SC · Charleston
Bridge, Flip & Construction
Loans in Charleston, SC
Bridge, fix & flip, construction, renovation and DSCR loans for residential investment property in Charleston, $1M to $5M, term sheet in 24 to 48 hours. For US investors and foreign nationals on the same terms.
Passy Capital finances Charleston investors who buy, renovate and build residential investment property: bridge loans, fix & flip loans, and ground-up construction for spec homes, townhomes and build-to-rent, then renovation loans and DSCR loans as the long-term hold. Loans run from $1M to $5M, with a term sheet in 24 to 48 hours and closing in about two weeks on a clean file.
Charleston deals split between the peninsula and the rest of the region. On the peninsula, older houses and small multi-unit buildings are renovated under historic-district review. In North Charleston, West Ashley, James Island, Summerville and the towns up I-26, builders put up spec homes, townhomes and build-to-rent communities. Throughout the region, flood zone and windstorm coverage are part of the underwriting from the first conversation, because they shape both the budget and the rental income.
We lend the same way to a Charleston operator and to an investor based outside the United States. A non-US investor borrows through a US LLC on the same terms, with no US credit history required. All loans are business-purpose and for non-owner-occupied property.
Charleston Market Highlights
Investor property tax ratio
South Carolina assesses an owner's legal residence at 4% of value and other residential property, including rentals and investment houses, at 6%. Underwrite a Charleston hold or DSCR exit on the 6% ratio.
Judicial foreclosure
South Carolina foreclosures go through the courts, usually before a master-in-equity. Enforcement takes longer than in power-of-sale states, which is one reason lenders look closely at leverage and exit on South Carolina loans.
Attorney-supervised closings
The South Carolina Supreme Court requires real estate and loan closings to be conducted under the supervision of a licensed attorney. Choose the closing attorney early; it sets the pace of the closing.
Deed recording fee
South Carolina charges a deed recording fee of $1.85 per $500 of value ($1.30 state and $0.55 county) when a deed is recorded.
Historic district review
In the City of Charleston's historic districts, exterior work visible from a public way, including new construction, alterations and renovation, needs Board of Architectural Review approval before it starts. Build that into the renovation schedule and budget.
Flood and wind coverage
Much of the Charleston region is low-lying and on the hurricane coast. Flood zone, elevation and windstorm insurance cost are checked on every deal, since they affect the build budget, the rent and the DSCR.
Key Submarkets
Charleston Peninsula
North Charleston
Park Circle
West Ashley
James Island
Johns Island
Mount Pleasant
Daniel Island
Summerville
Goose Creek
Ladson
Moncks Corner
Property Types We Finance
Single-Family
2-4 Units
Condo / Townhome
Small Multifamily (5-9 Units)
Build-to-Rent
SFR Portfolios
Loan Programs
Bridge Loans
Buy, refinance or cash out an investment property, closing in about two weeks.
Construction
Ground-up spec homes and build-to-rent, with draws tied to milestones.
Renovation / Rehab
Rehab financing on 1-4 unit and small multifamily, drawn against completed work.
Fix & Flip
Purchase and rehab in one loan for 1-4 unit flips, closing in about two weeks.
DSCR / Rental
Long-term rental financing based on property cash flow.
Investing in Charleston from outside the US
If you are buying in Charleston from outside the United States, financing is usually where the process stalls: no Social Security number, no US credit history, and no retail bank willing to underwrite a foreigner. We lend to your US LLC instead, underwrite the property rather than a US profile you have no way to build, and charge no foreign-national premium for it.
Frequently asked questions
What do you finance in Charleston?
Bridge loans to acquire, fix & flip and renovation loans for the purchase and the work, and ground-up construction for spec homes, townhomes and build-to-rent, then DSCR loans as the long-term hold. Property types are single-family, 2-4 units, condos and townhomes, small multifamily up to 9 units, build-to-rent and SFR portfolios, from $1M to $5M.
How does flood insurance affect a Charleston loan?
It is part of the underwriting. Property in a flood zone needs flood coverage, and flood and windstorm premiums come out of the rent when a DSCR loan is sized, so get insurance quotes early, before you fix the purchase price or the build budget.
Can a foreign national finance a Charleston investment property?
Yes. The loan is made to a US LLC and underwritten on the property and the plan, not a US credit file, so a non-US investor with no US credit history borrows on the same terms as a US investor. In South Carolina the closing runs under an attorney's supervision, so agree early with the closing attorney how the documents will be signed from abroad.
What does the loan cost upfront?
Nothing. Our fee is 1-2% of the loan, paid at closing, with no upfront fees.
Learn More
Fix and Flip Financing Guide
How purchase-plus-rehab loans are sized, drawn and repaid on a flip.
Construction Loan Draw Schedule
How draws are inspected and released on a spec or build-to-rent project.
Refinancing a Bridge Loan into DSCR
The exit from a renovation or new build into a long-term rental loan.
How to Set Up a US LLC as a Foreign Investor
The entity a non-US investor uses to own and finance Charleston property.
Related US Markets
We finance US and foreign investors in other markets too.
Have a deal in Charleston?
Submit your deal in 2 minutes. We'll review it and get back to you within 24 hours with financing options.
Submit a Deal