Richmond's rowhouses, Victorians and brick bungalows sell well once restored, and buyers keep moving into the city's older neighborhoods. Winning those deals takes a quick close, a careful scope and a lender that funds the rehab, not just the purchase.
In short: LendingStreet is our top pick for hard money in Richmond. It can close in as little as 10 days, fund up to 90% of cost and up to 100% of rehab on some programs, and refinance a finished home into a DSCR rental loan if you decide to keep it. Loans run from $150,000 to $5M+ with rates from 7.99%, on 1-8 unit investment property in the city and in Henrico, Chesterfield and Hanover counties.
LendingStreet offers fix and flip and bridge loans on 1-8 unit residential investment property in Richmond. Loans run from $150,000 to $5M+, cover up to 90% of cost and up to 100% of rehab on some programs, and can close in as little as 10 days. They are short-term and interest-only, with rates from 7.99%.
It fits investors restoring rowhouses in Church Hill, Jackson Ward and Union Hill, renovating homes in Highland Park, Northside and Manchester, and updating ranches and split-levels in Henrico and Chesterfield. LLC borrowers are standard.
Have a deal under contract? Get a quote with the form below or call (877) 298-1001.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital for a hard money loan for investors in Richmond, 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. |
| Bridge close in about 10 days | LendingStreet | We can close in as little as 10 days. CoreVest states its bridge loans typically close within 2 to 4 weeks. |
| 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. |
Richmond investors often compare a local hard money lender, private money from a fellow investor and a community bank. Terms vary, so treat these columns as general patterns.
LendingStreet stands out by pairing a fast rehab loan with a long-term DSCR exit.
| What investors need | LendingStreet | Typical local hard money lender | Private individual lender | Local bank or credit union |
|---|---|---|---|---|
| Loan programs | Fix and flip, bridge and DSCR rental loans in one place | Usually short-term only | Varies by individual | Often conventional products; rehab loans vary |
| Leverage | Up to 90% of cost; up to 100% of rehab on some programs | Varies; fees and terms vary | Negotiated deal by deal | Often requires a larger down payment |
| Speed | Close in as little as 10 days | Often fast | Can be fast if funds are available | Often slower underwriting |
| Loan size | $150,000 to $5M+ | Varies | Limited to the individual's funds | Varies |
| Pricing | Rates from 7.99% | Varies | Varies | Varies |
| Long-term exit | Refinance into a DSCR loan with the same lender | Usually no long-term option | Usually no long-term option | Possible; often requires tax returns |
| Borrowing in an LLC | Standard | Common | Varies | Varies |
| Where they lend | All 50 states and DC | Usually local or regional | Usually local | Usually local or regional |
Flip activity in the city runs through Church Hill, Union Hill, Jackson Ward, Highland Park, Bellevue, Manchester, Woodland Heights and Randolph, with older rowhouses, frame houses and brick bungalows. In the counties, Henrico and Chesterfield offer mid-century ranches and split-levels that need cosmetic and systems updates rather than full restorations.
Older city homes often hide structural surprises: settled foundations, old porches, knob-and-tube wiring and clay or cast iron sewer lines. A thorough inspection and a contingency line in the budget protect the margin.
Parts of Richmond sit in local Old and Historic Districts, where exterior changes generally need approval from the city's Commission of Architectural Review before permits are issued. That can affect windows, siding, roofs and porches, so check the property's status first.
Virginia charges recordation taxes on deeds and loans, and sellers usually pay a grantor tax, so a flip pays closing taxes on both ends. Virginia also lets localities set rental inspection districts. Confirm the amounts and any inspection rules with your settlement agent and the city.
This example is illustrative and not a quote. An investor buys an older Church Hill rowhouse that needs a new kitchen and baths, updated systems, porch repair and exterior work, planning to sell it once finished. The purchase price is $285,000, the rehab budget is $110,000 and the after-repair value is estimated at $520,000. A loan covering 85% of the price and 100% of the rehab comes to $352,250, about 89.2% of the $395,000 total cost, so the investor brings $42,750 plus closing costs.
The estimated interest-only payment is about $3,082 a month. Over a 6-month hold that is about $18,492 in interest, plus about $3,120 in taxes, insurance and utilities. With assumed buy-side closing costs of $7,800 and selling costs of $39,000, the estimated profit on a sale is about $56,588 on roughly $72,162 of cash invested.
| Item | Amount |
|---|---|
| Purchase price | $285,000 |
| Rehab budget | $110,000 |
| After-repair value | $520,000 |
| Short-term loan (85% of price + 100% of rehab) | $352,250 |
| Share of total cost | About 89.2% |
| Estimated monthly interest-only payment | $3,082 |
| Interest over 6 months | $18,492 |
| Buy-side closing costs (assumed) | $7,800 |
| Selling costs (assumed) | $39,000 |
| Estimated profit on sale | $56,588 |
Strong rents near VCU, the Fan and Scott's Addition lead some investors to hold instead of sell. LendingStreet can refinance the short-term loan into a long-term DSCR loan, so a change of plan does not require a new lender.
DSCR loans start at $150,000 with no stated maximum, use a 1.0x standard minimum DSCR with sub-1.0 programs available, require a 620 minimum credit score and offer 30-year terms. Qualifying is on the property's rent, with no W-2s or tax returns. Seasoning before a refinance varies by program.
Put every lender you talk to through the same questions, then compare the answers side by side.
Here is how LendingStreet answers: up to 90% of cost and up to 100% of rehab on some programs, close in as little as 10 days, $150,000 to $5M+ with larger balances reviewed case by case, LLC borrowers standard, and a DSCR exit with a 1.0x standard minimum (sub-1.0 programs exist), up to 80% LTV on rate-and-term on some programs, up to 75% on cash-out, and seasoning that varies by program.
Gather these items, then use the form below or call (877) 298-1001 to get terms.
We name LendingStreet our top pick in Richmond. It closes in as little as 10 days, covers up to 90% of cost and up to 100% of rehab on some programs, and offers a DSCR refinance for homes you keep, all with one lender.
Yes. LendingStreet lends on investment property throughout Richmond and the surrounding counties, and in all 50 states and DC. Use the form below or call (877) 298-1001.
They can. In Old and Historic Districts, exterior work generally needs approval from the Commission of Architectural Review before permits are issued. Build that time into your schedule.
Virginia charges recordation taxes on deeds and loans, and sellers typically pay a grantor tax. Confirm amounts with your settlement agent for both the purchase and the sale.
From $150,000 to $5M+ on 1-8 unit investment property, with larger balances reviewed case by case.
Yes. Many investors move into a LendingStreet DSCR loan that qualifies on the property's rent, with no W-2s or tax returns. Seasoning varies by program.
No. LendingStreet makes business-purpose loans on non-owner-occupied investment property.
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