Choose a fix and flip loan option that’s right for you.
- Interest Rate: 10.9%-11.4%
- No appraisal
- No prepayment penalty
- Close as fast as 2 days
- Interest Rate: 9.25%-10.9%
- No appraisal
- No prepayment penalty
- Close as fast as 10 days
- Interest Rate: 12.5%-13%
- No appraisal
- Prepayment penalty varies
- Close as fast as 2 days
Fix and Flip Loan Terms
Here are the loan terms for fix and flip loans in South Carolina. Qualify based on the after-repair value, not personal income.
| Loan to purchase | Up to 90% LTC |
| Rehab financing | Up to 100% |
| After-repair value | Up to 75% ARV |
| Loan amount | Minimum $75,000 |
| Interest rate | Start at 9.25% |
| Credit score | Minimum 660 |
| Loan terms | 6, 12, 18 and 24 months |
Speak with a Fix & Flip Loan Advisor
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- Compare loan options
- Get proof of funds today
- See how much you qualify for
South Carolina Fix and Flip Loan Requirements
These are the minimum fix and flip loan requirements for South Carolina investors.
Minimum Credit Score
There is no minimum credit score to get approved for a South Carolina fix and flip loan. However, higher credit scores typically come with the lowest origination fees.
Minimum Loan Amount
The minimum loan amount is $75,000.
Business Entity Required
Since these are business loans, a legally registered business is required to get approved for fix and flip funding. You can file for a new LLC in the state of South Carolina and get approved in 2-5 business days.
Flipping Experience
No previous experience is required to get a loan for flipping houses in South Carolina. However, it will help reduce your financing costs.
Speak with a Fix and Flip Loan Specialist
Is South Carolina good for house flipping?
Down here in South Carolina, fix and flipping houses is one of the best way to get into real estate investing. There are investment opportunities for every type of investor. Coastal gems, historic towns and urban areas.
In 2023, South Carolina was the fastest growing state in the nation. Experiencing 1.7% annual growth year over year, followed by Florida. There’s clearly strong demand for affordable home purchases. According to Fox News, “The Palmetto State” is 11.5% cheaper than the average state in the country.
Best cities to fix and flip in South Carolina
Every fix and flip project is different and has its own obstacles. Consider flipping in these cities that experience higher demand:
Charleston
Average home value: $528,471
Sold over list price: 17.7%
Median days to pending: 21
Columbia
Average home value: $219,969
Sold over list price: 22.7%
Median days to pending: 17
Greenville
Average home value: $294,132
Sold over list price: 21.5%
Median days to pending: 22
Rock Hill
Average home value: $310,371
Sold over list price: N/A
Median days to pending: 17
Mount Pleasant
Average home value: $780,580
Sold over list price: 15.9%
Median days to pending: 10
Data Updated: February 13, 2024