$295,000
Median Home Price
$250,000
Avg. Loan Amount
35K
Population
8+
Licensed Lenders
Key Myrtle Beach Neighborhoods
Explore popular neighborhoods and their median home prices. Click on map markers for details.
Map Legend
North Myrtle Beach
$375KQuieter beaches, families
Surfside Beach
$325KFamily-friendly, affordable
Market Common
$395KMixed-use, walkable
Myrtle Beach Real Estate Market
Why Non-QM loans are popular in Myrtle Beach
Growing demand for flexible mortgage solutions in Myrtle Beach
Self-employed professionals benefit from bank statement loan programs
Real estate investors use DSCR loans for rental property financing
Non-QM loans available for borrowers with recent credit events
Frequently Asked Questions
Common questions about Non-QM loans in Myrtle Beach
What is the minimum credit score for Non-QM loans in Myrtle Beach?
Most Non-QM lenders serving Myrtle Beach require a minimum credit score of 620-660, though some programs accept scores as low as 580 with compensating factors like larger down payments.
Can I get a bank statement loan in Myrtle Beach, South Carolina?
Yes, bank statement loans are available in Myrtle Beach. Self-employed borrowers can qualify using 12 or 24 months of personal or business bank statements instead of tax returns.
What are DSCR loan requirements in Myrtle Beach?
DSCR loans in Myrtle Beach typically require a debt service coverage ratio of 1.0 or higher, meaning the property's rental income must cover the mortgage payment. No personal income verification is needed.
How much can I borrow with a Non-QM loan in Myrtle Beach?
Non-QM loan amounts in Myrtle Beach typically range from $100,000 to $3 million or more. With a median home price of $295,000, many borrowers find Non-QM loans essential for their purchase.
What Non-QM programs are most popular in Myrtle Beach?
The most popular Non-QM programs in Myrtle Beach include bank statement loans for self-employed borrowers, DSCR loans for real estate investors, and asset depletion loans for high-net-worth individuals.