West Virginia rentals often cash flow well because purchase prices are modest and property taxes are low. That strong coverage is exactly what a DSCR cash-out refinance rewards, whether you own a student house in Morgantown or a commuter rental in the Eastern Panhandle.
In short: LendingStreet is our top pick for a DSCR cash-out refinance in West Virginia. The loan qualifies on the property's rent, not your tax returns, with cash-out up to 75% LTV and 30-year terms available. LLC borrowers are standard, the minimum credit score is 620, and we lend in every county. Because loans start at $150,000, we also help smaller-balance owners plan around that minimum.
For a long-term cash-out on a stabilized rental, LendingStreet offers what West Virginia investors usually want: a loan sized to the property's value and rent, a long fixed term, and no personal income paperwork.
It fits owners of student rentals near WVU and Marshall, landlords in the Kanawha Valley, and investors in Berkeley and Jefferson counties whose values have climbed with commuters from the wider Washington-Baltimore region. It also fits anyone holding rentals in an LLC.
To see your numbers, get a quote with the form below or call (877) 298-1001.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital for a DSCR cash-out refinance loan for investors in West Virginia, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Community banks are a big part of West Virginia lending, and many investors start there. Banks typically underwrite your personal income and may cap how many rentals you can carry. Hard money lenders move fast but are designed for short holds. Here is how the options line up for a cash-out:
| Question | LendingStreet | Local bank | Hard money lender |
|---|---|---|---|
| Is income documentation required? | No W-2s or tax returns; the rent qualifies the loan | Usually yes, full tax returns | Often light, varies |
| Max cash-out LTV | Up to 75% | Varies by bank | Varies |
| Long-term fixed option? | Yes, 30-year terms available | Sometimes; varies | Rarely; built for short holds |
| Can the LLC borrow? | Yes, LLC borrowers are standard | Sometimes | Usually |
| DSCR minimum | 1.0x standard, with sub-1.0 programs | Not DSCR-based; uses your income | Not usually DSCR-based |
| Number of rentals | Each rental qualifies on its own rent | Often limited by personal debt ratios | Deal by deal |
Morgantown is the state's clearest student market, with multi-bedroom houses and small multi-unit buildings leased to WVU students and staff. Huntington has a similar pattern around Marshall. Charleston and the Kanawha Valley offer older single-family homes and duplexes at modest prices.
The Eastern Panhandle, including Martinsburg, Charles Town and Shepherdstown, has seen newer subdivisions and stronger values driven by commuters. Parkersburg, Wheeling, Fairmont and Beckley round out the map, with lower price levels and older housing stock.
West Virginia assesses property at 60% of appraised value, the state's assessment ratio, and taxes it by class. Owner-occupied homes fall in Class II, while non-owner-occupied rentals fall in Class III outside municipalities or Class IV inside them, which carry higher levies. If you bought from an owner-occupant, check that your budget uses the rental classification.
Even so, taxes are low compared with many states, which helps the ratio. The bigger planning issue is loan size. A 75% cash-out on a $150,000 house produces a loan below our $150,000 minimum. Owners of lower-value rentals often refinance a higher-value property, a small multi-unit, or five or more rentals together with a blanket portfolio loan.
Many West Virginia towns sit in narrow river valleys where flash flooding is a real risk. Check the FEMA flood map and get a flood determination early, because required flood insurance goes straight into the payment and lowers DSCR.
On a refinance you will pay for a new lender's title policy, settlement and recording fees, and a valuation. West Virginia's transfer taxes apply to deeds on a sale, so a straight refinance does not usually trigger them. Confirm with your settlement agent.
This example is illustrative and not a quote. Property A is a Martinsburg single-family rental valued at $340,000, with a $120,000 payoff and rent of $2,250. At 75% LTV the loan is $255,000, estimated principal and interest is about $1,740, and with $320 of taxes and insurance the payment is about $2,060, for a DSCR of about 1.09x.
Property B is a Morgantown fourplex valued at $520,000, with a $240,000 payoff and four units renting for $4,400 combined. At 75% LTV the loan is $390,000 and estimated principal and interest is about $2,660. With $590 of taxes and insurance the payment is about $3,250, and DSCR is about 1.35x. Multi-unit student housing often shows strong coverage, but plan for turnover between school years.
| Item | Martinsburg home | Morgantown fourplex |
|---|---|---|
| Value | $340,000 | $520,000 |
| New loan at 75% LTV | $255,000 | $390,000 |
| Estimated principal and interest | $1,740 | $2,660 |
| Taxes and insurance | $320 | $590 |
| Total payment | $2,060 | $3,250 |
| DSCR | About 1.09x | About 1.35x |
| Cash out before closing costs | $135,000 | $150,000 |
Before you sign an application anywhere, get clear answers to these questions. They separate a lender built for investors from one that is not:
LendingStreet's answers, in the same order: 1.0x standard minimum with sub-1.0 programs available; seasoning varies by program; leverage up to 75% LTV on cash-out and 80% on purchase, lower on some 5-8 unit and large-balance files; LLC borrowing is standard; no stated maximum loan size above our $150,000 minimum; a closing schedule mapped out after we see the file; and a 620 credit floor.
Send the property address, estimated value, current payoff, leases and your purchase date. For student rentals, include the lease schedule. We will check seasoning, run the ratio and come back with clear options. Get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet, because we qualify on rent rather than tax returns, offer cash-out up to 75% LTV with 30-year terms, and lend to LLCs in every West Virginia county.
Yes. We finance non-owner-occupied 1-8 unit rentals statewide, from Morgantown and Charleston to Huntington and the Eastern Panhandle.
Our DSCR loans start at $150,000. On lower-value rentals, a blanket loan on five or more properties or a refinance of a higher-value property is often the better route.
Yes, if they are 1-8 unit residential properties with leases in place. Expect us to review lease terms and the property layout.
Usually yes. Rentals fall in Class III or Class IV, which carry higher levies than owner-occupied Class II property. Budget on the rental classification.
Only if the property sits in a mapped flood zone, but in West Virginia's river valleys that is common. The premium counts in the DSCR payment.
Seasoning varies by program. Tell us your purchase date and any renovation work so we can match the right one.
No. We make business-purpose loans on non-owner-occupied investment property only.
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