Real Estate Investors: How to Get DSCR Loans in South Carolina
Real estate investors in South Carolina are turning to DSCR loans to finance rental properties without the hassle of income docs. If you're wondering how to get DSCR loans in South Carolina, here's everything you need to know.
What Is a DSCR Loan?
A Debt Service Coverage Ratio (DSCR) loan qualifies you based on the rental income from your property. If your rent covers your mortgage, you’re in business—no W-2s, pay stubs, or tax returns needed.
Why South Carolina Is a Hot Spot for DSCR Loans
Affordable investment opportunities in Charleston, Columbia, and Greenville
Steady rental demand from students, military, and retirees
Short-term rental markets thriving in coastal towns
Easier approval process for full-time and part-time investors
DSCR Loan Requirements in South Carolina
DSCR: 1.0–1.25 depending on the lender
Minimum credit score: 620
Down payment: Around 20–25%
Property types: Single-family, duplex, triplex, and fourplex
Loan sizes: $100,000 up to $2 million or more
Where to Invest Using DSCR Loans
Charleston: Popular tourist destination and rental hub
Columbia: Strong long-term rental market
Greenville: Fast-growing with steady tenant demand
Pro Tip for Qualifying
Make sure your rental income is well-documented with leases, rent rolls, or market rent estimates if the property is vacant. Lenders want proof of income more than proof of employment.
