In Florida, insurance is often the line that decides a large bridge exit. A $2M Tampa Bay home, a group of Orlando vacation rentals or a Fort Lauderdale fourplex can look strong on rent and still struggle once wind and flood premiums are in the payment.
In short: LendingStreet makes Florida bridge loans from $1M to $5M+ on 1-8 unit investment properties, with rates from 7.99% and closings in as little as 10 days. Larger balances are reviewed case by case and usually need a full valuation. Florida investors use them for high-value coastal purchases, vacation rental homes near Orlando, small multifamily in South Florida and rental packages, then refinance into DSCR or jumbo DSCR loans once insurance and rents are confirmed.
South Florida has the highest prices: Coral Gables, Coconut Grove, Fort Lauderdale, Wilton Manors and the Palm Beaches all have single homes and small multifamily that pass $1M easily. In Tampa Bay, South Tampa, Seminole Heights and St. Petersburg attract investors, and on the Gulf Coast, Sarasota and Naples have high-value rentals.
Around Orlando, vacation rental homes in Kissimmee, Davenport and ChampionsGate are bought near the theme parks, often in communities zoned for short-term rentals. Jacksonville offers packages of single-family rentals at lower prices, and the Panhandle, including Destin and the 30A area, has high-value beach rentals.
| Region | Common large-bridge collateral | Biggest cost to check |
|---|---|---|
| Miami-Dade, Broward, Palm Beach | High-value homes, 2-8 unit buildings | Wind insurance and condo rules |
| Tampa Bay, Sarasota, Naples | Coastal and in-town homes | Flood zone and elevation |
| Kissimmee, Davenport, ChampionsGate | Groups of vacation rental homes | STR zoning and HOA fees |
| Jacksonville | Packages of single-family rentals | Roof age and insurance per home |
| Destin, 30A | Beach vacation homes | Seasonality and wind coverage |
Florida large-bridge requests usually come from one of these situations:
Bridge loans start at $150,000 and go to $5M+, rates from 7.99%. Above $1M nothing about the product changes, but the review gets deeper. Expect questions about your track record, reserves after closing and how you will repay.
Unlike some smaller bridge files, a large balance usually needs a full valuation. Order it the day terms are accepted and a 10-day close stays possible. The loan is interest-only for a short term while you sell, lease or refinance.
Florida charges documentary stamp tax on deeds and on notes and mortgages, plus a nonrecurring intangible tax on new mortgages. These apply to the bridge and again to the refinance, so on large balances they add up. Miami-Dade has a different deed rate and surtax structure. Get exact figures from your title agent.
Investors do not get the homestead exemption or the Save Our Homes cap, but non-homestead property has its own cap on annual assessment increases for non-school taxes. After a purchase, the assessment resets toward market value, so the seller's bill is not a good guide.
This example is illustrative and not a quote. An investor buys a four-bedroom St. Petersburg home outside the highest flood zone for $1,250,000. The roof is near the end of its life, and quotes for insurance are very high until it is replaced.
The bridge loan is $975,000. Estimated interest-only payments are about $8,531 a month during the 6-month hold. A new roof and wind mitigation features bring the insurance quote down, and the home is leased to a long-term tenant.
The property then values at $1,350,000. A DSCR refinance at 70% LTV is $945,000, so the investor brings about $30,000 to retire the $975,000 bridge balance. Estimated principal and interest on a 30-year term is about $6,527. Adding taxes of $1,700, insurance of $900, the monthly payment is about $9,127. Rent of $9,500 divided by $9,127 gives a DSCR of about 1.04x.
Insurance without the new roof was quoted at more than twice this figure, which would have pushed the ratio below 1.0x. In Florida, fixing insurability is often the main reason for a bridge.
Carriers look closely at roof age, wind mitigation features and flood zone. Many investors order a wind mitigation inspection and an insurer-style inspection of the roof, plumbing, electrical and HVAC before closing, because they can change the premium a lot. Some properties end up with Citizens Property Insurance, the state-backed insurer, when private coverage is not available.
After the 2021 Surfside collapse, Florida added structural inspection and reserve requirements for many condo buildings. Some associations have raised dues or imposed large special assessments. On a condo rental, read the latest inspection and reserve studies before you buy.
Florida law limits how cities can regulate vacation rentals, but local registration, licensing and zoning still apply, and HOAs and condo associations can set their own limits. Miami Beach restricts short-term rentals in many residential areas, while communities around Kissimmee and Davenport were designed for them.
The state also requires vacation rental licensing through the Department of Business and Professional Regulation in many cases, plus state and county tourist development taxes. Confirm every layer before you count on short-term income for the refinance.
On some programs the takeout DSCR loan can use projected short-term rental revenue, which helps when you buy a home without a booking history in your name.
The bridge is the first loan, not the last. The usual takeout is a DSCR refinance that qualifies on the property's rent, or a jumbo DSCR loan once the balance reaches roughly $1.5M or more. Cash-out goes up to 75% LTV and rate-and-term up to 80% on some programs, though larger loans often get less.
If the numbers only work at a ratio below 1.0x, sub-1.0 DSCR programs exist, but it is better to buy with a cushion.
The fastest large files arrive complete. Have these ready when you request a quote:
Wind and flood premiums count in the payment used for DSCR, and they can be larger than taxes. A roof or wind mitigation upgrade during the bridge can change the outcome.
Generally yes, because each loan has its own note and mortgage. Your title agent can give exact amounts.
Yes, as long as each is 1-8 units. They can refinance into individual or blanket loans, and some programs use short-term rental income.
Yes. Recent condo safety laws have led some associations to raise dues or assess owners. Review inspection and reserve reports first.
Usually, yes. Some smaller bridge programs can skip it, but larger balances usually need a full valuation. Ordering it early keeps the timeline short.
As little as 10 days. The valuation and title search are what usually decide whether you hit that.
The program runs from $150,000 to $5M+, and larger balances are reviewed case by case.
Yes. We offer DSCR and jumbo DSCR loans as the takeout, qualifying on the property's rent with LLC borrowers standard.
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