Are you looking to invest in lucrative Virginia deals? Do Hard Money can provide direct funding and help you get a hard money loan quickly for your next real estate investing deal or refinance property in the Old Dominion State.
Do Hard Money will approve your asset-based loan completely by assessing the property not you as the borrower. A true hard money lender will base your loan approval on the investment property and the overall quality of the deal. Once we’ve evaluated the property, the LTV (loan to value) ratio of the deal will determine your loan amount. This loan amount, combined with our gap funding resources, can make it possible for you to get 100% Financing on your deal.
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Due to excellent market conditions, we are able to offer state-specific loan terms for the state of Virginia.
Market Statistics (2015)
Virginia is one of the most beautiful states on the east coast, home to the Blue Ridge Mountains and the Chesapeake Bay. One of the original thirteen colonies, Virginia is rich with historic sites and gorgeous natural landmarks. As a result, the real estate market in Virginia has remained solid throughout the years, with home values increasing by 2.2% and home flips rising by 2% in the past year. Currently, the market is starting to slow down, which means great news for investors looking for properties to purchase at a lower cost. You’ll be able to find fantastic deals and resell the property for an excellent return on your investment as the market heads back on the upward swing. According to Washingtonpost.com, “The average sales price of homes throughout Northern Virginia remain much higher than the national average.”
Number of Houses Flipped
% Change in Houses Flipped
About Hard Money Loans in Virginia
Hard money loans are also called private money loans or bridge loans. All three terms refer to the same type of loan. The money from Virginia hard money loans comes from private investors (hence the “private money” term).
For real estate investment properties in Virginia, we will lend up to 65% of the after repair value (ARV) of the subject property. This percentage represents what is called the loan to value ratio. We also have gap financing options for Virginia if you need 100% financing on your deal.
Basing loan amounts on the after repair value of an investment property is just one of the things that makes hard money lenders different from traditional lenders who will only lend on the “as is” value of a property. As you can image, getting loans only on the as-is value of a property would make certain types of investing difficult or impossible, such as with flipping houses.
In addition to lending on the ARV of the property, we will not check your credit score or other financials to approve your loan. This makes your loan approval much faster and simpler than with a traditional lender.
DoHardMoney accepts hard money loan applications for residential loans and home refinance loans. The majority of our loans tend to be rehab loans for real estate investors.
Real Estate Investing in Virginia
For the last several years, Virginia has had more real estate investment hot spots than it has sites of Civil War battles (and that’s really saying something). It continues to be one of the best places for real estate investing in the country.
We are ready to offer Virginia hard money loans for real estate investment deals in the following high profit Virginia cities and counties:
Alexandria, Annandale, Arlington, Baileys Crossroads, Blacksburg, Bon Air, Botetourt County, Bristol, Bull Run, Burke, Cave Spring, Centreville, Chantilly, Charlottesville, Chesapeake, Chester, Chesterfield Country, Christiansburg, Colonial Heights, Covington, Culpeper, Dale City, Danville, East Highland Park, Fairfax, Falls Church, Fort Hunt, Franconia, Franklin, Fredericksburg, Frederick Country, Front Royal, Glen Allen, Gloucester Point, Great Falls, Groveton, Hampton, Hampton County, Harrisonburg, Herndon, Highland Springs, Hollins, Hopewell, Huntington, Hybla Valley, Idylwood, Jamestown district, Jefferson, Lake Barcroft, Lake Ridge, Lakeside, Laurel, Leesburg, Lexington, Lincolnia, Lorton, Lynchburg, Madison Heights, Manassas, Martinsville, McLean, Mechanicsville, Merrifield, Montclair, Montrose, Mount Vernon, Newington, Newport News, Norfolk, North Springfield, Oakton, Orange County, Petersburg, Pimmit Hills, Poquoson, Portsmouth, Prince William Country, Pulaski, Quantico Station, Radford, Reston, Richmond, Roanoke, Rose Hill, Salem, Seven Corners, South Franklin County, Springfield, Spotsylvania County, Staunton, Stuarts Draft, Suffolk, Timberlake, Tuckahoe, Tysons Corner, Vienna, Vinton, Virginia Beach, Virginia Beach County, Warrenton, Waynesboro, West Gate, West Springfield, Williamsburg, Winchester, Wolf Trap, Woodbridge, Wyndham, Wytheville, Yorkshire, and many more.
What a list! Not many states in the nation compare to Virginia when it comes to opportunities to flip houses. Virginia may be called “The Birthplace of the Nation”, but if you choose to invest there, you’ll be calling it “The Birthplace of Your REI Success.”