DSCR Loans in South Carolina
Finance South Carolina rental property based on the property's rent, not your paycheck. No W-2s, no tax returns and no employment verification, with a 0.75x DSCR floor, rates from 5.75% and up to 85% LTV.
- Qualify on rent with real South Carolina taxes and insurance
- Single-family, condo, 2-4 unit and short-term rentals considered
- 14-day closings · LLCs and foreign nationals welcome
- No cap on the number of financed properties
Get your South Carolina DSCR quote
No tax returns · same-day quote · no hard credit pull to start.
- Share the address, rent and price or value
- Get a quote with real taxes and insurance
- Close in as fast as 14 days
South Carolina rental market
Why a DSCR loan fits South Carolina investors
South Carolina market snapshot
Charleston, Myrtle Beach, and Greenville growth, coastal vacation rentals, and military communities.
Why DSCR fits
A mix of vacation and long-term rentals gives investors flexible strategies, all underwritten by property income.
| DSCR floor | 0.75x with compensating factors |
| Max LTV | Up to 85% on purchase |
| Rates from | 5.75% (strongest profiles) |
| Min FICO | 620+ |
| Qualifying income | Long-term rent or documented short-term-rental income |
| Vesting | Individual, LLC or entity · foreign nationals eligible |
| Closing | As fast as 14 days |
Local market details
South Carolina rental demand, housing and local anchors
Rental demand follows jobs, universities, healthcare, shopping and lifestyle. Here is a general look at the factors that shape South Carolina rental markets.
Population
About 5.1 million residents (2020 Census, rounded).
Rental market overview
Charleston, Greenville-Spartanburg, Columbia, and Myrtle Beach lead demand, with Hilton Head and the coast supporting vacation rentals and Fort Jackson adding military renters.
Housing trends
Strong in-migration has kept prices climbing, especially on the coast. Coastal insurance and flood costs need careful review.
Major employers
Boeing South Carolina, BMW (Spartanburg), Michelin North America, Volvo Cars, Prisma Health, MUSC, Blackbaud
Hospitals & healthcare
MUSC Health, Prisma Health, Roper St. Francis Healthcare, McLeod Health
Colleges & universities
University of South Carolina, Clemson University, College of Charleston, The Citadel, Furman
Malls & shopping
Haywood Mall (Greenville), Columbiana Centre, Tanger Outlets (Myrtle Beach), Citadel Mall
Attractions
Charleston historic district, Myrtle Beach, Hilton Head Island, Fort Sumter, Congaree National Park
Local details are general, approximate context (population rounded from the 2020 Census) and change over time. Verify specifics for your property and city.
Requirements
South Carolina DSCR loan requirements
| Down payment | Typically 20-25% on purchase; as little as 15% (up to 85% LTV) for strong profiles |
| Credit | 620+ FICO; best pricing at 720+ |
| DSCR | From 0.75x with compensating factors; 1.0x+ standard |
| Reserves | Typically 3-6 months of PITIA |
| Rent proof | Lease, or appraiser market-rent schedule (Form 1007) |
| Property types | Single-family, condos, 2-4 unit, small multifamily, short-term rentals where permitted |
| Uses | Purchase, rate-and-term refinance, cash-out refinance |
Free tool
South Carolina DSCR calculator
Enter your South Carolina property's rent, loan terms and carrying costs to estimate your DSCR and monthly cash flow.
Property & loan
Illustrative only; not a rate quote or commitment to lend. Your final DSCR is based on the property's actual rent (lease or appraiser rent schedule), taxes and insurance.
Answers
South Carolina DSCR loan FAQ
What is a DSCR loan in South Carolina?
A DSCR loan in South Carolina qualifies you on the rental income of the property instead of your personal income. We divide the monthly rent by the full monthly payment (principal, interest, taxes, insurance and any HOA). No W-2s, tax returns or employment verification are required.
What DSCR ratio do I need for a South Carolina rental?
Most lenders look for 1.0x or higher. Our program accepts a DSCR as low as 0.75x with compensating factors such as reserves, which can help in South Carolina markets where taxes, insurance or HOA dues are high compared with rent.
How much can I borrow on a South Carolina investment property?
Up to 85% LTV on a purchase for strong borrower profiles, and typically 75 to 80% on a cash-out refinance. The maximum depends on credit score, DSCR, property type and loan size.
What credit score is needed for a DSCR loan in South Carolina?
A minimum 620 FICO score is accepted. Higher scores earn better pricing, with the best rates generally reserved for 720 and above.
Can I buy South Carolina rental property in an LLC or as a foreign national?
Yes. You can close in an LLC or other entity, and foreign nationals and first-time investors are welcome. An attorney or tax advisor can help you choose the right structure.
How fast can I close a DSCR loan in South Carolina?
As fast as 14 days with a complete file. Appraisal scheduling, title work and insurance quotes are the usual timing factors.
Can I use a DSCR loan for a short-term rental in South Carolina?
Yes, where short-term rentals are allowed. Check local zoning, licensing and HOA rules for the specific city before you buy, because rules differ from one municipality to the next.
Ready to finance your South Carolina rental?
Free quote · no hard credit pull to start · same-day terms.