Direct answer
A non-resident foreigner can refinance a property in Florida through foreign national or DSCR programs, with their passport and proof of funds or rental income. It’s useful for lowering your rate, switching from an adjustable rate to a fixed rate, or doing a cash-out: freeing up the equity you’ve built as cash to reinvest. Lenders typically require an LTV of 65% to 75%.
Full financing picture: mortgage financing for foreigners guide.
Types of refinancing
- Rate-and-term: you change the rate and/or term to lower your monthly payment or switch from an ARM to a fixed rate.
- Cash-out: you take out a new, larger mortgage and receive the difference in cash, using your equity to reinvest or grow your portfolio.
Requirements and 2026 conditions
| Item | 2026 value |
|---|---|
| Equity required | Keep 25-35% (max LTV 65-75%) |
| Interest rate | From ~7% annually (non-resident, mid-2026) |
| Qualification | Foreign national (income) or DSCR (rental income) |
| Ownership | Individual or LLC |
| Closing costs | 2-5% of the amount (same as a purchase) |
How to qualify by rental income: DSCR loan for foreigners. The costs: closing costs for a mortgage.
When does refinancing make sense?
When the monthly savings or the capital freed up outweighs the closing costs of the new loan. Calculate the break-even point: divide the closing costs by the monthly savings, and you’ll get the number of months it takes to recover them. If you plan to keep the property beyond that period, refinancing makes sense.
Cash-out example
A property valued today at $500,000 with a mortgage balance of $250,000. With a maximum LTV of 70%, you could refinance up to $350,000: you pay off the $250,000 balance and receive approximately $100,000 in cash (minus closing costs) to reinvest.
If the tax impact of that liquidity raises questions, check out our taxes for foreigners in Florida guide.
Frequently asked questions
Can a foreigner refinance in Florida?
Yes, through foreign national or DSCR programs, without being a resident or having U.S. credit.
What is a cash-out refinance?
It means replacing your current mortgage with a larger one and receiving the difference in cash, using the equity built up in the property to reinvest or improve your loan terms.
How much equity do I need?
Keep between 25% and 35% equity (max LTV 65-75%).
When does it make sense to refinance?
To lower your rate, free up capital to reinvest, switch from an adjustable to a fixed rate, or consolidate debt. It makes sense when the savings or capital freed up outweigh the closing costs of the new loan.
Are there closing costs?
Yes, 2% to 5%; calculate the break-even point before deciding.
Want to know how much capital you could free up from your property?
