South Carolina DSCR Loan Lenders for Long-Term Rental Homes
Are you seeking long-term private financing for a residential rental property in South Carolina? On this page you'll find a list of lenders that offer these “DSCR” loans for single family homes, condos, and 2-4 unit rental properties in South Carolina’s urban areas. Some lenders consider vacation rentals (aka short-term rental or STR). The maximum loan-to-value is 80%. For a purchase, investors need a minimum down payment of 20%, and it could be higher depending on the debt service coverage ratio (DSCR), borrower’s credit score and location. The minimum credit score is 680 for most lenders. The loans terms range from 5 to 30 years.Searching...
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RCN Capital
Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans
American Heritage Lending
Direct Lender for Residential Real Estate Investors Nationwide
Coastal Equity Group
Direct Private Lender for Real Estate Investors in the Southeast
Residential Capital Partners
100% Financing for Residential Rehab Projects (NO Money Down)
HouseMax Funding
Hard Money Loans to Fund Your Next Big Project
Lima One Capital
The Nation's Premier Lender for Real Estate Investors
i Fund Cities
Great F#*%ing Loans, Built By Investors For Investors
Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Griffin Funding
DSCR Long-Term Rental Loans for Residential Investment Properties
ZINC Financial
Direct Lender for Real Estate Investors. Established in 2006.
LendingOne
Rental, Fix & Flip, New Construction, Fix to Rent, SFR Portfolio Loans Nationwide
Kiavi
Servicing 12,000+ Real Estate Investors Across the Country
Center Street Lending
Smarter Loans for Residential Investors
Conventus
We Fund Fast While Providing Excellent Service and Competitive Pricing
South Carolina DSCR Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for South Carolina DSCR long-term rental loans in the 2nd quarter of 2024 was 7.97%. The average loan amount was $274,777. These stats are the average of 45 loans funded for residential rental properties in South Carolina between April 1, 2024 and June 30, 2024 by multiple lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
Funded DSCR Long-Term Rental Loans in South Carolina
DSCR Refinance Short-Term Rental Loan for SFR in Bluffton, South Carolina
$1,683,000
Navigator Private Capital, a nationwide private real estate lender, funded a $1,683,000 1st lien position DSCR refinance loan secured by a single-family short-term rental in the Palmetto Bluff neighborhood of Bluffton, SC. The property was appraised at $2,245,000 so the loan-to-value was 75%. We paid off a previous bridge loan balance of $1,763,125. Our Client secured its purchase in the fall of 2022 with a short-term bridge loan from a different lender. When the term was up, she went in search of permanent financing and found us. The Borrower did not request any cash out. In fact, she had to bring $139,542 in cash to the closing to cover the difference between the previous loan balance, plus point and closing costs. We were happy to provide her with a 30-year rental loan with escrows at a competitive fixed rate. Now our Client is in the position to manage this income-producing rental property knowing that the interest rate is fixed and payments are amortized. In this erratic economy, that is no small thing. The subject property is located in a vacation area and was in excellent condition. It was approximately 5,157 square feet set in a 0.36-acre lot. The Borrower had excellent credit. They plan to continue the short-term rental and eventually refinance as an exit strategy. The loan term was set at 30 years. This DSCR refinance short-term rental loan was funded in March 2023.
