Investment Property Loans in Miami, Florida - Rental & DSCR Financing
As an experienced mortgage loan officer serving Miami and Miami-Dade County, I specialize in investment property loans florida for local homebuyers. Whether you're considering homes in Brickell, Coral Gables, Coconut Grove, or other Miami neighborhoods, our loan programs are tailored to the local market.
Why Choose Investment property in Miami?
Miami's real estate market in Miami-Dade County offers unique opportunities for homebuyers. With a median home price of $$595,000, our investment property loans florida programs help make homeownership accessible.
- DSCR loans qualify based on property income, not personal income - loans qualify based on property income, not personal income
- No tax returns required for many investor programs - tax returns required for many investor programs
- Finance multiple properties with portfolio lending - multiple properties with portfolio lending
- Cash-out refinancing to fund additional investments - refinancing to fund additional investments
- 30-year fixed or interest-only options available - fixed or interest-only options available
- Experience real estate investor specialist - real estate investor specialist
Investment property Requirements in Miami
Understanding eligibility requirements helps Miami homebuyers prepare for success. Here's what you need to qualify in Miami-Dade County:
| Requirement | Details | |-------------|---------| | Min Credit Score | 620+ for conventional, 640+ for DSCR | | Down Payment | 15-25% minimum for investment properties | | D S C R | 1.0+ (property income covers mortgage payment) | | Property Type | Single-family rentals, multi-family (2-4 units), condos | | Experience | No investor experience required for DSCR loans |
These requirements apply to Miami and throughout Miami-Dade County. Your individual situation may qualify for exceptions or special programs.
Required Documents for Miami Homebuyers
When applying for investment property loans florida in Miami, you'll need to provide:
- Purchase contract or refinance details
- Rental income documentation or lease agreements
- Property tax bills
- Homeowners insurance information
- Personal bank statements (2 months)
- Asset documentation
- Photo identification
- For DSCR: Appraisal with rental income estimate
Miami Investment Loan Timeline
Here's what to expect when getting investment property loans florida in Miami:
| Stage | Timeline | |-------|----------| | Pre Qualification | 24-48 hours | | Appraisal | 7-14 days | | Processing | 14-21 days | | Closing | 30-45 days total |
Timeline may vary for Miami properties based on market conditions in Miami-Dade County. We work efficiently to meet your deadlines.
Current Investment Rates in Miami
Typical Rate Range: 7.0% - 8.5% APRInvestment property rates are typically 0.5-1.5% higher than primary residence rates. Varies by credit, LTV, and property type.
Miami homebuyers should contact us for current rates specific to their situation in Miami-Dade County. Rates change daily based on market conditions.
Miami Real Estate Market Insights
Market Overview: - Median Home Price: $$595,000 - County: Miami-Dade County - Population: 442,241 - Popular Neighborhoods: Brickell, Coral Gables, Coconut Grove, Wynwood, Miami Beach Market Characteristics: Vibrant urban market with luxury condos, waterfront properties, and diverse international buyers.Our local expertise in Miami and Miami-Dade County helps you navigate the market and secure the best investment property loans florida terms for your situation.
NMLS & Licensing Information
Louis Doherty NMLS #60093 | Edge Home Finance Corporation NMLS #891464
Licensed mortgage loan officer serving Miami, Miami-Dade County, and all of Florida. Equal Housing Opportunity Lender.
All loans subject to underwriting approval. Rates, fees, and programs subject to change. This is not a commitment to lend.