DSCR Loans in Spartanburg County, South Carolina
Reviewed by Dominick Prevete, Founder & CEO, National Loan Provider31+ years in real estate finance
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In 2025 HMDA data, 125 lenders made 595 investment-property loans in Spartanburg County, 6.6% of South Carolina's total. Dominick Prevete arranges DSCR loans across Spartanburg County, South Carolina, qualified on the property's rent, not your tax returns. DSCR rental loans start from 7.25% (November 2026), and most close in 14 days. At HUD's fair market rent, a three-bedroom rental there covers its full payment up to a price of about $230,000.
Spartanburg County investor market at a glance
| Statistic | Spartanburg County | South Carolina | County rank |
|---|---|---|---|
| Investor loans | 595 | 9,079 | 6th of 17 |
| Reporting lenders | 125 | 498 | 6th of 17 |
| Loan volume | $115.6M | $2.59B | 6th of 17 |
| Average loan | $194K | $286K | 14th of 17 |
| Median loan | $175K | $195K | 10th of 17 |
| Purchases | 70.9% | 64.8% | 3rd of 17 |
| Cash-out refinances | 15.0% | 15.8% | 13th of 17 |
| 2–4 unit properties | 12.4% | 8.1% | 4th of 17 |
| Top five lenders' share | 31.4% | 16.9% | 7th of 17 |
| Reported business-purpose | 70.1% | 68.4% | 7th of 17 |
Spartanburg County: closed-end loans on 1–4 unit investment properties. Spartanburg County's rank is highest first, among South Carolina's counties with at least 100 investor loans and 25 reporting lenders. Shares are of Spartanburg County's investor loans.
What stands out in Spartanburg County
70.9% of Spartanburg County's investor loans were purchases, the 3rd-highest share of South Carolina's 17 counties with published data (statewide: 64.8%).
Most investor loans here are purchases. A DSCR purchase qualifies on the property's rent, so you can get written terms before you make an offer with the Instant Term Sheet.
12.4% of Spartanburg County's investor loans financed a 2–4 unit property, the 4th-highest share of South Carolina's 17 counties with published data (statewide: 8.1%).
2–4 unit properties are a larger share here than in most of South Carolina. A DSCR loan on a 2–4 unit property qualifies on the rent from all of its units.
The average investor loan in Spartanburg County was $194K, the 4th-lowest average of South Carolina's 17 counties with published data (statewide: $286K).
Loans here run small. DSCR loans Dominick arranges start at $75,000.
Does a DSCR loan pencil in Spartanburg County?
At HUD's fair market rent of $1,457 for a 3-bedroom in Spartanburg County, South Carolina, a rental covers its full DSCR payment up to a purchase price of about $230,000, with 20% down at the 7.25% starting rate (November 2026). Spartanburg County's median home value is $233,300; at that price the payment is $1,477 a month, so the property would need $1,500 in rent to cover it.
Coverage under 1.00 doesn't end the deal: the DSCR programs Dominick arranges go down to no-ratio, priced for the lower coverage, and a lower price or a larger down payment raises the ratio.
| HUD fair market rent, 2 / 3 / 4 bedroom (FY2027) | $1,196 / $1,457 / $1,722 |
|---|---|
| Median home value (2020–2024 ACS 5-year) | $233,300 |
| Median property taxes and effective rate | $1,274 (0.55% of value) |
| Monthly payment on the median-value home: P&I, taxes, insurance | $1,477 |
| Rent needed to cover that payment | $1,500 |
| Coverage of a 3-bedroom at fair market rent | 0.99 |
| Highest price a 3-bedroom at fair market rent covers | about $230,000 |
| Highest price two 2-bedroom units at fair market rent cover | about $375,000 |
Fair market rent is HUD's 40th-percentile gross rent, including utilities; a property's appraised market rent can be higher or lower. Payment uses 20% down, a 30-year amortization at the published DSCR starting rate, the county's median effective property-tax rate and insurance at 0.50% of value. Purchase leverage goes up to 85% on qualifying files. This is an illustration, not a term sheet or an offer of credit.
Price your actual deal →Run Spartanburg County's numbers in the calculator below →
Who are the DSCR and investment-property lenders in Spartanburg County?
The most active investment-property lenders in Spartanburg County in 2025 HMDA data were Kiavi Funding, Inc.; LENNAR MORTGAGE, LLC; and UNITED SHORE FINANCIAL SERVICES, LLC, out of 125 lenders that reported. HMDA doesn't flag which loans were DSCR loans, so this list mixes DSCR and conventional investment-property lenders. Dominick Prevete places DSCR loans across 100+ lenders, including two that reported in Spartanburg County, and matches each file to the one most likely to fund it.
Spartanburg County's 2025 HMDA filings, closed-end loans on 1–4 unit investment properties only: 595 loans and $115.6M from 125 lenders. Kiavi Funding, Inc. led Spartanburg County with 57 loans, 9.6% of the county's total, and the average Spartanburg County loan of $194K compares with $286K across South Carolina.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| Kiavi Funding, Inc. | 57 | $10.3M | $181K | 86.0% |
| LENNAR MORTGAGE, LLC | 54 | $7.8M | $145K | 100.0% |
| UNITED SHORE FINANCIAL SERVICES, LLC | 29 | $5.3M | $183K | 69.0% |
| THE LOAN STORE, INC. | 24 | $4.3M | $180K | 70.8% |
| Rocket Mortgage, LLC | 23 | $3.5M | $150K | 43.5% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | 22 | $4.1M | $186K | 95.5% |
| ABL RPC Residential Credit Acquisition LLC | 17 | $4.8M | $284K | 11.8% |
| First Piedmont Federal Savings and Loan Association of Gaffney | 14 | $3.1M | $225K | 78.6% |
| HOMEXPRESS MORTGAGE CORP. | 14 | $2.7M | $194K | 35.7% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | 13 | $2.3M | $176K | 100.0% |
| Arthur State Bank | 13 | $2.3M | $173K | 61.5% |
| Hometown Equity Mortgage, LLC | 12 | $2.6M | $214K | 25.0% |
| LIMA ONE CAPITAL, LLC | 11 | $2.0M | $179K | 63.6% |
| Loan Funder LLC | 10 | $2.7M | $272K | 40.0% |
| CHAMPIONS FUNDING, LLC | 9 | $2.1M | $236K | 44.4% |
| AMERICAN HERITAGE LENDING, LLC | 9 | $1.8M | $195K | 44.4% |
| DEEPHAVEN MORTGAGE LLC | 9 | $1.7M | $193K | 55.6% |
| CROSSCOUNTRY MORTGAGE, INC. | 8 | $1.7M | $214K | 75.0% |
| The Park National Bank | 8 | $0.9M | $119K | 100.0% |
| NVR Mortgage Finance, Inc. | 7 | $1.9M | $269K | 100.0% |
| First Heritage Mortgage, LLC | 7 | $1.0M | $142K | 100.0% |
| Loandepot.Com, LLC | 6 | $1.4M | $227K | 100.0% |
| First-Citizens Bank & Trust Company | 6 | $1.1M | $175K | 66.7% |
| RESICENTRAL, LLC | 6 | $1.0M | $163K | 50.0% |
| United Community Bank | 6 | $0.8M | $138K | 33.3% |
251 South Carolina loans (2.8%) carry no county code in HMDA, so county figures sum to less than the state total.
Source for Spartanburg County: 2025 HMDA loan-level data from the CFPB/FFIEC Data Browser, retrieved October 31, 2026. How this data is built · Spartanburg County CSV, all 25 lenders
What Spartanburg County's table can't show you: fit. Short-term financing is exempt from HMDA, so Spartanburg County's fix-and-flip and bridge lenders barely appear among its 125 filers, and none of the 25 names above tells you whose guidelines match your deal, your entity, or your timeline. That's the job. Dominick Prevete structures your file and places it across 100+ lenders — including some on this list — so it lands with the one most likely to fund it.
Price your loan →National Loan Provider is an independent broker and maintains wholesale relationships with some listed lenders. Appearing in this table is not an endorsement or a recommendation.
Run the coverage test on your Spartanburg County, South Carolina deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a Spartanburg County, South Carolina property's rent, loan, taxes and insurance to see where it lands.
Principal and interest on a thirty-year amortization, plus taxes, insurance and HOA.
Enter the rent, loan amount, rate, taxes and insurance to see the coverage ratio.
Sources
- CFPB / FFIEC HMDA Data Browser — Spartanburg County's at-a-glance figures, its observations, its 25-lender table and the Quick Read's 125 lenders and 595 loans: 2025 HMDA loan-level data rolled up to Spartanburg County.
- Spartanburg County investor-lender dataset (CSV) — All 25 lenders in the Spartanburg County, South Carolina table, ranked by loan count, with volume, average loan and purchase share for each.
- HUD FY2027 Fair Market Rents — Spartanburg County's 2-, 3- and 4-bedroom fair market rents in the rent math, and the 3-bedroom rent its highest-price figure uses: HUD's FY2027 figures for the Spartanburg, SC HUD Metro FMR Area.
- Census ACS 2020–2024 5-year, tables B25077 and B25103 — Spartanburg County's median home value (B25077) and median property taxes paid (B25103) in the rent math, from the Census 2020–2024 ACS 5-year summary files.
- DSCR loan rates, Dominick Prevete — DSCR rental loans start from 7.25%, as of November 2026: the Instant Term Sheet's best-case scenario on the current rate sheets.