DSCR LOAN IN FLORIDA

Our DSCR Loan Features:
Up To 85% LTV For Purchases
Up To 85% LTV For Refianance
80% Cash Out Refinance

NO INCOME REQUIRED
NO EMPLOYMENT REQUIRED
DEBT SERVICE COVERAGE LOAN!

APPLY NOW!

The Premier DSCR Loan Lender in Florida. 
Rental property investment loan option for long term cash flowing properties, up to 80% LTV

brrrr method

PURCHASE

Up To 85% LTV
No Income Investment Loan
Just use rental income to qualify!
No DTI Programs available
Interest Only terms available
30 and 40 year amortization options

Refinaance your home

CASH OUT REFINANCE

UP To 80% LTV
Cash out re-finance your investment
property to build you portfolio today!
Low Rates, High Leverage!
Minimal Documentation
Fast Close

cash out refinance

REFINANCE {RATE AND TERM)

Up To 80% LTV
Refinance and reap the benefits 
from your investment property.
No income or employment required!
Up to 40 year amortization
Interest Only Options!

PURCHASE

No Income Investment Loan
Just use rental income to qualify!
No DTI Programs available
Interest Only terms available
30 and 40 year amortization options

CASH OUT REFINANCE

Cash out re-fiinance your investment
property to build you portfolio today!
Low Rates, High Leverage!
Minimal Documentation
Fast Close

REFINANCE {RATE AND TERM)

Refinance and reap the benefits of passive income
from your investment property.
No income or employment required!
Up to 40 year amortization
Interest Only Options!

For investors who are looking to purchase or have an existing short-term loan looking for an opportunity to streamline a 30-year term, the (Debt Service Coverage Ratio) DSCR loan Florida for non-owner-occupied rental investment properties is the best way to go

Benefits of DSCR Loan

  • No evidence of personal income required
  • Maximize cash flow with 30 and 40 year interest only programs
  • Cash out to continue buying
  • Fast Close!
  • No verification of employment

Perfect Loan for Rental Properties Florida. Commercial and SFR

What is A Debt Service Coverage Ratio (DSCR)?

A measure of an investment properties cash flow above its debt obligations is called the Debt Service Coverage Ratio, or DSCR. 

The Debt Service Coverage Ratio (DSCR) is the borrower’s capacity to service or repay the annual debt payment about the amount of Net Operating Income (NOI) generated by the asset. The higher the DSCR ratio, the more net operating income is available to repay the debt. These loans are different from a owner occupied Florida home loan in that they are typically financed under an LLC and do not require income or employment.

DSCR Loan Florida – The Process For a Fast Close!

Step By Step Florida DSCR Loan Application Process

Step 1: The Florida DSCR Loan Application

Open a new browser
Go to https://www.CambridgeHomeLoan.com/DSCRLoanApplication

Step 2: Submit Proof of Your Properties Income

As your creditworthiness is verified by the income you will generate from the property you are buying; you need to provide proof that your property can cover the mortgage payments. So, provide the needed documents to showcase your property’s income against the loan amount.

Step 3: DSCR Calculation and 1007 Rent Schedule

Once you submit the loan application, your lender will calculate the DSCR ratio, which must be greater than 1, to have your mortgage approved. Moreover, during the appraisal the lender will require a 1007 Rent Schedule to know the property’s fair market rent and ensure the property can sustain the mortgage with market rents.

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Step 4: Closing Your Florida DSCR Loan

Florida DSCR loans do not need information about your financial history; the application and closing procedure is considerably faster than those for other types of mortgage loan programs with streamlined documentation.

cash out refinance

Fast Approvals

Streamlined Underwriting

Approval in 24 Hours

Close in as little as 3 days

DSCR LOAN FLORIDA

Easy Process

No Appraisal Required

Tax Returns Not Needed

No Minimum Credit Req.

DSCR LOAN FLORIDA

Reliable Partner

In House Capital

30+ Years of Experience

Direct Private Lender

dscr loan program

DSCR LOAN

*Up To 80% LTV
* Cash Out Refinance
* 15-30 Day Close!
* No Income Required
* No Employment Required

fix and flip loan programs

FIX TO RENT

*Up to 90% of the Purchase
*100% of the Rehab.
* Closing as fast as 5 days!
* Fix to Flip or Fix to Refi .
* 30 or 40year DSCR loan

rental loan

CASH OUT REFI

* Cash-out & Refinance
*30 or 40 year loan..
* Closing 30 days!
* Up To 80% LTV

construction loan

CONSTRUCTION

*Ground Up Construction
Up To 80% Of Land
* 100% of Construction
* Builders and Developers!

How to calculate a properties Debt Service Coverage for a  DSCR Loan Florida:

 

DSCR= NOI (Net operating income) -Expense
 ___________________________
 Mortgage Payment 

Example: Income of $4000.00  Expenses $1,000.00, Mortgage Payment $2,000.00
Income – Expenses = $3,000.00 divided by $2,000 = $1.5%  DSCR ratio =1.5%
Anything over 1 means you are profitable. Under 1 means that there is not enough cash to cover your expenses.

* Loans of up to $50,000,000.
* Unlimited Cash Out
* Down Payment as low as 20% 
* No income or employment history
* Interest Only Loans Available
* Works with both short term and long term rental properties
* Cash out to purchase more investment properties
* Good for both new and investment properties
* Less paperwork than conventional mortgages

How Do You Apply for a Florida DSCR Loan?

To apply for DSCR loans in FL with CambridgeHomeLoan.com, you’ll need to follow our simple 5-step process. 

This process starts with a simple virtual meeting or phone call, after which we’ll move on to the loan application process. Next, you’ll lock in your rate and we’ll send you the application and disclosures for you to sign. After you’ve signed those, we’ll request a list of supporting documentation. Then due diligence; This includes an appraisal of the property you’re applying for a loan for and underwriting your documents 5- You receive your clear to close and sign your closing documents.

Florida DSCR Loan FAQs
DSCR LOAN (DEBT SERVICE COVERAGE RATIO) FREQUENTLY ASKED QUESTIONS!

How Can I Qualify For A DSCR Loan Florida

To qualify for the DSCR Loan in Florida, your property’s projected NOI (net operating income) must be greater than its annual debt obligation. This means your property must generate enough income to cover the mortgage payments as a rule of thumb. CambridgeHomeLoan.com does go down to 15% under DSCR or 85% of coverage. This gives property owners time to increase rents to cover their expenses.

What is the Best Use For A DSCR Loan in Florida

The DSCR loan is primarily designed for real estate investors who want to generate rental income through their investment property. Considering there has been over a 30% surge in rentals across Florida and rents increasing weekly, adopting the means of quick and easy purchase, refinance or cash out refinance to a 30 or 40year stabilized loan product  is a is a great solution. 

If you have finished leasing up your property or have recently made repairs to your property using a bridge loan or a 2nd, the DSCR Loan is the perfect product for a stabilized rental property.

Check your eligibility for a DSCR loan in Florida.

How to Analyze Your Rental Property For A DSCR Loan

Analyzing a property for DSCR Loan is quite a bit different from the pre-approval process of conventional loans. The DSCR lender would be interested in knowing about the property’s potential to generate income. Thus, they would like to know things like:

Calculate Potential Rental Income

The first step in analyzing a property for a DSCR loan is to calculate the potential rental income. This can be done by multiplying the monthly rent by 12. An annual rental income analysis would clearly illustrate the property’s potential to generate revenue. A DSCR Loan is an investment loan and as such should be generating a profit in short order

Subtract Vacancy Loss

Next, you will need to deduct any vacancy loss from this number. This can be done by taking the vacancy rate (usually around 5%) and multiplying it by the annual rent. This will give you the amount of money that you can expect to lose due to vacancies each year. 5% is an average the many banks will use irregardless of the actual number.

Subtract Operating Expenses to get Net Operating Income (NOI)

You will need to subtract any operating expenses from the annual rent. These expenses can include things like property taxes, insurance, and repairs. This will give you the rental property’s net operating income (NOI).. The net operating income is also utilized to determine the net income for investment properties of all asset types.

Debt Service

The next step is to calculate the debt service. Use a mortgage calculator and enter the loan amount, amortization (typically 30yrs)  and interest amount.  This will give you the monthly debt service with includes principal and interest. CambridgeHomeLoan.com has a number of investment loan products for DSCR Loans. You can calculate using 30yr principal and interest, 30 year interest only, 40 year, etc.. Speak with your CambridgeHomeLoan.com account advisor for different options.

DSCR -Debt Service Coverage Ratio

Next, you will need to calculate DSCR. To get DSCR, divide the debt service by the NOI of the property. This will give you the debt service coverage ratio (DSCR). The DSCR or Debt Service Coverage ratio for investment properties in Florida is the most popular loan type for rental properties.

Additional hard money loan resources can be found HERE!