South Carolina rewards investors who think about the tax bill before the refinance. Rentals are assessed at a higher ratio than a primary home, and that one fact changes how much loan many South Carolina properties can carry.
In short: For a South Carolina rate-and-term refinance, we recommend LendingStreet first. The loan is sized on the property's rent, your LLC can borrow, leverage reaches 80% LTV on some programs, and the new term can run 30 years. In South Carolina, investment property is assessed at a 6% assessment ratio versus 4% for a qualifying primary residence, so we size the refinance on the investor tax bill from the start. Start with the form below, or call (877) 298-1001.
South Carolina investors choose LendingStreet for rate-and-term refinances because the loan is designed around the rental itself. We qualify you on the property's rent instead of W-2s or tax returns, and title can stay in your LLC.
Expect DSCR loans from $150,000 with no stated maximum, leverage up to 80% LTV on some rate-and-term programs, a 1.0x standard ratio, a 620 minimum score and terms out to 30 years.
Start with the form below, or call (877) 298-1001 to talk through your South Carolina payoff and rent.
Investors searching for DSCR refinance 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 South Carolina. 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. |
Investors in Columbia, Greenville, Spartanburg, Rock Hill and the Charleston suburbs often buy dated single-family homes with a hard money or bridge loan, renovate, and lease them. The rate-and-term refinance replaces that short-term note with a 30-year loan sized on the new rent.
Others own rentals on a bank loan that is nearing a balloon, or a loan with terms they no longer want. A DSCR refinance looks at the property's rent, lends to the LLC, and does not ask for W-2s or tax returns.
Along the coast, Myrtle Beach and Charleston-area rentals face higher insurance costs and, for vacation rentals, local permit and licensing rules that vary by city and county. Check those rules locally before you count on short-term rental income.
Local banks, credit unions, private lenders and national online DSCR lenders all finance rentals in South Carolina. Here is how they generally line up against LendingStreet on the things that matter for a rate-and-term refinance.
Local relationships have real value, and short-term lenders are good at speed. When the goal is a South Carolina loan that qualifies on rent and lends to your LLC for 30 years, LendingStreet is built for that job.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualifying basis | DSCR on rent, 1.0x standard | Debt-to-income and tax returns, often | Value and project plan |
| Maximum LTV, rate-and-term | Up to 80% on some programs | Varies by bank | Not a long-term product |
| Long-term option | Yes, 30-year terms | Sometimes, often with a balloon | No; refinance needed later |
| Entity borrowers | LLCs are standard | Varies | Common |
| Minimum loan | $150,000, no stated maximum | Varies | Varies |
| Multi-state portfolios | All 50 states and DC | Usually one region | Usually one region |
| Rental tax at the 6% assessment ratio | Built into the DSCR from the start | Varies | Not relevant to a short-term loan |
The 6% versus 4% assessment ratio means a rental typically pays a meaningfully higher property tax bill than the same house would as an owner's primary home. If you bought from an owner-occupant, expect the bill to reset, and budget for it in the ratio.
Real estate closings in South Carolina are typically handled by an attorney. Coastal counties can need wind and flood coverage, which can make insurance the deciding line on the DSCR. Confirm tax and insurance figures with the county and your agent.
This example is illustrative and not a quote. An investor owns a Columbia single-family rental worth about $235,000, financed with a hard money loan used for the purchase and rehab. The payoff is $172,000 and estimated closing costs are $5,500, so the new loan is $177,500, about 76% LTV, within the 80% rate-and-term limit on some programs.
Rent is $1,875 a month. Taxes are budgeted at the investor assessment ratio, not the seller's owner-occupied bill. Estimated principal and interest on a 30-year term is about $1,196, taxes are $210 and insurance is $120, for a total monthly payment of about $1,526. DSCR is about 1.23x, above the 1.0x standard minimum, and the short-term loan is replaced with a 30-year term.
Your numbers will differ. Try our DSCR calculator, then get a quote with the form below for real terms.
| Item | Amount |
|---|---|
| Property value | $235,000 |
| Existing loan payoff | $172,000 |
| Estimated closing costs | $5,500 |
| New loan amount | $177,500 |
| Loan-to-value | About 76% |
| Monthly rent | $1,875 |
| Estimated principal and interest | $1,196 |
| Property taxes | $210 |
| Insurance | $120 |
| Total monthly payment | $1,526 |
| DSCR | About 1.23x |
Seasoning is how long you have owned the property, or how long the current loan has been in place, before a refinance. Requirements vary by program, and a rate-and-term refinance that simply pays off existing debt is often more flexible than a cash-out.
Expect an appraisal with a rent schedule. Have your leases, rent deposits, payoff letter and insurance quote ready. If the South Carolina ratio comes in below 1.0x, a sub-1.0 DSCR program or a slightly lower loan amount can still work.
Before you choose, ask every lender the same questions. Here is the list, and how LendingStreet answers each one.
Start with three numbers: the payoff on your current loan, the monthly rent and the current tax and insurance bills. With those, we can tell you quickly whether a rate-and-term refinance covers the payoff, or whether a cash-out refinance, up to 75% LTV, makes more sense.
LendingStreet makes business-purpose loans on non-owner-occupied rentals with 1 to 8 units; 9+ unit buildings go through our commercial program. Get a quote with the form below or call (877) 298-1001.
LendingStreet is our top pick. Investors choose us because we size the loan on rent, offer up to 80% LTV on some rate-and-term programs, provide 30-year terms and lend to LLCs. Start with the form below.
Yes, LendingStreet lends in South Carolina and nationwide, in all 50 states and DC.
You still have options. Sub-1.0 DSCR programs exist, or a slightly lower loan amount can bring the ratio above 1.0x.
Yes. A maturing bank balloon is a common reason to use a rate-and-term DSCR refinance, and you avoid re-qualifying on personal income.
Up to 80% LTV on some programs, varying by program, property type and loan size. Max LTV can be lower on 5-8 unit buildings and larger balances. Loans start at $150,000 with no stated maximum.
Often, yes. After the rehab and lease-up, a rate-and-term DSCR refinance replaces the short-term loan with a 30-year term sized on the rent.
South Carolina assesses a qualifying primary residence at 4% and most other property, including rentals, at 6%. When an investor buys, the lower ratio usually goes away. We underwrite on the investor bill.
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