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DSCR Loans in South Carolina

Qualify on the rent, not your tax returns.

In South Carolina, a DSCR loan finances a rental on the strength of its rent instead of your tax returns. HUD puts the 2 bedroom Fair Market Rent for the Charleston metro at $1,884 a month (HUD User). Pillar Mortgage Group (NMLS 2700076) arranges DSCR loans in South Carolina up to $5 million.

Run my South Carolina dealCheck your DSCR

Facts checked November 1, 2026. Not a commitment to lend.

Facts checked November 1, 2026

South Carolina at a glance for DSCR investors

Every value links to its primary source. Details for each follow further down the page.

South Carolina factValueSource
Security instrumentMortgagescstatehouse.gov
ForeclosureJudicialscstatehouse.gov
Transfer and recording taxesDeed recording fee of $1.85 per $500 of value: $1.30 state plus $0.55 countyS.C. Code §§ 12-24-10, 12-24-90
Security depositNo capS.C. Code § 27-40-410
Notice for unpaid rent5 days after rent is due, with written notice of nonpayment and intent to terminate unless the lease contains the statutory notice languageS.C. Code § 27-40-710(B)
Rent controlCounties and municipalities may not enact, maintain or enforce rent control on private residential or commercial rental property (agreements with private parties excepted)S.C. Code § 27-39-60
LLC formation fee$110S.C. Code § 33-44-1204(a)(1)
Median listing price$359,945 in September 2026 ($368,450 in September 2025)Realtor.com via FRED
HUD 2 bedroom Fair Market Rent$1,884, The Charleston metroHUD User
The definition

DSCR loans in South Carolina, explained

The ratio is rent over the full payment, PITIA. At the HUD 2 bedroom Fair Market Rent for the Charleston metro of $1,884, a 1.00 ratio supports PITIA up to $1,884 and a 0.50 ratio up to $3,768.

Full walk through: how DSCR is calculated.

Where PMG is different

Why South Carolina investors use PMG

What PMG can place for a South Carolina rental, in short.

  • First time buyers: allowed, no VOR
  • Cash out: no seasoning
  • Reserves: none under $1M, 75% LTV
  • Assets: no sourcing
  • Gift funds: 100%
  • ADUs: multiple
  • Foreign nationals: 70% / 60% LTV
  • DSCR: from 0.50
  • Interest only: 70% / 65% LTV

Loan amount

Up to $5M

Credit

660 and up

Down

20 to 25%

Vesting

LLC ok

Guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend. Compare with typical DSCR programs.

South Carolina rental market

South Carolina rental market snapshot

Rent is the number that qualifies a DSCR loan, so start with what South Carolina rentals actually command.

HUD Fair Market Rent, 2 bedroom

$1,884

The Charleston metro (FY2027)

HUD User

HUD Fair Market Rent, 2 bedroom

$1,507

The Greenville metro (FY2027)

HUD User

Median listing price

$359,945

September 2026, down 2.3% from $368,450 in September 2025

Realtor.com via FRED

Quick math (computed from the figures above): Using the South Carolina median listing price, $359,945, a 25% down payment is $89,986 and the loan is $269,959. A year of rent at the Fair Market Rent for the Charleston metro ($1,884) is $22,608, or 6.3% of that price. A year of rent at the Fair Market Rent for the Greenville metro ($1,507) is $18,084, or 5.0% of that price.

Fair Market Rent is a HUD benchmark, not an appraisal.

Calculator

Check your South Carolina DSCR in seconds

The rent field starts at the HUD 2 bedroom Fair Market Rent for the Charleston metro. HUD also lists the Charleston metro at $1,884 and the Greenville metro at $1,507. Swap in your lease or appraisal rent, then add your quoted rate. For a price reference, the median South Carolina listing was $359,945 in September 2026.

South Carolina DSCR Calculator

See how a rental's income stacks up against its full monthly payment. Your numbers stay in your browser.

Income
Example: HUD 2 bedroom Fair Market Rent for the Charleston metro. Replace it with your rent.
Loan
Expenses
Leave blank if there is no HOA.

Your DSCR results

Enter rent, price and your quoted rate to see your DSCR.

Formula used

Loan amount (L) = Price × (100 minus Down %) ÷ 100

P&I (30 year fixed) = L × r × (1 + r)^360 ÷ ((1 + r)^360 minus 1), where r = annual rate ÷ 100 ÷ 12

P&I (40 year interest only) = L × r

PITIA = P&I + Tax ÷ 12 + Insurance ÷ 12 + HOA

DSCR = Monthly rent ÷ PITIA

Rent needed for a target DSCR = Target × PITIA

Talk through your numbers with us

Estimates only. Not a loan offer. Rates and terms vary by lender, property and borrower. Company NMLS #2700076. Example values are illustrations, not a quote.

The math

DSCR worked examples for South Carolina

Hypothetical PITIA of $1,775 (P&I $1,400, taxes $250, insurance $125), real South Carolina rents. Not a quote or a rate.

The Charleston metro

HUD FY2027 2 bedroom Fair Market Rent (source)
$1,884
Hypothetical PITIA
$1,775

1.06DSCR

$1,884 / $1,775 = 1.06: covers the full payment.

The Greenville metro

HUD FY2027 2 bedroom Fair Market Rent (source)
$1,507
Hypothetical PITIA
$1,775

0.85DSCR

$1,507 / $1,775 = 0.85: fits programs down to 0.50.

Talk to us

Have a South Carolina rental in mind? Run it with us.

Share the deal and we will run the ratio, compare lenders and lay out your options in plain numbers.

Investors from any state can buy in South Carolina.

See If My South Carolina Deal Qualifies

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Your information is never sold or shared. By submitting you authorize Pillar Mortgage Group LLC to contact you by phone, text, or email. Equal Housing Lender.

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Top markets

Top South Carolina rental markets for DSCR

Where South Carolina investors are buying, and the local rules that apply to rentals there.

Charleston

$1,884

HUD 2 bedroom Fair Market Rent, the Charleston metro (HUD)

Greenville

$1,507

HUD 2 bedroom Fair Market Rent, the Greenville metro (HUD)

Landlord and tenant law

South Carolina landlord tenant rules investors should know

A DSCR loan underwrites the rent, so the rules that govern collecting it matter. Here is what South Carolina law says, with the statute for each.

TopicThe ruleCitation
Security depositNo cap. Itemized return within 30 days after termination, delivery of possession and the tenant's demand, whichever is later. Wrongful withholding exposes the landlord to 3 times the amount plus attorney fees.S.C. Code § 27-40-410
Pay or quit5 days after rent is due, with written notice of nonpayment and intent to terminate unless the lease contains the statutory notice language.S.C. Code § 27-40-710(B)
Month to month notice30 days written noticeS.C. Code § 27-40-770(b)
Rent controlCounties and municipalities may not enact, maintain or enforce rent control on private residential or commercial rental property (agreements with private parties excepted).S.C. Code § 27-39-60

Not legal advice.

Property taxes

How South Carolina taxes rental property

Every dollar of tax raises the payment the rent has to cover. Here is how South Carolina assesses and taxes property.

  • Assessment: An owner occupied legal residence is assessed at 4 percent of fair market value. Other residential property, including rentals, is assessed at 6 percent. A home loses the 4 percent rate if it is rented more than 72 days in a calendar year, so investors should underwrite at the 6 percent ratio. S.C. Code § 12-43-220(c), (e) (scstatehouse.gov)
Closing and foreclosure

South Carolina closing and foreclosure basics for investors

Who closes your loan, which security instrument you sign and what the state charges to record it.

  • Security instrument: Mortgage (scstatehouse.gov)
  • Foreclosure: Judicial. A mortgage sale passes no valid title unless the debt is first established by judgment of a court (or the debtor consents in writing after maturity). The court orders the sale, conducted by a master or officer and confirmed by the circuit court. (scstatehouse.gov)
  • Attorney required: Yes. The SC Supreme Court holds that real estate and mortgage loan closings must be conducted under the supervision of a licensed attorney, and title searches and recording instructions likewise require attorney supervision. (sccourts.org)
  • Transfer taxes: Deed recording fee of $1.85 per $500 of value: $1.30 state plus $0.55 county. S.C. Code §§ 12-24-10, 12-24-90 (scstatehouse.gov)
LLC and vesting

South Carolina LLC costs and vesting

What it costs to form and keep an LLC in good standing with the South Carolina Secretary of State.

Local angle

What makes South Carolina different for rental investors

  • South Carolina's markets lean on different engines: Charleston on its port, tourism and Joint Base Charleston, Greenville on Upstate manufacturing, Columbia on state government, the University of South Carolina and Fort Jackson, and Myrtle Beach on vacation rentals. The key investor number is the property tax ratio: rentals are assessed at 6 percent of value versus 4 percent for an owner's legal residence, which raises the tax line in DSCR underwriting. (scstatehouse.gov)
Before you offer

South Carolina investor checklist

Run through these South Carolina rules before you write an offer on a rental.

Step by step

How a South Carolina DSCR loan closes with PMG

  1. Send the South Carolina deal
  2. We run the DSCR
  3. We shop lenders
  4. Appraisal confirms rent
  5. Close in your name or LLC

Documents: contract, lease or rent schedule, bank statements, LLC papers, insurance quote. No tax returns. Details.

35 states and counting

DSCR loans across the country

South Carolina is highlighted. We also lend DSCR in North Carolina, Georgia and Tennessee next door, and in 30 more states. Tap a gold state to open its guide.

DSCR loans in AlabamaDSCR loans in AlaskaDSCR loans in ArizonaDSCR loans in ArkansasDSCR loans in ColoradoDSCR loans in ConnecticutDSCR loans in DelawareDSCR loans in GeorgiaDSCR loans in HawaiiDSCR loans in IndianaDSCR loans in IowaDSCR loans in KansasDSCR loans in KentuckyDSCR loans in LouisianaDSCR loans in MaineDSCR loans in MarylandDSCR loans in MassachusettsDSCR loans in MichiganDSCR loans in MississippiDSCR loans in MissouriDSCR loans in MontanaDSCR loans in New HampshireDSCR loans in New MexicoDSCR loans in North CarolinaDSCR loans in OhioDSCR loans in OklahomaDSCR loans in PennsylvaniaDSCR loans in Rhode IslandDSCR loans in South Carolina (this page)DSCR loans in TennesseeDSCR loans in TexasDSCR loans in WashingtonDSCR loans in West VirginiaDSCR loans in WisconsinDSCR loans in Wyoming
South CarolinaWe lend DSCR hereAsk us

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Map geometry: US Census Bureau cartographic boundary files.

FAQ

South Carolina DSCR loan questions

Straight answers for investors buying or refinancing rentals in South Carolina.

PMG guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend.

Book a free call

Does Pillar Mortgage Group offer DSCR loans in South Carolina?

Yes. Purchases, rate and term and cash out refinances on South Carolina rentals, up to $5 million, in your name or an LLC. That includes Charleston, Greenville, Columbia and Myrtle Beach.

Which rent counts on a South Carolina DSCR loan?

The lease or the appraiser's market rent. As a benchmark, HUD puts the 2 bedroom Fair Market Rent for the Charleston metro at $1,884 a month.

Is there a security deposit limit for South Carolina landlords?

No cap. Itemized return within 30 days after termination, delivery of possession and the tenant's demand, whichever is later. Wrongful withholding exposes the landlord to 3 times the amount plus attorney fees. (S.C. Code § 27-40-410)

How much notice does a South Carolina landlord give for unpaid rent?

5 days after rent is due, with written notice of nonpayment and intent to terminate unless the lease contains the statutory notice language. (S.C. Code § 27-40-710(B))

How much notice ends a month to month lease in South Carolina?

5 days after rent is due, with written notice of nonpayment and intent to terminate unless the lease contains the statutory notice language. (S.C. Code § 27-40-710(B))

How does South Carolina assess property tax on a rental?

An owner occupied legal residence is assessed at 4 percent of fair market value. Other residential property, including rentals, is assessed at 6 percent. A home loses the 4 percent rate if it is rented more than 72 days in a calendar year, so investors should underwrite at the 6 percent ratio. (S.C. Code § 12-43-220(c), (e))

Who runs the closing in South Carolina?

Yes. The SC Supreme Court holds that real estate and mortgage loan closings must be conducted under the supervision of a licensed attorney, and title searches and recording instructions likewise require attorney supervision.

Is there rent control in South Carolina?

Counties and municipalities may not enact, maintain or enforce rent control on private residential or commercial rental property (agreements with private parties excepted). (S.C. Code § 27-39-60)

What security instrument does South Carolina use?

South Carolina closes on a mortgage. Foreclosure: Judicial. A mortgage sale passes no valid title unless the debt is first established by judgment of a court (or the debtor consents in writing after maturity). The court orders the sale, conducted by a master or officer and confirmed by the circuit court.

What does South Carolina charge to record a sale?

Deed recording fee of $1.85 per $500 of value: $1.30 state plus $0.55 county. (S.C. Code §§ 12-24-10, 12-24-90)
Nearby states

DSCR loans in nearby states

Investing across state lines? We lend DSCR in these neighbors of South Carolina too.

Sources and review dates

Primary sources, each with the date checked. PMG program facts come from Pillar Mortgage Group.

  1. HUD FY2027 FMR Charleston: https://www.huduser.gov/datasets/fmr/fmr2027/summary?counties=4501999999&reporttype=county&states=45&year=2027&sa_override=1 (checked 2026-11-01)
  2. scstatehouse.gov: https://www.scstatehouse.gov/code/t29c003.php
  3. SC Code Title 12 Ch 24: https://www.scstatehouse.gov/code/t12c024.php (checked 2026-11-01)
  4. SC Code Title 27 Ch 40: https://www.scstatehouse.gov/code/t27c040.php (checked 2026-11-01)
  5. SC Code Title 27 Ch 39: https://www.scstatehouse.gov/code/t27c039.php (checked 2026-11-01)
  6. SC Code Title 33 Ch 44: https://www.scstatehouse.gov/code/t33c044.php (checked 2026-11-01)
  7. FRED MEDLISPRISC: https://fred.stlouisfed.org/series/MEDLISPRISC (checked 2026-11-01)
  8. HUD FY2027 FMR Greenville: https://www.huduser.gov/datasets/fmr/fmr2027/summary?counties=4504599999&reporttype=county&states=45&year=2027&sa_override=1 (checked 2026-11-01)
  9. SC Code Title 12 Ch 43: https://www.scstatehouse.gov/code/t12c043.php (checked 2026-11-01)
  10. sccourts.org: https://sccourts.org/opinions/htmlfiles/sc/25508.htm
South Carolina investors

Let the rent do the qualifying.

Send the South Carolina property and rent. We run the ratio and lay out terms before you offer.

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Run My South Carolina DSCR Numbers

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Your information is never sold or shared. By submitting you authorize Pillar Mortgage Group LLC to contact you by phone, text, or email. Equal Housing Lender.

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We will reach out shortly to run your numbers.

Pillar Mortgage Group, LLC is an Equal Housing Lender, doing business in accordance with the Fair Housing Act and Equal Credit Opportunity Act. Not a commitment to lend.
Company NMLS# 2700076  |  Arizona License MB-2009671  |  View NMLS Consumer Access