Hard Money Loans for Short-Term Rentals in Virginia
Hard Money Loans
From historic homes in Richmond to short-term rentals in Virginia Beach, real estate investors across the state need capital that moves quickly. BNB Lending offers hard money loans in Virginia based on the value of the property—not your credit score or income. These asset-based loans are ideal for flips, transitional rentals, and refinances that fall outside conventional lending standards. With minimal documentation and closings in 3 to 10 business days, Virginia investors can stay competitive and capitalize on profitable opportunities.
How to qualify
To obtain a quote, we will need the following information:
Property Value and
Purchase Price
Down Payment
Amount
Credit Score
Asset Types
- Single Family Homes
- Townhomes
- Condos
- 2 - 4 Units (Duplex, Triplex, Quadplex)
- Multi-Family: 5 - 8 Units
- Mixed-Use: 2 - 8 Units
- Multi-Family: 9+ Unit
Loan Terms
- Loan Sizes:
$100k up to $3.5 Million (Larger loan sizes available on a case by case basis)
- Purchase LTV:
Up to 85%
- Rate & Term Refinance LTV:
Up to 80%
- Cash Out Refinance LTV:
Up to 80%
- Amortization:
30 Year % 40 Year Amortization Options Available
- Term Lengths:
5/6 ARMs, 7/6 ARMs, 10 Year Interest Only, 30 Year Fixed & 40 Year Fixed
- Floor Rate:
5.50% (subject to change daily due to market volatility)
- Full Recourse
with personal guarantee required for all borrowers with majority ownership (typically 20%+ or 25%+ if closing in an Entity)
- DSCR Requirement: 1.00x or greater depending on loan size and property type. Sub-1.00x DSCR and NO DSCR options available.
- Vesting:
Lending to Individuals, LLCs, and Corporations. Trusts Allowable on a Case by Case Basis.
- Average Time to Close:
14 to 35 days
Wondering if you qualify for investment property financing in your area?
We offer lending services in all 50 states! Find out more and get your application started today!
Frequently Asked Questions
What are hard money loans and how do they work for real estate investors?
Hard money loans are short-term, asset-based real estate loans that emphasize the property and investment plan over the borrower’s personal financials. In Virginia, they are used for short-term rental acquisitions, quick rehabs, or refinancing investment properties. These loans typically offer 6 to 36-month terms with interest-only payments. Because they require fewer documents and less time for approval, hard money loans are a practical solution for investors who need to act quickly in a dynamic market.
When should an investor consider using a hard money loan instead of a conventional loan?
Virginia investors should consider hard money loans when working with distressed properties, using LLCs, or when they need to close within days. These loans are especially helpful for investors without recent tax returns, with limited documentation, or seeking flexible terms. Approval is based on the asset’s value and your exit strategy, not on income or credit score, making hard money ideal for unique projects that fall outside the bounds of conventional financing.
What makes hard money different from other types of financing?
Hard money loans are distinct because they focus on the deal, not the individual. Traditional Virginia lenders look at credit scores, employment history, and income documentation. Hard money lenders evaluate the value of the property and your investment plan. This allows for closings in a fraction of the time, giving you a major edge in fast-moving markets. Though the rates are higher, the speed and flexibility of hard money often provide more value than conventional loan structures can.
What are the typical loan terms for a hard money loan?
In Virginia, hard money loans typically range from 6 to 36 months with interest-only payments. Loan-to-value ratios may go up to 85% on purchases and 80% on refinances. These loans often include origination fees and may require reserves depending on deal type and borrower experience. Designed for flips, rentals, and transitional investments, Virginia’s hard money loan terms support fast execution and minimal documentation—perfect for investors ready to act quickly.
How quickly can a hard money lender close a deal?
Hard money lenders in Virginia can often close in just 3 to 10 business days. This quick turnaround is especially helpful for auction purchases, urgent sales, or rental properties that must be secured before peak season. Because lenders underwrite based on the property and the investment plan—not the borrower’s credit or income—the process is significantly faster than a traditional loan. Virginia investors use hard money to gain speed and flexibility in tight, time-sensitive situations.
Can I get a hard money loan in Virginia with poor credit or no income documentation?
Yes. Virginia real estate investors can qualify for hard money loans with poor credit or limited income documentation. These loans are based on property value and investment strategy, not personal financials. Virginia does regulate interest rates and licensing for lenders, but most business-purpose loans are exempt from strict consumer loan laws. To protect your investment, always work with a reputable, licensed lender that complies with Virginia law and clearly discloses loan terms.
Explore hard money loans and other Airbnb loans in neighboring states like North Carolina and Maryland to grow beyond Virginia.
