Hard Money Loans in South Carolina: what to know
- Hard Money Loans are business-purpose loans, so you do not need to live in South Carolina to finance property here. We arrange them for South Carolina properties through our national lender network.
Who it is for
- Auction, foreclosure and off-market deals that need to close in days
- Properties too distressed for conventional or DSCR
- Borrowers with recent credit events
Typical Hard Money Loans requirements in South Carolina
| Max LTV | Typically 60–75% of as-is value |
|---|---|
| Terms | 6–24 months |
| Rates and points | Roughly 10–14% plus 2–4 points |
| Credit | Flexible; the property drives approval |
| Closing speed | Sometimes under 10 days |
Figures are typical market ranges as of October 2026. Actual terms depend on the lender, your credit, the property and the program, and are confirmed on your Loan Estimate or term sheet.
How it works
- Submit the property and deal.
- Lender values the asset, often with a quick appraisal or BPO.
- Close, execute, then sell or refinance out.
Try the Fix and Flip Profit Calculator
Pros and cons
Advantages
- Fastest closings
- Tolerates condition and credit issues
Trade-offs
- Highest cost
- Low leverage
- Short terms
Documents you’ll need
- Contract
- Proof of funds for down payment
- Entity documents
Hard Money Loans FAQ
Can I get a Hard Money Loan in South Carolina?
Yes. Hard Money Loans are available for South Carolina investment properties where state law permits, through our national lender network.
Do I need to live in South Carolina?
No. Investment-property loans are based on the property and the deal, so out-of-state investors can finance South Carolina rentals and flips.
Do hard money loans check credit?
Most pull credit but weigh it lightly; the property’s value and your equity matter more.
How fast can hard money close?
Sometimes in under 10 days. Private lenders move quickly because they underwrite the asset, not your tax returns.
What do hard money loans cost?
Expect 10 to 14% interest plus 2 to 4 points at closing. It is the most expensive common option, which is why borrowers use it for weeks or months, not years.
How much can I borrow with hard money?
Usually 60 to 75% of the as-is value. The lender wants a big equity cushion since the property is the main security.
How long are hard money loan terms?
Typically 6 to 24 months. These are not meant to be held long term.
What properties work for hard money?
Distressed properties, auctions, foreclosures and anything too rough for a bank appraisal. If a conventional lender would decline the condition, hard money may still work.
Can I refinance out of hard money?
Yes, and you should plan the exit before you borrow. Common exits are a sale, a DSCR refinance for rentals, or a refinance after rehab is complete.
Do hard money lenders require an appraisal?
Many use a broker price opinion or their own valuation instead of a full appraisal, which is part of why they close so fast.
Is hard money the same as a bridge loan?
They overlap a lot. Hard money describes private, asset-based lending. Bridge describes the short-term purpose. Many loans are both at once.
How Hard Money Loans compare
| Hard Money Loans | Bridge Loans | Fix and Flip Loans | |
|---|---|---|---|
| Best for | Auction, foreclosure and off-market deals that need to close in days | Buying before a sale or 1031 closes | Buying distressed or dated properties to renovate and sell |
| Down payment | , | , | , |
| Credit | Flexible; the property drives approval | , | Typically 620–680 |
| Income docs | , | , | , |
Typical ranges, your Loan Estimate or term sheet confirms actual terms.
Coming soon: a 2-minute walkthrough from our loan team.
Related programs
Bridge Loans
A bridge loan is short-term (usually 6–24 months) investor financing secured by real estate that “bridges” you from a purchase to a sale or long-term refinance.
Fix and Flip Loans
A fix and flip loan is short-term (usually 12–18 months), interest-only financing that covers most of a distressed property’s purchase price and up to 100% of renovation costs, repaid when you sell or refinance.