The Mortgage Lender Who Knows Your Water.

Yes. Short-term rentals in the Florida Keys are typically financed with a DSCR loan, which qualifies the property on its projected rental income rather than your personal income. Most lenders require 20 to 25 percent down and a 620 to 660 minimum credit score. Because the Keys have one of the strongest nightly-rate markets in Florida, many Airbnb and VRBO properties cash flow well enough to qualify on the rental income alone.

A DSCR (Debt Service Coverage Ratio) loan is an investor loan that qualifies you on the property's cash flow instead of W-2s, tax returns, or pay stubs. The lender compares the property's monthly rent to its monthly payment. A ratio of 1.0 means the rent covers the payment exactly, and most programs want 1.0 or higher, though some allow lower ratios with a larger down payment. There is no personal income documentation, which makes it the most common loan for self-employed investors and full-time landlords.

A jumbo loan is any mortgage above the conforming loan limit, which is roughly 832,750 dollars for most of Florida. On coastal and Keys properties, down payments typically run 10 to 20 percent depending on the loan amount, your credit, and whether it is a primary home, second home, or investment. Strong borrowers can often secure jumbo financing with 10 percent down and no mortgage insurance.

If the property sits in a FEMA Special Flood Hazard Area, which covers most of the Florida Keys and much of coastal Florida, flood insurance is required when you finance the purchase with a mortgage. Premiums vary widely by elevation and flood zone, so the smartest move is to get a flood quote before you make an offer. We help clients price flood and insurance early so the full monthly payment is never a surprise at closing.

In coastal Florida, lenders require windstorm coverage, and in high-risk areas this is often a separate wind policy or a Citizens policy. Because insurance is part of your monthly housing payment, a high premium raises your debt-to-income ratio and can change how much home you qualify for. We factor realistic Keys and coastal insurance costs into your pre-approval up front so your budget holds together through closing.

A standard financed purchase in Florida closes in 30 to 45 days. DSCR and other investor loans often move faster because there is no personal income to verify, and we have closed deals in two to three weeks when the appraisal and insurance line up quickly. Getting fully pre-approved before you shop is the single biggest factor in closing on time.

Often yes. Second homes can be financed with as little as 10 percent down on conventional financing, and many investment properties qualify between 15 and 25 percent down depending on the loan type. DSCR investor loans usually sit at 20 to 25 percent down. The right structure depends on how you will use the property, so it is worth a quick conversation before you assume you need a full 20 percent.

It depends on the loan. Conventional loans generally start at a 620 credit score, VA loans are more flexible and have no set minimum from the VA itself, jumbo loans usually want 700 or higher, and DSCR investor loans typically start around 620 to 660. A higher score lowers your rate, but score is only one piece, and we regularly find a path for borrowers who assume they will not qualify.