If you’re exploring DSCR loans (Debt Service Coverage Ratio loans) to buy or refinance an investment property in Miami, you might start your search with big national lenders like Rocket Mortgage or Navy Federal Credit Union. After all, their names are everywhere—TV ads, YouTube, and even your mailbox.
But when it comes to real estate investor financing, especially DSCR loans, the big banks aren’t always your best option. In fact, you might find that a local Miami mortgage broker can offer better rates, faster service, and more flexibility for your investment strategy.
Let’s break down why that’s the case.
What Is a DSCR Loan and Why It’s Different
A DSCR loan is designed for real estate investors, not homeowners. Instead of verifying your personal income or employment, lenders focus on whether your rental income can cover the property’s mortgage payments.
The formula is simple:
DSCR = Rental Income ÷ Total Monthly Loan Payment
If the ratio is at least 1.0 or higher, it shows the property pays for itself—and that’s what DSCR lenders care about most.
Because these are business-purpose loans, not personal consumer loans, many big retail lenders don’t offer them. That’s where local brokers step in.
Does Rocket Mortgage Do DSCR Loans?
You might be wondering: Does Rocket Mortgage do DSCR loans?
The answer is no—Rocket Mortgage does not currently offer DSCR loans.
Rocket specializes in conventional, FHA, and VA loans—great options for primary residences or owner-occupied properties—but they don’t handle investment loan programs that rely on rental income instead of personal income.
If you apply with Rocket Mortgage for a DSCR-style investment loan, you’ll likely be redirected to a traditional investor loan that requires full documentation, including W-2s, tax returns, and proof of income.
For investors who prefer flexibility and faster approvals, that’s a major drawback.
Does Navy Federal Do DSCR Loans?
Similarly, you might ask: Does Navy Federal do DSCR loans?
Once again, no—Navy Federal Credit Union doesn’t offer DSCR loans either.
As a member-focused institution, Navy Federal provides great rates on personal mortgages, auto loans, and VA home loans. But their lending structure is built around owner-occupied financing, not business-purpose real estate investment loans.
So, while you might find competitive rates for your personal home, Navy Federal won’t be able to help you with a Miami rental property that’s evaluated solely on its rental income performance.
Why Big Banks Often Avoid DSCR Loans
There’s a good reason why large national banks and credit unions rarely offer DSCR programs:
- They prioritize consumer loans.
Most big lenders focus on federally backed loans (like FHA or VA), which follow strict income-verification rules. - DSCR loans fall under business lending.
These loans don’t fit within Fannie Mae or Freddie Mac guidelines, making them less attractive for institutions that sell loans to investors on the secondary market. - They carry more underwriting risk.
Since DSCR loans depend on property income—not personal creditworthiness—banks often view them as too niche or complex for their model.
For investors, this means fewer options and slower approval times when dealing with traditional banks.
Why a Local Miami Mortgage Broker Is a Better Choice
If you’re serious about growing your real estate portfolio in South Florida, working with a local Miami mortgage broker can make all the difference. Here’s why:
1. Access to More Lenders and Programs
Unlike big banks, brokers aren’t tied to one institution. They partner with multiple wholesale DSCR lenders, giving you access to a wide range of interest rates, down payment options, and qualification terms.
That flexibility is crucial for investors with unique financial situations—like being self-employed, managing multiple properties, or earning 1099 income.
2. Local Market Expertise
A Miami-based broker understands the city’s rental market, from Brickell condos to Little Havana duplexes. They can advise you on:
- Expected rental income
- Short-term rental regulations
- Market-specific DSCR requirements
That local insight helps ensure your loan is structured correctly—and that your property’s projected income aligns with lender expectations.
3. Faster Approvals and Personalized Service
Big banks often treat you like a number in a system. Brokers, on the other hand, work directly with underwriters and can push files through faster.
Most local brokers can:
- Pre-qualify you in 24 hours
- Close DSCR loans within 2–3 weeks
- Help structure your loan under an LLC for better liability protection
That speed and hands-on guidance are critical in Miami’s fast-paced investment market.
4. Creative Loan Solutions for Complex Deals
A good Miami mortgage broker can tailor your DSCR loan to your needs. For instance:
- Short-term rental DSCR loans for Airbnb properties.
- Low-DSCR programs (even below 1.0) for properties with upside potential.
- Cash-out refinances for equity-rich investors.
These creative structures simply aren’t available at places like Rocket Mortgage or Navy Federal.
5. Better Relationships with Private Lenders
Brokers often work with private and portfolio lenders who understand the local market and can make exceptions when needed.
That means if your DSCR ratio is slightly low, or your credit score dips below 680, a local broker might still find a lender willing to approve your deal—something big banks would never consider.
The Bottom Line: Go Local for DSCR Loans in Miami
If you’re asking, “Does Rocket Mortgage do DSCR loans?” or “Does Navy Federal offer DSCR loans?”—the answer is no on both counts.
Big banks and national mortgage companies simply aren’t set up to handle investment-focused DSCR loans.
But that doesn’t mean your options are limited. In fact, Miami mortgage brokers who specialize in investor loans can open the door to dozens of DSCR programs tailored for:
- Long-term rentals
- Airbnb and vacation properties
- Cash-out refinances for investors
They’ll help you navigate complex lending requirements, find competitive rates, and close quickly—without the frustration of dealing with corporate call centers or rigid underwriting policies.
Final Thoughts
When it comes to DSCR loans, local expertise beats national branding every time.
Rocket Mortgage and Navy Federal might be great for buying your personal home—but if you’re investing in Miami real estate, a local broker gives you the flexibility, speed, and personalized attention you need.
So before applying with a big-name bank, connect with a Miami mortgage broker who knows the DSCR landscape inside and out. It could save you time, money, and even your next big investment deal.
