Question 1

How fast can a hard money loan close in Virginia?

Accepted Answer

Most hard money loans close in 7–21 business days. Repeat borrowers with demonstrated experience often close on the faster end. Rush closings in 5–10 days are available in some circumstances.

Question 2

Do hard money lenders in Virginia check credit?

Accepted Answer

Credit is reviewed but is not the primary underwriting factor. Most programs have a minimum around 640 FICO. Strong property fundamentals, a clear exit strategy, and adequate equity can offset thin or imperfect credit.

Question 3

What is the maximum LTV on a Virginia hard money loan?

Accepted Answer

Up to 70–75% of After Repair Value (ARV) for fix-and-flip deals. For purchase + renovation structures, up to 85–90% of total project cost. Loans on stabilized properties typically go to 65–70% of current appraised value.

Question 4

Can I use hard money financing for a commercial property in Virginia?

Accepted Answer

Yes. Hard money loans are available on commercial, multi-family (5+), mixed-use, and 1–4 unit residential investment properties. Minimums and LTVs vary by property type.

Question 5

How does foreclosure work on a hard money loan in Virginia?

Accepted Answer

Virginia uses non-judicial foreclosure under a deed of trust’s power of sale, Va. Code §§55.1-320 through 55.1-322. Notice is published weekly for two to four weeks depending on the deed’s terms, and the full process typically runs about 150 to 180 days from first missed payment to sale. There is no post-sale redemption right under the standard non-judicial method. The 60-day pre-sale notice requirement in §55.1-321 applies to owner-occupied residential property, not to investment collateral. Verified as of September 2026.

Question 6

Is there an interest rate cap on a Virginia investment property loan?

Accepted Answer

No, for business-purpose loans. Virginia’s general usury cap of 12% appears in Va. Code §6.2-303, but §6.2-317 exempts loans of $5,000 or more made for business or investment purposes from any rate ceiling. Real estate held for investment does not qualify as “personal use,” so a bridge or hard money loan on an investment property falls outside the cap entirely. This is one reason Virginia’s terms are competitive relative to states that apply consumer rate limits more broadly. Verified as of September 2026.

Feature	Typical Range
Loan amounts	$100,000 – $5,000,000+
LTV	Up to 70–75% ARV; up to 90% of purchase + rehab
Term	6–24 months
Close time	7–21 business days
Income docs	Not required — asset-based underwriting
Pre-payment	None on most programs

Virginia Hard Money Loans