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Find loans that will work for this scenario: Property Type: Condo, Property State: Florida, Lien Position: 2nd Lien, Loan Purpose: Cash Out, Occupancy Type: Investment Property, Credit Score: 850, Min Debt Service Coverage Ratio (DSCR): 1, LTV: 29.49%, Loan Amount: $230,000, Months of Reserves: 12 months, Income Type: Debt Service Coverage Ratio (DSCR & No Ratio DSCR), Property Value: $780,000, Citizenship: US Citizen, Prepayment Penalty: 3 Year. These are my loan scenario requirements, please recommend programs that will work for this scenario.

Here are your best matches for a Florida condo, 2nd-lien DSCR/No-Ratio DSCR cash-out at $230,000, ~29.49% LTV, investment use, 12 months reserves, US Citizen, with a 3-year PPP:

Top matches

The Lender — the2nd: Eligible and meets all requirements, including a 3-year prepay.
A&D Mortgage — Closed-End Second Lien: Eligible; DSCR/No-Ratio allowed; 3-year prepay allowed for investment properties.

Other lenders and fit summary

Lender	Program(s)	Fits?	Key notes
The Lender	the2nd	Yes	FL warrantable condo, 2nd lien DSCR/No-Ratio cash-out OK; 3-year PPP allowed; your $230k at ~29.5% CLTV and DSCR ≥1.00 fits.
A&D Mortgage	Closed-End Second Lien	Yes	2nd lien DSCR/No-Ratio on investment condos allowed; 3-year PPP allowed; low CLTV and strong credit fit well.
AmWest	Alt Doc Closed-End Second	Partial	Everything fits except PPP: offers up to 2-year PPP (can buy down to 1/no PPP). No 3-year option.
Deephaven	Equity Advantage DSCR, DSCR, Equity Advantage HELOC	No	EA DSCR 2nd-lien: condos not allowed. First-lien DSCR OK (3-yr PPP), but you asked 2nd lien. HELOC is no-doc and no PPP.
NQM Funding	DSCR Supreme, Investor DSCR No Ratio	No	DSCR/No-Ratio are first-lien only; seconds on investment not allowed.
Champions Funding	Accelerator DSCR 1-4 Unit	No	First-lien only.
FundLoans	SPECTRUM ELITE	No	DSCR offerings are first-lien only; “HELOCs and 2nd liens not permitted” ^[4]^[14]. 3-yr PPP standard on first-lien DSCR ^[3].
Change Wholesale	—	No	Investor DSCR prohibits subordinate financing; first-lien DSCR on FL condos with 3-yr PPP is OK if you switch to 1st lien ^[9]^[2]^[33].
Wholesale Mortgage Direct (WMD)	Multiple (KEYSTONE/MyEQuity/Nitro)	No	2nd-lien DSCR with 3-yr PPP excludes condos. First-lien DSCR with 3-yr PPP is available on condos; or 2nd-lien condo with Full-Doc (not DSCR).
Angel Oak	—	Partial	Seconds available (Closed-End Second/HELOC) on warrantable condos at your LTV, but seconds aren’t DSCR and typically have no PPP. First-lien DSCR offers 3-yr PPP.

Recommendations

Proceed with:

the2nd (The Lender) — cleanest match with 3-year PPP.
Closed-End Second Lien (A&D Mortgage) — also aligns with your specs and 3-year PPP.

Backup if you can flex PPP:

Alt Doc Closed-End Second (AmWest) — same structure but max 2-year PPP.

Quick next steps to lock eligibility and pricing

Confirm the condo is warrantable (no condotel/non-warrantable features).
Provide the current 1st mortgage statement (rate, balance, payment) for CLTV/subordination.
Confirm DSCR approach: standard DSCR ≥1.00 (lease/1007) vs. No-Ratio.
Confirm number of financed properties and vesting.

Want me to price both The Lender and A&D side-by-side with today’s rates and fees, and show max cash-out under each?

Review the updated loan scenario and answer again.

Short answer

Best match: A&D Mortgage — Closed-End Second Lien. It meets every requirement (FL condo, 2nd lien cash-out, investment, DSCR or No-Ratio, $230k, ~29.5% CLTV, 12 months reserves, US citizen) and allows a 3-year prepayment penalty.

Recommended program

Closed-End Second Lien — A&D Mortgage
- Allowed: Florida condos (warrantable and non-warrantable), investment, cash-out, 2nd lien, DSCR or No-Ratio, 3-year PPP, very low CLTV, high FICO
- Notes: Validate condo review type and first-lien balance for final CLTV; STRs typically capped at 75% CLTV; LLC vesting OK (limits apply)

Other lenders — fit summary

Lender	Program(s)	Fits?	Key notes
A&D Mortgage	Closed-End Second Lien	Yes	DSCR/No-Ratio seconds on FL condos allowed; 3-year PPP OK; your metrics fit well.
AmWest	Alt Doc Closed-End Second, Alt Doc-HELOC	No (PPP)	Eligible structure, but PPP limited to 0–2 years; HELOC has no PPP ^[2].
The Lender	the2nd, the2nd Plus	No (income)	Seconds/cash-out on FL condos OK and 3-year PPP on the2nd Plus, but DSCR/No-Ratio not accepted; requires Full Doc/Bank Statements/1099/P&L/WVOE.
Deephaven	Equity Advantage DSCR, DSCR, Equity Advantage HELOC	No	No condo for 2nd-lien DSCR and no PPP; 1st-lien DSCR allows 3-year PPP; HELOC not DSCR and no PPP.
NQM Funding	DSCR Supreme, Investor DSCR No Ratio	No	DSCR/No-Ratio are first-lien only; seconds not offered for DSCR.
Champions Funding	Accelerator DSCR 1-4 Unit	No	DSCR is first-lien only; seconds not offered.
FundLoans	SPECTRUM DSCR/No-Ratio	No	DSCR/No-Ratio are first-lien only and have a $300k min loan amount; your $230k second is ineligible ^[1] ^[4].
Change Wholesale	Investor DSCR	No	DSCR is first-lien only; second liens not permitted ^[2].
WMD	KEYSTONE/MyEQuity/Nitro	No	2nd-lien DSCR with 3-year PPP excludes condos; 1st-lien DSCR (Nitro) has 3-year PPP.
Angel Oak	CES/HELOC seconds	No (income)	Seconds on condos allowed and 3-year PPP permitted, but DSCR/No-Ratio not offered for seconds; income types are Full Doc/Bank Statements ^[1].

Bottom line: For a 2nd-lien DSCR/No-Ratio with a 3-year PPP on a Florida condo, A&D Mortgage’s Closed-End Second Lien is the clean fit.

To proceed

Confirm condo warrantability and HOA/project status.
Confirm DSCR method: DSCR ≥1.00 (lease/1007) or No-Ratio.
Share current 1st mortgage payoff and payment to finalize CLTV and DSCR.

Would you like me to draft a pricing term sheet for A&D (3-year PPP) and show estimated payment and costs?