Florida Home Loans
Updated: April 2026 ● Todd Orlando
Florida’s real estate market moves fast — and the right lender moves faster. At Defy Mortgage, we offer Florida home loans built for every type of borrower in the Sunshine State. First-time buyer trying to break into the market? We’ve got you. Seasoned investor scaling a rental portfolio in Miami or Tampa? We’ve got that too. Self-employed with income that doesn’t fit a W-2? That’s exactly what we’re built for. From Jacksonville to Orlando to the Florida Keys, Defy Mortgage offers a full lineup of Florida mortgage options: DSCR, bank statement, P&L, foreign national, FHA and more.
Florida’s market is giving buyers and investors more breathing room than it has in years. Inventory is up, competition is down, and the window is open. The only question is whether you have the right lender to get you through it.
Cities in Florida We Serve
Options are a beautiful thing, and we don’t skip a zipcode in the state of Florida. We serve all cities in the state. Defy Mortgage offers home loans across Florida so that no matter where you intend to refinance or purchase, you have FAST and customizable loan options to meet your unique needs.
Here’s where you can find us:
- Naples
- Orlando
- Fort Lauderdale
- Miami
- Tampa
- Tallahassee
- Jacksonville
- Boca Raton
- Fort Myers
- Dayton
- Gainesville
- Sarasota
- St. Petersburg
- Pompano Beach
- Clearwater
- and more!
Home Loans Offered In Florida
At Defy Mortgage, we are fully licensed in the state of Florida, which means that we can provide all purchase and refinance Non-QM and Traditional loans, including:
- DSCR Loans
- Bank Statement Loans
- HELOC & HELOAN
- P&L Loans
- Interest-Only
- Foreign National
- Asset Depletion
- Cash-Out Refinances
- FHA Loans
How Do Home Loans Work In Florida
Getting a home loan in Florida isn’t as complicated as it sounds. The requirements are the same as anywhere else in the country — and if your financial profile is solid, you’re already most of the way there. Here’s what lenders are actually looking at:
Florida Home Loan Requirements
- Credit Score
- Income
- DTI (ie: what you owe vs. what you earn)
- Assets
- The type of mortgage you’re applying for
Have those and get to financing! (Yes, that also means finding a lender you want to work with and submitting an application.) Once you receive the funds or your rate for refinancing for your Florida home loan, you can move forward with buying or refinancing your home.
Steps for Getting A Home Loan in Florida
- Step 1: Assess your finances — know your credit score, DTI, and how much you have saved for a down payment and closing costs (budget 2%–5% of the purchase price for closing costs alone).
- Step 2: Choose the right loan type for your situation — FHA, VA, USDA, conventional, DSCR, or bank statement.
- Step 3: Get pre-approved — this is important so you know exactly what you can afford and sellers take you seriously.
- Step 4: Find your property and make an offer — Florida’s 2026 market has more inventory and less competition than buyers have seen in years, so use that leverage.
- Step 5: Submit your full loan application — and respond to document requests quickly to avoid delays. Make sure you have all the required documentation, as the documentation requirements vary by loan type.
- Step 6: Get through inspection, appraisal, and underwriting — don’t skip the inspection in Florida, where flood zones and insurance requirements can significantly impact your costs. Speak with your lender about your options.
- Step 7: Close on your home — sign the documents, and get your keys. Start to finish, the process typically takes 30–45 days from accepted offer to closing.
Florida’s State Tax Treatment of Capital Gains
Like a few other states across the US, Florida doesn’t charge state income tax whatsoever. According to the Florida Department of Revenue: “The State of Florida does not have an income tax for individuals, and therefore, no capital gains tax for individuals.”
The numbers speak for themselves. Take a $500,000 investment property sale with a $350,000 original purchase price. As a Florida resident, your $150,000 income puts your $300,000 total taxable income in the 15% federal bracket — resulting in a tax bill of roughly $37,748. That’s it. No state tax on top.
Run the same scenario in California and you’re adding up to $28,691 in state capital gains tax, bringing your total liability to over $66,000. That $28,691 stays in your pocket simply because you’re in Florida — and that advantage compounds over time for investors, retirees, and business owners building generational wealth. No personal income tax, no state capital gains tax, no state estate tax. Florida doesn’t just offer real estate opportunity — it lets you keep more of what you make from it.
Florida Mortgage Programs 2026
As of April 2026, Defy Mortgage offers the following mortgage programs to those looking to purchase or refinance properties in the state of Florida. For specific licensing information, please visit our State Licensing Page.
For real estate investors looking to purchase or refinance. Our DSCR loans in Florida flip the script on traditional financing. Instead of digging through your personal income history, lenders look at one thing: whether your property generates enough cash to cover its own debt. That ratio, your debt service coverage ratio, is what gets you qualified, nothing more.
- Up to 85% LTV purchase SFR (most lenders only go up to 80%)
- No hard maximum loan limit
- DSCR options down to 0.75 minimum
- Min FICO as low as 640 (most lenders have a 660 min!)
Empire builders like the self-employed don’t have time for red tape. Our P&L statement program in Florida is designed for exactly that — speed, power, and a direct line to funding. No bureaucratic nonsense. Just the flexibility and firepower to get you where you’re going.
- Up to 90% LTV purchase & R/T refi
- No hard maximum loan limit
- Single Family, Condo, Co-ops and Condotels
- Min FICO as low as 640
W-2s weren’t built for the self-employed — bank statement loans were. In Florida, 12 or 24 months of bank records replace traditional income verification, giving entrepreneurs and independent workers a straight shot at financing that actually fits their financial reality. Our Bank Statement loans in Florida flex however you need them to. Less red tape, alternative income documentation, lower down payments and endless possibilities.
- Up to 90% LTV Purchase & R/T Refi (most lenders stop at 85%, not us!)
- No hard maximum loan limit
- Primary, Second Home and Investments
- Min FICO as low as 640
IO options allow Florida borrowers to pay only the interest on the loan for a set period of time, with fixed rates and no requirement for a principal paydown. Following that period, you can either refinance, pay the remaining balance in full or begin making regular monthly payments. Ideal for Contract workers, entrepreneurs, business owners, annual or quarterly paid employees… WHATEVER, Interest-Only loans in Florida are gold for those who want flexibility in principal reduction payments or peeps expect an increase in income within the near future.
- No principal paydown during the IO period
- Pay off your mortgage as you see fit (yes, really)
- IO periods of 5, 7, or 10 years
- Options for purchase, RT refi and cash-out
Asset Depletion loans in Florida are a great option for high-net-worth, self-employed, or retired individuals with substantial liquid assets looking to purchase or refinance.
- Up to 80% Loan to Value (LTV)
- No hard maximum loan limit
- Min FICO score down to 640
- Primary & second home
If you are a non-US citizen looking to purchase or refinance an investment or second home in Florida, we’re ready to fund it. No US credit score or SSN needed. It’s that simple.
- Up to 70% LTV Purchase & R/T Refi
- Up to $3M Max Loan Amount
- No FICO score required (with alternative credit options)
- DSCR loan or foreign income options
We offer cash-out refinance loans for all of our Non-QM loan options listed above, allowing homeowners and real estate investors to access equity using alternative income documentation — such as rental income (DSCR), bank statements, or P&L statements — instead of W-2s or tax returns.
| Program | Income Documentation | Max LTV | Min FICO | Best For |
|---|---|---|---|---|
| DSCR Cash-Out | Rental income (no personal income required) | 80% | 640 | Real estate investors |
| Bank Statement Cash-Out | 12–24 months bank deposits | 80% | 640 | Self-employed borrowers |
| P&L Cash-Out | CPA-prepared P&L statement | 80% | 640 | Business owners with write-offs |
| Asset Depletion Cash-Out | Liquid assets | 75% | 640 | High-net-worth, retired borrowers |
| Foreign National Cash-Out | Alternative credit | 65% | Not required | International property owners |
- HELOC/HELOAN: You’ve spent years building equity — put it to work. Florida homeowners can borrow against what they’ve earned in their home to knock out high-interest debt or fund major improvements, all without touching the rate on their first loan. HELOANs and HELOCs turn what you already own into serious financial leverage.
- FHA Loans: Not everyone has a 20% down payment sitting around — and FHA loans are designed with exactly that in mind. Backed by the Federal Housing Authority, they’re less restrictive than conventional loans and require as little as 3.5% down. Defy Mortgage offers them across Florida, so the barrier to your first home is lower than you think.
- VA Loans: You served. You shouldn’t have to scrape together a down payment to buy a home. Florida VA loans are available to active-duty service members, veterans, and surviving spouses — and they come with one of the most powerful perks in the mortgage world: $0 down. No gimmicks, no fine print. Just a loan that finally works in your favor.
Current Non-QM Rates in Florida by Loan Type
Example rate ranges shown for a 740 FICO borrower at standard LTV in Florida. Actual rates vary based on borrower profile, points, reserves, property type, and market conditions. These reflect current rate indications from Defy Mortgage for typical borrower scenarios.
| Loan Type | Purchase Rate | Refi Rate | Standard LTV | Notes |
|---|---|---|---|---|
| DSCR Loan | 6.000% | 6.125% | 75% | Qualifies on property cash flow, min 0.75 DSCR |
| Bank Statement (Personal or Business) | 6.250% | 6.250% | 75% | 12–24 months statements |
| P&L Loan | 6.500% | 6.625% | 75% | CPA-prepared P&L accepted |
| Asset Depletion | 6.250% | 6.250% | 75% | Qualify on liquid assets, no income docs required |
| Foreign National DSCR | 6.750% | 6.750% | 70% | No US FICO required |
Interest-only option: Available on all products above. Add approximately 0.25% to the applicable rate.
Example rates shown are not a commitment to lend and do not include discount points, fees, or APR. These rates are for Florida only.
Buying a Home In Florida
You might assume that the steps to buying a house in Florida are different than in other states, but the mortgage process is typically more or less the same. And, with a lender who works around your needs like us at Defy Mortgage, the process of buying a home in Florida is even more straightforward.
Average Cost of a Home in Florida
Florida’s real estate market has done something it hasn’t done in years which is it’s given buyers breathing room. Median sale prices are running $413,000–$420,000, list prices are near $425,000, and values have dipped 7.4% from February 2024 in some markets. Inventory is climbing, bidding wars are rare, the market remains active with a median of 77 days on the market, and less than 10% of homes are selling above list. The window is open. The question is whether you’re going to use it.
As a general note, it’s important to keep in mind that home values fluctuate depending on a variety of factors, such as:
- Closing costs
- Down payment
- Mortgage payment
- Homeowner’s Association (HOA) fees
- Maintenance and repairs
- Insurance
- Location
As you begin your home buying journey, it’s important to keep these factors in mind to ensure you find a home that you can afford with your budget.
Average Down Payment For a Home in Florida
In Florida, the typical buyer puts down around 13.4% of the purchase price, translating to roughly $22,077 to $60,000 depending on the market and price point. While 20% down remains the standard benchmark to avoid private mortgage insurance, the reality is that most Florida buyers aren’t putting down anywhere near that.
Conventional loans can require as little as 3% to 5%, FHA loans require just 3.5% with a 580 or higher credit score, and VA and USDA loans offer zero-down options for eligible buyers. First-time homebuyers typically come in around 9% down — well below the 20% figure that stops a lot of people from even starting the conversation.
It’s worth noting that Florida’s high-end market — homes over $750,000 — has pushed average down payment figures up in dollar terms, which can make the numbers feel more intimidating than they actually are for most buyers. Home prices in Florida’s largest metros are projected to dip slightly in 2026, which works in buyers’ favor. What doesn’t change is the closing cost reality, plan on an additional 2% to 5% of the purchase price on top of your down payment. Factor that in early and you won’t be caught off guard at the finish line. At Defy Mortgage, we offer Non-QM down payment options as low as 10%, depending on borrower criteria and loan type. If you have questions about down payments in Florida, especially as a real estate investor, just ask!
Florida Real Estate Market Overview
Florida’s real estate market is one of the most dynamic and opportunity-rich in the country, fueled by Miami’s global investor appeal, Tampa Bay’s explosive population growth, Orlando’s thriving short-term rental economy, and a statewide tax environment that lets investors keep more of what they earn.
Miami / South Florida: Miami has cemented itself as one of the top real estate investment markets in the world, drawing domestic and international buyers at a scale few U.S. cities can match. The metro’s population growth, booming finance and tech sectors, and limited coastal inventory have sustained strong rental demand across urban, suburban, and luxury submarkets alike. DSCR loan activity in Miami-Dade, Broward, and Palm Beach counties is among the highest in the Southeast, with investors targeting everything from SFR and small multifamily to luxury condos and mixed-use properties.
Tampa Bay / Central West Florida: Tampa has been one of the fastest-growing metros in the U.S. for the past decade, consistently ranking among the top cities for population inflow, job growth, and real estate appreciation. The combination of relative affordability compared to Miami, a diversified economy, and strong rental demand across Hillsborough, Pinellas, and Pasco counties makes Tampa Bay one of the most active DSCR markets in Florida. Average single-family rental rates across the Tampa metro range from $1,800 to $3,200 per month depending on submarket.
Orlando / Central Florida: Orlando is one of the top short-term rental markets in the United States and arguably the single strongest STR market in the country by volume. Proximity to Walt Disney World, Universal Studios, and a world-class convention center drives year-round occupancy across Osceola, Orange, and Polk counties. According to AirDNA STR market data, the Orlando metro consistently ranks as a top-5 national STR market by gross revenue. DSCR loans using AirDNA-based income projections are widely used here for both first-time and experienced STR investors, and Kissimmee remains one of the most cash-flow-positive STR submarkets in the nation.
Jacksonville / Northeast Florida: Jacksonville offers some of the most attractive price-to-rent ratios in Florida, with SFR investment properties in established neighborhoods generating rental yields that consistently outperform the state average. The city’s affordable entry points, growing population, and strong military presence (anchored by Naval Station Mayport and NAS Jacksonville) create a stable, demand-driven rental market with lower vacancy risk than many Florida metros. DSCR investors are increasingly targeting Duval, St. Johns, and Clay counties for long-term buy-and-hold strategies.
Naples / Southwest Florida: Naples and the broader Southwest Florida corridor — including Fort Myers, Bonita Springs, and Cape Coral — attract a high concentration of luxury buyers, retirees, and seasonal residents, creating a unique dual market of long-term rentals and premium STR inventory. Cape Coral in particular has emerged as one of the fastest-growing cities in the U.S. by population, with canal-front SFR properties generating strong DSCR metrics for investors. Average single-family rental rates across Southwest Florida range from $1,600 to $3,500 per month depending on proximity to the coast.
Statewide investor advantage: No personal income tax, no state capital gains tax, and no state estate tax make Florida one of the most wealth-preserving states in the country for real estate investors. Combined with a landlord-friendly legal environment, year-round rental demand, and one of the largest population bases in the U.S., Florida offers a rare combination of cash flow potential, appreciation upside, and tax efficiency that few states can compete with.
Economic Context for Buyers: These conditions create an ideal environment for borrowers who previously faced intense competition in Florida’s overheated market.
- Florida is projected to reach 24 million residents in 2026, adding over 300,000 net new residents per year — roughly 838 people per day
- Florida’s GDP growth has outpaced the national average by 2.3 percentage points over the past four years and is expected to continue outperforming the nation in 2026
- Unemployment sits at 4.5% — a modest uptick economists are calling temporary, and still tracking competitively against the national rate
Why Defy Mortgage For Florida Home Loans
At Defy Mortgage, we help Florida real estate investors make smarter financing decisions that align with their tax strategies, whether you are self-employed and want to refinance your vacation home in Florida for cash-out or are a seasoned real estate investor who wants to use DSCR products to scale portfolios of condos and vacation rentals using rental income alone. We understand that Florida attracts independent-minded individuals who often don’t fit traditional lending boxes. Our approach goes beyond standard qualification metrics to evaluate your complete financial picture.
Plus, we close fast. Most of our loans close in 14 to 21 days, driven by appraisal and title, not income verification. If you’re planning your next move in Florida real estate, we offer competitive LTV options as high as 85% for DSCR purchase, 90% for Bank Statement and P&L and more. Not to mention that our minimum required FICO is 640 across the board. We know the Non-QM market and Florida real estate like the back of our hand. And yes, that includes hurricane considerations and international buyer dynamics. To best serve you, it’s table stakes.
Grow your portfolio, get that vacation home you’ve been eyeing, refinance for a lower rate, tap into your equity for cash-out… whatever your reason, we’ve got you and at the most competitive rate.
More Information On Florida Lending
Florida Home Loan FAQs
What Florida home loans can I get?
Most home loan options are available depending upon your lender of choice in the state of Florida. At Defy Mortgage, we are fully licensed in the state of Florida, which means that we can provide all purchase and refinance Non-QM and Traditional loans, including:
- DSCR Loans
- Bank Statement Loans
- HELOC & HELOAN
- P&L Loans
- Interest-Only
- Foreign National
- Asset Depletion
- Cash-Out Refinances
- FHA Loans
What credit score do I need to get a home loan in Florida?
It depends on the loan type. FHA loans can go as low as 580 with a 3.5% down payment. Conventional loans typically require a 620 or higher. Non-QM products like bank statement and DSCR loans have more flexible requirements. The short answer: don't count yourself out before talking to us. Most of our loan options permit credit scores down to 640.
What is a DSCR loan and is it available in Florida?
In Florida, DSCR loans allow investors to qualify using rental income instead of personal income, with lenders offering up to 85% LTV and DSCR as low as 0.75 — no W-2s, tax returns, or personal income verification required. A DSCR loan qualifies real estate investors based on a property's rental income — not personal income, tax returns, or W-2s.
For Florida investors building rental portfolios, DSCR loans in Florida are the most flexible and scalable financing tool available in 2026.
Compared to conventional investment property loans, DSCR loans in Florida allow investors to scale portfolios without debt-to-income (DTI) limitations.
Who should use a DSCR loan in Florida?
DSCR loans are the right fit for:
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- Boca Raton portfolio investors scaling beyond 4 properties where conventional financing becomes restrictive
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- Naples or Orlando cash flow investors targeting high-yield SFR with strong rent-to-price ratios
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- Miami STR investors financing beach front cabin, condo and pool-side properties using AirDNA income projections
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- Self-employed borrowers whose tax returns understate actual income
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- LLC borrowers who want entity-level ownership and liability separation
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- Foreign nationals investing in Florida real estate without US income documentation
Investors who qualify based on personal income may also consider a bank statement loan or P&L loan for primary residence or second home financing.
P&L loans are one of several Non-QM options designed for self-employed borrowers, alongside bank statement loans, DSCR loans, and asset-based qualification programs.
Can I get a home loan in Florida if I'm self-employed?
Absolutely. Traditional lenders make it unnecessarily hard for self-employed borrowers — we don't at Defy Mortgage. Our bank statement loans use 12 or 24 months of bank records in place of W-2s or tax returns, giving entrepreneurs and independent workers a financing path that actually reflects how they earn.
How long does it take to close a home loan in Florida with Defy Mortgage?
Most loans close in 14 to 21 days. At Defy Mortgage, we originate, underwrite, and fund in-house, which eliminates the delays that come with third-party lenders. The timeline is driven by appraisal and title — not stacks of income documentation slowing your file down.
What is the average home price in Florida?
Florida has given buyers more breathing room than they've seen in years. Median sale prices sit at $413,000–$420,000, list prices are near $425,000, and values have dipped 7.4% in some markets since February 2024. Inventory is up, bidding wars are rare, homes are sitting at a median of 77 days on market, and less than 10% are selling above asking. For buyers and investors who've been waiting for the right entry point, 2026 is making a strong case.
Does Defy Mortgage lend in my area of Florida?
Yes. we're active across the entire state regardless of zip code. Seaside up-north, Naples out west, Miami out east and everywhere in between. If you're buying, refinancing, or investing in Florida, we can help. Send us your scenario!
Are there special considerations for Florida real estate capital gains?
Yes, for primary and investment properties as well as 1031 exchange opportunities and transaction costs a closing.
- Primary residence exemption: Florida's homestead exemption reduces the assessed value of your primary residence by up to $50,000 for property tax purposes — so on a $300,000 home, you're only taxed on $250,000. There's no required residency period to claim it, which makes it a useful tool for investors who designate one of their Florida properties as their primary domicile.
- Investment property considerations: Investment properties don't qualify for the homestead exemption — including multi-unit properties where the owner occupies one of the units.
- 1031 exchange: A 1031 like-kind exchange lets you swap one investment property for a higher-valued one without triggering federal capital gains tax — effectively deferring your tax liability indefinitely until a final sale. The IRS requires you to identify a replacement property within 45 days and close within 180 days of the original sale.
- Transaction costs at closing: Florida may have no state income or capital gains tax, but closing costs still take a bite. Budget for doc stamp taxes ($0.70 per $100 of sale price), title insurance ($500–$3,500 depending on sale price), recording fees, and broker commissions of 5%–6%. Combined, transaction costs typically reduce net proceeds by 7%–10% of the sale price before federal taxes — factor these in early when projecting returns.
What are the best tax planning strategies for Florida real estate investors?
Timing and smart income stacking, taking advantage of primary residence exclusions, considering 1031 exchanges and keeping thorough documentation for Florida’s various tax exemptions are all strategies real estate investors can use to optimize tax planning in correlation to capital gains in the state of Florida.
How can I get the best mortgage rate in Florida?
Florida mortgage rates are personal — your credit, your debt load, your loan type, and market conditions all factor in. The best rate goes to the most prepared borrower. Focus on reducing your DTI, improving your credit score, and maximizing your down payment. Defy Mortgage's loan specialists will tell you exactly where you stand and what it takes to get you to a better number.
Who benefits from buying a home and getting a mortgage in Florida?
- Tourism and hospitality business owners
- International business professionals
- E-commerce entrepreneurs capitalizing on Florida's tax advantages
- Remote workers who relocated to Florida during the pandemic
- Independent contractors and consultants
- Real estate professionals and investors
- Freelancers and gig economy workers
- Small business owners and entrepreneurs
- Seasonal business owners in Florida's tourism markets
- Anyone really
Example rates shown are not a commitment to lend and do not include discount points, fees, or APR. Rates current as of March 2026 and subject to change based on market conditions, borrower profile, and property details. Programs, guidelines, and availability may vary by state. All rate information on this page is specific to the state of Florida.
Author: Todd Orlando, Co-Founder & CEO of Defy Mortgage — 25 years of experience in Non-QM and investment property lending.
