VA · Richmond
Bridge, Flip & Construction
Loans in Richmond, VA
Bridge, fix & flip, construction, renovation and DSCR loans for residential investment property in Richmond, $1M to $5M, term sheet in 24 to 48 hours. For US investors and foreign nationals on the same terms.
Passy Capital finances Richmond investors who buy, renovate and build residential investment property: bridge loans, fix & flip loans, and ground-up construction for infill houses, townhomes and build-to-rent, then renovation loans and DSCR loans as the long-term hold. Loans run from $1M to $5M, with a term sheet in 24 to 48 hours and closing in about two weeks on a clean file.
Richmond has a large stock of older row houses, duplexes and small apartment buildings in neighborhoods such as the Fan, Church Hill, Jackson Ward and Manchester. Renovation is the main investor strategy here, alongside infill construction on vacant lots and new building in the surrounding counties of Henrico and Chesterfield. Many of the best-located houses sit inside a city historic district, which changes the renovation plan and the timeline.
We lend the same way to a Richmond operator and to an investor based outside the United States. A non-US investor borrows through a US LLC on the same terms, with no US credit history required. All loans are business-purpose and for non-owner-occupied property.
Richmond Market Highlights
Historic district review
In Richmond's Old and Historic Districts, exterior changes visible from the street need a Certificate of Appropriateness from the Commission of Architectural Review before work starts: windows, siding, porches, additions, new construction and demolition. Build that approval into the renovation schedule and budget.
Non-judicial foreclosure
Virginia loans are secured by a deed of trust with a power of sale, and foreclosure is generally carried out by the trustee without a court case.
Recordation taxes
Virginia charges a state recordation tax of 25 cents per $100 on deeds and on deeds of trust securing a loan, and a grantor's tax of 50 cents per $500 on the seller. Local recordation taxes can add to the state amount.
Renovation-led market
Older row houses and small multi-unit buildings make Richmond a renovation market. Fix & flip and renovation loans go up to 90% of total cost, funding the purchase and the work in one loan.
Rental exit
Investors who renovate to hold refinance into a DSCR loan, up to 80% LTV, sized on the property's rent rather than personal income.
Suburban new construction
Outside the city limits, Henrico and Chesterfield counties offer larger lots for spec homes, townhomes and build-to-rent. We finance ground-up projects up to 85% of cost, drawn as the work is inspected.
Key Submarkets
The Fan
Church Hill
Jackson Ward
Manchester
Union Hill
Northside
Highland Park
Scott's Addition
Museum District
Henrico
Chesterfield
Midlothian
Property Types We Finance
Single-Family
2-4 Units
Condo / Townhome
Small Multifamily (5-9 Units)
Build-to-Rent
SFR Portfolios
Loan Programs
Bridge Loans
Buy, refinance or cash out an investment property, closing in about two weeks.
Construction
Ground-up spec homes and build-to-rent, with draws tied to milestones.
Renovation / Rehab
Rehab financing on 1-4 unit and small multifamily, drawn against completed work.
Fix & Flip
Purchase and rehab in one loan for 1-4 unit flips, closing in about two weeks.
DSCR / Rental
Long-term rental financing based on property cash flow.
Investing in Richmond from outside the US
If you are buying in Richmond from outside the United States, financing is usually where the process stalls: no Social Security number, no US credit history, and no retail bank willing to underwrite a foreigner. We lend to your US LLC instead, underwrite the property rather than a US profile you have no way to build, and charge no foreign-national premium for it.
Frequently asked questions
Can you finance a renovation in a Richmond historic district?
Yes. We finance the purchase and the renovation in one fix & flip or renovation loan, up to 90% of total cost. If the property is in an Old and Historic District, the Commission of Architectural Review approval for exterior work should be part of the plan and the timeline we underwrite.
What property types do you lend on in Richmond?
Single-family houses, 2-4 unit buildings, condos and townhomes, small multifamily up to 9 units, build-to-rent and SFR portfolios, from $1M to $5M.
Can a foreign national finance a Richmond investment property?
Yes. The loan is made to a US LLC and underwritten on the property and the plan, not a US credit file, so a non-US investor with no US credit history borrows on the same terms as a US investor.
What does the loan cost upfront?
Nothing. Our fee is 1-2% of the loan, paid at closing, with no upfront fees.
Learn More
Fix and Flip Financing Guide
How purchase-plus-rehab loans are sized, drawn and repaid on a flip.
Refinancing a Bridge Loan into DSCR
The exit from a renovation into a long-term rental loan.
DSCR Loan Qualification Explained
How a rental loan is sized on the property's income.
How to Set Up a US LLC as a Foreign Investor
The entity a non-US investor uses to own and finance Richmond property.
More answers in investor questions, answered and the glossary of lending terms.
Related US Markets
We finance US and foreign investors in other markets too.
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