Northern Virginia's high-value rentals house a steady stream of executives, contractors, officers and diplomats. Along the coast and in the Piedmont, larger homes rent to vacationers and visitors. A large DSCR loan can finance both on the property's income.
In short: Yes. LendingStreet finances $1M+ Virginia rentals with DSCR loans that qualify on the property's rent, with no W-2s or tax returns. Loans start at $150,000 with no stated maximum, and larger balances are reviewed and priced case by case. In Northern Virginia, executive single-family homes and townhomes in McLean, Arlington, Alexandria and Loudoun County are the most common large-balance requests, and they usually qualify on long-term or furnished mid-term rent because local rules limit investor short-term rentals. At Virginia Beach and in Charlottesville wine country, vacation homes can qualify on projected revenue where local rules allow.
Northern Virginia's rental demand comes from the federal government and the businesses around it. Tenants include defense and technology contractors, senior federal employees, military officers assigned to the Pentagon, Fort Belvoir and Quantico, diplomats and international organization staff, and executives at the region's large corporate employers. Many arrive on two- or three-year assignments with housing allowances or relocation budgets.
That tenant base supports high rents for well-located homes, and it also supports furnished rentals of 30 days or more for people between assignments. Loudoun County's data center corridor around Ashburn has added another layer of professional renters.
Elsewhere, demand is more seasonal. Virginia Beach's oceanfront and Sandbridge draw summer vacationers, and Charlottesville draws visitors for the University of Virginia, weddings and wine country.
McLean, Great Falls and Vienna have large single-family homes on generous lots, often near major employers and embassies. Arlington neighborhoods along the Orange Line, such as Clarendon, Ballston and Lyon Village, have newer single-family homes, townhomes and luxury condos close to Washington. Alexandria's Old Town and Del Ray have historic rowhouses and townhomes.
Further out, Loudoun County communities in Ashburn, Leesburg and Brambleton have newer executive homes, many in HOA communities. Falls Church, Oakton and parts of Fairfax County also carry high-value single-family rentals.
This example is illustrative and not a quote. An investor buys a single-family home in the McLean area for $1,700,000 and leases it to a relocating executive at $10,000 a month. Property taxes are about $1,400 a month and insurance is about $300, for $1,700 combined.
At 70% LTV, the loan is $1,190,000 and the down payment is $510,000. At a sample rate of 7.125% on a 30-year fixed, principal and interest is about $8,017. The total payment is about $9,717, and DSCR is $10,000 divided by $9,717, or about 1.03x, just above the 1.0x standard minimum.
With so little room above 1.0x, a higher insurance quote or tax rate could push this deal below the minimum. Bringing more equity or choosing a home with a lower tax bill would give it more margin.
| Line item | Monthly amount |
|---|---|
| Lease rent | $10,000 |
| Principal and interest ($1,190,000 at 7.125%, 30-year) | About $8,017 |
| Property taxes | $1,400 |
| Insurance | $300 |
| Total payment | About $9,717 |
| DSCR | About 1.03x |
Arlington and Fairfax County allow short-term rentals mainly as an accessory use of the operator's own home, with registration or permit requirements. That generally rules out investor-owned nightly rentals in those jurisdictions. Confirm current rules with the county before you plan any short-term use.
Furnished rentals of 30 days or more are a different category and are common in Northern Virginia, where contractors, officers and diplomats often need housing for a few months. Some DSCR programs can consider mid-term rental income, and how it is documented and counted varies. Many investors qualify on long-term market rent and treat furnished stays as upside.
Annual leases remain the simplest basis for a large loan. A lease to a tenant with a housing allowance or corporate backing gives the appraiser a firm rent figure.
Virginia Beach allows short-term rentals in certain areas, including Sandbridge and some oceanfront overlay districts, with registration and, in many cases, a permit. Large oceanfront homes there can qualify on projected revenue through an STR DSCR loan, with rates from 6.49% for qualified borrowers. Check flood zone and insurance costs, since they go into the payment.
Around Charlottesville and in Albemarle County, larger homes rent to visitors for university events, weddings and wine country weekends. Local rules on short-term rentals apply, and some rural properties have their own zoning questions. Confirm with the county before you count on nightly income.
Many Northern Virginia rentals sit in HOA communities, especially in Loudoun and western Fairfax. Dues count in the payment, and some associations restrict leasing or require minimum lease terms. Read the governing documents before you sign.
Luxury condos in Arlington's Rosslyn-Ballston corridor and in Alexandria are reviewed as projects: budget, reserves, insurance, litigation and rental rules. Arlington's newer single-family builds may have no rental history, so the appraiser's market rent carries more weight.
Large Loudoun and Fairfax homes in planned communities may also be in special tax districts or carry community development fees. Ask for the full annual cost of ownership, since anything billed with the tax bill or the HOA counts in the payment.
Old Town Alexandria's brick rowhouses and townhomes are some of the most distinctive high-value rentals in the region. Many date to the 18th and 19th centuries and sit within a historic district where exterior changes generally need review and approval. That affects what you can renovate and how quickly.
Older homes also raise practical underwriting questions. The appraiser will note the condition of roofs, foundations, electrical and plumbing, and insurance on historic construction can cost more. Some rowhouses near the Potomac sit in flood zones, so check before you assume standard coverage.
On the income side, Old Town rowhouses tend to rent well to professionals who want walkable streets and a short commute into Washington. A long-term lease is the usual qualifying basis. Ask the city about any rental or short-term rental requirements that apply to the specific address.
Real estate tax rates are set by each county and city, and Northern Virginia jurisdictions differ. Use the actual rate for the property. Virginia localities also tax some personal property, which is an owner cost rather than part of the DSCR payment.
Virginia's landlord and tenant law sets rules for security deposits, notices and lease terms, and it has been updated several times in recent years. Confirm current requirements with a Virginia attorney, especially if you are buying a tenant-occupied home.
The ratio comes first, at a 1.0x standard minimum. Some programs accept a ratio below 1.0, often with lower leverage, and some offer no-ratio options. On large balances, these items carry extra weight.
Many Virginia investor loans fall between $500K and $1M. Common examples include townhomes and condos in Arlington, Alexandria and Reston, newer single-family homes and townhomes in Loudoun and Prince William counties around Ashburn, Leesburg and Manassas, renovated homes in Richmond's Fan District and Church Hill, and vacation homes and condos in Virginia Beach.
These loans often get leverage closer to the program maximums of 80% LTV on purchases and 75% on cash-out, with reserves that are often lighter than on $1M+ loans. Both vary by program, and the ratio still has to clear the 1.0x standard minimum.
HOA dues on Northern Virginia townhomes, local short-term rental registration rules and flood insurance near the Virginia Beach oceanfront still go into the file at this size.
DSCR rates start at 6.125% for well-qualified borrowers, and short-term rental DSCR starts at 6.49%. Larger balances are priced case by case. Purchases go up to 80% LTV and cash-out refinances up to 75%, but on large balances the maximum LTV is often lower and reserve requirements higher.
The minimum credit score is 620, with better pricing at higher scores. LLC borrowers are allowed, 30-year fixed options are available and no W-2s or tax returns are required. The financing team reviews your scenario and comes back with 2-3 options.
If you already own several Northern Virginia rentals, ask about combining five or more under a blanket portfolio loan with one closing and portfolio pricing. It qualifies on the portfolio's combined cash flow.
Yes. LendingStreet finances investment property in Virginia, including Northern Virginia executive homes, Arlington condos, Loudoun County new builds and Virginia Beach vacation homes above $1 million. Loans start at $150,000 with no stated maximum.
Some programs consider mid-term rental income, and how it is counted varies. Many investors qualify on long-term market rent and treat furnished stays as upside.
Generally not. Both allow short-term rentals mainly as an accessory use of the operator's own home. Confirm current rules with the county.
Possibly, if it is in an area where Virginia Beach allows short-term rentals and it meets registration and permit rules. STR DSCR rates start at 6.49% for qualified borrowers.
The loan qualifies on the rent, not the tenant's income. A signed lease at market rent helps the appraiser support the figure, whoever the tenant is.
Purchases go up to 80% LTV, but on large balances the maximum is often lower and varies by program. The ratio may also require more equity, so run the numbers first.
Not necessarily, but condition, insurance and flood zone questions come up more often on older homes. Historic district rules also limit exterior changes, which matters if you plan renovations.
Yes. Cash-out refinances go up to 75% LTV, and the rent must cover the new payment at the program minimum. Seasoning varies by program.
No. LendingStreet finances non-owner-occupied investment property only, for business purposes.
Yes. DSCR loans start at $150,000 with no stated maximum, and $500K to $1M loans are common for Northern Virginia townhomes and condos, Loudoun and Prince William single-family homes, Richmond rentals and Virginia Beach vacation homes.
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