South Carolina DSCR Loans
EasyRent is our tailored and industry-leading DSCR Loan solution for South Carolina real estate investors. Whether you are acquiring property to expand your portfolio or cashing out your capital in a refinance, we have a loan for you. Our DSCR Lending Program has solutions for anyone – from first-time investors to industry veterans looking to rapidly scale their portfolios. We are confident we can find you a great South Carolina DSCR loan in a quick, efficient and easy process. Click the button below and get started today!
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What is a DSCR Loan?
A DSCR Loan is a mortgage loan for a residential income-producing property. It is primarily based on the “Debt Service Coverage Ratio” or the cash flow of the property, rather than the borrower’s income. A traditional mortgage loan will require income verification, tax returns and a “Debt-to-Income” (DTI) ratio. DSCR Loans require none of these! Perfect for real estate investors ready to scale (no more W2!) or are looking leave behind the hassle, paperwork and headaches of conventional financing, DSCR Loans are quickly becoming the go-to loan option for real estate investors.
For a comprehensive definition, “DSCR Loans are mortgage loans secured by residential real estate turnkey properties strictly used for a business purpose and underwritten primarily based on the property.”
DSCR Loan Definition Breakdown
- Mortgage Loans = form of loan that is secured by collateral, collateral = real estate
- Residential Real Estate = properties used for people to live in vs. commercial, which is used to operate businesses (offices, retail, industrial, hotel, self-storage, etc.). In real estate finance, residential also typically refers to “1-4 unit” properties, anything more would be considered “multifamily”
- Business Purpose = DSCR loans strictly do not allow the owner of the property to live in the property, it must be used for “business” or investment purposes. Includes use of “cash-out proceeds”
- Underwritten = How lender evaluates (and then prices) the risk of the loan
- Primarily Based on Property = Mostly based on property, but also look at sponsor
- Turnkey = property doesn’t require any renovation, “turn the key and go”
Looking to get a deeper understanding of all things DSCR? Check out our DSCR Loans Guide below!
South Carolina Recent DSCR Fundings
Real Investments. Real Results.
Real estate investors in The Palmetto State are turning to DSCR Loans as a strategic tool to expand and manage their investment property portfolios. DSCR loans allow investors to secure financing based on the property's ability to generate income (rather than an investor's individual credit profile). In a market like South Carolina, where real estate prices have shown steady growth and rental demand remains steady, DSCR loans offer investors a flexible and effective means to acquire new properties, improve existing ones, or refinance their assets. Easy Street Capital is proud to be a leading provider of DSCR loans for South Carolina real estate investors looking to build rental portfolios! Check out our most recently funded DSCR loans in South Carolina below:
Single-Family Residence
North Myrtle Beach, SC
$1,120,000 South Carolina DSCR Rental Loan for an Acquisition of a rental property in North Myrtle Beach. This luxurious home offers a private heated pool with a spillover spa, elevator access to all floors, and stunning ocean views just a block from the Atlantic. Ideally located near North Myrtle Beach’s top attractions, it is set to operate as a short-term rental, making it a perfect vacation property.
PUD
North Myrtle Beach, SC
$350,880 South Carolina DSCR Rental Loan for an Acquisition of a rental property in North Myrtle Beach. This property is situated in a suburban neighborhood a block away from the beach and north of Main Street, a mile-long road dotted with bars, shopping, and restaurants. Upon acquisition, the residence will be utilized as a short-term rental.
Single-Family Residence
Johns Island, SC
$279,700 South Carolina DSCR Rental Loan for a Cash-Out Refinance in Johns Island. This ranch-style short-term rental is situated on the fourth-largest island on the US east coast, Johns Island. Its natural beauty, abundance of wildlife, and welcoming lifestyle make it a great place to stay.
Single-Family Residence
Edisto Island, SC
$476,000 South Carolina DSCR Rental Loan for an Acquisition of a rental property in Edisto Island. This classic-style beach bungalow is located just steps away from the beach, providing the perfect getaway for a peaceful vacation. Upon acquisition, the property will be utilized as a short-term rental.
Single-Family Residence
North Augusta, SC
$140,000 South Carolina DSCR Rental Loan for a Rate-Term Refinance of a rental property in North Augusta. This property features improvements including new windows, new flooring, updated bathrooms, plumbing, and electrical work. The residence is located five miles from the Savannah River, offering walking trails, gardens, and scenic parks.
Single-Family Residence
Folly Beach, SC
$1,332,500 South Carolina DSCR Rental Loan for a Cash-Out Refinance of a rental property in Folly Beach. With mediterranean fixtures such as terracotta tile, European oak hardwood flooring, and open-concept living, the property perfectly blends the indoor and outdoor spaces with two large decks that lead down to the large yard which features a heated pool and outdoor dining areas.
Condo
Murrells Inlet, SC
$175,000 South Carolina DSCR Rental Loan for an Acquisition of a rental property in Murrells Inlet. This property features a full kitchen, dining, and living room area perfectly suitable for individuals or couples as well as an outdoor porch offers breathtaking ocean views of the Atlantic.
Multifamily
Greenville, SC
$648,300 South Carolina DSCR Rental Loan for a Rate-Term Refinance of a rental property in Greenville. Greenville is the perfect area to enjoy the outdoors as it is nestled within the Appalachian Mountains with several parks, river walks, and a large music scene. Greenville has increased substantially in popularity for young professionals and families due to its small city vibe but expansive professional opportunities.
Single-Family Residence
Waterloo, SC
$400,763 South Carolina DSCR Rental Loan for a Cash-Out Refinance of a rental property in Waterloo. Sitting right up against the Saluda River and in close proximity to Lake Greenwood, it offers direct water access for swimming, fishing, and boating with its own private boat dock. Waterloo, South Carolina is a popular destination for the aforementioned activities thanks to its beautiful weather in the spring, summer, and fall, and its abundance of outdoor activities.
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