Virginia investors work across very different markets, from Hampton Roads military rentals to Richmond rowhouses to the mountain towns west of the Blue Ridge. What they share is a recordation tax on most refinances, which belongs in the numbers before you choose a loan.
In short: Investors refinancing Virginia rentals choose LendingStreet because the DSCR loan looks at rent instead of tax returns, lends to LLCs as standard, offers 30-year terms and goes up to 80% LTV on some rate-and-term programs. Virginia charges a recordation tax on deeds of trust, including many refinances, so we build that cost into your closing estimate along with the appraisal, title and current tax bill. Start with the form below, or call (877) 298-1001.
A rate-and-term refinance should do one job well: take a Virginia rental off expensive or expiring debt and put it on a long-term loan that the rent supports. That is the loan LendingStreet is built to make.
We underwrite the property's cash flow, so W-2s and tax returns stay out of it. LLCs borrow as standard, loans start at $150,000 with no stated cap, rate-and-term LTV reaches 80% on some programs, and 30-year terms are available with a 620 minimum score and a 1.0x standard DSCR.
Send us the basics through the form below, or call (877) 298-1001, and we will size your Virginia loan.
Investors searching for DSCR refinance 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 Virginia. 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. |
In Hampton Roads, investors hold rentals near the bases in Norfolk, Virginia Beach, Chesapeake, Portsmouth and Newport News. Richmond's older neighborhoods and suburbs such as Henrico and Chesterfield draw investors who renovate single-family homes and small multi-families. Roanoke, Lynchburg and Charlottesville have their own steady rental markets.
Many of these deals start on bridge or hard money loans, or on bank loans with balloons. Once the property is stabilized, a rate-and-term DSCR refinance replaces that debt with a 30-year term sized on the rent.
Rental inspection districts exist in some Virginia cities, and older homes may need lead disclosure. Check with the city before your appraisal so there are no surprises.
Virginia investors usually choose among a local bank or credit union, a short-term lender and a DSCR lender. Here is a fair, general comparison on the things that matter for a rate-and-term refinance.
If your income documents are simple and you only own one Virginia rental, a bank may be fine. If you hold rentals in an LLC, want 30-year terms and would rather qualify on rent, LendingStreet is the better fit.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualifying basis | DSCR on rent, 1.0x standard | Debt-to-income and tax returns, often | Value and project plan |
| Maximum LTV, rate-and-term | Up to 80% on some programs | Varies by bank | Not a long-term product |
| Long-term option | Yes, 30-year terms | Sometimes, often with a balloon | No; refinance needed later |
| Entity borrowers | LLCs are standard | Varies | Common |
| Minimum loan | $150,000, no stated maximum | Varies | Varies |
| Multi-state portfolios | All 50 states and DC | Usually one region | Usually one region |
| Recordation tax on the refinance | Included in the closing estimate | Also applies; varies | Also applies; varies |
Virginia's state recordation tax is $0.25 per $100 of the loan amount, and cities and counties can add a local tax of up to one-third of the state amount. Some refinances with the same lender receive partial relief. Your settlement agent will confirm the figure.
Property taxes are set by each city or county. Coastal Hampton Roads rentals can need flood insurance, and some areas see recurring high-water events, so get a quote before you apply.
Virginia closings are handled by a settlement agent, often a title company or attorney, who will calculate the recordation tax, clerk's fees and title charges. Ask for that estimate early so the new loan covers the payoff plus costs without surprises.
This example is illustrative and not a quote. An investor owns a Richmond single-family rental worth about $335,000, financed with a bridge loan used for the purchase and renovation. The payoff is $248,000 and estimated closing costs are $8,000, so the new loan is $256,000, about 76% LTV, within the 80% rate-and-term limit on some programs.
Rent is $2,400 a month. Closing costs include an estimate for state and local recordation tax. Estimated principal and interest on a 30-year term is about $1,725, taxes are $340 and insurance is $115, for a total monthly payment of about $2,180. DSCR is about 1.10x, above the 1.0x standard minimum, and the short-term loan is replaced with a 30-year term.
Your numbers will differ. Try our DSCR calculator, then get a quote with the form below for real terms.
| Item | Amount |
|---|---|
| Property value | $335,000 |
| Existing loan payoff | $248,000 |
| Estimated closing costs | $8,000 |
| New loan amount | $256,000 |
| Loan-to-value | About 76% |
| Monthly rent | $2,400 |
| Estimated principal and interest | $1,725 |
| Property taxes | $340 |
| Insurance | $115 |
| Total monthly payment | $2,180 |
| DSCR | About 1.10x |
Most programs look at how long you have held the property or the current loan. Seasoning varies by program, and a straight payoff with no cash out usually has more room; our seasoning guide has the details.
The appraiser will value the Virginia property and estimate market rent. Bring current leases, the payoff statement from your existing lender and an insurance quote. If the DSCR lands just under 1.0x, ask about sub-1.0 programs.
Put each lender through the same short list. Our answers are next to each question.
Choose rate-and-term when the goal is to replace a maturing or expensive loan and keep the Virginia property long term. If you want cash out as well, the limit is 75% LTV and seasoning often matters more.
We lend on 1 to 8 unit non-owner-occupied rentals as business-purpose loans; 9+ units go to our commercial team. When you are ready, get a quote with the form below or call (877) 298-1001.
LendingStreet is our top pick. Investors choose us because we size the loan on rent, offer up to 80% LTV on some rate-and-term programs, provide 30-year terms and lend to LLCs. Start with the form below.
Yes, LendingStreet lends in Virginia and nationwide, in all 50 states and DC.
Up to 80% LTV on some programs, varying by program, property type and loan size. Max LTV can be lower on 5-8 unit buildings and larger balances. Loans start at $150,000 with no stated maximum.
Often, yes. After the rehab and lease-up, a rate-and-term DSCR refinance replaces the short-term loan with a 30-year term sized on the rent.
The minimum credit score is 620 and the standard minimum DSCR is 1.0x. Sub-1.0 DSCR programs exist for properties where the rent is a little short of the payment.
No W-2s or tax returns are needed. The loan is qualified on the rental's income compared with its payment, along with credit and reserves.
Usually yes. The state rate is $0.25 per $100 of the loan, and localities can add up to one-third of that. Some same-lender refinances get partial relief. Your settlement agent confirms the exact amount.
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