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Hard money and fix and flip loans in Alexandria, VA
Financing for historic rowhouses in Old Town, renovations in Del Ray and rentals across Alexandria.
The Alexandria market for investors
Alexandria is an independent city on the Potomac, from the eighteenth-century rowhouses of Old Town to the bungalows of Del Ray and the garden apartments of the West End. Potomac Yard has added a Metro station and a university campus to the north of the city.
Investors renovate older homes for resale, buy rowhouses and townhouses to rent, and update the many mid-century homes and condos in the West End.
Areas investors ask about
- Old Town: historic rowhouses where exterior work needs Board of Architectural Review approval
- Del Ray and Rosemont: bungalows and four-squares to renovate
- Potomac Yard: newer townhouses and condos near the Metro
- West End and Seminary Hill: mid-century homes, townhouses and condos at lower prices
Plan for these on a Alexandria deal
- Exterior changes in Old Town and the Parker-Gray district need historic review before work starts. Allow time for it in the schedule.
- Parts of Old Town near the waterfront are in flood zones. Check the FEMA flood zone before you make an offer. Where flood insurance is required, the premium is part of the payment.
- Northern Virginia jurisdictions regulate short-term rentals closely, and several limit them to a host’s primary residence. Underwrite on long-term rent unless the address may legally host short stays.
Loans available in Alexandria
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of long-term rentals, rowhouses, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home, an infill rowhouse or a rental from the ground up, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Alexandria hard money loans: common questions
Yes. Plan for historic review of exterior work, and choose a loan term long enough to cover it.
Yes. We lend up to 85% loan-to-value on a rental purchase and 80% on a cash-out refinance, qualified on the rent.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. Closings are handled by a title company or settlement attorney.
Looking at a property in Alexandria?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.