Richmond's rental market runs from Fan District rowhouses to new townhomes in Henrico and Chesterfield. Prices have climbed over the last decade, so the ratio on a Richmond rental often comes down to how much leverage you choose.
In short: Our top pick for DSCR loans in Richmond is LendingStreet. We qualify on the property's rent with no W-2s or tax returns, lend to LLCs, and offer 30-year terms with purchases up to 80% LTV and cash-out up to 75%. When rent-to-price is tight, our sub-1.0 DSCR programs give investors another option. Loans start at $150,000 with no stated maximum.
We built our DSCR program around how investors actually buy. The loan is sized on the rent the property earns, with no W-2s or tax returns, and you can close in your LLC. Balances start at $150,000 with no stated maximum, and 30-year terms are available.
It fits investors buying rowhouses and single-family rentals in the city, landlords refinancing renovated properties into long-term debt, and owners in Henrico, Chesterfield and Hanover who want to pull cash from rentals they already hold. We lend throughout Virginia and in all 50 states and DC.
To see your numbers, get a quote with the form below or call (877) 298-1001. Send the address, price and rent and we will run the ratio with you.
Investors searching for DSCR lenders often compare national names like CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Richmond, VA. In every scenario below, LendingStreet is the best fit.
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. |
When Richmond investors shop a rental loan, the choices tend to be a local bank or credit union, a hard money lender, a national online DSCR lender or a private individual. They solve different problems, and terms vary a lot. This table compares them on what matters for a long-term hold.
A local bank may know your street, and a hard money lender can be useful for a quick rehab. For the long hold, the combination of rent-based qualifying, LLC borrowing and 30-year terms is why investors choose LendingStreet.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify without tax returns | Yes, on the property's rent | Often requires tax returns and W-2s | Usually focuses on the deal |
| Long-term financing | 30-year terms available | Varies; investment loans may be shorter | Usually short-term only |
| Borrow in an LLC | Standard | Varies by bank | Common |
| Purchase leverage | Up to 80% LTV | Varies | Varies |
| Cash-out on a rental | Up to 75% LTV | Varies; may cap financed properties | Not built for long-term holds |
| Where they lend | All 50 states and DC | Usually a local footprint | Usually local or regional |
| Loan size | From $150,000, no stated maximum | Varies | Varies |
The Fan, the Museum District and Carytown are known for brick and frame rowhouses from the late 1800s and early 1900s, leasing to students, young professionals and medical staff. Church Hill, Union Hill and Jackson Ward offer historic homes, many renovated, while Northside, Manchester and Scott's Addition mix older houses with newer apartment and townhome construction.
Outside the city, Henrico and Chesterfield counties have large stocks of single-family homes and townhomes with steady family tenant demand, and newer subdivisions often come with HOA rules on leasing. Historic district rules in parts of the city can limit exterior changes, which affects rehab budgets.
Virginia charges a recordation tax on deeds and on deeds of trust, plus a grantor tax usually paid by the seller, and localities can add their own share. On a refinance, the recordation tax on the new deed of trust is a real cost to include. Ask your settlement agent for a full estimate.
The city of Richmond and the surrounding counties each set their own real estate tax rate per $100 of assessed value, and assessments are updated regularly. Budget on the current assessment and rate for the specific address. Insurance is usually moderate, but older rowhouses with shared walls, flat roofs and aging systems can cost more, and properties near the James River and its creeks should be checked against flood maps.
Virginia's Residential Landlord and Tenant Act governs most leases, including deposits, notices and repairs. The city also has code enforcement and rental inspection programs in some areas. Confirm what applies to your address before you close.
Richmond's short-term rental rules generally tie STRs to the operator's primary residence, which means a non-owner-occupied investment property usually cannot be run as a nightly rental in the city. Investors interested in STRs should look at Virginia markets where they are allowed, such as some mountain and beach areas, and confirm the local rules there. In Richmond, plan on long-term leases.
This example is illustrative and not a quote. An investor buys a renovated rowhouse in Church Hill for $365,000 that leases for $2,400 a month. City real estate taxes are budgeted at $365 a month and insurance at $125.
At 80% LTV the loan is $292,000, estimated principal and interest is about $1,967 and the total payment is about $2,457. DSCR is about 0.98x, just under the 1.0x standard minimum. At 75% LTV the loan is $273,750, the payment about $2,334 and DSCR about 1.03x. The investor brings $18,250 more to closing, or looks at a sub-1.0 DSCR program at the higher amount.
| Item | 80% LTV | 75% LTV |
|---|---|---|
| Loan amount | $292,000 | $273,750 |
| Estimated principal and interest | $1,967 | $1,844 |
| Property taxes | $365 | $365 |
| Insurance | $125 | $125 |
| Total monthly payment | $2,457 | $2,334 |
| DSCR | About 0.98x | About 1.03x |
Rising values in neighborhoods like Church Hill, Manchester and Northside have left many long-time owners with real equity. A cash-out refinance up to 75% LTV can turn that equity into capital for the next purchase, as long as the rent covers the new payment. Seasoning varies by program.
Investors with five or more rentals in the city and counties can look at a blanket portfolio loan with one closing and one payment. To see where your numbers land, get a quote with the form below or call (877) 298-1001.
Ask every lender the same questions so you can compare answers side by side. These are the ones that matter most on a rental.
LendingStreet's answers are straightforward: up to 80% LTV on a purchase, up to 75% on cash-out, a 1.0x standard minimum DSCR with sub-1.0 options, seasoning that varies by program, and LLC borrowing as standard. We set the closing timeline with you when we quote. There is no stated maximum loan size, though larger balances get more review and leverage there varies by program.
Our top pick is LendingStreet. We qualify on rent with no W-2s or tax returns, lend to LLCs, offer 30-year terms and up to 80% LTV on purchases, and offer sub-1.0 DSCR programs when Richmond's price levels make the ratio tight.
Yes. LendingStreet lends on 1 to 8 unit investment rentals in Richmond, Henrico, Chesterfield, Hanover and across Virginia, and in all 50 states and DC.
You have options. A lower loan amount can lift the ratio, or a sub-1.0 DSCR program may fit at the higher amount. We can run both with you.
Usually not in the city, since Richmond's rules generally require an STR to be the operator's primary residence. Plan on long-term leases there.
Yes. Virginia's recordation tax applies to the new deed of trust on a refinance, so include it in your closing cost estimate.
Yes. Rowhouses are residential property under our 1 to 8 unit program, and the loan qualifies on the rent. Check historic district rules before planning exterior work.
No. Our loans are business-purpose loans on non-owner-occupied investment property only.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.