South Carolina's Grand Strand and Lowcountry islands are some of the busiest vacation rental coastlines in the Southeast. But a rental there is taxed differently from a primary home, and Charleston and Myrtle Beach both limit where investor-owned STRs can operate.
In short: LendingStreet is our top pick for South Carolina short-term rental investors. On some programs we qualify on projected short-term revenue, which matters for a Myrtle Beach condo or island house that earns far more by the night than by the year. We need no W-2s or tax returns, LLC borrowers are standard and 30-year terms are available. Purchases go up to 80% LTV, and cash-out refinances up to 75%. Get a quote with the form below.
LendingStreet is our top pick for South Carolina short-term rental investors because the loan is built around how a vacation rental actually earns money. On some programs we qualify the property on its projected short-term rental revenue instead of a long-term lease, with no W-2s or tax returns, and LLC borrowers are standard.
It fits investors buying oceanfront condos on the Grand Strand, island homes in the Lowcountry and lake or mountain rentals upstate, plus owners refinancing an STR that already books well. It is not for a home you live in: every loan is business-purpose financing on non-owner-occupied property.
The next step is simple: get a quote with the form below, or call (877) 298-1001 to talk through a property.
Investors searching for short-term rental lenders often compare national names like CoreVest, Dominion Financial, Lima One and Visio Lending. 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 |
|---|---|---|
| A single short-term rental | LendingStreet | We finance individual 1-8 unit short-term rentals. CoreVest states its short-term rental loans are for 5+ STR properties under one loan. |
| Short-term rental with credit in the 620s | LendingStreet | Our DSCR minimum is 620. Visio Lending's STR guide states a 680 minimum, and Lima One states 700 for its STR loans. |
| Short-term rental loan above $2.5M | LendingStreet | Our DSCR loans have no stated maximum. Lima One states STR loans up to $2.5M. |
| 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. |
The Grand Strand, from North Myrtle Beach through Myrtle Beach to Surfside, Garden City and Pawleys Island, is condo and beach-house country, with a deep supply of oceanfront towers built for rental use. Around Charleston, Folly Beach, Isle of Palms, Sullivan's Island, Kiawah and Seabrook draw families and longer stays, and Edisto Beach offers a quieter market.
Farther south, Hilton Head Island and the other Beaufort County islands are established resort markets with villas, golf communities and long family stays. Upstate, Greenville's downtown and Lake Keowee and Lake Hartwell add a mix of event, business and lake travel.
| Market | Typical property | What to check first |
|---|---|---|
| Myrtle Beach and the Grand Strand | Oceanfront condos and beach houses | Zoning for STR use, HOA rules, wind coverage |
| City of Charleston | Homes and units near downtown | Residential-zone STRs generally require owner occupancy |
| Charleston-area beach towns | Beach houses | Town license or permit, flood zone |
| Beaufort County islands | Villas and homes | Town STR permit, HOA or regime rules |
| Upstate lakes and Greenville | Lake homes and city units | County or city rules |
The City of Charleston allows short-term rentals in most residential zones only when the home is the operator's primary residence, with separate rules for certain commercial districts and the historic districts. Since LendingStreet does not finance a home you live in, investor deals in the city usually need a property in a zone where a non-owner STR is allowed. Check with the city zoning office first.
Myrtle Beach restricts short-term rentals in many single-family neighborhoods and allows them in resort and oceanfront zones, which is why so much of the market is condos. Beach towns such as Folly Beach and Isle of Palms, and the resort islands near Beaufort, run their own license or permit programs. Rules change, so confirm them for the exact address.
Here is how LendingStreet compares with the types of lenders South Carolina investors usually call. Each type has its place; this is about which one fits a long-term hold on a nightly rental.
On the South Carolina coast, an oceanfront condo can carry a loan on nightly revenue that a long-term lease would never support. That is why the first row matters most here.
| What STR investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Can short-term revenue qualify the loan? | Yes, projected STR revenue on some programs | Often wants rental history on tax returns | Usually based on property value, not income |
| Income documents | No W-2s or tax returns | Usually tax returns and W-2s | Varies |
| Borrow in an LLC | Standard | Varies; often personal name | Common |
| Loan term | 30-year terms available | Varies; may be shorter or adjustable | Usually short-term only |
| Purchase leverage | Up to 80% LTV | Varies | Varies |
| Cash-out refinance | Up to 75% LTV | Varies | Rarely a long-term option |
| Where they lend | All 50 states and DC | Usually a local footprint | Often regional |
This example is illustrative and not a quote. An investor buys a two-bedroom oceanfront condo in a rental-friendly Myrtle Beach tower for $425,000 with 20% down. Taxes are budgeted at $310 a month using the 6% assessment ratio that applies to rentals. The condo policy is $160 a month, and HOA dues, which cover the building's master insurance, are $575.
At 80% LTV the loan is $340,000, and the investor brings $85,000 plus closing costs. Estimated principal and interest on a 30-year term is about $2,377. Adding taxes of $310, insurance of $160 and HOA dues of $575, the total payment is about $3,422 a month. Projected short-term revenue of $50,400 a year, or $4,200 a month, puts DSCR at about 1.23x.
If the same home were leased long-term at $2,300 a month, DSCR would be about 0.67x, below the 1.0x standard minimum. Condo HOA dues on the coast often rise with master insurance costs, so ask for the current budget and any planned assessments. Programs differ in how they treat projected revenue.
| Item | Monthly figure |
|---|---|
| Purchase price | $425,000 |
| Loan amount (80% LTV) | $340,000 |
| Estimated principal and interest (30-year) | $2,377 |
| Property taxes | $310 |
| Insurance | $160 |
| HOA dues | $575 |
| Total monthly payment | $3,422 |
| Projected short-term revenue per month | $4,200 |
| DSCR on projected short-term revenue | About 1.23x |
| DSCR on a long-term lease of $2,300 | About 0.67x |
South Carolina assesses an owner's legal residence at 4% of value, while rentals and second homes are assessed at 6%. On the same home, that means a noticeably higher tax bill for an investor than for the seller who lived there. Budget on the 6% assessment ratio and the local millage, not the seller's bill.
Short stays are subject to state sales tax and a state accommodations tax, plus local accommodations and hospitality taxes in many places. On the coast, wind and flood coverage are major costs, and condo buyers should review the HOA's master policy and deductible.
Whoever you talk to, ask the same questions so you can compare answers side by side. Then see how LendingStreet answers each one.
For a South Carolina STR, send the zoning or permit status, the HOA budget for condos, an insurance quote and a revenue projection or booking history. We will run the ratio on the 6% assessment figure and return options.
Send the address, price, projected revenue and any booking history. Get a quote with the form below, or call (877) 298-1001.
Our top pick is LendingStreet. We qualify on projected short-term revenue on some programs, need no W-2s or tax returns, lend to LLCs as standard and offer 30-year terms.
Yes. LendingStreet finances short-term rentals across South Carolina, including the Grand Strand, the Charleston-area beaches, the Beaufort County islands and the Upstate, and in every other state and DC.
On some programs, yes. The ratio can be built from projected short-term rental revenue instead of a long-term lease. The standard minimum DSCR is 1.0x, and sub-1.0 programs exist. If the projection comes in low, a long-term rent figure or a larger down payment can still make the numbers work.
No. These are business-purpose loans on non-owner-occupied investment property. We do not finance a home you live in or use as a personal residence.
A legal residence is assessed at 4% of value, while rentals and second homes are assessed at 6%. The seller's bill likely reflects the lower ratio.
Only in limited areas. Most residential zones require the STR to be the operator's primary residence, which does not fit an investment loan. Check zoning for the exact address.
Many are, if the building allows short-term rentals and the HOA is financially sound. Lenders review the condo project, so have the budget and master policy ready.
State sales tax and a state accommodations tax, plus local accommodations and hospitality taxes in many towns. Confirm what the booking platform collects and what you remit.
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