South Carolina Investment Property Loans

Purchasing or refinancing investment properties in South Carolina?

We specialize in acquiring short-term and long-term loans for South Carolina real estate investors. Our private money lenders offer competitive rates on these loan options:

Benefits of working with us:

  • Rates start at 6.75%
  • Fast closings
  • No unnecessary paperwork
  • No personal income verification
  • No personal tax returns
  • No lease requirements
  • No hard pull on credit score

Types of Investment Property Loans in South Carolina

Here are the different types of investment property loan programs we work with.

Rental Property Loans

  • Minimum loan amount: $75k
  • Maximum loan amount: $2m
  • Purchase/refinance LTV: Max 80%
  • Cash out refinance LTV: Max 75%
  • Terms: 5/1 ARM, 7/1 ARM, 30-year fixed rates & interest only
  • Property types: single family home, condo, 2-4 unit

Vacation Rental Loans

  • Minimum loan amount: $75k
  • 1.5+ DSCR
  • LTV: Maximum 75%
  • Terms: 5/1 ARM, 7/1 ARM, 30-year fixed rates & interest only
  • Short-term vacation rentals
  • Listed on AirBNB, VRBO, etc
  • DSCR rental loans

Fix and Flip Loans

  • Minimum loan amount: $75k
  • Maximum loan amount: $1.5m
  • ARV: Max 75%
  • LTV: Max 90%
  • Terms: 12, 18 and 24 month interest only payments
  • Property types: single family home, condo, 2-4 unit

Short-Term Bridge Loans

  • Minimum loan amount: $75k
  • Maximum loan amount: $1.5m
  • Purpose: Acquisition
  • LTV: Max 75%
  • Loan types: 12, 18 and 24 month interest only payments
  • Property types: single family home, condo, 2-4 unit

South Carolina Loan Requirements

Every South Carolina hard money lender has a different loan process and minimum loan requirements.

Minimum Credit Score: 660

The minimum credit score for a hard money loan is 660. A private money lender will start by running a soft pull on your credit report. Since higher credit scores signal financial stability, these usually come with lower interest rates.

Min. Loan Amount: $75k

The minimum investment property loan amount is $75,000.

Minimum Documentation

  • South Carolina Driver’s License
  • South Carolina Identification Card
  • South Carolina Articles of Incorporation
  • South Carolina Articles of Organization (LLC)
  • LLC Operating Agreement
  • EIN Number or Letter
  • South Carolina Certificate of Existence

Ability to Pay Monthly Payment

Conventional loan lenders compare your personal income to your monthly loan payment, primary residence mortgage and more. Private lenders look at the property appraised value, potential monthly cash flow, fair market rent, etc.

Ability to Repay the Loan

This will depend on the type of loan, current interest rates, down payment size and other factors. Traditional banks look at 2 years of personal tax returns, employment history, cash reserves and your credit report. Hard money lenders will look at acquisition purchase price, after-repair value, construction costs, potential monthly rental income, South Carolina rental market trends, etc.

Larger Down Payment

Real estate investment loans generally require a larger down payment. Expect a 10-35% down payment.

SC Investment Property Loan Programs

We work closely with private lenders who offer hard money loans in South Carolina specifically for real estate investing purposes:

  • Purchase loan options
  • Refinance options
  • Cash out financing
  • Fix and flip loans
  • ARM rental property financing
  • 30-year rental property loans
  • Multi-family loans

Is a rental property a good investment in South Carolina?

South Carolina is a landlord-friendly state with a simple eviction process, no annual rent increase limitations and a net positive population growth. The Palmetto State is home to popular universities, cities near mountains and beach towns.

There is endless short term rental opportunities near vacation hotspots and long term rentals for retirees. The South Carolina unemployment rate of as March 2023, is 3.2%.

South Carolina Rental Market Cities

South Carolina has a very low unemployment rate and is abundant with natural tourism spots. It has become one of the swiftest growing states in the United States. Furthermore, the state’s flourishing economy has resulted in a significant need for housing. Making it a prime location for real estate investors.

  1. Charleston
  2. Greenville
  3. Columbia
  4. Myrtle Beach
  5. Hilton Head Island

Is South Carolina a good state for landlords?

The state of South Carolina does not have annual rent increase laws and has landlord-friendly eviction laws.

Does rent go up every year in South Carolina?

As of April 26, 2023, here are the average rent prices and annual rent increases for different types of investment properties in Charleston, South Carolina:

  • Studio $1,772 (+13%)
  • 1 Bedroom $1,664 (+5%)
  • 2 Bedroom $1,340 (-2%)

Is South Carolina a good place to flip houses?

The average home in South Carolina grew by 9% year-over-year according to Zillow. Outpacing many states with higher costs of living. As long as the trend continues, SC will benefit from net migrations.

Best South Carolina cities for fix and flips:

Here are the best cities in South Carolina for house flipping.

  1. Columbia
  2. Charleston
  3. Mount Pleasant
  4. Rock Hill
  5. Summerville

Curlee Capital LLC

Curlee Capital LLC specializes in South Carolina investment property loans. We’re part of the Real Estate Council in Austin (RECA), Austin Chamber of Commerce and many other real estate associations across the United States. We proudly maintain an A+ rating on Better Business Bureau.

We work with dozens of private lenders and have access to all types of loan programs. Every lender has a different risk tolerance and approves different borrowers. Our expertise is in matching a borrower to a lender who will approve a loan with the best loan terms and interest rates for that specific scenario.

Apply for a SC Investment Property Loan

Contact us to purchase or refinance an investment property in South Carolina.

Contact us to get:

  • Free consultation
  • Hard money lender expertise
  • Less than 1 hour response time
  • Up to 80% LTV

Email:

john@curleecapital.com

Phone:

(512) 399-4476

Text:

Click here to text us