South Carolina portfolios often run along the I-85 and I-26 corridors: single-family rentals in Greenville-Spartanburg, Columbia and the Charlotte suburbs around Rock Hill, plus coastal property near Charleston and Myrtle Beach. Five or more can share one blanket loan.
In short: LendingStreet can put five or more South Carolina rentals, each with 1 to 8 units, under one blanket DSCR loan that qualifies on total portfolio rent, with release provisions when you sell. South Carolina taxes rental property on a 6% assessment ratio compared with 4% for a primary residence, so rental tax bills run noticeably higher than a neighbor's.
A blanket loan is a single DSCR mortgage secured by a group of rentals, at least five properties with 1 to 8 units each. You close once, make one payment and deal with one servicer, and the pricing reflects the portfolio as a whole.
Qualification runs on the debt service coverage ratio for the entire group: combined rent divided by the combined monthly payment, which includes taxes, insurance and any association dues. Standard programs look for 1.0x or better, and sub-1.0 programs exist for some files. LLC borrowers are standard and loans start at $150,000. Max LTV varies by program.
Greenville and Spartanburg have grown quickly around manufacturing and logistics employers along I-85, with newer subdivisions in Simpsonville, Greer and Boiling Springs and older homes closer in. Columbia, with the University of South Carolina and Fort Jackson, offers lower prices and steady renters, and Rock Hill, Fort Mill and Indian Land draw Charlotte commuters.
Charleston, Summerville and Goose Creek have a higher-priced market near Joint Base Charleston, and Myrtle Beach and the Grand Strand lean toward vacation rentals. Investors who also own in Charlotte can ask about programs that cover both Carolinas in one loan.
This example is illustrative and not a quote. An investor owns three Greenville-area rentals, two in Columbia and one in Rock Hill. Together the six properties are worth about $1,575,000, rent for $11,300 a month and carry about $1,860 a month in taxes and insurance.
At 70% of combined value, the blanket loan is about $1,102,000. Estimated principal and interest on a 30-year schedule is about $7,705 a month, so the total monthly obligation is about $9,565 and the portfolio DSCR is about 1.18x, above the 1.0x standard minimum. On its own, the Simpsonville SFR would carry an allocated balance of about $202,908 and a ratio of about 1.14x; inside the blanket, the stronger properties help carry it. The tax figures here reflect the 6% rental assessment ratio, not the 4% owner-occupied treatment.
| Property | Value | Monthly rent | Taxes + insurance / mo |
|---|---|---|---|
| Simpsonville SFR | $290,000 | $2,000 | $330 |
| Greer SFR | $275,000 | $1,950 | $320 |
| Greenville SFR | $250,000 | $1,850 | $300 |
| Columbia SFR near USC | $220,000 | $1,650 | $280 |
| Columbia SFR, Northeast | $240,000 | $1,750 | $290 |
| Rock Hill SFR | $300,000 | $2,100 | $340 |
| Portfolio total | $1,575,000 | $11,300 | $1,860 |
South Carolina assesses a primary residence at a 4% assessment ratio and rental property at a 6% assessment ratio, so taxes on a rental are roughly half again as much as on the same home owner-occupied. A property you used to live in may also lose the 4% treatment once it becomes a rental. Counties reassess every five years, with limits on how much a reassessment can raise value. Use current bills that reflect the rental classification.
South Carolina charges a deed recording fee on transfers, which applies to purchases and some LLC transfers. Coastal properties carry wind and hurricane exposure, and some are insured through the state's wind and hail association. Flood zones matter in the Lowcountry. Inland Upstate properties usually carry lower premiums.
Blanket loans include release provisions so you can sell or refinance one property without paying off the whole loan. Each property carries an allocated share of the balance, and the release price, set in your loan documents, is usually more than that share so the remaining loan stays well secured.
Before you sell, run the numbers on the properties that stay. Removing a strong performer can pull the remaining portfolio's ratio down, and release terms are written to protect the coverage on what is left. Our guide to the blanket loan release clause walks through how this is typically structured.
South Carolina's Residential Landlord and Tenant Act sets deposit, notice and eviction rules, and there is no rent control. Leases and rent rolls are the core of a blanket loan file.
Charleston limits short-term rentals through permits and zoning, with tighter rules on non-owner-occupied units in many neighborhoods. Myrtle Beach and other beach towns allow them in specific zones. Check the city or county before counting nightly income on any property.
One blanket loan makes the most sense for a stable group of rentals you intend to keep, especially when a few of them would struggle to qualify alone. The combined coverage test, single closing and one servicer are the main advantages.
Individual DSCR loans can be better for properties you expect to sell soon, a property that needs its own cash-out, or a portfolio so spread out that one appraisal process would be slow. A split approach is common, and nothing stops you from keeping both kinds of loans.
Have these ready when you request a quote. To price a South Carolina portfolio, use the form below or call (877) 298-1001.
Yes. LendingStreet finances blanket portfolio loans on non-owner-occupied investment property in South Carolina, from $150,000 with no stated maximum. Our investor loans are business-purpose loans on non-owner-occupied property.
Rentals are assessed at a 6% assessment ratio instead of the 4% used for primary residences. Use bills that reflect rental status.
Only with the right permit. Charleston restricts non-owner-occupied short-term rentals in many neighborhoods.
At least five investment properties, each with 1 to 8 units. There is no stated maximum on the number of properties or the loan amount.
Standard programs look for a combined ratio of 1.0x, meaning total rent covers the total payment. Some programs allow lower ratios with adjusted terms.
No. Blanket loans qualify on the portfolio's rent. You need a 620 or higher credit score, reserves and entity documents if the properties are in an LLC.
On some programs, yes. Multi-state portfolios can go under one loan, though each property is appraised and recorded where it sits.
Some programs allow multi-state portfolios, which suits Charlotte-area investors with properties on both sides of the line.
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