DSCR Loans

DSCR Loans Myrtle Beach: Qualify With Rental Income (No Tax Returns)

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DSCR Loans in Myrtle Beach, SC: Qualify with Rental Income Only (No Tax Returns)

Myrtle Beach, South Carolina is one of the top vacation rental and real estate investment markets in the United States, known for strong tourism, high rental demand, and consistent short-term rental income.

From oceanfront condos to single-family vacation rentals, investors in Myrtle Beach need financing built specifically for income-producing properties—not traditional income-based underwriting.

At Lendmire, we offer DSCR loans in Myrtle Beach that allow real estate investors to qualify using the property’s rental income instead of personal tax returns, W-2s, or debt-to-income ratios.

Whether you’re purchasing a vacation rental, refinancing to pull cash out, or scaling a portfolio, DSCR loans provide a flexible, investor-focused solution.

What Is a DSCR Loan?

A DSCR loan (Debt Service Coverage Ratio loan) is an investment property loan that qualifies based primarily on the income generated by the property.

Instead of using personal income, the lender evaluates whether the property produces enough rental income to cover the monthly mortgage payment.

DSCR loans are ideal for:

  • Real estate investors
  • Airbnb and short-term rental owners
  • Out-of-state investors
  • Self-employed borrowers
  • Investors scaling multiple properties

How DSCR Is Calculated

DSCR measures the relationship between rental income and the monthly housing expense:

DSCR = Gross Rental Income ÷ Monthly Mortgage Payment (PITIA)

PITIA includes:

  • Principal
  • Interest
  • Taxes
  • Insurance
  • HOA dues (very common in Myrtle Beach condos)

A DSCR of 1.00 means the property breaks even. Some programs allow DSCR below 1.00 depending on the scenario.

Why Investors Love Myrtle Beach for DSCR Loans

Myrtle Beach is one of the most investor-friendly markets in the Southeast due to:

  • High tourism and year-round visitor traffic
  • Strong short-term rental demand
  • Lower purchase prices compared to other coastal markets
  • High cash-flow potential

DSCR loans are especially powerful here because they allow investors to qualify based on rental income—not personal income.

Investors use DSCR loans in Myrtle Beach to:

  • Purchase vacation rentals
  • Finance oceanfront condos
  • Scale Airbnb portfolios
  • Refinance and pull out equity
  • Invest remotely without complex income documentation

DSCR Loan Highlights

  • No personal income verification required
  • Qualify using rental income
  • Loan amounts up to $6,000,000
  • Up to 80% LTV for purchases
  • Up to 75% LTV for cash-out refinance
  • Interest-only options available
  • Airbnb and short-term rentals allowed
  • Condo-friendly programs available
  • LLC/entity vesting allowed
  • Closings in as little as 14–20 days

Myrtle Beach DSCR Loan Requirements

Most DSCR loan programs in Myrtle Beach include:

  • Minimum credit score starting around 620
  • Loan amounts from $100,000 to $6,000,000
  • Up to 80% LTV for purchases
  • Up to 70–75% LTV for cash-out refinance
  • DSCR as low as 0.75–0.80 in some cases
  • 3–12 months reserves

Requirements vary based on condo vs single-family, rental income, and borrower profile.

DSCR Loan Rates in Myrtle Beach

DSCR loan rates depend on:

  • Credit score
  • Loan-to-value (LTV)
  • DSCR ratio
  • Property type (condos vs homes)
  • Short-term rental income

Because DSCR loans do not require income verification, rates may be slightly higher than conventional loans—but allow significantly easier qualification for investors.

Myrtle Beach Airbnb and Vacation Rental DSCR Loans

Myrtle Beach is one of the strongest short-term rental markets on the East Coast.

Many investors use DSCR loans to qualify based on:

  • Projected Airbnb income
  • Market rental data
  • Vacation rental performance

This makes DSCR loans ideal for investors targeting:

  • Oceanfront condos
  • Beach homes
  • High-occupancy vacation rentals

Best Areas in Myrtle Beach for DSCR Loans

Oceanfront Myrtle Beach

High-demand vacation rental properties with strong seasonal income.

North Myrtle Beach

Popular area with strong rental performance and investor activity.

Surfside Beach

More relaxed market with steady rental demand.

Garden City

Strong vacation rental market with slightly lower entry prices.

Murrells Inlet

Growing area with strong rental demand and local appeal.

Cash-Out Refinance DSCR Loans in Myrtle Beach

Investors frequently use DSCR loans to unlock equity and reinvest.

Common uses:

  • Buying additional vacation rentals
  • Renovating properties to increase income
  • Improving cash flow
  • Scaling rental portfolios

Up to 75% LTV is typically available.

No-Ratio DSCR Loan Options

Some DSCR programs allow investors to qualify without meeting a minimum DSCR requirement.

These are useful when:

  • Rental income is seasonal
  • Property was recently purchased or renovated
  • Airbnb income is still ramping up

Interest-Only DSCR Loans

Interest-only options are popular among Myrtle Beach investors looking to maximize cash flow.

Typical features:

  • 10-year interest-only period
  • 30-year or 40-year loan structures
  • Lower initial monthly payments

Property Types Eligible

Eligible property types include:

  • Single-family homes
  • Condos (including non-warrantable and condotels in some cases)
  • Townhomes
  • Vacation rentals
  • Short-term rental properties

First-Time Investors Can Qualify

You do not need prior experience to use a DSCR loan.

Some programs allow first-time investors with:

  • Strong credit
  • Adequate reserves
  • Solid rental income potential

Why Choose Lendmire for DSCR Loans in Myrtle Beach

Lendmire is a mortgage broker, meaning we shop multiple lenders to find the best DSCR loan for your scenario.

This gives you access to:

  • Airbnb-friendly DSCR programs
  • Condo and condotel options
  • No-ratio DSCR loans
  • Interest-only structures
  • Cash-out refinance solutions
  • Flexible underwriting
  • Fast closings

We structure the loan around your investment strategy—not a one-size-fits-all guideline.

Why DSCR Loans Work So Well in Myrtle Beach

DSCR loans are especially powerful in Myrtle Beach because:

  • Vacation rental income can significantly outperform long-term rent
  • Investors can scale quickly in a high-demand tourist market
  • Many buyers are out-of-state investors
  • Traditional income often doesn’t reflect investor cash flow

DSCR loans allow investors to focus on cash flow and ROI—not income limitations.

Get Your Myrtle Beach DSCR Loan Options

If you are buying or refinancing an investment property in Myrtle Beach, Lendmire can help you compare DSCR loan options from top lenders.

Whether you’re purchasing an oceanfront condo, financing a vacation rental, or scaling a portfolio, we’ll help you structure the right loan.

Start your Myrtle Beach DSCR loan quote today.

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