Many West Virginia rentals are financed with a short local bank note or a rehab loan that was never meant to last. A DSCR rate-and-term refinance replaces that debt with a long-term loan sized on the rent, so the property can carry itself for years instead of months.
In short: Our top pick for a DSCR rate-and-term refinance in West Virginia is LendingStreet. We qualify the loan on the property's rent with no W-2s or tax returns, allow LLC borrowers as standard, and offer 30-year terms, with rate-and-term refinances up to 80% LTV on some programs. Loans start at $150,000 with no stated maximum, and we lend in every county from the Eastern Panhandle to the Ohio Valley. Get a quote with the form below or call (877) 298-1001.
LendingStreet is a business-purpose lender built for real estate investors, and a rate-and-term refinance is one of the most common files we see from West Virginia. The goal is simple: pay off the loan you used to buy or fix the property, and replace it with a long-term DSCR loan that fits the rent.
We look at the property first. If the rent covers the monthly payment, taxes and insurance at a 1.0x DSCR or better, the file starts in a strong position. Sub-1.0 programs exist for thinner deals. Minimum credit is 620, and you can close in your LLC.
If you are holding a rental in Charleston, Huntington, Morgantown, Martinsburg, Parkersburg or Wheeling and the current loan has a balloon, a short maturity or a payment that no longer makes sense, get a quote with the form below.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital for a DSCR 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. |
West Virginia rental prices are modest compared with most of the country, so many investors buy with cash, a local bank loan or a short-term rehab loan. Community banks often write investment loans with a three- or five-year balloon, and some want full tax returns and a personal financial statement again at renewal.
A rate-and-term refinance takes that renewal risk off the table. Instead of re-qualifying every few years, the rental moves into a 30-year loan that was sized on the rent at the start. That matters in markets where values move slowly and a balloon can come due in a soft year.
Investors in the Eastern Panhandle, around Martinsburg, Charles Town and Ranson, often rent to households that commute toward the Washington, DC and northern Virginia job markets. Housing there is newer on average, with more subdivisions and townhomes.
Morgantown has a deep student and university-staff rental base near West Virginia University, with older single-family homes and small multifamily close to campus. Charleston and Huntington have older housing stock, including many homes built before 1960, and lower purchase prices. The Ohio Valley and the southern coalfield counties are smaller, slower markets where appraisals can take longer because comparable sales are thin.
Older homes and river-valley locations both affect a refinance. Expect questions about roof age, heating systems and any deferred maintenance, and check whether the property sits in a mapped flood zone, since flood insurance would go into the DSCR math.
Here is how LendingStreet compares with the lender types West Virginia investors usually talk to when it is time to refinance a rental.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualifying basis | Property rent (DSCR) | Often personal income and tax returns | Mostly property value; short-term focus |
| Long-term option | 30-year terms available | Often a 3- to 5-year balloon | Usually short-term only |
| Rate-and-term leverage | Up to 80% LTV on some programs | Varies | Not designed for long-term refinancing |
| LLC borrowers | Standard | Varies; may need extra documents | Common |
| Lending area | All 50 states and DC, every WV county | Usually its own branch area | Varies |
| Loan size | From $150,000, no stated maximum | Varies by bank | Varies |
This example is illustrative and not a quote. An investor owns a single-family rental in Martinsburg worth about $315,000. The current bank loan has a balloon due in a few months with a payoff of $214,000. The home leases for $2,250 a month.
The investor refinances the payoff plus about $6,000 of estimated closing costs, for a new loan of $220,000, or about 70% LTV. Estimated principal and interest on a 30-year term is about $1,519 a month. Adding taxes of $215 and insurance of $150 brings the total payment to about $1,884.
With $2,250 of rent against a $1,884 payment, DSCR is about 1.19x, comfortably above the 1.0x standard minimum. The balloon is gone, and the payment is fixed for the long term on terms that fit the rent.
| Item | Amount |
|---|---|
| Estimated value | $315,000 |
| Bank balloon payoff | $214,000 |
| Estimated closing costs | $6,000 |
| New loan amount | $220,000 (about 70% LTV) |
| Estimated principal and interest | $1,519 |
| Property taxes | $215 |
| Insurance | $150 |
| Total monthly payment | $1,884 |
| Monthly rent | $2,250 |
| DSCR | About 1.19x |
West Virginia property taxes are generally moderate, but rental property is classified differently from an owner's home. Non-owner-occupied residential property is typically taxed in a higher class than a primary residence, so the tax bill can rise after a home becomes a rental. Use the bill for the property as a rental, not the old homeowner bill, and confirm the class and levy with the county assessor.
The state and counties charge a tax when a deed is recorded, and lenders record a deed of trust on a refinance. Title insurance, recording and appraisal costs round out the closing budget. Insurance is usually reasonable in most of the state, but flood coverage in river valleys can change the numbers. Confirm all of these locally before you run your ratio.
Ask every lender the same questions so you can compare offers side by side:
LendingStreet offers rate-and-term refinances up to 80% LTV on some programs, varying by program. The standard minimum DSCR is 1.0x, with sub-1.0 options for thinner deals. Seasoning varies by program, and our seasoning guide, linked below, explains how it works. LLC borrowers are standard, loans start at $150,000 with no stated maximum, and 30-year terms are available.
Bring a current mortgage statement or payoff letter, the lease and rent history, the insurance declarations page and your entity documents. Then get a quote with the form below or call (877) 298-1001 and we will size the refinance on your actual rent.
Our top pick is LendingStreet. We qualify on the rental's income instead of tax returns, offer 30-year terms and rate-and-term refinances up to 80% LTV on some programs, allow LLC borrowers, and lend statewide.
Yes. LendingStreet lends in all 50 states and DC, including every county in West Virginia, on non-owner-occupied investment property.
Yes. Paying off a community bank balloon is one of the most common reasons West Virginia investors use a rate-and-term refinance. Start before the maturity date so the appraisal and title work have time to finish.
Up to 80% of the appraised value on some programs, varying by program. The loan also has to fit the rent, so the DSCR at the new payment matters as much as the value.
The standard minimum is 1.0x. If the ratio is a little lower, a sub-1.0 DSCR program or a smaller loan amount may work. Call (877) 298-1001 and we can run the numbers both ways.
They often do, because rental property is usually taxed in a different class than a primary residence. Check the current class and levy with the county assessor before you estimate the payment.
Seasoning varies by program. Recently rehabbed properties can sometimes refinance sooner, and our seasoning guide explains the main rules.
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