West Virginia property is affordable, so a $1.5M+ DSCR loan here is unusual. When one comes up, it is almost always a student building in Morgantown, a group of rentals, or resort property near Snowshoe or the Eastern Panhandle.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ on West Virginia rentals with 1 to 8 units, qualified on rent with no W-2s or tax returns. Investor property is taxed in a higher class than owner-occupied homes, and flood exposure in river valleys can raise insurance. Max LTV on larger loans varies by program, and most files at this size are buildings or portfolios.
Morgantown, home to West Virginia University, has the state's strongest small-building rental market, with student houses and 5 to 8 unit buildings in Sunnyside, South Park and near the Evansdale campus. The Eastern Panhandle, including Harpers Ferry, Shepherdstown and Martinsburg in Jefferson and Berkeley counties, has larger homes leased to Washington-area commuters.
Snowshoe Mountain and Canaan Valley have ski homes and condos, the New River Gorge area around Fayetteville draws outdoor visitors, and the Lewisburg and White Sulphur Springs area has resort demand. Charleston and Huntington have stable but lower-value rental markets.
Jefferson and Berkeley counties have grown as Washington-area workers moved west for lower prices, and some commute by MARC train from Martinsburg and Harpers Ferry. That has supported larger rentals there. Snowshoe and Canaan Valley draw skiers from Pittsburgh, Washington and Ohio, and the New River Gorge's national park status has raised its visitor profile.
| Area | Typical high-value property | What to check |
|---|---|---|
| Sunnyside, South Park, Evansdale (Morgantown) | Student buildings, 5-8 units | Lease cycle, occupancy limits, parking |
| Harpers Ferry, Shepherdstown, Martinsburg | Larger homes | Commuter demand, flood map near rivers |
| Snowshoe, Canaan Valley, Fayetteville | Ski and outdoor rentals | Seasonality, access roads, county rules |
West Virginia assesses property at a 60% assessment ratio, and owner-occupied homes fall in Class II with the lowest levy. Rentals are taxed as Class III outside cities or Class IV inside them, at roughly double the Class II levy. When you buy from an owner-occupant, budget on the investor class.
Flooding is the other West Virginia factor. Many towns sit in narrow river valleys, and flash floods have caused serious damage in recent years. Check the FEMA map for every property; flood insurance is required in mapped zones and its premium counts in the payment.
Student rentals in Morgantown have their own pattern. Many units lease by the bedroom on academic-year schedules, often signed months in advance, and the city has occupancy and rental registration rules. Lenders look at lease history across several school years, unit condition and parking. A rent roll showing each bedroom's lease and term makes the file faster to review.
This example is illustrative and not a quote. An investor buys an eight-unit building near the WVU campus for $1,950,000, leased by the bedroom for total rent of $14,600 a month. Taxes at the investor class are budgeted at $1,900 a month and insurance at $650. The comparison below shows how the ratio moves between two leverage levels, using estimated principal and interest on a 30-year schedule.
At 75% LTV the loan is $1,462,500, estimated principal and interest is about $9,853, the total payment is about $12,403 and DSCR is about 1.18x. At 70% the loan is $1,365,000, the payment is about $11,746 and DSCR is about 1.24x. Both columns clear the 1.0x standard minimum with room to spare. On 5-8 unit buildings, max LTV is often lower than on a single home and varies by program, so the 70% column may be the realistic one.
| Item | 75% LTV | 70% LTV |
|---|---|---|
| Purchase price | $1,950,000 | $1,950,000 |
| Loan amount | $1,462,500 | $1,365,000 |
| Down payment | $487,500 | $585,000 |
| Estimated principal and interest | $9,853 | $9,196 |
| Taxes and insurance | $2,550 | $2,550 |
| Total monthly payment | $12,403 | $11,746 |
| Monthly rent | $14,600 | $14,600 |
| DSCR | About 1.18x | About 1.24x |
Snowshoe, Canaan Valley and the New River Gorge area have active vacation rental markets, and West Virginia applies state sales tax and local hotel occupancy taxes to short stays. Counties and towns set their own rules, and resort HOAs often have rental programs or restrictions.
Some programs can qualify on projected STR revenue, but income is seasonal. Confirm local rules before relying on nightly income.
Many West Virginia investors own a number of modestly priced rentals rather than one large property. A blanket portfolio loan can combine five or more under one loan with one closing and one payment, qualified on combined cash flow.
Some programs can include properties in Pennsylvania, Maryland or Virginia. Buildings of 9 or more units go to our commercial programs.
A jumbo DSCR loan still qualifies on the property, not your tax returns. The lender divides rent by principal, interest, taxes, insurance and HOA dues and generally looks for 1.0x or better, with sub-1.0 programs for some files.
Bigger balances bring more scrutiny: leverage is often lower than the program maximums, more months of reserves are usually required and value may be checked with a second appraisal. Terms on large loans are reviewed one file at a time and vary by program.
West Virginia charges an excise tax on deeds, with a state portion and a county portion, customarily paid by the seller. Title insurance, recording fees and lender costs apply separately.
A complete file gets a faster answer on a large loan.
Our investor loans are business-purpose loans on non-owner-occupied property. LendingStreet finances jumbo DSCR loans across West Virginia, including Monongalia, Jefferson, Berkeley, Pocahontas and Greenbrier counties.
To start, send the address, price, rent and preferred leverage. We will check the ratio against the real tax and insurance figures and return two or three structures. Get a quote with the form below or call (877) 298-1001.
Yes. Owner-occupied homes are Class II; rentals are Class III or IV at roughly double the levy. Budget on the investor class.
It is rare. Most loans of $1.5M or more here are student buildings, resort property or portfolios.
Yes, if it is non-owner-occupied investment property and local and HOA rules allow rentals. Some programs qualify on projected STR revenue.
If the property is in a mapped flood zone, yes. Many river-valley towns have flood exposure, so check every address.
No. It qualifies on the rent compared with the full payment. Credit, reserves and the property itself still matter.
Sub-1.0 DSCR programs exist for some files, usually with lower leverage or more reserves. Bringing more cash to lower the loan is the other option.
Yes. LLC borrowers are standard, and you sign for the loan personally on most programs.
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