Longleaf Lending South Carolina DSCR Loans

DSCR Loans in South Carolina:
Modern Financing for Investors

Veteran-owned lender, offering investors DSCR Loans in South Carolina for no-income-verification, hassle-free long-term financing.

Modern, long-term financing solutions

Why Choose Longleaf Lending for Your South Carolina DSCR Loan Needs

Crafted with savvy South Carolina investors in mind, our Long-Term DSCR Loans enable wealth building through a diverse portfolio of rental properties. By prioritizing your investment property's rental income and cash flow metrics, we simplify the loan process. As a top DSCR lender, enjoy competitive interest rates starting at 6.5%.

No Income Verification
Our no-income-verification process eliminates traditional barriers, focusing on your investment's cash flow to qualify you for a loan. This DSCR-centered approach ensures a hassle-free experience, catering specifically to real estate investors' unique needs.
Tailored to Investment Goals
Whether you're investing in short-term vacation rentals or long-term leases, our DSCR loans are crafted to align with your strategic investment plans. This versatility ensures that whatever your goals, our financing solutions fit perfectly.
Efficiency and Speed
At Longleaf Lending, we value your time. Our South Carolina DSCR loan application and approval processes are optimized for efficiency, ensuring quick, smooth progress from your initial application to the final funding.
Adaptive Financing Solutions
Our financing options are as diverse as the properties you invest in. We're committed to offering flexible DSCR solutions that accommodate a wide range of property types and investor profiles.

Fast and simple

How Longleaf Lending's DSCR Loans Work

DSCR (Debt Service Coverage Ratio) loans are a type of financing used by real estate investors that focus on the income generated by the property rather than the personal income of the borrower. Here’s a simplified explanation:

Calculation.
The DSCR is calculated by dividing the property's Net Operating Income (NOI) by its total annual debt payments. NOI reflects the positive cash flow from the property after operating expenses (mortgage payment, taxes, and insurance) are subtracted.
Criteria for approval.
For South Carolina, we typically require a DSCR greater than 1.0, indicating the investment property generates sufficient cash flow to cover its debt obligations. A common threshold is a DSCR of 1.0 to 1.2 or higher, but it is possible to go lower.
No personal income verification.
The approval process emphasizes the property’s cash flow potential, not the borrower's personal financial situation, allowing for more accessible financing for investors.
Craftsman house

DSCR Loan Terms

Get the financing you need to build wealth with real estate in South Carolina using our DSCR long-term 30-year investor loans.

Terms current as of April 25, 2024

Long Term Rental Loan
Loan Value:
$75,000-$2,000,000
LTV:
Up to 80% (as is)
Interest Rate:
Starting at 6.5%
Points:
2-3
Term:
30 years
Closing Time:
As fast as 2 weeks
FICO:
600 minimum

DSCR Loan Requirements Simplified

Understand DSCR Loan South Carolina Requirements

Securing a DSCR Loan in South Carolina involves a focused evaluation of your experience, liquidity, credit score, and investment property's income potential. Here's a summary of the current requirements you should know before applying for a DSCR Loan in South Carolina:

DSCR Calculation:
Minimum of 0.65x
Credit Score:
600 minimum
Loan Amount:
$75,000 to $3 million
Investor Experience:
none required
US Citizenship:
not required
Documentation:
Some of the key required documents include personal ID, bank statements, entity documentation if using a company (operating agreement, EIN letter, articles of incorporation), lease agreement (if currently leased), appraisal (requrested by us), and the purchase HUD (if purchased in the last 12 months).
Occupancy:
Short or long-term rentals, vacant or occupied
Property Type:
SFR, 2-4 units, multifamily 5+ units, mixed use, or commercial
DSCR Loan South Carolina requirements

Designed for South Carolina investors

Build wealth through real estate with our DSCR Loans in South Carolina

South Carolina's Real Estate Potential: Ideal for 30-Year Rental and Long-Term DSCR Loans

South Carolina long term rental property loans

South Carolina's real estate market, with its charming coastal cities, historic towns, and expanding urban centers, presents a dynamic landscape for real estate investors. The state's growing economy, driven by sectors such as manufacturing, tourism, and technology, combined with its appealing lifestyle and mild climate, attracts a steady flow of new residents and tourists. This growth fuels a robust demand for rental properties, making South Carolina an attractive market for Single-Family Residential (SFR) investments. DSCR loans in South Carolina offer a tailored financing solution, enabling investors to capitalize on the diverse opportunities within this vibrant market.

Why DSCR Loans Are Suited for South Carolina's Real Estate Market

DSCR loans align with the needs of the South Carolina real estate market for several compelling reasons:
  • Economic and Population Growth: The state's continuous economic development and population increase ensure a strong demand for rental housing, providing a solid foundation for real estate investments.
  • Tourism and Seasonal Demand: South Carolina's status as a tourist destination, especially in coastal areas like Charleston and Myrtle Beach, creates unique opportunities for short-term and vacation rental investments, supported by DSCR financing.
  • Simplified Financing Approach: By focusing on the rental income potential of properties rather than the personal financial history of investors, DSCR loans simplify the acquisition and refinancing process, enabling quicker and more efficient investment decisions.

Strategic Benefits of SFR Investments in South Carolina

Investing in SFR properties in South Carolina offers strategic advantages, including:
  • Diverse Investment Opportunities: From beachfront homes to urban apartments and rural retreats, South Carolina's varied real estate landscape caters to a wide range of investment strategies.
  • Stable Rental Market: The combination of long-term residents and a steady influx of tourists ensures consistent rental demand, contributing to high occupancy rates and a reliable income stream for investors.

Leveraging South Carolina DSCR Loans for Investment Success

DSCR loans in South Carolina provide investors with the flexibility and financial leverage needed to navigate the state's competitive real estate market:
  • Portfolio Expansion: Investors can use DSCR loans to expand their property portfolios across South Carolina, taking advantage of the state's economic growth and diverse real estate offerings.
  • Rapid Response to Market Opportunities: The streamlined application and approval process for DSCR loans allow investors to act swiftly on investment opportunities, securing financing quickly to capitalize on market trends.
South Carolina's real estate market offers a compelling mix of growth, diversity, and investment potential. DSCR loans provide a strategic financing option for investors looking to explore this dynamic market, offering a practical solution to achieve investment objectives. Whether focusing on the bustling cities, coastal resorts, or serene inland communities, DSCR loans in South Carolina empower investors to build wealth through real estate.

South Carolina DSCR Loan frequently asked questions

How is DSCR Calculated in South Carolina?

How is DSCR calculated in South Carolina?

In South Carolina, the Debt Service Coverage Ration (DSCR) is calculated by dividing a property's rental income by it's expenses. In some cases another method could be used which involves dividing Net Operating Income (NOI) by the Debt Service.

Income: For simplicty purposes, you can think about the top line as the annual rental income for your investment property. In some cases a 90% factor might be applied.

Expenses: There are four main components of the expenses.

  • Principal and Interest
  • Taxes
  • Insurance
  • HOA fees

Here's an example so you can see exactly how DSCR is calculated. To keep things easy, we are assuming there is no principal payment, which you might expect with an interest only period. To learn more about how DSCR loans work, check out our detailed article.

How is DSCR calculated in South Carolina?

About the Longleaf Lending Team

Longleaf Lending is a veteran-owned, direct lending firm with a deep focus on the real estate market. Established in Texas, we bring over two decades of combined experience in real estate, hard money lending, and investment banking.

Funding Experience

Since 2018, we have funded over 600 hard money loans, totaling more than $125 million in loan value.

Expert Leadership

Our leadership includes co-founders Pete Underwood and Matt Weidert, who bring extensive experience from real estate investment, investment banking, and military service.

Commitment to Innovation

We are committed to providing innovative real estate solutions, with a strong focus on integrity and professionalism as a member of the American Association of Private Lenders.

For more about our journey and the dedicated team behind Longleaf Lending, visit our full About Us page.

Submit your South Carolina loan request today

Start your DSCR Loan funding today

Ready to propel your South Carolina rental project forward? Our simple loan request process is designed to get you the funding you need quickly and efficiently.

How the DSCR funding process works with Longleaf Lending

Submit our Online Form

Begin by filling out our short form. It's straightforward and only takes a minute. Provide us with some basic information about you and your project.

Get a Term Sheet in less than 24 Hours

After submitting your form, you'll receive a detailed term sheet from us within 24 hours. This term sheet will outline the terms of your loan and give you the confidence to proceed with your project.

Get Funded

Experience fast and straightforward funding. At Longleaf Lending, you'll work directly with our team throughout the entire process, from application to funding.

Applying does not affect your credit score

Apply for a South Carolina DSCR Loan in 60 Seconds

Begin the funding process by completing our short online form.