New Construction Loans in South Carolina

From the foundation up, we’re by your side!

Ready to kick off your new construction project? BNB Lending offers fast, flexible financing with 1 to 2-year interest-only terms to help you get the job done efficiently. We provide funding for residential properties (1 to 4 units), multi-family units, condos, apartment complexes, commercial buildings, and hotel construction projects. Our financing covers up to 85% of the purchase price and 100% of vertical construction costs, ensuring your project is ready for rent or sale. Plus, with no prepayment penalties, you can refinance or sell whenever you're ready. Our quick closing process means you can get quoted and funded in as little as 14 days.

GET A QUOTE

How to qualify

To obtain a quote, we will need the following information:

Property Value and

 Purchase Price


Down Payment

Amount


Credit Score

 Asset Types

  • Single Family Homes
  • Townhomes
  • Condos
  • 2 - 4 Units (Duplex, Triplex, Quadplex)
  • Multi-Family: 5 - 8 Units
  • Mixed-Use: 2 - 8 Units
  • Multi-Family: 9+ Unit


Loan Terms

  • Loan Sizes: $100k up to $3.5 Million (Larger loan sizes available on a case by case basis)
  • Purchase LTV: Up to 85%
  • Rate & Term Refinance LTV: Up to 80% 
  • Cash Out Refinance LTV: Up to 80%
  • Amortization: 30 Year % 40 Year Amortization Options Available
  • Term Lengths: 5/6 ARMs, 7/6 ARMs, 10 Year Interest Only, 30 Year Fixed & 40 Year Fixed
  • Floor Rate: 5.50% (subject to change daily due to market volatility)
  • Full Recourse with personal guarantee required for all borrowers with majority ownership (typically 20%+ or 25%+ if closing in an Entity)
  • DSCR Requirement: 1.00x or greater depending on loan size and property type. Sub-1.00x DSCR and NO DSCR options available.
  • Vesting: Lending to Individuals, LLCs, and Corporations. Trusts Allowable on a Case by Case Basis.
  • Average Time to Close: 14 to 35 days

Wondering if you qualify for investment property financing in your area?


We offer lending services in all 50 states!

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Frequently Asked Questions

What are the requirements for getting a construction loan?

Construction loans require you to submit approved plans, permits, a licensed builder contract, and a complete line-item budget. Most lenders expect a 660+ credit score and 15%–20% down. The land must be owned or under contract. At BNB Lending, we issue funds in draws tied to construction milestones. We also evaluate builder history, reserves, and exit strategy. Organized paperwork and a defined project scope help ensure a fast, smooth process. We fund deals quickly so builders can move forward without delays.

How do home construction loans differ from traditional financing options?

Home construction loans disburse capital in stages and require only interest payments during the building process. Traditional loans offer lump-sum funding at closing and begin amortization immediately. Construction financing emphasizes the project’s documentation, builder qualifications, and feasibility—not personal income or debt ratios. Once the project is complete, borrowers typically refinance into a DSCR or long-term mortgage. This approach aligns funding with real-world timelines, making it ideal for investors building short-term rentals or rental homes from the ground up.

What credit score is needed to qualify for new construction financing?

Most construction loans require a credit score of 660, but we evaluate your full project—not just your credit. Builder experience, liquidity, draw structure, and market comps also factor in. If your score is slightly below but your documents are solid and the team is experienced, we may still fund your deal. At BNB Lending, we work with real estate professionals who need flexibility and fast closings. Strong documentation, not just credit, drives better loan terms and approval speed in our model.

Are construction loans available to small business owners or just individuals?

Construction loans are fully available to small business owners, LLCs, and corporations. Many of our clients are developers or STR operators building under business structures. A personal guarantor with 20–25% ownership is typically required. Instead of relying on income verification, we underwrite based on builder credibility, reserves, and project scope. Our model is built to support real estate businesses—not just individuals with perfect W-2s. If you have a plan and a team, we’ll help you get funded fast and clearly.

What is the typical loan rate for construction financing?

Construction loan rates usually begin at 5.50% and adjust based on credit, project complexity, location, and builder strength. These loans are interest-only during the build, reducing upfront cash requirements. After the project is complete, borrowers typically refinance into a long-term mortgage or DSCR product. At BNB Lending, we tailor rates to match the risk, timeline, and documentation strength of your deal. Better organization typically results in better pricing. Our goal is to help you close quickly without sacrificing clarity or flexibility.

What types of loans are best for new construction projects in South Carolina?

The best loans for new construction projects in South Carolina are interest-only draw loans that release funds as you complete construction milestones. These loans are perfect for coastal STRs near Charleston, duplexes in Columbia, or infill projects in Greenville. We finance up to 85% of land value and 100% of vertical build costs. Once construction wraps, most borrowers refinance into DSCR or fixed-rate mortgage loans. Our South Carolina loan programs prioritize flexibility, investor alignment, and timely closings that match your building schedule.

Explore new construction loans and other STR loans in neighboring states like North Carolina and Georgia to diversify your presence beyond South Carolina.