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What to Look for in a DSCR Lender
Before picking a lender, make sure they check these essential boxes:
- They explicitly state they offer a DSCR-loan product, meaning they qualify based primarily on the property’s income rather than your personal tax returns or W-2.
- They operate in Florida (specifically Miami / South Florida) and understand the local rental market.
- They accept investor-friendly criteria: LLC ownership, rental income from short-term or long-term rentals, flexible underwriting.
- They clearly define terms like down payment, loan-to-value (LTV), interest rate, and DSCR threshold.
- They are transparent about whether you’re dealing directly with a bank, a non-bank lender, or a private/investor lending product (which may carry different terms).
Top Lenders Active in Miami / Florida DSCR Loans
Here are some of the stronger options you’ll find for DSCR loans applicable to the Miami area:
1. Griffin Funding
Griffin Funding offers DSCR loans throughout Florida — including Miami. They specifically mention “DSCR loans to borrowers throughout Florida … including Miami.”
Why consider them:
- National investor-lender experienced in DSCR deals.
- Accepts investor-use properties (not primary residences).
- Good if you’re building a portfolio or using LLC structure.
2. Angel Oak Mortgage Solutions
Angel Oak’s “Investor Cash Flow”/DSCR program offers flexible underwriting: no income/employment verification, allows short-term rentals, LLCs, non-warrantable condos, etc.
Why consider them:
- Great for non-traditional properties (condos, vacation-rental friendly).
- Strong product for investors who want flexibility.
3. Longleaf Lending (Miami-focused)
Longleaf explicitly markets DSCR loans “in Miami Florida” for investors.
Why consider them:
- Local to Miami, which helps for handling Florida-specific rental and regulatory issues.
- Good choice if you want a lender familiar with South Florida market dynamics.
4. Easy Street Capital (Florida wide)
Easy Street has a DSCR program for Florida investors: “Rates from 5.75 %, up to 80% LTV for purchases/refis, no min DSCR.”
Why consider them:
- Attractive rates, strong LTV for an investor product.
- Useful for expansion strategies (buying multiple rentals, etc).
5. Axos Bank
Although not Miami-specific, Axos Bank offers a DSCR loan program via wholesale/portfolio lending: “Use expected rental income instead of traditional income docs.”
Why consider them:
- Good bank-type institution (potentially more stability) rather than private money.
- Might suit larger portfolio scale or if you want bank-level governance.
Which Banks / Institutions Offer DSCR Loans?
While “traditional banks doing DSCR loans” is less common (since many banks focus on owner-occupied or agency underwriting), several non-bank lenders, portfolio lenders, and investment-property lenders do. The list above reflects those.
If you search “what banks do DSCR loans,” you’ll find more non-bank lenders or banks offering portfolio/investor programs rather than standard consumer mortgages. For example:
- Axos Bank has a “DSCR Loan Program” at the bank level.
- Many lenders advertise “investor cash flow mortgages” or “DSCR investor programs.”
So when you ask “which banks offer DSCR loans,” you may be dealing not just with big retail banks but specialized investor lenders and non-QM platforms.
How to Choose the Right Lender for Your Florida Rental Property
- Compare DSCR threshold & how they calculate it: Some require DSCR >1.0, others 1.2 or higher.
- Check the down payment / LTV: Investment programs often require 20–25 % down or more.
- Property type eligibility: Single-family, condos, short-term rentals, multi-units — make sure your property qualifies.
- Speed and local expertise: For Miami deals you’ll want a lender familiar with local laws, short-term rentals, condo associations etc.
- Terms & flexibility: Interest-only options? Prepayment penalties? How many properties you can finance?
- Entity/LLC support: If buying through an LLC, check if lender supports entity vesting.
- Reputation & transparency: Read reviews (for example investors on Reddit mention responses delays). (Reddit)
- Exit strategy & portfolio fit: If you plan to hold many properties, make sure the lender supports portfolio growth.
Final Word
If you’re looking for DSCR loans in the Miami market, yes — there are solid lenders. It’s less about “which big national bank” and more about which investor-friendly lender has the product, speed, and local expertise you need.
Here’s a quick takeaway:
- Want a local Miami investor lender → Longleaf Lending.
- Want a national investor lender with flexibility → Angel Oak or Griffin Funding.
- Want strong terms (rate, LTV) in Florida → Easy Street Capital.
- Want a bank-type institution with DSCR product → Axos Bank.
Be sure to get term sheets from 2–3 lenders, compare side-by-side, and choose the one aligned with your Florida rental investment strategy.
