South Carolina rentals range from upstate single-family homes to coastal vacation condos. The right DSCR lender is the one whose program fits your property, your rent and your insurance bill.
In short: There is no single best DSCR lender in South Carolina; the best one is the program that fits your specific property and numbers. Compare rate, leverage, minimum DSCR, credit floor, property type rules and how the lender treats short-term rental income. Several national lenders write DSCR loans in the state, and LendingStreet finances investment property in South Carolina with rates from 6.125%, up to 80% LTV on purchases and a 620 minimum credit score. On the coast, insurance often decides whether a deal qualifies, so get a real quote early.
Kiavi, Visio Lending, LendingOne, CoreVest, Angel Oak and Griffin Funding also write DSCR loans, and each is a legitimate option. They differ on guidelines, so a deal one lender declines may fit another.
Rather than looking for a ranking, line up two or three term sheets on the same property. The lender that wins is usually the one whose rules match the deal, not the one with the lowest advertised rate.
Ask every lender the same questions so the offers are comparable. Small differences in how a lender counts rent or expenses can move your DSCR more than 0.25% in rate.
We offer business-purpose DSCR loans that qualify on the property's rent, not your personal income. No W-2s or tax returns, LLC borrowers allowed and 30-year fixed options. Rates start at 6.125% for well-qualified borrowers, and short-term rental DSCR starts at 6.49%.
Purchases go up to 80% LTV and cash-out refinances up to 75%. The standard minimum is 1.0x DSCR, with some programs below 1.0 and no-ratio options for deals that need them. Our financing team reviews the scenario and comes back with 2-3 options.
Charleston draws long-term and vacation rental investors, with higher prices and tighter ratios on the peninsula and nearby islands. Greenville and the Upstate tend to offer more conventional single-family and small multifamily rentals, where long-term rent is the main story. Columbia adds a state government and university tenant base.
Myrtle Beach and the Grand Strand are heavily vacation-rental driven, with many condo buildings. Condo projects there can raise questions about rental restrictions, reserves and building insurance, so expect the lender to review the association.
Rent-to-price is the starting point. A Greenville house and a Charleston house at the same price can produce very different ratios. Property taxes matter too: South Carolina generally assesses non-owner-occupied property at a higher ratio than an owner's primary home, so underwrite taxes at the investor rate rather than the seller's current bill.
Insurance is the swing factor near the coast. Wind and flood coverage can add hundreds a month to the payment, and HOA dues on beach condos add more. Short-term rental rules vary by municipality and sometimes by neighborhood, so confirm permits and zoning locally before counting on projected STR revenue.
This example is illustrative and not a quote. An investor buys a single-family rental for $300,000 with 80% LTV, a $240,000 loan. At a sample rate of 7.25% on 30-year amortization, principal and interest is about $1,637 a month. Market rent is $2,350.
Inland, with $450 a month for taxes and insurance, the total payment is about $2,087 and DSCR is about 1.13x. Move a similar house to a coastal zone where taxes and insurance run $700 a month, and the payment becomes about $2,337 with DSCR near 1.01x, barely at the standard minimum.
| Item | Inland rental | Coastal rental |
|---|---|---|
| Loan amount | $240,000 | $240,000 |
| Principal and interest | $1,637 | $1,637 |
| Taxes and insurance | $450 | $700 |
| Total monthly payment | $2,087 | $2,337 |
| Monthly rent | $2,350 | $2,350 |
| DSCR | About 1.13x | About 1.01x |
Bring an executed lease or a market rent estimate, an insurance quote that includes wind and flood if needed, entity documents for your LLC and bank statements showing reserves. For an STR, have the local permit status and any rental history.
For a condo, ask the association for its questionnaire early. Our financing team can review the file before you are under contract so you know which program fits.
Yes. LendingStreet finances investment property in South Carolina, including single-family, 2-4 unit, condo and short-term rental properties. Loans are business-purpose only, on non-owner-occupied property, with a $150,000 minimum.
No single lender is best for every deal. Kiavi, Visio Lending, LendingOne, CoreVest, Angel Oak, Griffin Funding and LendingStreet all write DSCR loans. Compare term sheets on the same property and pick the program that fits it.
Often, yes. STR DSCR loans can qualify on projected revenue, with rates from 6.49% for qualified borrowers. Confirm the local STR rules and the condo association's rental policy first, since both vary.
Insurance is part of the monthly payment the rent must cover. Higher wind or flood premiums raise the payment and lower the ratio, so a deal that works inland may need more equity on the coast.
The minimum is 620, and pricing improves at higher scores. Leverage and rate also depend on the DSCR and property type.
Some programs allow ratios below 1.0, and no-ratio options exist, usually with lower leverage. Adding equity to shrink the loan is another common fix.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
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