DSCR loans for STR purchase in Florida

[Dan Aharon]

Hi folks! I am about to enter contract on a ~$800k SFH in the Miami metro area in Florida. Looking for DSCR loans, and I was wondering what experience people have had with them. Coverage would be close to 100%, depending on the interest rate and what rental revenue is assumed during the purchase. 20-25% down is fine. Has anyone done similar deals recently? Any good lenders to contact and/or what rates should I expect to find?

[Raymond J. Rodrigues]

@Dan Aharon, depending on your credit score, the rates should start in the 6’s.