Tampa Bay DSCR Loan Questions, Answered

Search the address on the FEMA Flood Map Service Center at msc.fema.gov. Many county and city websites also have local flood-zone lookups. Write down the zone and base flood elevation, and get an elevation certificate if one is available. It can help with the flood quote.

After a flood or storm, the local floodplain administrator compares the repair cost with the building’s pre-damage market value. If it meets the threshold, which is half the value under FEMA’s minimum and lower in unincorporated Pinellas County, the building generally has to be brought up to current floodplain standards during the repair.

Possibly. Florida requires insurers to offer windstorm discounts for qualifying mitigation features documented on form OIR-B1-1802. A lower windstorm premium lowers the monthly payment the lender uses, which can raise your ratio. The discount depends on the home’s features and the insurer.

Usually, once the repairs are permitted and closed, any substantial damage requirements are met, the home is insurable and it is leased or ready to lease. Lenders and appraisers will look at the repair quality and documentation, so keep the permits, invoices and inspection records.

Usually a landlord or dwelling-fire policy, windstorm coverage (included or written separately) and flood coverage when the flood zone or lender requires it. The lender counts every premium in the monthly payment.

It depends on the program. Many wholesale programs look for a ratio at or above 1.00, meaning rent covers the full payment, and some consider lower ratios with stronger credit, more reserves or more equity.

Yes. Community development district assessments are billed with the property tax and are part of the property’s carrying cost. Lenders usually escrow or count the full bill, so include them when you estimate the payment on a newer Hillsborough or Pasco home.

Usually not to prove income. The property’s rent is the qualifying income. Lenders still review your credit, your reserves and the property itself.

Some programs allow it, using booking history or a market-based projection; others use only long-term market rent. The property must be allowed to operate as a short-term rental under city, zoning and association rules.

Yes. Most DSCR programs allow title in an LLC. Lenders typically ask for the articles of organization, operating agreement and EIN letter, and members usually sign a personal guarantee.

Not with these loans. DSCR financing through Loan Daddy is for business-purpose, non-owner-occupied property only. If you will live there, even for a short time, you need a consumer product, and we do not arrange those.

No. Living in any unit makes the property owner-occupied. Every unit must be rented to tenants for a business-purpose DSCR loan.

Single-family rentals, 2-4 unit properties, townhomes and condos subject to project review, short-term rentals where allowed, and small apartment buildings of 5-10 units through some programs.

No. DSCR Loans Tampa Bay is a Loan Daddy LLC brand, and Loan Daddy LLC is a mortgage broker, not a lender. We arrange and shop financing from wholesale lenders; the lender you choose underwrites and funds the loan.

No. Pricing comes from wholesale lenders, depends on the property, the ratio, credit and other factors, and changes often. We compare live programs once we see your scenario.

The address and county, flood zone, insurance quotes, rent or lease, the full tax bill including any CDD, storm-repair permits if relevant, the price or value, the loan amount and how you will hold title. Start at the apply page.