DSCR Loans, Miami, FL
Miami is the United States' premier international real estate investor market. Pinnacle Funding Network finances DSCR loans on Coral Gables and Doral hold properties, foreign national DSCR on Brickell and Aventura condo purchases for Latin American and European investors, post-Surfside-aware condo financing across Miami-Dade, fix and flip in Little Havana and Allapattah, and ground-up new construction in Edgewater and the Design District corridor, with cash-flow qualification, no tax returns, and a same-day written quote.
Published by Pinnacle Funding Network | Updated May 2026
Miami is the United States' premier international real estate investor market. The combination of Latin American gateway status, no state income tax, the deepest concentration of high-rise condo inventory in the country, sustained domestic in-migration from the Northeast and California, and a year-round leisure economy has produced a market where DSCR investing, foreign national investing, and condo-specific lending intersect in ways that exist nowhere else in the United States. The Miami DSCR investor who runs deals well runs them across multiple borrower archetypes (US citizen, foreign national, self-employed entity), multiple property types (premium SFR, mid-tier condo, value-add multi-family), and multiple submarket strategies (Brickell condo hold, Coral Gables SFR appreciation, Little Havana value-add) under one capital relationship.
Pinnacle Funding Network is a DSCR-specialist lender purpose-built for the Miami investor. DSCR is the lead product, with foreign national DSCR programs (the natural Miami secondary), post-Surfside-aware condo underwriting, fix and flip across Miami-Dade, BRRRR, bridge, ground-up new construction, and self-employed programs all available through one relationship. This page exists to give serious Miami investors everything they need to underwrite Pinnacle as a capital partner and the Miami market as a deployment target, in one place.
Miami has four structural drivers that make it work for DSCR investors at price points where most other US metros stop working. Understanding these is the difference between picking properties that pencil at Miami pricing and picking properties that don't.
1. The largest US gateway for Latin American and European investor capital. Miami is the entry market for Brazilian, Argentine, Colombian, Venezuelan, Mexican, Chilean, and Peruvian real estate investor capital, plus substantial flows from Canada, the United Kingdom, Spain, France, Italy, and Israel. Roughly 40 to 60 percent of Miami-Dade condo transactions in any given year involve foreign-buyer participation by some measure, and many of those transactions need foreign national lending. This concentration produces a deeper foreign national lending ecosystem than exists anywhere else in the country; Pinnacle's foreign national DSCR programs sit at the center of that ecosystem.
2. Premium rent profile that supports premium price points. Miami median rents run meaningfully above the Florida average. Brickell 2BR condo rents in the $4,500 to $7,000 range, Coral Gables SFR rents in the $4,200 to $7,500 range, and Doral and Aventura family-segment SFR rents in the $3,800 to $5,800 range. The DSCR ratio math at Miami price points is tighter than Tampa or Jacksonville but it still works when the deal is well-selected and the underwriting honestly accounts for HOA cost, hurricane insurance, and property tax.
3. The deepest condo market in the United States. Miami-Dade has more condo inventory than any other US county. This is both an opportunity (broad selection of financeable buildings across price points) and a challenge (post-Surfside lending realities require careful building-by-building pre-screening). Pinnacle's Miami condo lending posture is built around that reality: we keep a working list of financeable buildings and run a pre-screen at the LOI stage so investors do not go under contract on inventory that will fail underwriting.
4. Florida structural tax advantages compounded at Miami price points. No state income tax on rental income, no state income tax on capital gains, no state-level second bite on portfolio returns. At the Miami price point, where typical SFR purchases run $625K to $1.4M and condo purchases run $475K to $1.2M, the absence of state income tax compounds harder than it does at Jacksonville prices. The after-tax yield differential is one reason high-bracket investors from New York, New Jersey, California, and Massachusetts continue to redeploy capital into Miami.
Miami-Dade is not a single market. It is at least seven distinct submarkets with very different price points, rent ranges, condo-versus-SFR characteristics, foreign national participation, DSCR profiles, and tenant demographics. The submarket determines almost every other variable in the deal. Pinnacle has financed DSCR loans across all of these. Below is the operational read on each.
Premium condo DSCR, foreign-national-heavy, financial-services tenant base. Miami's financial core, with Bank of America, Citi, JPMorgan, Wells Fargo, Itau, BTG Pactual, and dozens of family offices and Latin American banking subsidiaries. High-rise condo inventory dominates, with newer post-2010 buildings (SLS Brickell, Echo Brickell, Brickell Heights, Reach and Rise at Brickell City Centre, 1010 Brickell) generally clearing post-Surfside requirements cleanly. Premium pricing matched by premium rent profile and reliable financial-services tenant absorption.
Typical purchase price: $625K-$1.4M (1-2BR), $1.2M-$2.8M (2-3BR premium). Typical monthly rent: $4,500-$7,000. Typical DSCR (75% LTV, factoring in $1,000-$1,800 HOA): 0.80-1.00x. Best for: Premium-condo DSCR investors and foreign national investors targeting the highest-quality Miami-Dade condo inventory with established financial-services tenant demand.
Premium SFR LTR, established demographic, top-tier school district. Spanish Mediterranean and Mediterranean Revival architecture, Miracle Mile retail core, premium public and private schools, Granada and Riviera golf courses. The Miami submarket that most closely resembles an established East Coast affluent neighborhood. Strong long-term family rental demand from medical, legal, and financial professionals. STR generally restricted; treat as LTR-only.
Typical purchase price: $1.1M-$2.4M. Typical monthly rent: $5,500-$9,200. Typical DSCR (80% LTV): 0.75-0.95x. Best for: DSCR investors prioritizing appreciation plus premium tenant base in an established submarket, willing to accept thinner DSCR for stronger long-term equity build.
Creative-class LTR, post-warehouse-conversion live/work, cultural-district tenant base. The former industrial district transformed into Miami's primary cultural and arts neighborhood. Strong appreciation history through warehouse-to-residential conversion, modern loft inventory, walkable to Midtown and the Design District. Strong rental demand from creative, tech, and hospitality professionals. STR rules tightened in recent years; verify by address.
Typical purchase price: $525K-$925K. Typical monthly rent: $3,400-$5,200. Typical DSCR (80% LTV): 0.85-1.05x. Best for: Investors targeting appreciation in a culturally-anchored submarket with modern inventory and a creative-class tenant base.
Value-add fix and flip plus entry-level DSCR. The historic Cuban-American neighborhood west of Brickell. Older inventory (1920s through 1960s bungalows and CBS construction), accessible price points relative to the rest of Miami-Dade, meaningful rehab upside. Strong working-class LTR demand and active fix and flip ecosystem. Walkable to downtown Miami, the financial district, and Brickell employment.
Typical SFR purchase: $385K-$625K. Typical monthly rent: $2,800-$4,200. Typical DSCR (80% LTV): 0.95-1.20x. Best for: Cash-flow-plus-appreciation investors and BRRRR operators targeting the most affordable Miami-Dade entry point with active rehab inventory.
Family LTR, strong Latin American buyer base, master-planned ring. Western Miami-Dade master-planned suburb with strong family rental demand, newer construction inventory (Trump National Doral, Doral Isles, Vintage at Park Square), and significant Latin American resident and owner-occupant base. Top-rated public schools, walkable retail, and reliable LTR absorption. Premium condo and townhome inventory alongside detached SFR.
Typical purchase price: $585K-$925K (SFR/townhome), $385K-$625K (condo). Typical monthly rent: $3,800-$5,400. Typical DSCR (80% LTV): 0.85-1.05x. Best for: Family-LTR investors targeting newer construction with strong school-district pull and Latin American owner-occupant absorption supporting exit pricing.
Premium condo and townhome, foreign-national-heavy, retail-anchored. Northern Miami-Dade premium submarket centered on Aventura Mall and Williams Island. Strong condo and townhome inventory across multiple decades of construction; pre-2000 buildings require post-Surfside pre-screening, post-2010 buildings generally clear cleanly. Substantial Russian-speaking, Israeli, Argentine, and Brazilian buyer participation. Top-rated public schools.
Typical purchase price: $475K-$1.2M (condo), $925K-$2.1M (Williams Island and premium townhome). Typical monthly rent: $3,800-$6,500. Typical DSCR (75% LTV, factoring in HOA): 0.80-1.00x. Best for: Foreign national investors and US-citizen DSCR investors targeting premium condo and townhome inventory with established international tenant absorption.
Luxury condo, foreign-national-dominant, oceanfront premium. The "Little Moscow" / "Little Argentina" oceanfront condo corridor north of Bal Harbour. Premium high-rise inventory (Acqualina, Mansions at Acqualina, Porsche Design Tower, St. Regis Bal Harbour, Trump Towers Sunny Isles, Jade Signature). Substantial foreign-national ownership, premium rent profile, post-Surfside-aware lending required on most pre-2010 inventory. Strong appreciation history.
Typical purchase price: $925K-$3.5M+ (luxury condo). Typical monthly rent: $5,500-$12,500. Typical DSCR (70% LTV foreign national, factoring in HOA): 0.75-0.95x. Best for: Foreign national investors targeting premium oceanfront condo inventory; US-citizen DSCR investors prioritizing appreciation over cash flow.
All ranges above reflect typical recent activity at the time of publication. Specific deals are underwritten to actual comparable rents and sales within 0.5 miles in the last 6 months. Numbers move; the appraisal decides.
The mechanics of a Pinnacle Funding Network DSCR loan in Miami are designed for the actual Miami investor, including the substantial share who are foreign nationals or hold property in offshore entities. The structure is the same as standard DSCR; the qualifying paths flex for borrower type and property type.
30-year fixed (and ARM options). Standard product is a 30-year fixed-rate loan. ARM products (5/1, 7/1, 10/1) are available for investors who want lower starting rates and have a defined exit or refinance timeline.
LTV up to 80% on purchase, 70% on foreign national. Standard US-citizen LTR DSCR purchases go up to 80 percent LTV; foreign national programs typically cap at 70 percent on purchase. Cash-out refinances cap at 75 percent LTV (60 to 65 percent on foreign national). Rate-and-term refinances can match purchase LTV. Condo programs may run 5 percent tighter than SFR on certain post-Surfside-flagged buildings.
20% down standard, 30% foreign national. 20 percent down on standard US-citizen purchases; 30 percent on most foreign national programs. The highest-leverage ARM tiers may require 25 percent. Lenders typically look for 6 to 12 months of PITIA reserves on US-citizen files; foreign national programs require those reserves in a US bank account.
DSCR minimum 1.00x for top pricing. 1.00 DSCR (rental income equals total PITIA) qualifies for best pricing. Programs are available down to 0.75 DSCR with rate adjustment. At Miami price points, sub-1.00 DSCR programs are particularly useful because high HOA on premium condos and high property tax on premium SFR can pull the ratio below 1.0 on otherwise solid deals.
No tax returns, no W-2s, no employment verification (US-citizen path). The property qualifies, not the borrower's personal income. Documentation is property-side: lease (if existing tenant) or market rent appraisal.
Foreign national path: no US credit, asset-based. Foreign national investors qualify with no US credit history. Documentation is property-side plus identity, source-of-funds, and US-bank reserve verification. Latin American notarial requirements and apostille processes are handled inside our standard foreign national workflow.
Loan range $55K to $5M. Sized to the deal. Little Havana entry-level $385K purchases are funded the same way as $2.4M Coral Gables SFR holds and $3.5M Sunny Isles foreign national condo purchases.
Rates and pricing. May 2026 indicative rate range is approximately 7.00 to 8.50 percent on a 30-year fixed for standard US-citizen DSCR. Foreign national programs carry a 0.50 to 1.00 percent rate premium. Origination typically 1 to 2 points. Pinnacle quotes terms in writing before any application fee.
Close in 14-21 days. Standard close is 14 to 21 business days, biased toward the upper end in Miami because of Miami-Dade title and recording pace plus condo questionnaire turnaround. Foreign national closes may run 21 to 30 days depending on apostille and notarization processing in the buyer's home country.
The following is a representative deal structure for a foreign-national Brickell condo. Specific terms are quoted on the actual deal at application.
Property: 2BR/2BA condo, 1,180 sqft, built 2018, Brickell Heights (Brickell, Miami-Dade County). Building cleared post-Surfside reserve and milestone inspection requirements.
Buyer: Brazilian national, primary residence Sao Paulo, intends to hold as LTR investment property under a US LLC.
Purchase price: $725,000
Loan structure (70% LTV foreign national DSCR): $507,500 loan amount, 30-year fixed, 8.25 percent rate (foreign national premium over the 7.50 percent US-citizen equivalent).
Monthly PITIA breakdown:
Principal & Interest: $3,815
Property Tax (Miami-Dade, no homestead exemption on investment property): $755
Insurance (windstorm + hazard): $345
HOA (Brickell Heights, includes amenities and basic utilities): $1,250
Total PITIA: $6,165
Property income: Market rent supported by appraisal: $5,800/month
DSCR calculation at 70% LTV: $5,800 / $6,165 = 0.94x
Just under the 1.00 DSCR target for top pricing. Three paths from here.
Path A: Drop to 65% LTV. Loan amount becomes $471,250. P&I drops to $3,543. Total PITIA becomes approximately $5,893. DSCR = $5,800 / $5,893 = 0.98x. Closer but still under 1.0. Investor brings additional $36,250 cash to close.
Path B: Drop to 60% LTV. Loan amount becomes $435,000. P&I drops to $3,270. Total PITIA becomes approximately $5,620. DSCR = $5,800 / $5,620 = 1.03x. Qualifies at top foreign national pricing. Investor brings additional $72,500 cash to close.
Path C: Stay at 70% LTV with sub-1.0 foreign national DSCR program. Pinnacle has foreign national DSCR programs that qualify down to 0.85 ratio. The 0.94 deal qualifies under these programs with a rate adjustment of approximately 0.25 to 0.50 percent. Investor preserves the additional cash for the next deal.
This is the kind of structuring decision Pinnacle handles inside the term sheet stage, not at closing. We model all three paths on the actual property and let the investor choose. For foreign national investors specifically, the cash-conservation path (C) is often preferable because it preserves capital for a portfolio build rather than tying it up in one deal.
Miami has a real Residential Transition Loan (RTL) market alongside its DSCR-and-hold market. Many Miami investors combine the two: acquire and rehab a property as a fix and flip OR a BRRRR (Buy, Rehab, Rent, Refinance, Repeat), then either sell at completion or refinance into a long-term DSCR hold. Pinnacle covers the full RTL spectrum through the same relationship that handles DSCR.
Where flips work in Miami. Flip activity is concentrated in different submarkets than the premium DSCR markets. Little Havana produces volume CBS-bungalow flips at $325K-$525K purchase, $80K-$160K rehab, $525K-$795K ARV. Liberty City and Allapattah offer entry-level value-add at lower price points. Parts of Wynwood remain active for warehouse-to-residential conversion. North Miami value-add and pockets of Hialeah and Homestead produce volume-grade SFR flips. Brickell, Coral Gables, Aventura, Doral, and Sunny Isles are DSCR-and-hold territory, not flip territory; flips do not pencil at those price points because the rehab arbitrage compresses against premium pricing.
Loan-to-Cost up to 90%. Pinnacle finances up to 90 percent of the purchase price plus 100 percent of the approved rehab budget on standard programs. Experienced flippers (3+ completed projects in 24 months) can access 92.5 percent LTC. First-time flippers typically start at 85 percent LTC, still with 100 percent rehab.
Loan-to-ARV cap at 75%. Total loan (purchase + rehab) is capped at 75 percent of After-Repair Value. The underwriting governor that protects the lender and forces deal discipline.
Interest-only during rehab, no prepayment penalty. Monthly payments on funds drawn only. No interest on undrawn rehab capital. Pay the loan off the day after close if you want to.
Term 12 to 24 months. Standard term is 12 months with optional extensions. Most Miami flips exit in 5 to 8 months from close to resale (slightly longer than Tampa or Jacksonville because Miami-Dade title and permitting both run slower), well inside the term.
Rehab funded in scheduled draws. 3 to 5 draws on cosmetic flips, 6 to 10 on full gut renovations. Each draw triggers an inspection and funds wire same-day after the inspection clears.
Loan range $100K to $5M+. Sized to the deal. First-time flippers eligible with appropriate adjustments to LTC and points.
BRRRR mechanics. The BRRRR strategy uses the same fix and flip loan structure with the exit being a refinance into a long-term DSCR loan instead of a sale. After the property is rehabbed, rented, and seasoned (typically 3-6 months), Pinnacle refinances the short-term loan into a 30-year DSCR at 75-80 percent LTV based on the new appraised value. Little Havana is the most common Miami BRRRR submarket because the rent-to-ARV ratio supports DSCR qualification cleanly at refinance; Allapattah and parts of North Miami also work.
Bridge financing. Short-term financing for properties that don't fit a standard purchase or refinance window. Useful for buying at Miami-Dade County foreclosure auctions, closing on inherited property in cross-border estate situations, or holding while longer-term financing is arranged. 6 to 24 month terms, similar speed and structure to the flip products.
Ground-up new construction. Single-family infill construction and small multi-family up to 8 units. Loan-to-Cost up to 85 percent, 100 percent of construction budget financed in scheduled draws. Miami's highest-volume new construction markets for the investor-scale build are Edgewater, parts of the Design District, infill lot tear-downs in Coral Gables, Coconut Grove, and Miami Shores, and the Doral expansion ring. Larger condo developments are outside the typical investor-build scope.
Build to Rent (BTR). Build to Rent is a specific RTL program for ground-up construction of single-family or small multi-family rental portfolios from the start. Miami BTR activity is less common than Central Florida BTR because Miami's developable infill is constrained, but it exists in the Doral expansion ring and parts of Homestead. Pinnacle provides bridge construction financing that converts to long-term DSCR holds at completion. See the Build to Rent guide for full program details.
Beyond DSCR, foreign national DSCR, fix and flip, BRRRR, bridge, and new construction, Pinnacle Funding Network handles the remaining investor product set through the same relationship.
STR / Airbnb DSCR (where permitted). Miami STR is a city-and-building specific question. Miami Beach restricts STR in many single-family residential zones and in many registered-condo buildings; the City of Miami permits STR in some districts. Pinnacle's STR DSCR programs qualify properties using AirDNA market projections or actual booking history where the local ordinance and condo association rules permit STR operation. Always verify before going under contract.
Self-employed programs. Self-employed investors qualify the same property-cash-flow path as W-2 borrowers (DSCR programs do not require personal income documentation). For non-DSCR scenarios, bank statement programs are available.
Every market has friction points that determine timeline and budget. Here are the ones that consistently matter in Miami.
Post-Surfside condo lending. Florida condo financing requires reserve studies, milestone inspection reports for buildings 30+ years old or 3+ stories, and proof of adequate condo association reserves and insurance. Miami-Dade is the densest condo market in Florida and a meaningful share of inventory falls into the post-Surfside scrutiny tier. Many pre-2000 oceanfront and Bay-adjacent buildings now require additional documentation and some are currently not financeable due to failing reserves or active special assessments. Pinnacle pre-screens condos at the LOI stage so investors do not go under contract on a non-financeable building.
Foreign national documentation realities. Latin American buyers typically present passport, second photo ID, foreign tax ID (CPF for Brazil, RFC for Mexico, CUIT for Argentina), source-of-funds documentation, and notarized/apostilled signature pages. European buyers follow similar processes with country-specific notarial requirements. Pinnacle's foreign national workflow handles these as standard; the documentation cadence does add 5 to 10 days to closing timelines.
Miami-Dade title and recording pace. Title and recording in Miami-Dade typically runs 2 to 5 days slower than Hillsborough, Duval, or Palm Beach on residential transactions. Budget toward the upper end of the 14 to 21 day close window and start title work on day one.
Hurricane and windstorm insurance. Mandatory across Miami-Dade. Budget $4,500-$9,500 annually for a typical inland SFR; meaningfully higher for Brickell waterfront, beach, and Bay-adjacent properties ($6,000-$15,000+). The Florida insurance market has hardened significantly post-Citizens depopulation. Order the binder on day one of due diligence.
STR ordinance variation by city. Miami-Dade STR rules are not county-uniform. Miami Beach is restrictive in many residential zones. City of Miami varies by district. Aventura and Sunny Isles have municipal-level rules. Within condo buildings, the association rules govern even where the municipal code permits. Always verify both the municipal code AND the condo CC&Rs.
Homestead exemption does not apply to investment property. Investment properties pay full assessed value property tax with no exemption. Miami-Dade rates typically run 1.0 to 1.2 percent of assessed value. Factor this directly into PITIA on every DSCR underwriting; at Miami price points, the property tax line is material.
HOA cost on premium condos. Brickell, Aventura, and Sunny Isles condo HOAs commonly run $800 to $2,200 monthly, sometimes higher in luxury oceanfront buildings. HOA cost flows directly into PITIA and is the single largest driver of why Miami premium-condo DSCR ratios run thinner than equivalent SFR holds in Coral Gables or Doral. Account for HOA in the underwriting from the LOI stage.
DSCR plus foreign national DSCR under one relationship. Miami is the country's largest foreign national investment property market and the lender has to handle both US-citizen and foreign national paths fluently. Pinnacle's DSCR programs cover both, with foreign national workflow built around Latin American and European borrower documentation realities. Same broker, same relationship, two qualifying paths.
Post-Surfside condo expertise. Pinnacle maintains a working knowledge of Miami-Dade condo buildings that are currently financeable versus those with reserve, milestone, or special-assessment issues that disqualify them. LOI-stage pre-screening keeps investors from going under contract on inventory that will fail underwriting.
Loan range sized for the Miami deal set. $55K to $5M+ in a single relationship. Entry-level Little Havana deals fund the same way as $3M Sunny Isles foreign national condo purchases. No shopping a new lender when the portfolio scales across price tiers.
Speed. 14 to 21 day close is standard on US-citizen deals, 21 to 30 days on foreign national depending on apostille and notarization in the buyer's home country. We coordinate with Miami-Dade title, condo associations, and foreign-side notaries in parallel from day one of the file.
Multi-program flexibility. US-citizen DSCR, foreign national DSCR, fix and flip across Little Havana and Allapattah, BRRRR, ground-up new construction in Edgewater and Doral, self-employed. The same broker handles your Brickell condo refinance, your Coral Gables SFR purchase, your Little Havana BRRRR, and your Aventura foreign national condo deal.
Honest underwriting. Programs and pricing are quoted before application fees. Term sheet matches close terms. No bait-and-switch on rate, LTV, or DSCR threshold at the closing table.
Mortgage broker model with multiple lender relationships. Pinnacle is not a single-lender retail shop. We place loans across approximately ten institutional DSCR and RTL lenders, which means rate, term, and structure are matched to the deal rather than to a single product menu. Foreign national programs in particular vary meaningfully between lenders, and matching the buyer to the right program is part of the broker value.
The fastest path from "I have a property under consideration" to "I have a term sheet" is the same-day quote. Submit the property address, purchase price, estimated rent, and your target loan structure at pinnaclefundingnetwork.com/get-quote. We respond with a written term sheet (rate, points, LTV, DSCR threshold, term) typically inside one business day. No credit pull, no application fee, no obligation. Foreign national borrowers should note their country of residence and intended ownership structure (personal vs LLC) in the quote request so we can route to the right program from the start.
If the term sheet works, the next step is a formal application. From application to close runs 14 to 21 business days on standard US-citizen files, 21 to 30 days on foreign national files. Title work, appraisal, condo questionnaire (where applicable), and the insurance binder all happen in parallel. A clean borrower with a clean property and a financeable condo closes inside the standard window. A foreign national deal with apostille and notarization in a slower jurisdiction can run longer; we plan around the documentation calendar from day one.
James Loffredo, Founder and Principal
Pinnacle Funding Network
214-846-8602
info@pinnaclefundingnetwork.com
pinnaclefundingnetwork.com
Pinnacle Funding Network is a mortgage broker. PFN does not make loans or credit decisions. Loans are originated through PFN's lending partners. Rates, terms, and programs are subject to change. All loan applications are subject to credit review, property appraisal, and underwriting approval. Rent ranges, DSCR estimates, and deal examples on this page are illustrative; actual deal terms depend on property-specific underwriting.