How much cash can I pull out of a Florida rental?

Up to 75% of appraised value on a one-unit, 70% on 2–4 units, less any existing payoff and closing costs. At the $527,822 average Florida value that is roughly $395,866 of new loan. The binding constraint is usually the ratio on the new payment rather than the LTV cap.

How long do I have to own the property before a cash-out refinance?

Six months of seasoning is the standard requirement to use the new appraised value. Inside six months most lenders limit you to your original purchase price as the value basis. Properties bought at a distressed price and renovated sometimes face a twelve-month season before full appraised value is credited.

Will a cash-out refinance hurt my DSCR ratio?

It can, because the ratio is recalculated on the new, larger payment. A property covering at 0.87x today may fall under 1.0 after a full cash-out. Taking less cash, extending to a 40-year term or using an interest-only period are the three normal fixes.

Can I cash-out refinance a Florida property held in an LLC?

Yes — that is the standard structure on this product. Bring the operating agreement, EIN letter and certificate of good standing, and expect a personal guaranty. Transferring title from your personal name into an LLC before the refinance is also possible, though it can restart seasoning on some shelves, so confirm before recording the deed.

DSCR Cash-Out Refinance · Florida

DSCR Cash-Out Refinance in Florida

Modeled across 101 Florida rental markets — average $527,822 basis, $3,156/mo rent and a 0.87x coverage ratio.

Markets Modeled

101

Avg. Investment Basis

$527,822

Avg. Monthly Rent

$3,156/mo

Avg. Monthly PITIA

$4,014/mo

Avg. DSCR Ratio

0.87x

2026 Conforming Limit

$990,150

DSCR Cash-Out Refinance in Florida

A DSCR cash-out refinance lets you pull equity out of a Florida rental without documenting personal income. The property qualifies itself: the lender orders an appraisal with a market rent schedule, sizes the new loan against the ratio, and wires you the difference. At the $527,822 average Florida value we model, a 75% LTV cash-out sizes to roughly $395,866 before payoff and costs.

Maximum LTV on a DSCR cash-out is typically 75% for a one-unit and 70% for 2–4 units — five points below what you can get on a purchase, because cash-out is the highest-risk transaction type on the shelf. Most lenders require six months of seasoning from your purchase date before they will use the new appraised value rather than your purchase price, and twelve months if the property was acquired at a distressed price and renovated.

How it plays out on a real Florida file

The ratio is calculated on the new, larger payment. That is the mistake that kills these files: a property covering at 0.87x on its current loan may fall below 1.0 once the cash-out payment replaces it. Model the post-close PITIA first, then decide how much to pull. If the number is short, taking less cash or moving to an interest-only structure usually restores the ratio.

Common uses in Florida: funding the down payment on the next acquisition (the most common by a wide margin), retiring a hard-money or bridge loan after a renovation, consolidating a portfolio onto one lender, or converting a short-term construction facility to permanent 30-year financing. There is no restriction on use of proceeds because this is business-purpose lending, and there is no cap on the number of properties you refinance this way.

Florida DSCR underwriting at a glance

Item	Standard	Notes
Minimum down	25% equity retained	STR files start at 25%
Minimum FICO	660	Best pricing at 740+
Minimum ratio	1.0x	To 0.75x with a rate add-on; no-ratio available
Reserves	3–6 months PITIA	$12,043–$24,085 at the state average
Max LTV	75% (1 unit) / 70% (2–4)	Lower for non-warrantable condos
Conforming limit	$990,150	Above this is jumbo DSCR
Entity title	LLC, LP or trust	Personal guaranty required

Averages are calculated across the 101 Florida markets we model. Guidelines vary by lender shelf and are current for 2026.

Statewide figures are averages across the 101 Florida markets we model, each at its own median price and market rent, using an illustrative 7.50% DSCR rate on a 30-year fixed. Nothing here is a loan offer, a rate lock or legal advice. Guidelines vary by lender.

Florida DSCR Cash-Out Refinance FAQ

Florida investor resources

Immokalee, FL investor guide

$285,000 median · 1.19x DSCR

Callahan, FL investor guide

$295,000 median · 1.19x DSCR

DeFuniak Springs, FL investor guide

$285,000 median · 1.19x DSCR

Panama City, FL investor guide

$295,000 median · 1.19x DSCR

Pensacola, FL investor guide

$295,000 median · 1.19x DSCR

Chiefland, FL investor guide

$188,000 median · 1.18x DSCR

DSCR Loan Requirements in Florida

No-Doc Investor Loans in Florida

DSCR vs Conventional in Florida

Collier County investor hub

DSCR payment calculator

Get a Florida DSCR quote

Send the address or the deal you're underwriting and we'll return the ratio, PITIA, down payment and closing timeline. Business-purpose only; we close in an LLC or your personal name.

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DSCR Cash-Out Refinance in Florida

DSCR Cash-Out Refinance in Florida

How it plays out on a real Florida file

Florida DSCR underwriting at a glance

Florida DSCR Cash-Out Refinance FAQ

Florida investor resources

Get a Florida DSCR quote

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