Roanoke is smaller than Richmond or Northern Virginia, and for many flippers that is the appeal: older homes at accessible prices, steady local demand and less competition for each deal. The right lender keeps that advantage by funding the rehab and closing on time.
In short: Our top pick for fix and flip financing in Roanoke, VA is LendingStreet. Investors choose us because we can close in as little as 10 days, finance up to 90% of cost with up to 100% of rehab on some programs, and keep a DSCR rental loan ready as an exit. Roanoke flips often involve older homes on hillside lots, so investors benefit from rehab funding and a clear exit, and our $150,000 minimum fits larger renovations and higher-value neighborhoods best. Loans run from $150,000 to $5M+ on 1-8 unit investment properties.
LendingStreet is a business-purpose lender built for real estate investors, and our fix and flip loans fit the way Roanoke investors work: buy a dated house, renovate it, and sell it or keep it as a rental. We lend on non-owner-occupied 1-8 unit properties in all 50 states and DC.
Our loans are short-term and interest-only. Rehab money is paid out in draws after inspections, so you are not fronting the whole renovation budget yourself.
It fits experienced flippers scaling up, contractors who renovate for profit, and newer investors with a solid plan and a capable team. The next step is simple: use the form below for a quote, or call us at (877) 298-1001.
If you are weighing Dominion Financial, LendingOne, Lima One and RCN Capital for a fix and flip loan for investors in Roanoke, VA, 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 |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| 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. |
Roanoke flippers usually choose among local banks and credit unions, local hard money lenders, private individual lenders and investor lenders like LendingStreet. Banks suit some borrowers but often want tax returns and take longer. Local hard money lenders are often quick, but terms vary and most offer no long-term option.
Here is how the options usually line up on what matters most for a flip.
| What flippers need | LendingStreet | Typical bank or credit union | Typical local hard money lender |
|---|---|---|---|
| Leverage | Up to 90% of cost; up to 100% of rehab on some programs | Often lower on investor rehab loans | Varies by lender |
| Speed | Close in as little as 10 days | Often several weeks | Often fast |
| Loan size | $150,000 to $5M+ | Varies; may limit investor loans | Varies; some cap smaller balances |
| Paperwork | Built around the deal and your plan | Often requires tax returns | Varies |
| Long-term option | Refinance into a LendingStreet DSCR loan | Varies by bank | Usually short-term only |
| Where they lend | All 50 states and DC | Usually local or regional | Often one metro or state |
In the city, investors look at Old Southwest, Raleigh Court, Grandin Village, Wasena, South Roanoke, Melrose and the Williamson Road corridor. The stock is mostly early 1900s foursquares, Craftsman bungalows, brick ranches and Victorians in the historic areas.
Salem, Vinton and Roanoke County areas such as Cave Spring and Hollins add mid-century ranches and split-levels. Salem is an independent city with its own permits and taxes, so treat it as a separate market.
Permits come from the City of Roanoke, the City of Salem or Roanoke County, depending on the address. Old Southwest and other local historic districts have design review for exterior changes, so check before you plan new windows, siding or porch work.
Hillside lots and older stone or block foundations can bring water and drainage issues in basements. Budget for wiring, plumbing, roofs and lead-safe work on pre-1978 homes. Because many Roanoke houses sell for modest prices, keep the scope aligned with what renovated homes on that street actually sell for.
Virginia's recordation tax, usually paid by the buyer, applies to the deed and the deed of trust, and the seller usually pays a grantor tax of $0.50 per $500 of price. Flippers pay buyer-side costs on the purchase and seller-side costs on the resale.
Roanoke's buyer pool is smaller than a large metro's, so price the finished home to the neighborhood and allow realistic time on market. Deals under our $150,000 minimum loan size may not fit; larger renovations, higher-value neighborhoods and small 2-4 unit buildings often do.
This example is illustrative and not a quote. An investor buys a 1920s foursquare in Raleigh Court for $175,000 and plans a $65,000 renovation. The loan covers 85% of the purchase and 100% of the rehab, or $213,750, which is about 89% of total cost.
At closing the investor brings about $31,250: the 15% down payment plus about $5,000 in estimated closing costs. Once the rehab is fully drawn, the estimated interest-only payment is about $1,870 a month. Over 6 months, assuming the full loan is outstanding the whole time, interest is about $11,222, and taxes, insurance and utilities add about $3,300.
The house sells for $320,000. Selling costs of about 7% of the price, including commission and grantor tax, come to $22,400. The estimated profit before income taxes is about $38,078. Because rehab funds are drawn over time, actual interest is usually lower.
| Item | Amount |
|---|---|
| Purchase price | $175,000 |
| Rehab budget | $65,000 |
| Loan (85% of purchase + 100% of rehab) | $213,750 |
| Loan as share of total cost | About 89% |
| Cash at closing | $31,250 |
| Estimated monthly interest-only payment | $1,870 |
| Interest over 6 months | $11,222 |
| Taxes, insurance and utilities | $3,300 |
| Selling costs | $22,400 |
| Resale price | $320,000 |
| Estimated profit before income taxes | $38,078 |
Before you sign a term sheet, ask every lender the same questions so you can compare offers side by side:
Here is how LendingStreet answers: up to 90% of cost and up to 100% of rehab on some programs, draws released after inspections, closings in as little as 10 days, LLC borrowers welcome, loans from $150,000 to $5M+ with larger balances reviewed closely, and a DSCR refinance ready if you hold. For your own deal, use the form below for a quote.
Most Roanoke flips end in a sale. If the market shifts or the rent looks strong, you can instead refinance into a LendingStreet DSCR rental loan, which qualifies on the property's rent with no W-2s or tax returns. DSCR loans offer 30-year terms, a standard minimum DSCR of 1.0x, cash-out up to 75% LTV and rate-and-term up to 80% on some programs.
Send the address, purchase price, rehab budget and expected resale value, and we will size the loan around your plan. Use the form below for a quote, or call us at (877) 298-1001 to talk through the deal. Projects of 9+ units fall under our commercial programs instead.
Our top pick is LendingStreet. We offer up to 90% of cost and up to 100% of rehab on some programs, closings in as little as 10 days, loans from $150,000 to $5M+ and a DSCR refinance if you decide to hold. Compare any lender on leverage, speed, draws and exit options.
Yes. We lend throughout Roanoke and the rest of Virginia, and in all 50 states and DC, on non-owner-occupied 1-8 unit investment properties.
We can close in as little as 10 days. Timing depends on title, the valuation and how quickly you send the contract, rehab budget and entity documents.
Up to 90% of total cost, with up to 100% of the rehab funded on some programs. Rehab funds are released in draws after work is inspected.
Our flip loans start at $150,000. Many Roanoke projects reach that once the rehab budget is included, especially in neighborhoods like Raleigh Court or South Roanoke, or on a 2-4 unit building. Very small deals may not fit.
Yes. Salem is an independent city, and Roanoke County is a separate jurisdiction, so permits, inspections and tax bills differ from the City of Roanoke. Check the jurisdiction for each address.
Yes. You can refinance into a LendingStreet DSCR rental loan that qualifies on the property's rent, with 30-year terms available and LLC borrowers standard.
Pricing depends on the deal, your experience and the leverage you choose. The fastest way to see real terms is to use the form below for a quote, or call us at (877) 298-1001.
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