What is the difference between DSCR/DCR/DSR? These terms are interchangeable. A DSCR is an important term used to measure a property's ability to cover its debt obligation. DSCR stands for Debt Service Coverage Ratio DCR stands for Debt Coverage Ratio DSR stands for Debt Service Ratio What is a DSCR …
What is a VA IRRRL?
What is a VA IRRRL? A VA IRRRL loan is an Interest Rate Reduction Refinance Loan (IRRRL), sometimes called a VA Streamline loan offered by the U.S. Department of Veterans Affairs (VA). When interest rates drop, many South Carolina Veterans and other homeowners with VA loans consider saving money with a refinance. The …
Add property value and income with an accessory dwelling unit!
What is an accessory dwelling unit? Accessory Dwelling Units (ADUs) have been known by many names: granny flats, in-law units, backyard cottages, secondary units, garage units, and more. They are accessories to a primary residence and provide complete independent living accommodations for one or more people. It is …
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Homeowner goals for Baby Boomers
The best routes for retirement Baby boomers own the most significant portion of housing value nationwide. Data from the Federal Reserve shows that total real estate wealth in the fourth quarter of 2023 was $44.84 trillion, and boomers claimed an impressive $18.65 trillion (42%) share of that value. A baby boomer is …
Multi-generational housing benefits
What is Multi-generational housing? Multi-generational housing, a unique living arrangement where multiple generations (such as parents, children, and grandparents) share a household, is gaining popularity in South Carolina. It's not just a solution for families trying to navigate the challenging housing market as …
Tips for South Carolina Homebuyers
What you need to know when buying a house in South Carolina Potential homebuyers often face the same challenges when purchasing their first home, especially the hurdle of coming up with the down payment and other costs associated with closing a home loan. Even borrowers with good income, credit, and stable employment …
