Quick answer
Yes, but fewer lenders offer it and terms are tighter than on a primary home. Florida investment-property HELOCs typically cap at 65-70% CLTV, require a 720+ FICO, and call for 6-12 months of reserves across all properties, with 75% of documented rent counted as income. A DSCR cash-out refinance may fit better for a large, fixed-rate withdrawal.
Florida investment-property HELOC terms (July 2026)
| Term | FL primary residence | FL investment property |
|---|---|---|
| Rate | ~7.05% | ~7.85%–8.55% |
| Max CLTV | 85% | 65–70% |
| Min FICO | 680 | 720+ |
| Reserves | 2–6 mo PITIA | 6–12 mo across ALL properties |
| Closing costs | $0–$500 | $500–$2,500 |
| Rental income counted | Not applicable | 75% of documented rent (Sched E average) |
HELOC vs DSCR cash-out refi — Florida investor decision tree
Use the HELOC when:
- You already own the property and want to tap existing equity
- Your first mortgage is at a low rate you want to preserve
- You'll draw and repay flexibly (bridge to next acquisition, seasonal cash-flow smoothing)
- Loan amount needed is under 30% of property value
Use DSCR cash-out refi when:
- You want to lock a fixed rate on a large withdrawal
- Your personal income won't qualify but the property's rent covers the payment (DSCR of 1.20+)
- Your existing first mortgage is already at 7%+ and refi improves it
- You need the funds all at once (down payment on next deal)
Florida-specific quirks
Homestead exemption doesn't apply to investment property
Florida's Homestead Exemption ($50K assessed value reduction plus Save Our Homes 3% annual cap on assessments) applies only to your primary residence. Investment properties are assessed at full market value annually. This inflates the tax burden on FL rentals and is worth factoring into any HELOC decision.
Short-term rental treatment varies by county
Miami-Dade, Broward, and Orange County have STR-friendly HELOC lender pools. Panhandle and North Florida counties: fewer options for STR-heavy income. Confirm the property type classification with each lender before applying.
Insurance costs kill some deals
Florida property insurance has spiked 40–90% in the last three years depending on county. Investor HELOC lenders require full replacement-cost coverage. If your insurance quote came in at $8,000+/year on a $500K rental, the increased PITI can flip your DTI enough to disqualify you at some lenders.
Wind and flood zones
Properties in high-velocity wind zones (HVHZ) or FEMA Special Flood Hazard Areas require additional coverage that some HELOC lenders won't touch. Coastal FL rentals often need portfolio-lender pathways rather than conforming.
What to look for in a Florida investor HELOC lender
Most large national banks don't offer HELOCs on Florida rentals, so confirm a lender does before you pay for an appraisal. Then compare these points on every quote:
- Non-owner-occupied lending in writing. Ask for the investor HELOC terms, not the primary-residence rate sheet.
- CLTV cap on investment property. 65-70% is typical in Florida. Ask whether it changes with credit score or line size.
- Wind, flood and insurance rules. Ask whether they lend in HVHZ wind zones and FEMA flood zones, and what coverage they require, before you apply.
- Short-term rental policy. Ask whether they count STR income in your county and how they document it.
- How rent is counted and reserves. Confirm the share of documented rent they use and how many months of reserves they want across all properties.
- Margin over prime and all fees. Compare the margin, appraisal and origination fees, any annual fee and any early-closure fee, not just the intro rate.
- LLC vesting. If the rental is titled in an LLC, confirm the lender will lend on it.
Where our program fits: we lend on rentals, including LLC-owned properties, through our investment property HELOC. We consider credit scores down to 600 with compensating factors and debt-to-income up to 50%, and self-employed landlords can qualify on bank statements, a P&L, or 1099s. We offer HELOCs and fixed-rate home equity loans. Wholesale non-QM investor programs, some of which are more flexible on STR income, are available only through a broker, and because we're both a lender and a broker, we can shop those alongside our own program, so one application gets you several quotes.
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