | Often lower; varies by program |
Florida law limits how local governments can regulate vacation rentals, but older local zoning rules still apply in many areas, and HOAs and condo associations can set their own limits. Within the City of Orlando, short-term rentals are generally limited to hosts who live on site, which rules out most investor-owned homes. Orange County, Osceola County and Polk County each have their own rules, and many STR-friendly communities sit in designated resort or tourist zoning.
Our STR DSCR program qualifies on projected revenue, but only if the property can legally operate as a nightly rental. Confirm the zoning, any county registration and the community's HOA rules in writing before you count on STR income. Florida vacation rentals also register with the state and collect state sales tax and county tourist development tax.
Much of the newer development around Orlando, including resort communities and master-planned areas like Lake Nona, is financed through community development districts. A CDD is a special district that pays for roads, utilities and amenities, and it charges property owners an annual assessment, usually on the property tax bill.
CDD assessments often have two parts: an operations and maintenance portion and a debt portion that pays off the district's bonds over many years. Both count in your DSCR payment, along with HOA dues. Resort communities often also charge HOA dues that cover amenities, security and landscaping.
Pull the tax bill for the parcel and look for the CDD line, and ask the HOA for current dues and any planned increases.
This example is illustrative and not a quote. An investor buys a large pool home in a resort-zoned community southwest of the parks for $1,050,000. Projected short-term rental revenue is about $108,000 a year, or $9,000 a month. A long-term lease on the same home would bring about $5,500 a month. Taxes are budgeted at $1,100 a month, the CDD assessment at $150, insurance at $350 and resort HOA dues at $450.
At 75% LTV the loan is $787,500. At a sample rate of 7.75% on a 30-year fixed, principal and interest is about $5,642. The total payment is about $7,692.
On projected STR revenue, DSCR is $9,000 divided by $7,692, or about 1.17x. On a long-term lease, DSCR would be about 0.72x. This home only works as an STR, which is why zoning and revenue support matter so much. Some lenders apply expense or vacancy factors to STR revenue, so the ratio used can be lower than this simple version.
| Item | Projected STR revenue | Long-term lease |
|---|---|---|
| Loan amount (75% LTV) | $787,500 | $787,500 |
| Principal and interest at 7.75% | $5,642 | $5,642 |
| Taxes and CDD assessment | $1,250 | $1,250 |
| Insurance and HOA dues | $800 | $800 |
| Total monthly payment | $7,692 | $7,692 |
| Monthly income used | $9,000 | $5,500 |
| DSCR | About 1.17x | About 0.72x |
Winter Park, College Park and Baldwin Park offer older character homes and newer infill near downtown and Rollins College. Windermere, Isleworth and Dr. Phillips have large lakefront and golf course homes along the Butler Chain of Lakes and near Restaurant Row. Lake Nona, a master-planned community near the airport, draws medical, research and tech professionals.
Tenants at the top end include relocating executives, physicians and families who rent before buying. One 12-month lease has to carry a large payment, so many $1M+ long-term rentals need more equity than the program maximum. Lakefront homes can also raise flood and insurance questions.
Orlando is inland, so storm surge is not the issue it is on the coasts, but hurricanes still bring wind damage and heavy rain. Hurricane Ian in 2022 caused significant flooding in parts of Central Florida, and Milton crossed the region in 2024. Lakefront and low-lying homes may sit in mapped flood zones. Some parts of Central Florida also raise questions about sinkhole coverage.
Florida property insurance has been volatile, and some owners end up with Citizens Property Insurance, the state-created insurer. Investment property is non-homestead, and assessed values generally reset after a sale. Use the Orange, Osceola or Polk County Property Appraiser's estimator, and base your ratio on your price.
Much of greater Orlando's rental financing falls between $500K and $1M. Typical properties include vacation homes in Kissimmee, Davenport and Four Corners, townhomes in resort communities, long-term rentals in Winter Garden, Ocoee, Oviedo, Clermont, Sanford and Lake Mary, and homes near Lake Nona and Horizon West.
On these balances, leverage is often nearer the program maximums: up to 80% LTV on a purchase and up to 75% on a cash-out refinance. Reserves are often lighter than on a $1M+ file, but both vary by program, and the rent still has to clear the 1.0x standard minimum.
CDD and HOA costs matter just as much at this size, and on a smaller loan they take up a larger share of the payment.
Above $1M, the loan still qualifies on rent or projected STR revenue, with no W-2s or tax returns, a 620 minimum credit score and 30-year fixed options. Maximum LTV is often lower, reserve requirements are often higher and some programs require a second appraisal or a more detailed review.
Very large vacation homes and lakefront estates can have few comparable sales, and STR revenue projections on the biggest homes need solid support from similar properties. Pricing on large balances is set case by case.
If you own five or more Orlando-area rentals, a blanket portfolio loan can finance them on one closing with portfolio pricing, qualifying on the portfolio's combined cash flow.
A complete file gets a faster, clearer answer. Have these items ready when you reach out.
LendingStreet is an investment property financing company. We finance business-purpose DSCR loans on non-owner-occupied rentals across Orange, Osceola, Seminole, Lake and Polk counties.
Send the address, community name, rent type and target leverage. The financing team will check the STR rules and CDD costs, run the ratio and come back with 2-3 options.
Yes, if it sits where nightly rentals are allowed and the HOA permits them. STR DSCR loans qualify on projected revenue, with rates from 6.49% for qualified borrowers.
Generally only as a host who lives on site, which does not fit an investment property. Most investor STRs are in resort-zoned communities in Osceola, Polk and parts of Orange County. Confirm current rules locally.
A community development district funds infrastructure in many newer Central Florida communities and charges an annual assessment, usually on the tax bill. It counts in your payment and lowers the ratio.
Our DSCR programs have no stated maximum. Loans start at $150,000, and larger balances are reviewed and priced case by case. On larger loans, maximum LTV is often lower and reserves higher.
Typically with a rental analysis based on comparable vacation homes nearby, plus booking history if the home already operates. Requirements vary by program.
Yes. Cash-out goes up to 75% LTV, often lower on large balances, and the income must still clear the program minimum at the new, larger payment.
Investment properties are non-homestead, and assessed values generally reset after a sale. Base your numbers on your purchase price, and add any CDD assessment.
No. LendingStreet finances non-owner-occupied investment property only, not second homes.
Yes. DSCR loans start at $150,000 with no stated maximum, and $500K to $1M loans are common for Kissimmee and Davenport vacation homes and for long-term rentals across Orange, Seminole and Lake counties.
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