Bridge Loan Virginia
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Last Updated: May 2, 2025
At OfferMarket, we’re here to help you build lasting wealth through smart real estate investments. For real estate investors throughout Virginia — from Arlington to Roanoke — we’ve built an all-in-one platform that simplifies your journey:
💰 Private funding options
☂️ Insurance rate comparison
🏚️ Access to off-market deals
Our Virginia Bridge Loan program delivers swift, reliable, and competitively priced capital so you can acquire and add value to residential 1-4 unit investment properties across the Commonwealth.
Whether you’re planning to flip your next property in Virginia Beach or refinance and rent in Richmond, we’d be honored to earn your trust and play a role in your investing success.
Let’s explore how the OfferMarket Bridge Loan works in Virginia!
What is a bridge loan?
| Criteria | Guideline |
|---|---|
| Loan amount (minimum) | $25,000 |
| Loan amount (maximum) | $2,000,000 |
| ARV (minimum) | $100,000 |
| Experience | Not required |
| Credit score (minimum) | 680 |
| Borrowing entity | LLC or Corporation |
| Initial advance | Up to 90% |
| Construction holdback | Up to 100% |
| LTARV (maximum) | 75% |
| Interest rate | Get instant quote |
| Origination fee | 1.5 to 2 points |
| Term | 12 to 24 months |
| Points out | None |
| Prepayment penalty | None |
| Structure | Interest-only with balloon payment |
| Recourse | Full (51% of entity must guarantee) |
| Exit strategy: Sale | Minimum 30% ROI |
| Exit strategy: Refinance | Minimum 1.1 DSCR post-renovation |
| Valuation | Appraisal or in-house valuation |
| SqFt (minimum) | SFR: 700+ / 2–4 unit: 500+ per unit |
| Condo: 500+ | |
| Acreage (maximum) | 5 acres |
| Interest accrual | Under $100K: full boat; $100K+: as disbursed |
| Advanced draws | Lender discretion |
| Down payment (minimum) | $10,000 |
A bridge loan is a short-duration loan tailored to provide transitional funding until long-term financing is in place.
Bridge loan use cases
In the Virginia real estate market, investors commonly use bridge loans for the following situations:
Buying and renovating distressed or outdated properties — you want to fund both the purchase and rehab in places like Norfolk or Chesapeake without draining your personal reserves.
Refinancing a cash deal and renovating — say you secured a fixer-upper in Newport News with cash for a fast close, now you want to pull your equity back out to complete the improvements.
Refinancing a current loan on a property that still needs work — maybe your original lender needs to be paid off, but you still need funding to finish the renovation of a property in Alexandria or Lynchburg.
Buying below-market properties with no planned rehab — you might find a great deal in an off-market pocket of Hampton and want to sell it as-is for a profit.
Refinancing a cash buy with no rehab plans — if you bought cheap and just need to access your equity before resale, a bridge loan makes it possible.
Refinancing a completed rehab to gain time — sometimes the work’s done, but you're not ready to sell or refinance just yet. Our bridge loan gives you breathing room.
Among investors and lenders in Virginia, you may also hear bridge loans called “hard money loans” or “fix and flip loans” — these terms are used interchangeably.
How it works
Bridge loans include two primary parts:
Initial Advance – This portion of the loan is allocated to cover your property purchase. It’s wired to your closing attorney or title company at settlement.
Construction Holdback – This part covers the rehab budget and is reimbursed in draws as you hit milestones on your renovation.
Bridge loans are inherently flexible. In fact, you can choose only one component — either the initial advance or the construction holdback — depending on your project goals in cities like Fairfax, Charlottesville, or anywhere else in Virginia.
Most investors prefer using both components to reduce their own capital exposure while maximizing leverage. Others may only take the initial advance if they’re covering the rehab themselves, or vice versa if they’re refinancing and just want help finishing a renovation.
Bridge loans are built to mold around your investment strategy — the versatility is one of their biggest strengths.
Whether you’re planning a flip in Fredericksburg or aiming to refinance a duplex in Danville into a long-term DSCR loan, your exit strategy determines your approach.
And it’s totally normal if your strategy shifts during the project. The Virginia market — like any — has its cycles, so your choice between selling or holding might change based on what makes the most sense financially.
For example, you might buy with the BRRRR strategy in mind — buy, rehab, rent, refinance, repeat — but after renovations, the resale market looks hot. Flipping might suddenly become the smarter move.
On the flip side, you might start with a flip in mind, only to see the market cool and decide to hold and rent, then refinance into a DSCR loan with favorable terms. We support both paths and offer tools to help you run the numbers either way.
Being flexible is a hallmark of successful real estate investing in Virginia, and our loan structure makes that easy.
Who uses bridge loans?
In Virginia, bridge loans are a go-to financial tool for:
Fix-and-flip investors – Entrepreneurs flipping houses from Virginia Beach to Roanoke rely on fast, flexible funding.
Buy-and-hold investors using the BRRRR Method – These investors buy, rehab, rent out, and refinance properties, often targeting high-demand rental markets like Arlington and Richmond.
(**) Ask about our Fix and Rent bundle — pair a bridge loan for acquisition and rehab with a discounted DSCR loan for your refinance.
As we've seen throughout Virginia, many real estate investors use a hybrid strategy — flipping some properties, holding others. This blended approach helps maximize profit and minimize risk, and we fully support it.
Bridge Loan Program Guidelines
| Criteria | Guideline |
|---|---|
| Loan amount (minimum) | $25,000 |
| Loan amount (maximum) | $2,000,000 |
| ARV (minimum) | $100,000 |
| Experience | Not required |
| Credit score (minimum) | 680 |
| Borrowing entity | LLC or Corporation |
| Initial advance | Up to 90% |
| Construction holdback | Up to 100% |
| LTARV (maximum) | 75% |
| Interest rate | Get instant quote |
| Origination fee | 1.5 to 2 points |
| Term | 12 to 24 months |
| Points out | None |
| Prepayment penalty | None |
| Structure | Interest-only with balloon payment |
| Recourse | Full (51% of entity must guarantee) |
| Exit strategy: Sale | Minimum 30% ROI |
| Exit strategy: Refinance | Minimum 1.1 DSCR post-renovation |
| Valuation | Appraisal or in-house valuation |
| SqFt (minimum) | SFR: 700+ / 2–4 unit: 500+ per unit |
| Condo: 500+ | |
| Acreage (maximum) | 5 acres |
| Interest accrual | Under $100K: full boat; $100K+: as disbursed |
| Advanced draws | Lender discretion |
| Down payment (minimum) | $10,000 |
Project Eligibility
At OfferMarket, we’re committed to helping Virginians grow their real estate portfolios safely. That’s why our default rate is under 0.5% — the lowest in the industry. We're proud to protect our investors and their projects.
Inexperience combined with highly complex rehabs can increase the chance of delays, cost overruns, and market exposure — especially during uncertain economic times.
As your funding partner, we’re also your risk advisor. Our goal is to set clear expectations and keep you aligned with profitable, manageable deals across Virginia. Next, we’ll review our rehab classification system and what’s eligible based on your experience.
Initial Advance
Your initial advance depends on the strength of your deal and your track record. We assess your completed projects over the past 5 years and how many properties you've owned in the last 24 months.
The baseline credit score is 680, though a 720+ is preferred for optimal terms. Licensed real estate agents, general contractors, and professional engineers in Virginia may qualify for additional leverage.
Note: If your contract purchase price exceeds our "as-is" valuation, the advance is based on the lower appraised value.
Exit strategy matters:
For sales, we look for a minimum 30% gross margin and $15,000 projected profit.
For refinances, the target is a 1.1+ DSCR after repairs.
For rural properties in Virginia — such as those in the Shenandoah Valley — we require more experience and may limit leverage.
Experience-based Tiers
| Tier | Verifiable Experience |
|---|---|
| 1 | 0 |
| 2 | 1 to 2 |
| 3 | 3 to 4 |
| 4 | 5 to 9 |
| 5 | 10+ |
Initial Advance by Tier
| Tier | % of Purchase Price |
|---|---|
| 1 | 80%* |
| 2 | 85% |
| 3 | 85% |
| 4 | 90% |
| 5 | 90% |
(*) 85% is possible for Tier 1 borrowers with excellent credit and liquidity.
Adjustments to Initial Advance
| Scenario | Adjustment |
|---|---|
| Credit score below 720 | -5% |
| Full gut rehab | -5% |
| New market | -5% |
| Licensed Virginia Realtor | up to +5% |
| Licensed General Contractor | up to +10% |
| Licensed Professional Engineer | up to +10% |
| Rural property in VA (3+ experience) | -20% |
Rehab Scope Classification
| Scope | Definition |
|---|---|
| Light | Rehab < 25% of purchase price |
| Moderate | Rehab between 25% and 49.99% of purchase price |
| Heavy | Rehab between 50% and 99.99% |
| Extensive | Rehab ≥ 100%, major additions or low-cost deals (see LTFC section) |
Rehab Scope Eligibility
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | Eligible | Eligible | Eligible | Eligible | Eligible |
| Moderate | Ineligible | Eligible | Eligible | Eligible | Eligible |
| Heavy | Ineligible | Eligible | Eligible | Eligible | Eligible |
| Extensive | Ineligible | Ineligible | Eligible | Eligible | Eligible |
LTARV Limits
Your maximum Loan-To-After-Repair-Value (LTARV) — which determines how much of the future value of your Virginia investment property you can borrow — is based on both your experience level and the scale of your renovation.
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | 70% | 70% | 75% | 75% | 75% |
| Moderate | Ineligible | 70% | 75% | 75%< | 75% |
| Heavy | Ineligible | 70% | 75% | 75%< | 75% |
| Extensive | Ineligible | Ineligible | 70% | 70% | 70% |
LTFC Limits
For extensive rehabs in Virginia — such as a full renovation of a farmhouse in rural counties like Amelia or a property where the rehab cost exceeds the purchase price — Loan-To-Full-Cost (LTFC) limits apply to ensure sound financial structure.
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | N/A | N/A | N/A | N/A | N/A |
| Moderate | Ineligible | N/A | N/A | N/A< | N/A |
| Heavy | Ineligible | N/A | N/A | N/A< | N/A |
| Extensive | Ineligible | Ineligible | 85% | 90% | 90% |
LTFC is the ratio of total loan amount to the full project cost (purchase + rehab).
Example: No Experience
Purchase price: $100,000
Tier: 1 (no experience)
Credit score: 695
Rehab budget: $24,000
ARV: $150,000
Initial advance: $75,000 (75%)
Construction holdback: $24,000
Total loan amount: $99,000
LTARV: 66%
LTFC: 79.8%
Interest accrual: Full boat
Example: No Experience, Excellent Credit
Purchase price: $100,000
Tier: 1 (no experience)
Credit score: 750
Rehab budget: $24,000
ARV: $150,000
Initial advance: $80,000 (80%)
Construction holdback: $24,000
Total loan amount: $104,000
LTARV: 69.33%
LTFC: 83.9%
Interest accrual: As disbursed
Example: 5+ Projects of Experience
Purchase price: $100,000
Tier: 4 (5 completed rehabs)
Credit score: 750
Rehab budget: $20,000
ARV: $150,000
Initial advance: $90,000 (90%)
Construction holdback: $20,000
Total loan amount: $110,000
LTARV: 73.33%
LTFC: 91.67%
Interest accrual: As disbursed
Refinance using As Is value instead of Cost Basis for Initial Advance
If you’ve owned your Virginia property for several years and its market value is now higher than your total investment, you may qualify for a bridge loan based on its As Is value instead of cost basis.
To qualify:
The property must be 3+ years seasoned
Condition rating of C4 or better
You must have a Tier 3 or higher experience level
Credit score: 680+
No recent fees, defaults, or penalties from previous lenders
There must be strong market comps that support the valuation
This is ideal for landlords in cities like Norfolk or Portsmouth who are ready to renovate and re-list a well-located property for resale or rent.
Transactions involving wholesalers, price run-ups
If you're acquiring a property in Virginia through a wholesaler or double close, we may include the assignment fee or price markup in the valuation — but only under certain conditions:
Example:
A-B contract (owner to wholesaler): $100,000
B-C contract (you, the buyer): $125,000
As Is value: $125,000
Value basis for advance: $120,000 (we cap the run-up at 20%)
Key guidelines for wholesaler deals in Virginia:
The markup (assignment fee/double-close gap) must not exceed 20% of the original seller’s price.
If the property was listed on the MLS, the markup is not financeable.
We require:
Full chain of contracts (A-B, B-C)
The wholesaler’s operating agreement
We do not fund finder’s fees or referral fees.
Transactions must be arm’s length.
Construction Holdback
The construction holdback is your rehab budget — held by us and disbursed as you make progress.
If you prefer to use your own funds and skip draw requests, you’re welcome to waive the holdback.
But if your loan is $100,000+, you only pay interest on disbursed funds (not the full budget). This "as disbursed" structure helps preserve your capital during Virginia rehabs.
| Criteria | Draw Guideline |
|---|---|
| Minimum draw amount | None |
| Maximum draw | 100% of remaining budget |
| Number of draws | No limit |
| Materials delivered, not installed | Up to 50% (receipt required) |
| Inspection | App-based, self-serve |
| Turnaround | 0–2 business days |
| Draw fee | $270 |
| Wire fee | $30 |
Appraisal and In-house Valuation
Every Virginia bridge loan requires a property valuation. Depending on the deal, this could be:
Third-party interior appraisal
Exterior appraisal
In-house valuation
In-house valuation
| Criteria | Eligibility |
|---|---|
| Property type | SFR, Duplex, Triplex, Quadplex |
| Experience tier | 4 or higher |
| Credit score | 720+ |
| Rural | Not eligible |
| New market | Not eligible |
| Max LTARV | 70% |
Even if you qualify, OfferMarket may still require a full appraisal at our discretion.
Exterior appraisal
We accept exterior-only appraisals for distressed or auction sales across Virginia such as:
REO sales
Sheriff’s auctions
Online platforms
Bankruptcy cases
Valid if dated within 120 days of your loan closing (or recertified up to 180 days).
Interior appraisal
Any other type of transaction — such as standard arms-length deals in Richmond, Norfolk, or Fairfax — will require a full interior appraisal.
| Property type | Appraisal Forms |
|---|---|
| Single family | 1004 + 1007 ARV (must include As Is value) |
| 2–4 unit | 1025 + 216 ARV (must include As Is value) |
| Condo | 1073 + 1007 ARV (must include As Is value) |
If we didn’t order the appraisal, you can request a transfer as long as it:
Was ordered via AMC
Is under 180 days old
Comes with:
AIR-compliant transfer letter
PDF + XML reports
Paid invoice
Scenario: Stabilized Bridge Loan
For Virginia properties in solid condition — meaning no repairs needed and C4 condition or better — you may qualify for a stabilized bridge loan. This option allows you to tap into your property's current market value with no rehab required.
| Criteria | Guideline |
|---|---|
| LTV (max) | Tier 1–2: 70%, Tier 3–5: 75% |
| LTFC (max) | Tier 1–2: 80%, Tier 3–5: 90% |
| Appraisal condition rating | C1 to C4 |
| Max term | 12 months |
This is a great fit for landlords in Virginia who need short-term funding on rent-ready properties without any construction component.
Key Loan Details
| Criteria | Details |
|---|---|
| Loan Amount | $25,000 to $2,000,000* |
| Units per Property | 1 – 4 |
| Eligible Property Types | Non-owner occupied residential: SFR, 2-4 units, condos |
| Property Minimum Size | SFR: ≥ 700 SQFT / Condo & 2–4 Unit: ≥ 500 SQFT per unit |
| Max Acreage | 5 acres |
| Loan to Cost (LTC) | Up to 90% purchase, 100% rehab |
| Loan to ARV (LTARV) | Up to 75% |
| Down Payment | Minimum $10,000 if purchase price is under $100K |
| Loan Term | 12 months standard; 18–24 months for select projects |
| Extensions | Up to 50% of original term |
| Points | 1.5 to 2 points ($2,000 minimum) |
| Prepayment Penalty | None — no minimum interest earned |
| Occupancy | Non-owner occupied — business purpose only |
| Transaction Types | Purchase, refinance — must be arm’s length |
| Geographic Region | All of Virginia, excluding prohibited rural zones |
| Amortization | Interest-only with balloon payment at maturity |
| Interest Accrual | < $100K: full boat; ≥ $100K: as disbursed |
Extensions
Bridge loans are meant to be short-term — ideally 12 months or less. Still, we understand projects in Virginia may face delays due to weather, permitting, or contractor setbacks.
You can extend your loan, but this isn’t ideal. Extensions come with added interest, fees, and foreclosure risk if the loan remains unpaid after your max term.
To avoid needing an extension in Virginia, steer clear of:
Inexperienced contractors
Overambitious rehabs
Slow permit offices (e.g. some parts of Fairfax County)
Tenant-occupied properties with holdovers
Single-strategy exit plans (no backup plan to refinance or sell)
Extension Limits
| Initial Loan Term | Maximum Extension |
|---|---|
| 12 months | 6 months |
| 18 months | 9 months |
| 24 months | 12 months |
Extensions are available in 3- or 6-month increments.
Extension Terms and Fees
| Extension Term | Fee |
|---|---|
| 3 months (1st) | 1% of total loan amount |
| 3 months (2nd) | 1.5% of total loan amount |
| 6 months (1st) | 2.5% of total loan amount |
Important: You’ll need to show proof that your builder’s risk insurance covers the full extension period.
Ineligible Property Types
The following types of real estate in Virginia are not eligible for this bridge loan program:
Mixed use buildings
5+ unit multifamily
Condotels, co-ops
Mobile or manufactured homes
Commercial real estate (retail, office, etc.)
Cabins, log homes
Properties with oil/gas leases
Active farms, ranches, orchards
Vacation rentals or seasonal homes
Unique, luxury, or exotic homes
Homes on unpaved/dirt roads
Exception Scenarios
Some loan requests may be eligible on an exception basis, including:
Guarantor FICO score between 660–679
Leasehold properties with ground rent
SFR homes between 500–699 SQFT
2–4 unit buildings with one or more units between 400–499 SQFT
Initial advance based on As Is value exceeding cost basis
Non-arm’s length transactions
Financed interest payments requested
Each exception is reviewed by our credit committee and must be backed by a strong rationale and supporting documentation.
Borrower and Guarantor Requirements
| Item | Requirement |
|---|---|
| Borrowing Entities | Must be an LLC or Corporation; nonprofits not eligible |
| Eligible Borrowers | US Citizens, Permanent Residents, select Foreign Nationals |
| Foreign Nationals | Passport, valid visa, and US FICO score required |
| Minimum Credit Score | 680 (some exceptions between 660–679) |
| Tri-Merge Credit Report | Required, no older than 120 days |
| Liquidity Requirement | Cash to close + 25% of rehab budget |
| Guaranty Structure | Purchase: ≥51% must guarantee; Refi: 100% must guarantee |
| Net Worth | Must equal ≥50% of the loan amount |
| Recourse | Full recourse required |
Liquidity Verification
We require that the guarantor(s) demonstrate enough liquid assets to cover:
Estimated cash to close
25% of the rehab budget
Acceptable liquid assets in Virginia:
Checking/savings accounts (personal or business)
Brokerage accounts
Retirement accounts (50% credit applied)
Business accounts (must verify ownership via operating agreement)
Important:
You don’t have to transfer these funds to a new account. We’ll verify via your most recent two account statements, and no seasoning period is required for new accounts.
Credit and Background Items
To assess risk, we review your credit history and background. Here’s what we look for:
If 3 scores are returned, we use the middle score
If 2 scores, we use the lower score
No mortgage tradelines? We require 6 months of interest reserves
Less than 5 tradelines? 6 months reserves required
Bankruptcy/Foreclosure?
Must be discharged/completed 4+ years before closing
If between 4–7 years: 3-month reserve required
Late mortgage payments in last 12 months: explanation letter may be required
Outstanding debts or liens must be settled before closing
Active civil lawsuits: explanation required
Criminal background:
Financial or serious crimes = not eligible
Repetitive offenses = subject to committee review
Interest Reserves
Interest reserves are funds collected at closing and held in escrow to cover early interest payments. These reserves help ensure you're not immediately making monthly payments out of pocket — a feature that’s especially helpful for investors tackling renovations in markets like Richmond, Norfolk, or Roanoke.
| Interest Reserve | Scenario |
|---|---|
| 0 months | At lender’s discretion |
| 1 month | Guarantor FICO score of 700+ |
| 3 months | Guarantor FICO between 660–699 |
| 6 months | FICO 660–699 + negative credit/background flags |
Reserves are drawn down first before you begin making monthly interest payments from your own bank account.
Financed Interest Payments
If preserving cash flow during your project is a top priority, you may be eligible to finance your interest payments — especially helpful if you're managing multiple renovations in Virginia’s competitive markets.
Here’s how it works:
Instead of monthly payments, your accrued interest is added to your loan payoff balance.
Example:
Loan amount: $100,000
Interest rate: 12%
Held for: 9 months
Accrued interest: $9,000
Your payoff statement would show:
Principal: $100,000
Accrued interest: $9,000
Total payoff: $109,000
Property Sourcing Guidelines
To qualify for a bridge loan, we need to understand your sourcing and renovation plan. Every Virginia property deal must include:
GC agreement or explanation if not using a general contractor (especially in new markets)
Additional documentation for:
Wholesale transactions
Significant price increases from prior sale
Non-arm’s length transactions
For major renovations or condo conversions:
Letters from architects or engineers
Relevant permits
You’ll also need to submit:
Executed purchase contract
Payoff letters (for refi)
Rehab scope and budget
Business formation documents
Bridge Loan Insurance Guidelines
It’s essential to protect your Virginia investment property with Builder’s Risk Insurance, also known as Fix and Flip insurance. This specialized policy bundle covers both the physical structure and your liability while the property is under renovation or vacant.
| Coverage Type | Minimum Required |
|---|---|
| Dwelling | Loan amount or replacement cost |
| Liability | $1M per occurrence / $2M aggregate |
| Builder’s Risk | Required |
| Flood (if applicable) | Greater of $250K or loan balance if in flood zone |
Insurance Coverage Details
| Requirement | Guideline |
|---|---|
| AM Best Rating | A- VIII or higher |
| Policy Type | Special Form |
| Deductible | $1,000 to $5,000 |
| Lender Designation | Must list us as Mortgagee and Additional Insured |
| No Coverage Gaps | No exclusion for wind, hail, or named storms |
| Cancellation Notice | 30-day written notice required |
💡 Pro tip: As soon as you take title to your Virginia property, install locks, smoke detectors, and security cameras to stay compliant and prevent denied claims.
Frequently Asked Questions
What states does OfferMarket fund bridge loans?
We provide bridge loans in nearly all U.S. states, including Virginia. In cases where licensing is required or we don’t lend directly, we operate as a rate shopping service, connecting you to a licensed capital partner.
Can I have more than one bridge loan at a time?
Yes! Many of our clients have multiple bridge loans at once — especially in active markets like Northern Virginia. That said, we’ll monitor your liquidity and project timelines to help manage risk.
Are bridge loans commercial?
Yes. These loans are for business purposes only and are made to entities such as LLCs or Corporations — not individuals.
What is the minimum loan amount?
The smallest bridge loan we offer is $25,000.
Which property types are eligible?
We finance non-owner occupied 1–4 unit residential properties throughout Virginia, including:
Single-family homes
Townhomes
Condominiums
Small multifamily (2–4 units)
Mixed-use and commercial buildings are not eligible under this program but may qualify for our other loan options.
How is Loan-to-Value (LTV) calculated?
We use LTARV (Loan-To-After-Repair Value) most commonly, which is the total loan divided by the projected post-rehab value. In refi scenarios, we base the initial advance on the lower of the purchase price or As Is value.
What credit score do I need?
We require a minimum FICO score of 680. If your score falls between 660–679, you may still qualify on an exception basis with added reserves.
Do I need experience to qualify?
No. Many Virginia investors use our program for their first project. That said, experience helps you qualify for better leverage and bigger deals through our experience tier system.
Does wholesaling count toward experience?
No. Being a wholesaler doesn’t count because you weren’t responsible for funding or completing the rehab — both of which are required to demonstrate operational experience.
What documentation is required?
At OfferMarket, we’ve designed our Loan File system to make the application and approval process as simple as possible for Virginia real estate investors. Once uploaded, most documents are stored securely in your account and can be reused for future projects — whether you’re rehabbing in Hampton Roads or refinancing in Northern Virginia.
Purchase Transaction Requirements
If you're applying for a bridge loan to buy a property, here’s what you’ll need:
| Loan File Section | Documentation Required |
|---|---|
| Purchase Contract | Signed by both buyer and seller |
| Credit Report | Soft tri-merge credit report for all guarantors |
| Background Report | For each member of the borrowing entity |
| Track Record | Past projects completed by each guarantor |
| ID Verification | Government-issued ID (Driver’s License, Passport, etc.) |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement, W-9 |
| Scope of Work | Detailed rehab plan and budget |
| Appraisal Report | You’ll receive a payment link; we’ll upload the report once ready |
| Bank Statements | Two most recent statements per guarantor (personal or business) |
| Letter of Explanation | If requested (e.g. large deposits, background items) |
Refinance Transaction Requirements
If you're refinancing a property you already own in Virginia, your required documentation will look like this:
| Loan File Section | Documentation Required |
|---|---|
| Settlement Statement | Final closing statement from your original purchase |
| Credit Report | Soft tri-merge credit report for all guarantors |
| Background Report | For each member of the borrowing entity |
| Track Record | Past projects completed by each guarantor |
| ID Verification | Government-issued ID |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement, W-9 |
| Sunk Costs | A breakdown of costs already incurred (e.g. closing, renovations) |
| Scope of Work | Updated rehab budget, if applicable |
| Appraisal Report | We’ll provide a link to pay the invoice and upload the report |
| Bank Statements | Two most recent statements per guarantor |
| Letter of Explanation | If requested by underwriting |
Are there special requirements for loans over $1 million?
Yes — for bridge loans above $1 million (up to our $2 million cap), we apply enhanced guidelines to ensure deal stability and protect borrower success in higher-stakes projects.
| Criteria | Explanation |
|---|---|
| Experience | At least 3 similar-sized completed projects preferred |
| Market Liquidity | At least 3 recent comps (MLS sales within 2 miles in 6 months) |
| Credit Score | 680+ with 5+ trade lines aged 24+ months |
| Rural Properties | Not eligible if designated rural by CFPB or USDA or appraisal |
| Track Record | Verified record of successful projects is required |
Glossary of Key Terms
| Term | Definition |
|---|---|
| ADU | Accessory Dwelling Unit — a second residence on the same lot |
| Arms-length | A deal between unrelated, independent parties |
| Initial Advance | Funds disbursed at closing for the property purchase |
| Construction Holdback | Funds reserved for post-closing rehab, released via draw process |
| LTARV | Loan-To-After-Repair Value — loan amount / projected property value after rehab |
| LTC | Loan-To-Cost — loan amount / (purchase + rehab costs) |
| LTFC | Loan-To-Full-Cost — total loan / total cost for extensive rehabs |
| Interest Reserves | Escrowed funds applied toward early interest payments |
| Full Boat Interest | Interest accrues on the full loan amount from day one |
| As Disbursed Interest | Interest accrues only on funds drawn |
| DSCR | Debt Service Coverage Ratio — income vs debt on a rental property |
| GC Agreement | Contract with a general contractor for project execution |
| Non-Arms-length | Transactions between related parties (family, business, etc.) |
| LOE | Letter of Explanation — for credit or background anomalies |
Instant Bridge Loan Quote
OfferMarket Capital LLC is one of Virginia’s leading private lenders for real estate investors specializing in bridge loans and DSCR loans. Whether you're flipping rowhomes in Richmond, stabilizing triplexes in Norfolk, or refinancing rentals in Alexandria, our goal is to provide fast, fair, and flexible financing.
Thousands of real estate investors get value from OfferMarket every month. Membership is entirely free and includes the following benefits:
💰 Private lending ☂️ Insurance rate shopping 🏚️ Off market properties 💡 Market insights
