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Hard money loans in Goose Creek, SC
Financing for long-term rentals and new homes near Joint Base Charleston’s Naval Weapons Station.
The Goose Creek market for investors
Goose Creek, in Berkeley County north of North Charleston, is home to part of Joint Base Charleston and close to the manufacturers along the I-26 and Highway 52 corridors. Military households and workers who move often keep demand for rentals steady.
Prices are lower than in Charleston and Mount Pleasant, and there is room for new construction, so investors hold single-family rentals and build new homes to rent or sell.
Areas investors ask about
- Established neighborhoods near the city center: ranches and two-story homes for long-term rentals
- Newer subdivisions: build-to-rent and recent construction
- Near the Naval Weapons Station: rentals that draw military households
Plan for these on a Goose Creek deal
- Military tenants often lease for the length of an assignment. Furnished mid-term rentals can also work near the base.
- Association rules in newer subdivisions can restrict rentals. Read them before you buy.
- Rentals are taxed at South Carolina’s 6% assessment ratio, not the 4% rate for an owner’s primary residence. Use the rental figure when you calculate the DSCR.
Loans available in Goose Creek
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of long-term rentals, mid-term rentals, condos and permitted vacation rentals | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home or rental from the ground up, with the lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Goose Creek hard money loans: common questions
Yes. We lend up to 85% loan-to-value on a rental purchase, qualified on the lease or on market rent, and furnished mid-term rentals on their rental history.
Yes. Ground-up construction loans cover up to 85% of cost, and up to 90% for experienced builders, with the lot included.
Rental and DSCR loans take about 30 days, appraisal included. Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready.
Looking at a property in Goose Creek?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.