In Horry County, a $1M+ residential bridge loan usually finances one of two things: a group of homes bought together, or a high-value beach property bought fast. Both need a clear plan for what happens when the bridge comes due.
In short: LendingStreet provides residential investor bridge loans from $1M to $5M+ in the Myrtle Beach area, within a program range of $150,000 to $5M+, with rates from 7.99% and closings in as little as 10 days. Loans are short-term and interest-only, and larger balances usually need a full valuation and are reviewed case by case. Typical exits are a sale or a refinance into a DSCR, blanket or jumbo DSCR loan.
Median home prices along most of the Strand are well below $1M, so balances of this size usually come from packages: several new or nearly new homes in Carolina Forest, Longs or Little River bought from a builder or a selling investor, or a group of duplexes and small buildings bought together.
The other common case is a single high-value property. Oceanfront and second-row homes in North Myrtle Beach, larger houses in Pawleys Island and Litchfield, and big beach houses in Garden City and Surfside Beach can run well above $1M, and sellers often favor buyers who can close quickly.
| Deal type | Where it shows up | Usual exit |
|---|---|---|
| Package of 5+ homes | Carolina Forest, Longs, Little River, Conway | Blanket DSCR refinance or sale of some homes |
| Oceanfront or second-row home | North Myrtle Beach, Surfside Beach, Garden City | Jumbo DSCR on rent or projected STR revenue, or sale |
| Larger beach home | Pawleys Island, Litchfield | Sale or DSCR refinance |
| Group of duplexes or 5-8 unit buildings | Myrtle Beach, Conway, Socastee | DSCR or blanket refinance |
| Payoff of a maturing loan | Anywhere in Horry or Georgetown County | Refinance after lease-up or sale |
Speed is the first reason. Builders closing out a phase, estates selling beach houses and investors exiting a portfolio often accept the buyer who can close in days rather than weeks. A bridge loan can close in as little as 10 days when the file is complete.
The second reason is timing. New homes that are not yet leased, or beach houses with no booking history, may not qualify for a DSCR loan on day one. A bridge loan carries the property while you lease it up, then a long-term loan takes it out.
This example is illustrative and not a quote. An investor agrees to buy 6 new homes in Carolina Forest at $315,000 each, or $1,890,000 in total, on a short close. The bridge loan at 75% of the purchase price is $1,417,500, and the estimated interest-only payment is about $12,403 a month while the homes are leased.
After the homes are leased at about $2,100 each, they appraise at a combined $2,010,000. A blanket DSCR refinance at 70% of value is $1,407,000, with estimated principal and interest of about $9,838. Taxes total $1,140, insurance $1,110 and HOA dues $360, for a monthly payment of about $12,448.
Total rent of $12,600 against that payment gives a portfolio DSCR of about 1.01x, which clears 1.0x and pays off the bridge loan.
| Item | Bridge stage | Blanket DSCR exit |
|---|---|---|
| Value basis | $1,890,000 purchase | $2,010,000 appraised |
| Loan amount | $1,417,500 | $1,407,000 |
| Monthly payment basis | Interest-only | Principal and interest plus taxes, insurance, HOA |
| Estimated monthly payment | $12,403 | $12,448 |
| Monthly rent | Leasing up | $12,600 |
| DSCR | Not used | About 1.01x |
Larger balances usually need a full valuation. For a package, that means each home is valued, and the lender may also look at the group as a whole. For an oceanfront house, the appraiser will look for comparable beachfront sales, which can be thin in a given year.
Have the builder contract, the plat or lot list and any recent comparable sales ready. A clear valuation picture is often what sets the closing date.
Wind and flood insurance on beachfront property can be a large monthly figure, and it lands in the DSCR math at refinance. Get quotes before you sign, including the wind deductible and any flood zone requirements.
South Carolina assesses rentals at a 6% assessment ratio, and a new home may only carry a land value on its first tax bill. Budget taxes on the finished value so the refinance math is not a surprise.
If the plan is a nightly rental, confirm the zoning, license and HOA rules first. The City of Myrtle Beach limits short-term rentals to certain districts, while North Myrtle Beach and parts of the county are more open.
Some investors use a large bridge loan to retire another loan that is coming due, such as a construction loan on a finished spec house or a short-term note on a group of homes that are not fully leased yet. The new bridge buys time to finish leasing or to sell some homes at a better price.
We will want the payoff letter, the current status of each property and the plan and timeline for the exit.
Not every package is meant to be held in full. Some investors buy a group of homes at a builder's bulk price, sell a few at retail to repay part of the bridge loan, and refinance the rest into long-term DSCR financing. Ask up front how partial releases work on the bridge loan, since each home sold will need to pay down a set amount before it comes off the lien.
This approach works best when the retail market for that subdivision is active and the homes are finished. In slower months, plan for a longer hold and make sure the interest-only payment fits your reserves.
Send these with your request.
Our investor loans are business-purpose loans on non-owner-occupied property. Use the form below or call (877) 298-1001 with the deal summary. We will review leverage, the exit and the timeline. For statewide deals, see our South Carolina large bridge page, and for a long-term takeout on a high-value home, see jumbo DSCR loans in Myrtle Beach.
The program runs from $150,000 to $5M+, and balances above $1M are reviewed case by case.
Rates start from 7.99%, and pricing on large balances depends on leverage, the property and the exit.
Larger balances usually need a full valuation. For a package, each property is typically valued.
Yes. A package purchase is a common use of a large bridge loan, with a blanket DSCR refinance or sales as the exit.
As little as 10 days with a complete file, though valuation of several properties can take longer.
Yes, if the rent or eligible projected revenue supports the payment and the program's leverage limits.
Yes. Bridge loans are short-term and interest-only.
No. This program covers 1 to 8 unit residential property. Larger buildings fall under commercial financing.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.