DSCR Loans in North Carolina (NC) | DSCR Lender From 6.75%
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DSCR Loans in North Carolina

Rental property financing across the Tar Heel State. Qualify on property income, not tax returns, and close in your entity.

Ledger is a DSCR lender for Charlotte, Concord, Raleigh, Greensboro, Wilmington, and the rest of North Carolina. Loans qualify on the property's rental income, not tax returns: 30-year fixed, up to 80% LTV, 1.00x minimum DSCR, 680 minimum FICO, $100K to $3M, closed in an LLC.

Overview

DSCR Rental Loans for North Carolina Investors

A DSCR (Debt Service Coverage Ratio) loan qualifies based on the property's rental income divided by its monthly debt payment. No W-2s, no pay stubs, no personal income documentation. The property's performance is what matters. Learn more about how DSCR works.

North Carolina has become one of the fastest-growing states for rental investment, driven by major metro expansion and corporate relocations. DSCR financing matches the pace of this market, giving investors a clean, scalable path to finance acquisitions and refinances across the state. See all our North Carolina lending programs.

North Carolina Market

A Growth State for Rental Investors

Charlotte and the Raleigh-Durham Triangle anchor North Carolina's rental market. Charlotte's banking and financial services sector attracts a steady stream of relocating professionals, while the Triangle's university and tech ecosystems create deep renter demand. Both metros have seen sustained population growth that supports rising rents and low vacancy rates.

The Piedmont Triad (Greensboro, Winston-Salem, High Point) gives lower entry prices. Wilmington, Fayetteville, and Asheville round out the state. Ledger finances long-term rentals only, with leases of 12 months or more. Short-term and vacation rentals are not eligible, in the mountains, on the coast, or anywhere else.

North Carolina DSCR Loan Requirements

The requirements are the same in every North Carolina market. A DSCR loan qualifies on the property, so we do not ask for tax returns, W-2s, or pay stubs.

How the DSCR Is Calculated

DSCR is the monthly rent divided by the monthly payment. The payment includes principal, interest, property taxes, insurance, and any association dues. On a purchase, the rent is the market rent from the appraisal. On a refinance, the rent is the lower of the lease rent and the market rent. The What Is DSCR page has the full math.

Worked Example: A Charlotte Rental Purchase

The numbers are illustrative. An investor buys a single-family rental in Charlotte for $340,000. The appraisal comes in at $340,000 with a Form 1007 market rent of $2,300 a month. Rate 7.25%, 30-year fixed. Taxes and insurance are $370 a month.

Line80% LTV75% LTV
Loan amount$272,000$255,000
Down payment$68,000$85,000
Principal and interest at 7.25%$1,856$1,740
Taxes and insurance$370$370
Total monthly payment (PITIA)$2,226$2,110
Market rent (Form 1007)$2,300$2,300
DSCR1.03x1.09x

Both loans clear the 1.00x minimum. If the taxes or the rate come in higher, the 80% loan can drop below 1.00x, and the 75% loan holds. Run your own numbers on the DSCR rental loan calculator.

North Carolina Markets We Lend In

The program terms are the same in every North Carolina market. Ledger lends in:

A property in a smaller market needs reasonable access to a metro area of 250,000 or more people. A rural property needs exception approval, at a maximum 65% LTV and a minimum 1.15x DSCR, on a tenanted refinance only.

How to Get a DSCR Loan in North Carolina

  1. Send the property. The address, the price or value, and the rent. We quote the rate and the leverage.
  2. Sign the term sheet and the loan application. We order the appraisal with the Form 1007 rent schedule.
  3. Send the file. Entity documents, insurance, bank statements for the cash to close, and the lease on a refinance.
  4. Close. The loan closes through a North Carolina closing attorney, 3 to 4 weeks from a complete file.

Building rentals to hold? A construction loan funds the build, and a DSCR rental refinance pays it off when the home is complete and leased. See build to rent loans. For every Ledger program in the state, see North Carolina private lending.

Program Details

North Carolina DSCR Loan Parameters

Rates From
6.75%
Max LTV
Up to 80%
Min DSCR
1.00
Loan Range
$100K - $3M
Term
30-Year Fixed
Vesting
LLC, LP, or Corp
Property Types
SFR, 2-10 Unit, Townhomes
A 680 minimum FICO (700 or higher preferred), a 1.00x minimum DSCR on 1 to 4 unit properties, and a loan from $100,000 to $3,000,000, closed in an LLC or other entity. Leverage goes up to 80% LTV on a purchase or rate-and-term refinance and 75% with cash out, on loans up to $1.5 million. The appraisal includes a Form 1007 market rent schedule. We do not ask for tax returns, W-2s, or pay stubs.
Send the address, the price or value, and the rent. We quote the rate and the leverage. You sign the term sheet and the loan application, and we order the appraisal with the Form 1007 rent schedule. The loan closes through a North Carolina closing attorney, 3 to 4 weeks from a complete file.
Yes. Ledger lends across the Charlotte metro, including Concord, Kannapolis, Mooresville, Huntersville, Gastonia, Matthews, and Indian Trail. The terms are the same as in the rest of the state. The worked example on this page uses a $340,000 Charlotte rental.
Yes. Ledger lends across the Triangle, including Raleigh, Durham, Cary, Chapel Hill, Apex, and Wake Forest. Single-family homes, townhomes, and 2 to 10 unit properties qualify. Condominiums do not.
Yes. We lend in Greensboro, Winston-Salem, High Point, Wilmington, Fayetteville, Asheville, Hickory, and other markets with reasonable access to a metro area of 250,000 or more people. A rural property needs exception approval, at a maximum 65% LTV and a minimum 1.15x DSCR, on a tenanted refinance only.
On a purchase, no. The loan uses the market rent from the appraisal. On a refinance, yes. The property must be leased at closing, with a signed lease of 12 to 36 months to a third-party tenant. The loan uses the lower of the lease rent and the appraised market rent.
No. Ledger finances long-term rentals only, with leases of 12 months or more. Short-term rentals, Airbnbs, and vacation rentals are not eligible, in any market.
Yes. A cash-out refinance goes up to 75% LTV on loans up to $1.5 million, at a 680 minimum FICO. Cash out is capped at $500,000 when the loan is above 65% of value and $1,000,000 at 65% or below. The largest cash-out loan is $2,500,000.
Yes. You do not need to live in North Carolina. The loan closes in your LLC, LP, corporation, or revocable trust, formed in the US. The property must be a non-owner-occupied rental.
Yes. Ledger does it with two loans. A ground-up construction loan funds the lot and the build, up to 90% of cost. When the home is complete and leased, a 30-year DSCR rental refinance pays off the construction loan. See build to rent loans for the full structure.
More DSCR Markets

DSCR Loans in Other States

We fund the same 30-year fixed DSCR program in 45 states plus DC, with identical terms in every market. Popular programs include Florida DSCR loans and Texas DSCR loans. New to income-based qualifying? Start with what DSCR is and how it's calculated, or see everywhere we lend.

Florida Texas Ohio New Jersey New York

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