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UNITEDLENDING

Investment property loans · Richland County, SC

Hard money, fix and flip and DSCR loans in Columbia, SC

Columbia is the state capital and home to the University of South Carolina, which enrolls more than 30,000 students on its Columbia campus, and to Fort Jackson, the Army's largest basic combat training post. Investors buy rentals near the campus and downtown, and renovate early 1900s houses in older districts such as Elmwood Park, Waverly and Old Shandon. The city requires a permit for every long-term rental unit and a separate permit for short-term rentals, so both belong in the plan from the start.

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Where investors buy

Neighborhoods investors look at in Columbia

Near downtown, much of the housing dates from about 1890 to 1930: Queen Anne, Colonial Revival, American Foursquare and Craftsman bungalow houses in early suburbs like Elmwood Park and Waverly. Mill villages grew up around the city's textile mills, and suburbs spread outward after World War II.
Elmwood ParkSold at auction in 1905 on the old state fairgrounds and annexed in 1907, with Queen Anne, Foursquare, Colonial Revival and Craftsman-style houses.
WaverlyColumbia's first suburban development, with houses built from about 1898 to 1925, and a city preservation district bounded by Gervais, Harden and Taylor streets and Millwood Avenue.
Old ShandonA planned middle-class neighborhood with houses from the 1890s to the 1950s in Queen Anne, Colonial Revival and Craftsman styles.
Congaree VistaA former warehouse district along Gervais Street that became a mix of restaurants, galleries, shops and housing from the 1990s on.
Granby and Olympia mill villagesWorker housing that grew up around textile mills such as Granby and Olympia in the early 1900s.

Loan programs

Loans for Columbia real estate investors

Pick the loan that fits the deal: short-term money to buy, renovate or build, or a long-term loan to hold the property. Published limits are subject to appraisal and underwriting.
Long-term

DSCR rental loans in Columbia

30-year loans for Columbia rentals of 1–4 units, fixed or adjustable, qualified on the rent with no personal income verification: up to 85% of the price on a purchase, with loans from $75,000.

Purchase LTV up to85%
Term30 years
Income docsNot required
Loans from$75K

Subject to appraisal and underwriting.

DSCR loans: terms and requirements
Short-term

Fix and flip loans in Columbia

Buy and renovate in Columbia with up to 95% of the price and 100% of the rehab budget, on a 12–18 months interest-only loan with no prepayment penalty when the house sells.

Purchase price up to95%
Rehab funded up to100%
Term12–18 months
Prepayment penaltyNone

Subject to appraisal and underwriting.

Fix and flip loans: terms and requirements
Short-term

Bridge loans in Columbia

Close quickly on a Columbia property with up to 95% of the cost financed and a 12–18 months interest-only term, then sell it or refinance onto a long-term loan. No prepayment penalty.

Leverage up to95% LTC
Term12–18 months
PaymentsInterest only
Prepayment penaltyNone

Subject to appraisal and underwriting.

Bridge loans: terms and requirements
Short-term

Ground-up construction loans in Columbia

Financing for new builds in Columbia, from spec homes built to sell to rentals built to hold. Every project is quoted on its plans, budget and builder.

Quoted on your deal.

Construction loans: get a quote
Long-term

Multifamily and commercial loans in Columbia

Financing for Columbia apartment buildings of five units or more, mixed-use and commercial property, quoted on the building's income.

Quoted on your deal.

Multifamily and commercial: get a quote

Good to know

Before you buy in Columbia

Local rules and costs that change a deal's numbers or closing date in Columbia and Richland County. Sources are listed at the bottom of the page.
  • Get a City residential rental permit for each long-term unit. The owner certifies that the unit meets minimum safety standards, each property needs its own permit, it lasts 12 months, and the current form lists $25 per unit for owners of up to four units.
  • If you live more than 45 miles from Columbia, name a local agent on the permit. City rules allow no more than three unrelated people in one unit, which matters for student rentals.
  • For stays under 30 days, get zoning approval and a business license first, then a separate short-term rental permit for each unit. The yearly fee is higher for units the owner doesn't live in.

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Have a Columbia property in mind?

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United Lending LLC offers business-purpose financing secured by non-owner-occupied investment real estate. We do not offer loans for personal, family or household purposes, or loans on owner-occupied primary residences.

Questions

Loans in Columbia: common questions

Do you offer hard money loans in Columbia?

Yes. United Lending LLC offers private real estate financing for investors in Columbia and the rest of Richland County: fix and flip and bridge loans sized on the deal, and DSCR rental loans sized on the rent. We're headquartered in Brooklyn, New York, and lend nationwide.

Do you offer DSCR loans in Columbia?

Yes. Our DSCR loans are 30-year loans on 1–4 unit rentals, fixed or adjustable, qualified on the property's rent against its monthly payment with no personal income verification, up to 85% loan-to-value on a purchase and loans from $75,000. Investors use them for rentals in Elmwood Park, Waverly and Old Shandon, among other parts of Columbia.

How much can I borrow for a Columbia flip?

Up to 95% of the purchase price and up to 100% of the rehab budget, on a 12–18 months interest-only loan. Those are maximums, subject to appraisal and underwriting: the property, your experience and the comps set what your loan gets.

Is there a prepayment penalty on a loan in Columbia?

There's no prepayment penalty on fix and flip or bridge loans. DSCR rental loans come with a choice of prepayment terms, from none up to five years, set out in your written terms before you commit.

Do I need to live in Columbia or have a South Carolina LLC?

No. You can borrow in your own name or through an LLC, wherever you live; many of our borrowers invest outside their home state. If your LLC was formed outside South Carolina, your loan officer will tell you what's needed before closing.

South Carolina

More places we lend in South Carolina

Sources (7)Checked November 10, 2026

United Lending's loan terms are its published program limits. The local rules and costs on this page come from the public sources below, checked on the date shown; confirm them with the city, county or your closing attorney before you rely on them.

  1. City of Columbia Police Department: Rental Housing Regulations Ordinance (2016)
  2. City of Columbia Code Enforcement: Residential Rental Permit Application, up to 4 units (2024)
  3. City of Columbia Police Department: Short-Term Rentals (Ordinance 2023-037)
  4. Wikipedia: Columbia, South Carolina
  5. Wikipedia: Elmwood Park Historic District (Columbia, South Carolina)
  6. Wikipedia: Waverly Historic District (Columbia, South Carolina)
  7. Wikipedia: Old Shandon Historic District