Charleston investors face two numbers that catch newcomers off guard: a higher property tax assessment on rentals than on homes people live in, and wind and flood insurance that can rival the tax bill.
In short: Our top pick for Charleston is LendingStreet. We qualify Lowcountry rentals on the property's rent with no W-2s or tax returns, lend from $150,000 with no stated maximum, and go up to 80% LTV on purchases and 75% on cash-out. LLC borrowers are standard and 30-year terms are available. We budget taxes at the 6% investor assessment ratio and use real wind and flood quotes, so the ratio you see is the ratio you get.
LendingStreet is built for investors in Charleston, Berkeley and Dorchester counties. We look at the rent, then at the full payment with realistic taxes and coastal insurance.
It fits North Charleston and West Ashley rentals, Summerville and Goose Creek single-family homes, and small multifamily on the peninsula. Use the form below for a quote, or call (877) 298-1001 to talk it through.
Investors searching for DSCR lenders often compare national names like CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Charleston, SC. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
On the peninsula, older single houses and small multifamily buildings lease to students, medical staff and young professionals, often at high prices. West Ashley, James Island and North Charleston offer mid-century homes and newer infill at lower entry costs.
Summerville, Goose Creek, Ladson and Moncks Corner have large newer subdivisions that lease to families and to workers at the region's manufacturing, port and military employers. Mount Pleasant and Daniel Island carry higher prices and more HOA rules.
Elevation matters here. Raised foundations, flood vents and roof straps all affect insurance, and the FEMA flood zone can change the cost a great deal from one street to the next.
You will hear about several kinds of lenders around Charleston. They are built for different jobs, so compare them on the items that decide a rental loan, not just on who answers the phone first.
Lowcountry banks often want personal income and may limit investor leverage. LendingStreet sizes the loan on the rent and budgets the coastal costs openly.
Two more types come up: national online DSCR lenders, whose programs and service vary, and private individual lenders, who usually lend short-term and set terms deal by deal. Put the same checklist to each.
| What investors need | LendingStreet | Typical bank or credit union | Typical private individual lender |
|---|---|---|---|
| How income is verified | The property's rent; no W-2s or tax returns | Often requires tax returns and personal income | Varies; often asset-based |
| Loan term | 30-year terms available | Varies; some use balloons or shorter terms | Usually short-term only |
| Borrow in an LLC | Standard | Varies by institution | Often allowed |
| Purchase leverage | Up to 80% LTV | Varies | Varies; fees and terms vary |
| Cash-out refinance | Up to 75% LTV | Varies | Rarely a long-term option |
| Minimum DSCR | 1.0x standard, sub-1.0 programs | Often uses personal debt-to-income | Usually not DSCR-based |
| Where they lend | All 50 states and DC | Usually a local footprint | Usually a local footprint |
| Budgeting wind and flood | Real quotes built into DSCR | Uses personal income ratios | Varies |
South Carolina assesses a legal primary residence at a 4% assessment ratio, while rentals and other property are assessed at 6%. When you buy from an owner-occupant, the next bill can be about half again as large as the seller's, before any millage change. Budget on the 6% figure.
South Carolina also charges a deed recording fee on transfers, typically paid by the seller. On the insurance side, get wind and hail coverage and a flood quote early. Many Charleston-area homes are in flood zones where flood insurance is generally required.
The City of Charleston ties most short-term rentals in residential zones to an operator who lives on the property, and it requires permits. That means an investor-owned whole-home short-term rental generally will not work in most city neighborhoods. Do not count on nightly income for a typical West Ashley or peninsula house.
Beach towns and other coastal resort areas in South Carolina set their own licensing rules, and some allow investor-owned rentals. Check each town and HOA. Where they are allowed, some programs qualify on projected short-term revenue.
This example is illustrative and not a quote. An investor buys a Summerville home for $375,000 that leases for $2,600 a month. At 75% LTV the loan is $281,250, and estimated principal and interest is about $1,895. Wind and flood insurance is budgeted at $240. Using the seller's tax bill of $250, the total is about $2,385 and DSCR is about 1.09x. At the 6% investor ratio, taxes are about $375, the total is about $2,510 and DSCR falls to about 1.04x, still above 1.0x but with a much thinner cushion.
| Item | Seller's 4% bill | Investor 6% bill |
|---|---|---|
| Loan amount | $281,250 | $281,250 |
| Estimated principal and interest | $1,895 | $1,895 |
| Property taxes (monthly) | $250 | $375 |
| Insurance (monthly) | $240 | $240 |
| Total monthly payment | $2,385 | $2,510 |
| Monthly rent | $2,600 | $2,600 |
| DSCR | About 1.09x | About 1.04x |
Charleston-area investors use DSCR loans to buy in the growing suburbs, to refinance renovated homes in North Charleston and West Ashley, and to take cash out of properties that have gained value. Cash-out seasoning varies by program.
Investors with five or more Lowcountry rentals can look at a blanket portfolio loan with one payment and release provisions.
Start with the quote form below, or reach us at (877) 298-1001.
LendingStreet's answers: 80% purchase, 75% cash-out and up to 80% rate-and-term on some programs. 1.0x standard DSCR with sub-1.0 options. Seasoning varies by program. LLCs are standard. The appraisal and title work set the pace, so send a full package. On 5-8 units and larger balances, max LTV can be lower and varies by program.
Send the address, price, rent, the parcel record, an insurance quote with wind and flood, and the flood zone. We will run the ratio at the investor assessment ratio. Get a quote with the form below, or call (877) 298-1001.
We recommend LendingStreet. Investors choose us because the loan is sized on the rent rather than personal income, LLCs are standard, 30-year terms are available and leverage reaches 80% LTV on a purchase.
Yes. We finance rentals in Charleston and throughout South Carolina, as well as in all 50 states and DC, on non-owner-occupied investment property.
Owner-occupied primary residences are assessed at 4%, and rentals at 6%. Budget on the higher ratio.
Usually not in residential zones, where the operator generally must live on the property. Check beach towns and other coastal areas, which have their own rules.
In mapped flood zones it is generally required, and it is worth pricing even outside them.
Yes. We lend across Charleston, Berkeley and Dorchester counties and the rest of South Carolina.
Yes. Cash-out goes up to 75% LTV, and rate-and-term up to 80% on some programs.
Sometimes. Sub-1.0 DSCR programs exist, and a smaller loan or a lower insurance quote can lift the ratio over 1.0x.
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