A DSCR loan lets you qualify for a mortgage based on the property’s rental cash flow — not your personal income. For foreign national investors, this eliminates the biggest barrier to U.S. real estate financing: the requirement for domestic income documentation. No W-2s. No U.S. tax returns. No employment verification. If the property generates enough rental income to cover the mortgage payment, you can qualify.
DSCR loans represent nearly 29% of all non-QM originations nationwide, making them the dominant financing tool for real estate investors. For foreign nationals investing in Florida’s strong rental market, DSCR is often the fastest and most straightforward path to financing.
How DSCR Works
If the property’s rental income exceeds the mortgage payment and expenses, the DSCR ratio is above 1.0 — and you qualify.
Example: A rental property in Tampa generates $2,800/month in gross rent. After expenses, the net operating income is $2,400/month. The total mortgage payment (principal, interest, taxes, insurance) is $2,200/month. The DSCR ratio is 2,400 / 2,200 = 1.09 — this property qualifies.
Why this matters for foreign nationals: Traditional mortgage programs require U.S. income verification, W-2s, and tax returns — documentation that foreign nationals do not have. DSCR loans bypass all of that. The property’s performance is what matters, not your personal income or where it comes from.
Loan Details
| Maximum LTV | Up to 75% (25% minimum down payment) |
|---|---|
| Loan Amounts | $100,000 to $3,000,000+ |
| Loan Terms | 30-year fixed, 5/6 ARM, 7/6 ARM options |
| Interest Rates | Competitive — call (954) 300-1287 for current rates |
| DSCR Threshold | Typically 0.75 to 1.0+ (varies by lender) |
| U.S. Credit Required | No |
| U.S. Income Required | No |
| Reserves | 12 months (can remain in home country bank) |
| Property Types | 1-4 unit residential, approved condos (investment only) |
| Eligible Transactions | Purchase, rate & term refinance, cash-out refinance, delayed financing |
| Closing Timeline | 30-45 days average |
| Prepayment Penalty | Varies by lender — options available with no prepayment penalty |
Who Is a DSCR Loan Best For?
Foreign National Investors
Purchasing rental property in Florida without U.S. income or credit history.
International Business Owners
Earn income abroad and want to invest in U.S. real estate without complex income verification.
Portfolio Builders
Adding multiple investment properties using each property’s own cash flow to qualify.
High-Net-Worth Individuals
Prefer a streamlined process that focuses on the asset rather than personal financial documentation.
What You Will Need
- Valid passport with an eligible U.S. visa (B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P-1, P-2, R-1, or visa waiver program)
- Proof of property rental income (existing lease agreement or market rent analysis)
- Bank statements showing funds for down payment, closing costs, and 12-month reserves
- U.S. bank account for ACH mortgage payment setup
- Property appraisal (ordered by the lender)
- Completed mortgage application
No W-2s, no U.S. tax returns, no employer verification letters, and no Social Security number required.
Why Florida Is Ideal for DSCR Investment
Florida’s rental market is one of the strongest in the nation for foreign national investors. International buyers purchased $11.8 billion in Florida real estate in the most recent reporting period. The state offers no state income tax, steady population growth driving rental demand, and a tourism economy that supports both long-term and short-term rental strategies.
Key Florida markets for DSCR investment include Miami-Dade, Broward, Palm Beach, Hillsborough (Tampa), Orange (Orlando), Duval (Jacksonville), Lee (Fort Myers), and Sarasota counties. 1st Capital Group is licensed across all 67 Florida counties.
Our Lender Network
We work with over 60 wholesale lenders offering DSCR programs for foreign nationals, including Angel Oak, Deephaven, and Griffin Funding. This means we are not limited to a single lender’s terms or restrictions. We compare programs across our entire network to find the best rate, LTV, and terms for your specific property and financial profile.
Frequently Asked Questions
What DSCR ratio do I need to qualify?
Most lenders require a minimum DSCR of 0.75 to 1.0, depending on the program and LTV. A DSCR of 1.0 means the property’s rental income exactly covers the mortgage payment. Some programs accept ratios below 1.0 if the borrower has strong reserves. We will help you determine the right lender based on your property’s projected cash flow.
Can I use projected rental income if the property is not yet rented?
Yes. For properties that are not currently leased, the lender will use a market rent analysis (typically from the appraiser) to determine the property’s projected rental income for DSCR calculation purposes.
Can I do a cash-out refinance with a DSCR loan?
Yes. Cash-out refinance is available on DSCR programs for foreign nationals. This allows you to pull equity from existing investment properties. LTV limits on cash-out refinances are typically lower than purchase transactions.
Can I hold the property in an LLC?
This varies by lender and program. Some DSCR programs allow entity vesting (LLC or corporation), while others require individual borrower vesting. We will match you with a lender that accommodates your preferred ownership structure.
Are short-term rentals (Airbnb) eligible?
Some lenders accept short-term rental income for DSCR calculation, while others require traditional long-term lease agreements. If you are planning a short-term rental strategy, let us know upfront so we can identify the right program.
How many DSCR properties can I finance?
There is no hard limit on the number of DSCR properties you can finance. Each property is evaluated independently based on its own rental cash flow. Investors building a portfolio of Florida rental properties commonly use DSCR loans to scale without the personal income limitations of traditional mortgages.
Get a DSCR Loan Quote
Tell us about your investment property and we will identify the best DSCR program from our network of 60+ lenders. No U.S. income or credit required.
Related Programs: All Foreign National Programs | Investment / Buy-to-Let | 80% LTV Purchase | Super Jumbo Loans
Related options: review the main DSCR loans guide, broader foreign national mortgage programs, and bank statement loans for self-employed borrowers.
1st Capital Group as dba of GFL Capital Mortgage Inc | Company NMLS #64367 | Nick Lazarevic NMLS #38639 | Licensed Mortgage Lender | Equal Housing Opportunity | All loans subject to lender underwriting approval. Programs, rates, terms, and conditions are subject to change without notice. Not a commitment to lend.