West Virginia home prices are among the lowest in the country, so a $1M+ bridge loan here almost never buys a single house. It buys a group of student rentals near WVU, a set of Eastern Panhandle homes, or several plexes in Charleston or Huntington.
In short: LendingStreet makes residential investor bridge loans from $1M to $5M+ on 1-8 unit West Virginia property, with rates from 7.99%, interest-only payments and closings in as little as 10 days on a complete file. In this state, large balances usually finance several properties at once. Larger balances usually need a full valuation, and exits are a sale or a DSCR or blanket refinance.
Morgantown is the student housing market, with houses and plexes near West Virginia University in Sunnyside, South Park and Evansdale. The Eastern Panhandle (Martinsburg, Charles Town, Ranson, Shepherdstown) draws commuters to the Washington and Baltimore regions and has newer homes.
Charleston, Huntington (Marshall University), Parkersburg and Wheeling offer older rentals at low prices. Fayetteville near New River Gorge National Park and Snowshoe add tourism and short-term rental demand. Because prices in most of the state are low, the $150,000 program minimum is rarely an issue on a large loan, but it is a reason to combine lower-priced homes into one package.
Student housing portfolios and Eastern Panhandle rentals often sell as groups. A bridge loan closes on the package quickly, then funds repairs and lease-up before refinancing.
West Virginia charges a state and county excise tax on deeds, customarily paid by the seller. Ask your title company for the combined amount on your purchase.
Property tax is low overall, but West Virginia taxes owner-occupied homes in a lower class than rentals. Non-owner-occupied residential property, taxed as Class III outside cities and Class IV inside them, generally pays about twice the owner-occupied rate. Budget on that higher class. Rates also vary by county and by whether the property sits inside city limits, so check the levy for each address in a package.
This example is illustrative and not a quote. An investor buys five student houses near WVU for $1,250,000 in the spring, with closing timed before summer turnover. Taxes are budgeted at the non-owner class.
For this example, the bridge is $938,000, or 75% of the price. The estimated interest-only payment comes to about $7,817 a month, so a 4-month hold costs about $31,267 in interest before the refinance.
When the bridge matures, the value is $1,320,000. Refinancing at 75% LTV gives a $990,000 DSCR loan. Estimated principal and interest is about $6,754; with taxes of $1,430, insurance of $600 and $0 of other costs, the monthly payment is about $8,784. Rent of $12,000 puts DSCR at about 1.37x.
With fall leases signed, the five houses clear 1.0x comfortably. The $990,000 refinance repays the $938,000 bridge and returns about $52,000.
| Item | Amount |
|---|---|
| Purchase price | $1,250,000 |
| Bridge loan (75% of price) | $938,000 |
| Estimated monthly interest-only payment | $7,817 |
| Interest carry over 4 months | $31,267 |
| Value at refinance | $1,320,000 |
| Blanket or DSCR refinance at 75% LTV | $990,000 |
| Estimated principal and interest | $6,754 |
| Taxes, insurance and other monthly costs | $2,030 |
| Total monthly payment | $8,784 |
| Monthly rent | $12,000 |
| DSCR | 1.37x |
Low prices and steady rents mean many West Virginia packages clear a 1.0x DSCR on long-term leases. Morgantown student rentals often lease by the bedroom, so lease terms and turnover timing matter at refinance. Eastern Panhandle homes lease to commuting households on standard 12-month terms.
Five or more properties can refinance into a blanket portfolio loan. Because the DSCR program starts at $150,000, combining low-priced homes into one loan is often the practical exit.
Our residential investor bridge program runs from $150,000 to $5M+, and this page covers the upper end: roughly $1M and up on 1-8 unit property in West Virginia. Rates start from 7.99%, payments are interest-only, terms are short, and a complete file can close in as little as 10 days.
Balances above $1M are reviewed case by case. Expect a full valuation of each property on these larger loans, along with a clear exit plan: a sale, or a refinance into a DSCR or jumbo DSCR loan.
| Feature | Large residential bridge |
|---|---|
| Loan size | $1M to $5M+ (program from $150,000) |
| Rates | From 7.99% |
| Payments | Interest-only |
| Speed | As little as 10 days on a complete file |
| Valuation | Full valuation usually required on larger balances |
| Property | 1-8 unit non-owner-occupied investment property |
| Exit | Sale, DSCR or jumbo DSCR refinance |
Morgantown rentals turn over on the academic calendar, so time the refinance after leases are signed. Older homes in Charleston, Huntington and Wheeling can have foundation, roof and electrical issues. Many river towns have mapped flood zones, and flooding is a recurring risk in parts of the state.
Fayetteville and other tourism towns have their own STR rules, so check them before counting nightly income. Snowshoe and other ski-area condos often have HOA rental programs with their own fees and rules, which also count in the exit math.
Our investor loans are business-purpose loans on non-owner-occupied property, made to LLCs and other entities as well as individuals. A short summary of the deal, plus the items below, is enough to get a quote started. Use the form below or call (877) 298-1001.
On a multi-property West Virginia request, a simple spreadsheet with each address, unit count, rent, taxes and insurance saves days. The team can then show how the bridge and the exit loan size at two or three leverage levels, so you can pick the structure before you sign.
The seller customarily pays the state and county excise tax. Confirm the amount with your title company.
Non-owner-occupied residential property is taxed in a higher class than owner-occupied homes, generally about twice the rate.
Yes. Time the refinance after leases are signed, since student housing turns over on the academic calendar.
No. Our investor loans are business-purpose loans on non-owner-occupied property only. The properties must be held as investments.
Rates start from 7.99%. Larger balances are priced case by case, with leverage, property type and the strength of the exit all considered.
In as little as 10 days when title, valuation and entity documents are ready. Larger balances add review time, so start the valuation as soon as the contract is signed.
Yes, when it covers several properties. In this state, large loans are usually packages.
Five or more properties can refinance into a blanket portfolio loan.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.