From waterfront homes in Jupiter to condos on Flagler Drive and seasonal estates near Wellington, Palm Beach County has some of the highest rental price levels in Florida. A large-balance DSCR loan qualifies those homes on rent instead of your tax returns.
In short: Yes. LendingStreet finances Palm Beach County rentals from $500K to well over $1M with DSCR loans that qualify on the property's rent, with no W-2s or tax returns. Loans start at $150,000 with no stated maximum, rates start at 6.125% for well-qualified borrowers, and purchases go up to 80% LTV, often less on large balances. The big local questions are which income the lender will count on a seasonal rental, what wind and flood coverage will cost, and whether the town or HOA limits short stays. Confirm each one locally before you write an offer.
Palm Beach County stretches from Tequesta and Jupiter in the north to Boca Raton in the south, and almost every town along the coast has a high-value rental segment. Each one behaves a little differently in underwriting, so it helps to know which kind of property you are buying.
These are general patterns. Rents and values change street by street, so use recent leases and sales close to the property.
A large share of high-end Palm Beach rentals lease for the winter season, often several months at a time, and then sit empty or rent for much less in summer. That pattern is normal here, but it does not fit the simple monthly-lease math most DSCR programs start with.
Programs handle it in different ways. Many use the appraiser's long-term market rent, which can be well below what a winter season brings in. Some will consider documented seasonal income averaged across the year, and some treat furnished short stays under a short-term rental program, with STR DSCR rates from 6.49% for qualified borrowers. Which method applies varies by program.
If a home has a seasonal rental history, collect the leases, dates and deposits from the seller or the rental agent. Twelve months or more of documented income makes the conversation much easier than a forecast.
Florida law limits how far local governments can ban vacation rentals, but towns can still require registration, inspections and minimum stays, and many Palm Beach County communities do. The Town of Palm Beach is known for close regulation of rentals on the island, including minimum rental periods and registration. Nightly rentals are generally not a realistic plan there.
Associations add another layer. Many gated communities in Jupiter, Palm Beach Gardens and Boca Raton set minimum lease terms, limit how many times a year a home can be leased, or require tenant approval. A condo board may require a background check and an application fee before a tenant moves in.
Read the governing documents and call the town before you count on any rental income other than an annual lease. When the rules are unclear, underwrite on a 12-month lease and treat seasonal or short-term income as upside.
Insurance is part of the DSCR payment, and on the coast it is often the line that decides the file. Barrier island homes, older homes without impact windows and homes in mapped flood zones along the Intracoastal tend to carry the highest premiums.
Newer construction built to current Florida Building Code standards, impact glass, a newer roof and documented wind mitigation features can lower the quote. An elevation certificate helps price flood coverage. Order these early, because some insurers take time to bind coverage on high-value homes.
Condos have their own version of the issue. The master policy cost flows into the HOA dues, and Florida's post-Surfside condo laws require milestone inspections and funded structural reserves in many older buildings. Ask for the inspection and reserve study status with the condo questionnaire.
Many sellers in Palm Beach County lived in their homes and held a homestead exemption with Save Our Homes caps on annual increases. Those benefits end at the sale, and a rental is assessed as non-homestead property, so your bill is often much higher than the seller's.
Use a tax estimate based on your purchase price when you run the ratio. The county property appraiser's website has an estimator, and your title company can help confirm the figure.
This example is illustrative and not a quote. An investor buys a single-family home in Jupiter for $1,600,000 and signs a 12-month lease at $12,500 a month. Taxes, estimated on the purchase price, are budgeted at $2,450 a month and insurance at $950.
At 70% LTV the loan is $1,120,000 and the down payment is $480,000. At a sample rate of 7.25% on a 30-year fixed, principal and interest is about $7,640. The total payment is about $11,040, and DSCR is $12,500 divided by $11,040, or about 1.13x.
If the lease were not signed and the appraiser supported market rent of $11,500 instead, DSCR would be about 1.04x. Both clear the 1.0x standard minimum, but the signed lease gives far more room for an insurance renewal.
| Line item | Signed lease | Appraiser market rent |
|---|---|---|
| Loan amount (70% LTV) | $1,120,000 | $1,120,000 |
| Principal and interest (7.25%, 30 years) | $7,640 | $7,640 |
| Taxes and insurance | $3,400 | $3,400 |
| Total monthly payment | $11,040 | $11,040 |
| Monthly rent used | $12,500 | $11,500 |
| DSCR | About 1.13x | About 1.04x |
Plenty of Palm Beach County investor loans land between $500K and $1M. Common examples are condos in downtown West Palm Beach and Boca Raton, townhomes in Delray Beach and Palm Beach Gardens, and single-family rentals in Lake Worth Beach, Royal Palm Beach, Greenacres and Lantana.
On these balances, leverage often sits closer to the program maximums of 80% LTV on purchases and 75% on cash-out, and reserve requirements are often lighter than on $1M+ loans. Both vary by program, and the 1.0x standard minimum DSCR and 620 credit floor stay the same.
Mid-size condos still face the building review, and an older building with a pending special assessment can change the ratio as much as a rate move. Annual leases are usually the cleanest income at this size.
Above $1M, the program basics stay the same: qualify on the property, no W-2s or tax returns, a 620 minimum credit score, LLC borrowers allowed and 30-year fixed options. Pricing is set case by case, and a few steps get added.
Maximum LTV is often lower on large balances and reserve requirements are often higher. Some programs require a second appraisal or a more detailed review, which is common on unique waterfront or estate properties with few close comparable sales.
If you own five or more rentals across South Florida, a blanket portfolio loan can combine them in one closing with portfolio pricing, qualified on the cash flow of the whole group.
The same Palm Beach home can be run three ways, and each one reads differently to a lender. Use this as a frame, then confirm the town and HOA rules for the address.
| Item | Annual lease | Seasonal lease | Short-term rental |
|---|---|---|---|
| Income documentation | Signed lease | Season leases and history | Revenue projection and bookings |
| Typical qualifying basis | Lease or market rent | Varies by program | Projected annual revenue |
| Town and HOA risk | Lowest | Medium; minimum terms apply | Highest; often restricted |
| Starting rate for qualified borrowers | From 6.125% | Varies by program | From 6.49% |
Send the address, price, rent type and target leverage. The financing team reviews the scenario and comes back with 2-3 options, including a sub-1.0 DSCR program if the ratio lands just short.
A complete file shortens the review, especially on a large balance.
Yes. DSCR loans start at $150,000 with no stated maximum. Loans of $500K to $1M are common for West Palm Beach and Boca Raton condos, Delray Beach townhomes and single-family rentals in Lake Worth Beach and Royal Palm Beach.
Yes, but how the income is counted varies by program. Many use the appraiser's long-term market rent. Some consider documented seasonal income averaged over the year. A rental history with dates and amounts helps either way.
Generally not. The Town of Palm Beach regulates rentals closely, including minimum rental periods and registration. Confirm the current ordinance with the town before you buy.
Wind exposure, flood zone, roof age and construction type all drive the premium. Impact windows, a newer roof and a wind mitigation inspection can help. Get quotes during your inspection period, since insurance counts in the DSCR payment.
Often not. Homestead and Save Our Homes benefits end at the sale, and rentals are assessed as non-homestead property. Underwrite with an estimate based on your purchase price.
Our DSCR programs have no stated maximum. Larger balances are reviewed and priced case by case, often with lower maximum LTV and higher reserves.
Often, if the building passes project review. Lenders ask about milestone inspections, reserves, insurance and pending assessments. Buildings with large unfunded repairs can be hard to finance until the work is funded.
No. LendingStreet finances non-owner-occupied investment property only, so homes with personal use do not qualify.
Yes. Cash-out goes up to 75% LTV, often lower on large balances. The rent must still cover the new, larger payment at the program minimum, and seasoning varies by program.
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