Non-QM · South Carolina
Bank-statement loans for self-employed South Carolina borrowers.
Qualify on deposits instead of tax returns. 12- or 24-month statements, subject to underwriting.
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Talk to us about a bank-statement / Non-QM loan in South Carolina
We work South Carolina files from the Grand Strand and Charleston to Columbia, Greenville-Spartanburg, and Rock Hill near Charlotte.
- Have 12–24 months of statements handy.
- Tell us the South Carolina town or price range.
- No rate, approval, or timing guarantees.
Licensed lender and broker. No rate, approval, or timeline guarantees.
Self-employed in South Carolina
South Carolina’s self-employed borrowers include coastal tourism and hospitality owners, contractors riding the state’s growth, suppliers and contractors around Upstate manufacturing, and retirees running consulting businesses. Tax returns are designed to keep taxable income low, which is exactly what can make a conventional mortgage hard to get. A bank-statement loan looks at deposits instead.
How a bank-statement loan works
- Pick the statement period. 12 or 24 months of personal or business statements, depending on which better reflects your income.
- Calculate qualifying income. Personal statements usually count eligible deposits. Business statements usually apply an expense factor or use a CPA or tax-preparer letter.
- Underwrite the rest of the file. Credit, down payment, reserves, and the property are reviewed like any other mortgage, subject to the investor’s guidelines.
- Fund it or shop it. In South Carolina, Forte Financial is a licensed direct lender: we can fund your loan in-house, or shop it with our investor network if another investor fits the file better.
Loan amounts on these programs can go up to about $3 million, subject to credit, assets, and the property. Primary homes, second homes, and investment properties may all be eligible.
Who it often fits in South Carolina
- Grand Strand and Charleston-area tourism business owners
- Builders and trades in fast-growing counties
- Upstate contractors and suppliers
- Semi-retired consultants with 1099 income
If your returns show a loss but your accounts show steady deposits, have the conversation before you assume the answer is no.
South Carolina details worth knowing
South Carolina taxes second homes and rentals at a higher assessment ratio than a primary residence. If you are buying a second home, plan for that tax bill in the payment.
What to have ready
- 12–24 months of statements for every account you want counted
- Proof you have been self-employed long enough, often two years
- Down payment and reserve statements
- A property address or a target price range
Programs, guidelines, and availability change and are subject to credit, income, property, and underwriting approval. Nothing here is a rate quote, a commitment to lend, or a guaranteed timeline. South Carolina Department of Consumer Affairs, Mortgage Broker License.
Frequently asked questions
Can I buy a South Carolina second home with a bank-statement loan?
Often. Many bank-statement programs allow second homes. The second-home property tax in South Carolina is usually higher than the primary-residence rate, so include it in the budget.
How many months of bank statements do I need?
Most programs use 12 or 24 months of personal or business statements. Some allow a mix. Which one fits better depends on how steady your deposits have been.
Is a bank-statement loan more expensive than conventional?
Often, yes. Non-QM pricing is usually higher than agency pricing because of the different documentation. Call for today’s terms. We do not post rates that may be outdated.
Can I buy an investment property with a bank-statement loan?
Many programs allow primary homes, second homes, and investment properties. If the property is a rental, compare a DSCR loan too, which qualifies on rent instead of your income.
Are you a broker or a lender?
In South Carolina, Forte Financial is a licensed direct lender: we can fund your loan in-house, or shop it with our investor network if another investor fits the file better. South Carolina Department of Consumer Affairs, Mortgage Broker License.
Related pages
Also in South Carolina: DSCR investor loans in South Carolina · HELOCs in South Carolina
Bank-statement loans in other states we serve: Connecticut · New York · New Jersey · Massachusetts · Pennsylvania · Florida · North Carolina · Texas
Learn: Bank statement loan requirements for the self-employed · DSCR vs. bank-statement loans: which fits?
Bank-statement / Non-QM program overview → · All states and loan types →
Start with a call or the application.
Tell us about the South Carolina property and what you are trying to do. We will tell you honestly whether Bank-statement / Non-QM fits.