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Hard Money Loans for a Primary Residence in Virginia

What Virginia investors should know, with county data and city pages.

Hard money loans on a primary residence in Virginia are rare, and for good reason. Most short-term lenders only lend on investment property, and any loan on a home you live in is a consumer loan that requires the lender to make a reasonable, good-faith determination of your ability to repay. Before you consider one, compare safer choices with a licensed loan officer and read every disclosure. The city pages below add local housing data and questions to ask.

Questions about hard money loans for a primary residence in Virginia?

Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.

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Virginia contractor licensing: Board for Contractors. DPOR's Board for Contractors licenses Virginia contractors, and DPOR's License Lookup lets you check a contractor's license. Lenders funding renovation work often ask for the contractor's license and bid.

Where the numbers point in Virginia

Counties with the most owner-occupied homes built before 1960:

CountyOwner-occupied homes built before 1960
the City of Richmond65.4%
the City of Covington63.2%
the City of Lexington63.1%
the City of Roanoke58.6%
the City of Norfolk58.0%
the City of Martinsville54.6%
the City of Charlottesville51.2%
the City of Norton51.0%
Arlington County50.3%
the City of Emporia50.2%
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Prefer to talk first? Call (888) 865-8230. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.

Hard Money Loans for a Primary Residence by city in Virginia

Common questions

Can I get a hard money loan on my primary residence in Virginia?

It is possible but uncommon. Most hard money lenders only make business-purpose loans on investment property. A lender that does lend on a home you live in is making a consumer loan and must decide, reasonably and in good faith, that you can repay. Ask a licensed loan officer about safer alternatives first, and treat any offer that skips a review of your finances with caution.

What are the risks of a short-term loan secured by my home?

The biggest risk is losing your home. Short-term loans often end with a large balance due, and if you cannot sell or refinance in time you may face extension fees, default or foreclosure. Costs are also higher than on a standard mortgage. Review every charge, ask what happens if your plan is delayed, and get independent advice if you are unsure.

How do I check whether a lender in Virginia is legitimate?

Look up the company and the loan officer on NMLS Consumer Access, which shows licenses by state. You can also check with the Virginia agency that regulates mortgage lenders. Be cautious with lenders who pressure you to sign quickly, ask for large upfront fees before reviewing your file, or will not put terms in writing.

Other investor loans in Virginia

DSCR loansDSCR requirementsDSCR down paymentAirbnb / STR loansHard money lendersFix and flip loansInvestor bridge loansPortfolio lendersBlanket mortgagesInvestment property loansHELOC on a rentalInvestor cash-out refiSecond home loansInterest-only investor loansPrivate money lenders

Related guides

Hard Money Loans for a Primary Residence overview · Virginia investor loan overview

  • Census ACS 2020-2024, table B25036
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