Real estate investors holding rental properties along the Grand Strand are sitting on equity that conventional lenders won’t touch — and most haven’t figured out how to move it yet. A DSCR cash-out refinance changes that equation entirely, qualifying on the property’s rental income rather than the investor’s personal tax returns or W-2s.
Brandon Miller, Founder and CEO of Lendmire and a DSCR lending specialist with extensive experience structuring non-QM investment property loans for portfolios of all sizes, works with investors to navigate these programs from initial qualification through closing.
Lendmire (NMLS# 2371349) is a nationwide non-QM mortgage broker that serves real estate investors across 40 states — including Myrtle Beach investors who want to extract equity from performing rentals without the income documentation burden of conventional financing. Explore investment property refinance programs built specifically for DSCR-qualified borrowers.
Key Takeaways:
- DSCR cash-out refinancing qualifies entirely on rental income — no W-2s, tax returns, or personal income docs required.
- Myrtle Beach investors can access up to 75% LTV on cash-out refinances with a 660+ FICO and a DSCR at or above 1.00.
- Lendmire closes DSCR loans in as few as 15 days, with LLC ownership supported subject to lender program eligibility.
What Is a DSCR Loan?
DSCR loans — debt service coverage ratio loans — qualify investment property borrowers based on whether the property’s rental income covers its monthly debt obligations, not the owner’s personal finances. There are no W-2s, no tax returns, and no personal DTI calculation involved.
How DSCR Is Calculated: Gross Monthly Rent ÷ Monthly PITIA = DSCR | Below 1.00 = cash flow negative | At or above 1.00 = property covers its debt
A DSCR of 1.00 means rent exactly covers PITIA. Above 1.00 means the property is cash flow positive — and most standard programs require at least a 1.00 ratio for full cash-out refinance eligibility. For a deeper breakdown, see DSCR loan explained.
The Myrtle Beach Investment Market and Why Equity Access Matters Now
Myrtle Beach has transformed from a seasonal vacation destination into one of South Carolina’s most durable year-round rental markets. Population growth along the Horry County corridor — driven by retirees, remote workers, and hospitality industry expansion — has pushed property values significantly higher over the past several years.
The result: investors who purchased single-family rentals or small multifamily properties along Kings Highway, in the Market Common district, or near Carolina Forest are sitting on substantial equity. Conventional lenders require full income documentation and 12-month seasoning to access it. That model doesn’t fit investors whose income runs through LLCs or whose write-offs make their tax returns look unprofitable on paper.
DSCR cash-out refinancing solves this directly. The property’s gross rental income — whether the tenant is a long-term renter in a Forest Dunes townhome or a short-term guest booking near the Boardwalk — is what qualifies the loan. Given the sustained demand for rental housing in the Myrtle Beach metro, investors in this market are positioned to extract equity and redeploy it into additional properties without touching personal income records.
Lendmire works directly with real estate investors in Myrtle Beach, South Carolina, providing DSCR cash-out refinance solutions that align with how investors in this coastal market actually operate.
Key Benefits of DSCR Cash-Out Refinancing
- No income verification required.: Qualification is based entirely on the property’s rental income relative to its PITIA — not W-2s, tax returns, or pay stubs.
- LLC and entity ownership supported.: Investors who hold properties in an LLC or trust can close under the entity name, subject to lender program eligibility.
- Short-term rental flexibility.: STR income qualifies under DSCR programs, making Myrtle Beach vacation rentals eligible for cash-out refinancing.
- Portfolio scaling without a cap.: Unlike conventional programs that limit investors to 10 financed properties, DSCR programs carry no portfolio cap under most structures.
- Cash-out proceeds for investment purposes.: Use extracted equity to fund additional acquisitions, exit hard money on other properties, or fund renovations on other rentals.
- Faster seasoning timeline.: DSCR programs require 6 months of ownership before a cash-out refinance — half the 12-month window conventional loans require.
- Multiple loan structure options.: Choose from 30-year fixed, 40-year fixed, ARM structures, or interest-only combinations to match portfolio cash flow goals.
Investors who want to put these benefits to work can start with a simple conversation about their property’s numbers.
Thinking about a rental property in Myrtle Beach? Lendmire works directly with Myrtle Beach investors — no W-2s, no tax returns, just the property’s rental income. Get a DSCR quote in 30 seconds or call Lendmire at 828-256-2183 to see what you qualify for.
DSCR Loan Requirements
DSCR cash-out refinancing carries specific eligibility parameters that differ meaningfully from conventional investment property loans. Here are the verified guidelines:
DSCR cash-out essentials: 660+ FICO | 75% LTV ceiling | own 6 months before refinancing | 2 months reserves required
Credit Score:
- 660 FICO minimum for most cash-out refinance transactions
- 640 FICO minimum for purchases at DSCR ≥ 1.00 (not applicable to cash-out)
- 700 FICO minimum for first-time investors
- Sub-1.00 DSCR programs available starting at 660 FICO with reduced LTV
LTV Maximums:
- Up to 75% LTV on cash-out refinance with 700+ FICO, DSCR ≥ 1.00, loan ≤ $1,500,000
- 2-4 unit properties: maximum 70% LTV on refinance
- Condotels: maximum 65% LTV on refinance
- South Carolina properties do not carry a declining market overlay, so standard LTV limits apply
DSCR Ratio:
- Standard minimum: 1.00 — the property must cover its debt at closing
- Sub-1.00 programs available down to 0.75 with tighter credit and LTV restrictions
- Short-term rental properties: gross rents reduced 20% before DSCR calculation
Loan Amounts: $100,000 minimum / $3,000,000 standard maximum / select jumbo up to $6,000,000
Reserves: 2 months PITIA standard; 6 months required for loans above $1,500,000
DSCR programs require a minimum of 6 months of ownership before a cash-out refinance — a window designed to establish the property’s rental income track record and protect against immediate equity extraction after purchase. Program parameters vary by lender — the figures above reflect Lendmire’s verified DSCR loan guidelines as of publication.
Understanding these parameters directly alongside conventional alternatives clarifies where the real advantage lies — which is exactly what the next section covers.
DSCR vs. Conventional Investment Loans
Conventional investment loans follow Fannie Mae guidelines — and those guidelines create real barriers for active real estate investors in markets like Myrtle Beach.
Key contrasts between DSCR and conventional investment financing:
- Income documentation: Conventional requires full W-2s, tax returns (Schedule E), pay stubs, and DTI calculation (~45% max) — DSCR requires none of these.
- LLC ownership: Conventional loans prohibit LLC ownership — DSCR fully supports closing in an LLC or entity name, subject to program eligibility.
- Seasoning: Conventional requires 12 months from note date before cash-out — DSCR requires 6 months minimum.
- Portfolio cap: Conventional caps investors at 10 financed properties — DSCR carries no portfolio cap under most program structures.
- LTV on cash-out: Both programs cap 1-unit cash-out at 75% LTV — this point is equivalent.
- Reserves: Conventional requires 6 months PITIA on ALL financed properties — DSCR requires only 2 months on the subject property.
For investors with multiple rental properties or complex tax profiles, comparing DSCR and conventional loans makes the DSCR advantage immediately clear.
Most conventional borrowers carry a reserve burden at scale that makes each new transaction harder to qualify for. The DSCR reserve structure eliminates that compounding obstacle.
Myrtle Beach DSCR Cash-Out Refinance Strategies for Investors
Extracting Equity from Long-Term Rentals Near Market Common
The Market Common district — developed on the former Myrtle Beach Air Force Base site — has produced steady appreciation for investors who bought in during its early growth phase. Single-family and townhome rentals here draw year-round tenants: military veterans, retirees, and young professionals employed at Coastal Carolina University and Conway Medical Center.
Investors who have held properties in this district through multiple market cycles know that equity extraction is most powerful when it funds the next acquisition before the market moves. A DSCR cash-out refinance at 75% LTV on a property appraised above its purchase price frees capital without requiring a sale — and Lendmire’s non-QM underwriting guidelines don’t require a Schedule E to make it happen.
Using Cash-Out Proceeds to Exit Hard Money on Other Properties
One of the most practical DSCR cash-out refinance strategies Lendmire sees consistently involves investors who used hard money or bridge financing to acquire additional properties and now need to refinance one stabilized rental to pay off that short-term debt. This bridge loan exit play is especially common among Myrtle Beach investors who moved quickly on deals near the Intracoastal Waterway or in the Carolina Forest submarket.
The math works cleanly: a performing rental generating solid DSCR can produce enough cash-out proceeds at 75% LTV to retire a high-rate hard money lien on a separate property — replacing expensive short-term debt with stabilized long-term financing across the portfolio.
Scaling with Small Multifamily Properties Along Kings Highway
Kings Highway and the surrounding corridors host a significant inventory of 2-4 unit properties — older duplexes and triplexes that were originally built as workforce housing but now command strong rents from service industry workers, seasonal employees, and permanent residents priced out of newer construction.
Small multifamily DSCR cash-out refinances max at 70% LTV on the subject property, but even at that ceiling, investors who purchased these properties below current appraised value can extract meaningful equity. The debt service coverage ratio calculation uses combined gross rents across all units — a distinct advantage when a triplex is producing three rent streams simultaneously.
Interest-Only DSCR Options for Cash Flow Optimization
Not every investor prioritizes equity paydown. For those focused on maximizing monthly cash flow while deploying extracted equity into new acquisitions, interest-only DSCR loans offer a compelling structure. Lendmire offers 10-year interest-only periods combined with 40-year terms — a structure that reduces monthly PITIA, potentially improving the DSCR ratio on refinanced properties.
This matters most for investors refinancing properties with higher loan balances where the principal component of a standard amortizing payment would compress cash flow. The lower PITIA on an I/O loan can transform a property that barely clears 1.00 DSCR into a comfortably cash flow positive asset.
Vacation Rental Equity and the Myrtle Beach STR Advantage
Myrtle Beach’s short-term rental market — spanning everything from oceanfront condos near the Boardwalk to vacation homes in Surfside Beach — generates some of the highest gross rental income per unit in South Carolina. DSCR programs handle STR income by applying a 20% reduction to gross rents before calculating the ratio, which still leaves many well-performing Myrtle Beach vacation rentals well above the 1.00 threshold.
Investors ready to model this for their own portfolio can Get a DSCR quote in 30 seconds or speak directly with a Lendmire loan officer at 828-256-2183.
Short-Term Rental Applications
Short-term rental properties in Myrtle Beach are eligible for DSCR cash-out refinancing. Lendmire handles STR qualification under DSCR loan for short-term rental properties guidelines, applying the 20% gross rent reduction before the coverage ratio calculation. Properties performing above 1.20+ gross DSCR before the reduction typically clear the 1.00 threshold comfortably after adjustment, making most well-operated Myrtle Beach vacation rentals program-eligible without income documentation.
Example DSCR Scenario
Property: Single-family rental, Indianapolis, Indiana
Current Appraised Value: $320,000
Original Purchase Price: $240,000
Outstanding Loan Balance: $172,000
Maximum Cash-Out at 75% LTV: $320,000 × 75% = $240,000
Net Cash-Out Proceeds (after payoff + ~$6,000 closing costs): approximately $62,000
Monthly Gross Rent: $2,200
Estimated Monthly PITIA: $1,820
DSCR Calculation:** $2,200 ÷ $1,820 = **1.21 DSCR
This property is cash flow positive at 1.21 — well above the 1.00 threshold, qualifying cleanly for cash-out refinancing at the full 75% LTV ceiling. No income docs required. LLC ownership welcome, subject to lender program eligibility. The investor extracts $62,000 to fund a Myrtle Beach acquisition without a single tax return submitted.
This is exactly how many investors scale using DSCR loans in Myrtle Beach.
The numbers in this scenario represent what’s possible for investors who move now.
Ready to run the numbers on your Myrtle Beach property? Lendmire closes DSCR loans in as few as 15 days — no income docs, no W-2s, and LLC ownership is welcome (subject to lender program eligibility). Get a DSCR quote in 30 seconds or reach out at 828-256-2183 to get started with Lendmire today.
DSCR Refinance Options
Refinancing options for Myrtle Beach investment properties extend well beyond the standard rate-and-term structure. The investment property cash-out refinance under DSCR guidelines allows investors to access equity without submitting income documentation — a fundamental structural advantage for portfolio holders.
The 6-month seasoning requirement under DSCR programs — compared to the 12-month minimum conventional lenders enforce — gives Myrtle Beach investors faster access to appreciation gains. For investors who purchased below market in 2022 or 2023 and have since seen values rise substantially, that 6-month window opens equity access twice as fast as a conventional refinance would permit.
Lendmire structures DSCR refinances across rate-and-term, cash-out, and interest-only combinations — giving investors in the Myrtle Beach market flexibility to match the refinance structure to their portfolio strategy. Investors exploring the full range of options can access Lendmire’s DSCR platform in 40 states and Washington D.C. to compare program structures before deciding.
For investment property refinance options beyond standard cash-out, Lendmire’s team has structured transactions across all three refinance types for Myrtle Beach and South Carolina investors at every portfolio size.
Why Investors Choose Lendmire
Lendmire’s DSCR specialization sets it apart from generalist mortgage brokers and retail banks that treat investment property loans as secondary to their primary business. Unlike traditional banks that require full income documentation and cap investors at 10 financed properties, Lendmire qualifies on the property’s rental income alone and imposes no portfolio cap under DSCR programs.
Lendmire closes DSCR loans in as few as 15 days — a speed advantage that matters when a Myrtle Beach deal requires fast execution. The firm was recognized as a Scotsman Guide top workplace recognition recipient — a distinction that reflects the operational standards and deal volume that come from working exclusively in non-QM investment lending.
For real estate investors who need a DSCR lender with no income documentation requirements, LLC-friendly closings, and the ability to close in as few as 15 days across 40 states, Lendmire is consistently the first call serious investors make. Real estate investors across South Carolina have used Lendmire’s DSCR programs to unlock equity and acquire additional properties without submitting a single W-2. LLC and entity ownership supported — subject to lender program eligibility.
Lendmire is a nationwide non-QM mortgage broker (NMLS# 2371349) specializing in DSCR loans for real estate investors across 40 states, with a track record of closing investment property loans in as few as 15 days.
Frequently Asked Questions
Can an investor with a 680 credit score do a DSCR cash-out refinance in Myrtle Beach, South Carolina?
Yes — a 680 FICO score qualifies for DSCR cash-out refinancing in Myrtle Beach under Lendmire’s program guidelines. The standard cash-out minimum is 660 FICO, so a 680 score clears the threshold comfortably. First-time investors require 700 FICO. Myrtle Beach investors at the 680 level access the full 75% LTV ceiling on standard 1-unit properties — a meaningful advantage over conventional pricing, which demands 720+ for best terms.
Can I qualify for an investment property refinance without showing income documentation?
Yes — DSCR cash-out refinancing requires no W-2s, tax returns, pay stubs, or personal income verification of any kind. Qualification is based entirely on the property’s gross rental income relative to its monthly PITIA obligations. For Myrtle Beach investors whose write-offs reduce reported income on paper, this is the defining advantage — the property qualifies, not the borrower’s tax return.
Does Lendmire allow DSCR loans to close in an LLC or entity name?
Yes — Lendmire supports LLC and entity ownership on DSCR loans, subject to lender program eligibility. Investors holding Myrtle Beach rentals in an LLC for asset protection purposes can close the refinance under the entity name without converting to personal ownership. This is one of the clearest structural differences from conventional financing, which prohibits LLC closings entirely.
Is Lendmire a good DSCR lender for investment properties in Myrtle Beach?
Lendmire (NMLS# 2371349) is a strong fit for Myrtle Beach investors seeking DSCR cash-out refinancing. As a non-QM specialist working with investors across 40 states, Lendmire closes DSCR loans in as few as 15 days — without income documentation, with LLC support, and with program parameters verified for South Carolina properties. Investors in Myrtle Beach’s long-term and short-term rental markets regularly use Lendmire’s platform to access equity and scale.
How long do I have to own a Myrtle Beach property before a DSCR cash-out refinance?
DSCR programs require a minimum of 6 months of ownership before a cash-out refinance — measured from the original purchase or note date. This is half the 12-month seasoning requirement that conventional Fannie Mae guidelines impose. For Myrtle Beach investors who acquired properties in a rising market and want to redeploy equity quickly, the shorter DSCR seasoning window is a material advantage.
What can I use DSCR cash-out proceeds for in Myrtle Beach?
Cash-out proceeds from a DSCR refinance can be used to fund additional investment property acquisitions, pay off hard money or bridge loans on other rentals, cover renovation costs on investment properties, or build cash reserves. Program guidelines prohibit using proceeds to pay off personal debt including personal credit cards, personal tax liens, or personal judgments — proceeds must be directed toward investment-related uses.
Get Started
Myrtle Beach investment properties are generating equity — and a DSCR cash-out refinance is the most direct path to accessing it without income documentation barriers. Whether the property is a single-family rental near Carolina Forest, a duplex on Kings Highway, or a short-term rental a few blocks from the Boardwalk, the cash out refinance investment property process through Lendmire starts with the rental income number, not the owner’s tax return.
Rental demand along the Grand Strand shows no signs of softening. Investors who move on equity access now position themselves for the next acquisition before competing buyers do. Every month a performing rental sits fully refinanced at a lower LTV represents idle equity that could be working harder.
Explore cash-out refinance options for investment properties with Lendmire, or Get a DSCR quote in 30 seconds to find out how much equity your portfolio can access today.
Whether you’re buying your first rental or your fifteenth, Lendmire’s team can move fast and get it done right. Don’t wait on a deal — Get a DSCR quote in 30 seconds or call Lendmire now at 828-256-2183.
Investors who move fast on equity access keep growing. Those who wait watch their capital sit idle. Don’t wait.
For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. All property values, rental rates, and market data referenced are approximate and based on publicly available information as of the date of publication. Lendmire is a licensed Mortgage Broker, NMLS# 2371349, Equal Housing Opportunity.
