West Virginia is a lower-cost rehab state where many investors buy, renovate and rent. Morgantown's student market, the fast-growing Eastern Panhandle near the D.C. commuter belt, and the Kanawha and Ohio River valleys each work a little differently.
In short: LendingStreet is our top pick for West Virginia investors comparing hard money lenders. We lend $150,000 to $5M+ on 1-8 unit investment property, up to 90% of cost and up to 100% of rehab on some programs, with closings in as little as 10 days and rates from 7.99%. Because so many West Virginia projects become rentals, our DSCR loan, qualified on the rent, is a natural next step.
In much of West Virginia, the best returns come from holding. LendingStreet funds the purchase and rehab and then refinances into a 30-year DSCR loan, so you are not hunting for a new lender at the end.
Ready to buy? 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 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 |
|---|---|---|
| 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. |
Community banks and private lenders do much of West Virginia's rehab lending. Here is how they usually compare with LendingStreet.
| Investor need | LendingStreet | Local hard money | Private lender | Local bank |
|---|---|---|---|---|
| Close quickly on a good deal | As little as 10 days | Often fast | Fast if funds are ready | Often slow |
| Fund the rehab | Up to 100% of rehab on some programs | Varies | Negotiated deal by deal | Often limited |
| Leverage on total cost | Up to 90% LTC on some programs | Varies | Varies | Often lower |
| Larger projects | $150,000 to $5M+ | Varies | Limited by one person's funds | Varies |
| Keep it as a rental | DSCR refinance with 30-year terms available | Usually short-term only | Usually short-term only | Often requires tax returns |
| Borrow in an LLC | Standard | Usually | Varies | Varies |
| A clear rental exit | DSCR loan qualified on rent | Usually short-term only | Usually short-term only | Tax returns usually required |
Morgantown, home to West Virginia University, has strong rental demand for houses and small multi-unit buildings near campus. The Eastern Panhandle, including Martinsburg, Charles Town and Ranson, draws commuters into the Washington, D.C. area and has higher prices.
Charleston, Huntington, Parkersburg, Wheeling, Beckley and Fairmont offer lower prices and older housing. Our loans start at $150,000, so in the lowest-priced towns a single small house may fall below the minimum, while duplexes and larger rehabs often fit.
West Virginia charges a state excise tax on deed transfers, and counties add their own, customarily paid by the seller. Property taxes are low compared with many states. Confirm the figures with your closing attorney or title company.
Most foreclosures are nonjudicial trustee sales under a deed of trust, held after published notice. Research title, back taxes and liens carefully, since older properties can carry unresolved issues.
West Virginia requires a state contractor license from the Division of Labor for most jobs above a modest dollar amount, and electrical and plumbing work need licensed trades. Many cities enforce building codes and issue permits, while some rural counties have limited code enforcement.
Many towns sit in river valleys with flood history. Check the FEMA flood map, ask about past water in the basement and get a flood insurance quote before you finalize the budget.
This example is illustrative and not a quote. An investor buys an older duplex near campus in Morgantown for $125,000 and spends $60,000 on electrical, plumbing, a furnace, kitchens, baths and flooring. Total cost is $185,000. The rehab loan at 90% of cost is $166,000, and the estimated interest-only payment is about $1,452 a month, or $7,260 over 5 months.
With the work done, the property appraises at $250,000 and the two units lease to students and young professionals for $2,200 a month combined. A DSCR cash-out refinance at 75% LTV is $187,000. Estimated principal and interest is about $1,308 a month. Add $170 for taxes and $125 for insurance and the payment is about $1,603, for a DSCR of about 1.37x, above the 1.0x standard minimum.
The refinance repays the $166,000 rehab loan and, after about $5,000 in refinance closing costs, returns about $16,000. The investor put in about $32,460 (cost share, interest, $2,000 in holding costs and $4,200 to close the purchase), so about $16,460 stays in a stabilized rental. Low West Virginia taxes help the ratio.
| Item | Amount |
|---|---|
| Purchase price | $125,000 |
| Rehab budget | $60,000 |
| Rehab loan at 90% of cost | $166,000 |
| Estimated interest-only payment | $1,452 a month |
| Appraised value after rehab | $250,000 |
| Monthly rent | $2,200 |
| DSCR loan at 75% LTV | $187,000 |
| Estimated principal and interest | $1,308 |
| Taxes and insurance | $295 |
| Total monthly payment | $1,603 |
| DSCR | About 1.37x |
| Cash back at refinance | $16,000 |
| Cash left in the deal | $16,460 |
Lower purchase prices and modest property taxes mean rent often covers the payment comfortably, which is why so many West Virginia rehabs become long-term rentals. Student housing in Morgantown, hospital and state government jobs in Charleston, and commuters in the Eastern Panhandle all support demand.
A DSCR loan qualifies on the lease, with no W-2s or tax returns, a 1.0x standard minimum and 30-year terms available. Seasoning before a cash-out varies by program, so ask about it before you buy if you plan to pull cash out after the rehab.
Ask each lender the same questions so you can compare the full path, from purchase to rental.
Here is where LendingStreet lands on each: up to 90% LTC with up to 100% of rehab on some programs, as little as 10 days to close, LLC borrowing as standard, $150,000 to $5M+ in size, and a DSCR refinance at a 1.0x standard minimum with 620 credit, up to 75% LTV cash-out or 80% rate-and-term on some programs and program-based seasoning. Reach us at (877) 298-1001.
Tell us the address, purchase price, rehab scope and closing deadline, plus expected rent if a hold is possible. The quote form is just below, or reach us at (877) 298-1001.
We think LendingStreet is the strongest fit for West Virginia investors who want speed and leverage without a dead end: closings in as little as 10 days, up to 100% of rehab on some programs, rates from 7.99% and a DSCR refinance under the same roof.
Yes. LendingStreet lends in all 50 states and DC, including West Virginia, on non-owner-occupied 1-8 unit investment property. Get a quote with the form below.
The state and county excise taxes on deed transfers are customarily paid by the seller. Confirm amounts with your closing attorney or title company.
Only if the loan reaches our $150,000 minimum. Many low-priced single homes do not, but duplexes, larger homes and multi-unit buildings often do.
Most do. The state Division of Labor licenses contractors for jobs above a modest dollar amount, and electrical and plumbing work need licensed trades.
You can refinance into a DSCR loan qualified on the rent, with no W-2s or tax returns, LLC borrowers as standard and 30-year terms available. Seasoning varies by program.
No. Every LendingStreet loan is a business-purpose loan on non-owner-occupied investment property.
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