DSCR Loans in North Carolina

As you explore commercial and residential real estate opportunities in North Carolina, you’ll want to learn about debt service coverage ratio (DSCR) loans. North Carolina DSCR loans can help you acquire commercial or residential property when you cannot qualify for a traditional mortgage.

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Purchase
A purchase loan can be used to buy a home.


Refinance
A 'rate and term' refinance allows you to improve the terms of your existing mortgage by lowering the monthly payment. A 'cashout refinance' allows you to convert equity into cash.


Home Equity
A home equity loan or line of credit is a 2nd mortgage that allows you to convert equity to cash without having to touch your existing 1st mortgage.

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    Areas We Serve

    Griffin Funding offers DSCR loans across North Carolina, including the following locations:

    • Asheville
    • Bald Head Island
    • Cashiers
    • Chapel Hill
    • Charlotte
    • Duck
    • Durham
    • Topsail Beach
    • Weddington
    • Fayetteville
    • Greensboro
    • High Point
    • Holden Beach
    • Kure Beach
    • Marvin
    • Raleigh
    • Wrightsville Beach
    • And more

    If you’re wondering whether a property you want to purchase will qualify for a DSCR loan in North Carolina, contact us today.

    What Is a DSCR Loan in North Carolina and How Does It Work?

    A DSCR (debt service coverage ratio) loan in North Carolina is a type of real estate financing that allows investors to qualify based on a property’s income potential rather than their personal income. This makes them especially helpful for self-employed borrowers or investors who write off significant expenses on their tax returns.

    Instead of evaluating your tax returns, W-2s, or pay stubs, lenders assess the income generated by the property you want to finance. A DSCR of 1.0 or higher indicates that the property generates enough income to cover its debt obligations.

    DSCR loans in North Carolina can be used for both residential real estate portfolios and commercial investment properties, offering a flexible path to grow your portfolio without the barriers that often come with conventional financing. Whether you are buying your first rental property or expanding an existing portfolio, DSCR loans provide a streamlined way to access funding based on the strength of the property itself.

    Think you qualify for a loan? Contact us today to find out!

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    Who Qualifies for a DSCR Loan in NC?

    DSCR loans are a popular loan option, especially in fast-growing markets like Charlotte and Raleigh.

    The DSCR loan requirements in NC include:

    • Good credit score: The average credit score for borrowers that work with Griffin Funding is 732, but we can work with credit scores as low as 620.
    • Minimum loan amount of $100,000: Loan amounts typically start at $100,000 and go as high as $20 million, making DSCR loans suitable for various real estate investments.
    • Property appraisal: An appraisal is required to assess the property’s market value and expected rental income.
    • Investment properties only: DSCR loans in North Carolina are designed exclusively for non-owner-occupied, income-generating properties.

    At Griffin Funding, we offer highly competitive DSCR loan rates in North Carolina for qualified borrowers. Contact us today if you’re unsure about your DSCR loan eligibility in NC.

    Need Financial Assistance? See if you qualify for a loan today!

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    What Are the Benefits of DSCR Loans in NC?

    Whether you’re targeting long-term investments or short-term rentals like those listed on Airbnb or VRBO, DSCR loans in North Carolina provide versatile financing solutions and other valuable benefits, including:

    • No income verification: With a DSCR loan, you can obtain financing without showing proof of income.
    • Quick closing times: DSCR loans often have faster closing times than traditional mortgages.
    • High loan limits: With a DSCR loan in NC, you can get up to $20 million in financing. Whether you want to buy a single-family home or a multi-unit property, a DSCR loan provides you with the funds to achieve your goals.
    • Buy multiple properties: There is no cap on the number of properties you can finance.
    • Unlimited cash-out potential: DSCR loans allow for unlimited cash-out options, giving you the flexibility to reinvest in additional properties or other ventures.
    • Interest-only payment options: An interest-only DSCR loan in North Carolina can lower your monthly payments for a set period of time and improve cash flow.

    How to Apply for a DSCR Loan in North Carolina

    Here’s a step-by-step guide to help you navigate the process of applying for a DSCR loan in NC:

    1. Calculate your DSCR ratio: Your DSCR ratio plays a crucial role in qualifying for a DSCR loan. You can use our free DSCR calculator to estimate this figure or reach out to us and have one of our mortgage specialists calculate your DSCR for you.
    2. Assess your credit score: Ensure that your credit score meets the minimum requirement of 620. Improving your score can increase your chances of securing better loan terms.
    3. Gather required documentation: Prepare all necessary financial documents, including proof of rental income and property appraisal reports.
    4. Complete the application: Fill out a DSCR loan application through the Griffin Funding website, providing all the required information and documentation.
    5. Review loan terms: Once your application is reviewed, your lender will provide you with the DSCR loan rate in North Carolina that you qualify for, as well as the corresponding loan amount and terms.
    6. Close the loan: After accepting the loan terms, proceed to close the loan. Make sure to have all necessary funds ready for the down payment and closing costs.

    Begin the application online or request a free quote today!

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    Other Non-QM Loans From Griffin Funding

    You’ll want to explore the other loan options available from Griffin Funding if you decide that a North Carolina DSCR loan isn’t what you need. We offer additional non-QM loans that include the following.

    Find Out if You Qualify for a North Carolina DSCR Loan

    If you’re intrigued by the possibilities and benefits of a DSCR loan, we encourage you to get started online and find out if you qualify for a North Carolina DSCR loan from Griffin Funding. We offer DSCR purchase and refinance loans in North Carolina at competitive rates. Consider downloading the Griffin Gold app to help manage your finances, monitor your credit score, and get on track for the best loan terms.

    Have any questions? You can also contact us online or call us at (855) 394-8288. One of our experienced and helpful loan specialists will guide you through the process and provide all the details you need to make an informed decision.

    Frequently Asked Questions

    DSCR is calculated by taking your gross rental income and dividing that number by the total mortgage payment (the principal plus interest, taxes, and insurance).

    For example, if your property generates $100,000 in rental income and has $80,000 in debt service, your DSCR would be 1.25.

    To qualify for a DSCR loan, you must be prepared to put at least 15% down. Some lenders require a higher down payment amount of 25%, but the general range is 20-25%. You’ll also pay lender and service fees, which may be as high as 3% of the total loan amount.

    Interest rates for DSCR loans in North Carolina are typically higher than those for conventional loans because they involve more risk and use alternative qualification methods.

    Your exact rate will depend on factors such as:

    • Your credit score
    • The property’s DSCR
    • Pre-payment penalty type
    • Loan amount
    • Current market conditions

    While they may cost more upfront, DSCR loans offer greater flexibility for real estate investors and serve as a great tool for starting or expanding an investment portfolio.

    Yes. Griffin Funding specializes in no-income-verification DSCR loans for North Carolina real estate investors. You don’t need to provide W-2s, pay stubs, or tax returns. Instead, we qualify you based on the property’s debt service coverage ratio (DSCR), which indicates how well the projected or actual rent covers the mortgage payment.

    This is ideal for:

    • Self-employed borrowers
    • LLC or trust ownership structures
    • First-time investors without traditional employment documentation

    Griffin Funding offers loans from $100K to $20M, credit scores down to 620, and interest-only options to help you maximize cash flow, all without verifying personal income.

    With Griffin Funding, most DSCR loans in North Carolina can close in as little as 15 to 21 days, depending on the complexity of the file.

    We use a streamlined underwriting process that focuses on property income, not personal financials, which helps investors move quickly—especially in competitive markets like Charlotte, Raleigh, and Asheville.

    Griffin Funding’s speed and flexibility make us a top choice for real estate investors needing to act fast. Apply for a DSCR loan in Charlotte or elsewhere in NC today.