Hard Money Loan West Virginia
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Last updated: May 20, 2025
At OfferMarket, we are dedicated to helping West Virginia real estate investors unlock wealth opportunities through smart property financing. Our comprehensive platform supports your investing journey with:
💰 Private lending options tailored for West Virginia properties
☂️ Competitive insurance rate shopping designed for local risks
🏚️ Access to exclusive off-market properties across West Virginia
Our Hard Money Loan program offers you swift, dependable, and cost-effective financing solutions to purchase, refinance, and renovate 1-4 unit residential investment properties throughout West Virginia.
Whether you plan to renovate and flip a Charleston home or hold a rental in Morgantown, we want to be your trusted lending partner on the path to success.
Let’s dive into the OfferMarket Hard Money Loan Program crafted for West Virginia real estate investors!
What is a hard money loan in West Virginia?
A hard money loan is a short-term financing solution secured by real estate assets — specifically, 1-4 unit residential properties in West Virginia. This loan type allows you to purchase, refinance, and rehab properties to either resell for profit or keep as rental investments.
In the West Virginia real estate community, hard money loans are commonly known as “bridge loans” or “fix and flip loans.” These terms are often used interchangeably among local investors and private lenders in cities like Huntington, Wheeling, and the Eastern Panhandle.
Hard money loan scenarios in West Virginia
West Virginia investors often rely on hard money loans for various projects, including:
Purchasing and renovating distressed or outdated homes in areas like Parkersburg or Martinsburg, avoiding large cash outlays by leveraging financing.
Refinancing cash purchases of undervalued properties in Charleston neighborhoods, then using loan proceeds to complete renovations.
Refinancing existing loans on homes needing updates in coalfield towns, allowing additional time and capital to finish rehab before resale or refinance.
Acquiring below-market properties in small towns like Beckley with no rehab intentions, planning to sell "as-is" for a quick profit.
Refinancing a cash purchase in the northern West Virginia region without rehab plans, tapping into equity for new acquisitions.
Refinancing fully rehabbed properties in Appalachian regions, gaining time to sell or refinance under favorable terms.
How a West Virginia Hard Money Loan Works
A hard money loan consists of two key parts:
- Initial Advance – the portion of your loan covering the property purchase price, wired directly to the closing agent in West Virginia.
- Construction Holdback – funds reserved for renovations, disbursed to you through draw requests as rehab milestones are met.
These loans offer flexibility for West Virginia investors. You may opt for just an initial advance if you’re buying without rehabbing, or only a construction holdback if you’ve already purchased the property outright with cash.
Most investors combine both to maximize leverage and minimize personal cash use. Some prefer only the initial advance to cover purchase costs while funding rehab themselves. Others acquire homes with cash and rely entirely on a construction holdback for renovation expenses.
Your exit strategy in West Virginia might be to flip a home in Charleston’s historic South Hills for a quick profit or rent out a multifamily in Morgantown, refinancing later with a long-term loan like a DSCR loan. It’s common for investors here to pivot between selling or renting based on market trends and financial outlooks, so there’s no rush to finalize your exit plan early.
For example, you might enter a project intending to BRRRR (buy, rehab, rent, refinance, repeat) in Huntington but find rental demand softer than anticipated — selling instead could yield a better return.
Alternatively, you may plan a quick flip in Wheeling, but a cooling market nudges you to rent and refinance, giving you flexibility to sell when conditions improve.
These scenarios highlight the value of focusing on West Virginia projects with dual exit options to reduce risk.
Who uses hard money loans in West Virginia?
Hard money loans in West Virginia primarily serve two investor types:
Fix and flip investors (“flippers”)
Those renovating homes in cities like Charleston or Parkersburg to quickly sell for profit.
Rental property investors (the “BRRRR Method”*)
Those purchasing, rehabbing, renting, and refinancing properties in growing markets such as Morgantown or the Eastern Panhandle.
Learn about our Fix and Rent bundle — a West Virginia–tailored hard money loan for purchase and rehab, coupled with a discounted DSCR loan for refinance — designed specifically to support investors in the state.
Many West Virginia investors adopt hybrid approaches, flipping some homes while holding others as rentals based on local market conditions. This dual strategy is widely regarded as best practice among our clients statewide.
Hard Money Loan Program Guidelines for West Virginia
| 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 borrowing entity must guarantee) |
| Exit strategy: Sale | minimum 30% ROI |
| Exit strategy: Refinance | minimum 1.1 DSCR after repairs |
| Valuation | Appraisal report or In-house valuation |
| SqFt (minimum) | Single family: 700+; 2-4 unit: 500+ per unit; Condo: 500+ |
| Acreage (maximum) | 5 |
| Interest accrual | Under $100,000 loan: full boat; $100,000+ loan: as disbursed |
| Advanced draws | Lender discretion |
| Down payment (minimum) | $10,000 |
Project Eligibility in West Virginia
Our mission is to help West Virginia investors build lasting wealth through real estate by managing risk carefully. Historically, fewer than 0.5% of our loans have defaulted or required foreclosure. This track record reflects our commitment to your success and to maintaining one of the lowest default rates in private lending.
New or less experienced investors taking on extensive West Virginia rehab projects face heightened risks from delays, cost overruns, and shifting local market dynamics — especially in economically uncertain times. Our role is to be your trusted partner, advisor, and capital provider, helping you navigate these challenges with clear, consistent expectations.
Below you’ll find our rehab scope classification system and eligibility rules tailored to West Virginia investors.
Initial Advance in West Virginia
Your initial advance depends on borrower-specific and deal-specific factors, including the number of properties owned in the last 24 months and verified rehab projects completed in the last five years within West Virginia or nearby regions.
Minimum credit score is 680, though we prefer personal guarantors with credit scores over 720. Licensed West Virginia Realtors, General Contractors, and Professional Engineers may qualify for increased leverage.
If the purchase price exceeds the appraisal or in-house valuation’s “As Is” value opinion, the advance will be based on that lower valuation, not the contract price.
Your exit strategy influences your initial advance amount. For sales, we require a minimum 30% projected gross margin and at least $15,000 projected profit. For rental and refinance exits, your projected Debt Service Coverage Ratio (DSCR) post-repairs should be at least 1.1.
If your property is located in a rural West Virginia area, your initial advance will be limited and a minimum experience tier of 3 will be required.
Experience-based Tiers
| Tier | Verifiable experience (completed similar projects) |
|---|---|
| 1 | 0 |
| 2 | 1 to 2 |
| 3 | 3 to 4 |
| 4 | 5 to 9 |
| 5 | 10+ |
Initial Advance by Tier
| Tier | Initial advance (% of purchase price) |
|---|---|
| 1 | 80%* |
| 2 | 85% |
| 3 | 85% |
| 4 | 90% |
| 5 | 90% |
* Borrowers with excellent credit and liquidity may receive 85% on exception basis.
Adjustments to Initial Advance in West Virginia
| Scenario | Adjustment |
|---|---|
| Credit score < 720 | -5% |
| Full gut rehab | -5% |
| New West Virginia market | -5% |
| Licensed West Virginia Realtor | up to +5% |
| Licensed West Virginia General Contractor | up to +10% |
| Licensed Professional Engineer | up to +10% |
| Rural West Virginia | -20% (3+ experience required) |
Rehab scope classification
| Rehab Scope | Definition |
|---|---|
| Light | Rehab budget is less than 25% of purchase price |
| Moderate | Rehab budget is 25% to 49.99% of purchase price |
| Heavy | Rehab budget is 50% to 99.99% of purchase price |
| Extensive | Rehab budget is 100%+ of purchase price — including additions, expansions, ADUs, or low purchase price lopsided deals* |
* A “lopsided deal” occurs when the As Is value or purchase price is less than the rehab cost. See the LTFC Limits section below for tier-specific limits on these types of deals.
Rehab scope eligibility
Your rehab eligibility depends on your experience tier and the rehab scope classification. We recommend focusing on lower scope projects that are more common in West Virginia — often cosmetic or moderate rehabs that can be completed quickly to minimize risk.
| 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 (Loan to After Repair Value)
| 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
LTFC (Loan to Full Cost) applies when rehab budgets exceed purchase price or As Is value, common in extensive rehabs. LTFC limits ensure borrowers retain “skin in the game” for high-risk projects.
| 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% |
Example: No Experience, West Virginia Property
Purchase price: $100,000
Tier: 1 (0 similar verifiable 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 in West Virginia
Purchase price: $100,000
Tier: 1 (0 similar verifiable 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 Experience in West Virginia
Purchase price: $100,000
Tier: 4 (5 similar verifiable experience)
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 in West Virginia
Our underwriting approach in West Virginia emphasizes lending within your cost basis (purchase price plus sunk costs) to ensure you maintain equity in the transaction.
For refinance deals where the property’s As Is value exceeds cost basis and you want to leverage that for renovation, we carefully evaluate these criteria:
Property must be habitable (condition rating C4 or better) and not in disrepair.
Property must be seasoned at least 3 years.
Payoff statement from previous lender must not include default interest, extensions, or late fees.
Minimum credit score of 680.
Experience Tier 3 or higher (minimum 4 similar verifiable rehab projects).
Strong support for As Is value exceeding cost basis (neighborhood sales comparables).
Supportive scenario such as tenant vacancy and renovation to list for sale.
Transactions involving wholesalers in West Virginia
If you buy through a wholesaler, the assignment fee or double-close price increase can be included in your cost basis for the initial advance up to 20% of the purchase price. You must provide:
Complete contract chain and assignments (A-B, B-C).
Wholesaler operating agreement.
Confirmation that the transaction is arms-length (no related parties).
For example:
A-B Contract (original owner to wholesaler): $100,000
B-C Contract (wholesaler to buyer): $125,000 (includes $25,000 assignment fee)
As Is Value: $125,000
Value basis for initial advance: $120,000 (20% cap on assignment fee)
Construction Holdback in West Virginia
The construction holdback portion of your loan funds your renovation via draw requests and reimbursements as you complete verified work stages on your West Virginia property. Learn more about Draw Processing.
If you have sufficient funds to cover rehab costs yourself and prefer not to include a construction holdback, you can opt out. For loans $100,000 or more, interest is charged only on funds disbursed (see “As Disbursed” interest accrual).
| Criteria | Draw Processing Guideline |
|---|---|
| Minimum draw amount | None |
| Maximum draw amount | 100% of remaining construction holdback |
| Minimum number of draws | 0 |
| Maximum number of draws | None |
| Materials delivered but not installed | 50% (receipt/invoice required) |
| Draw inspection | App-based (self-serve) |
| Draw turnaround | 0 to 2 business days |
| Draw fee | $270 |
| Wire fee | $30 |
Appraisal and In-House Valuation for West Virginia Properties
A valuation is required for all OfferMarket hard money loans in West Virginia. Depending on the deal, this could be a 3rd party interior or exterior appraisal, or an in-house valuation.
In-house valuation eligibility
| Criteria | Eligibility requirement |
|---|---|
| Property type | Single family, Duplex, Triplex, Quadplex |
| Tier | 4 or higher |
| Credit score | 720+ |
| Rural | No |
| New market | No |
| LTARV | 70% maximum |
OfferMarket may require an interior or exterior appraisal at its discretion even if you qualify for an in-house valuation.
Exterior Appraisal Acceptable Scenarios in West Virginia
REO sale
Foreclosure auction
Sheriff’s sale
Online auction
Bankruptcy sale
Exterior appraisals must be dated within 120 days of settlement; if 120-180 days old, re-certification is required.
Interior Appraisal Requirement in West Virginia
Any scenario not covered above will require a full interior appraisal. Appraisal forms used:
| Property type | Appraisal forms |
|---|---|
| Single family | 1004 + 1007 ARV with As Is value included (non-gridded) |
| 2-4 Unit | 1025 + 216 ARV with As Is value included (non-gridded) |
| Condo | 1073 + 1007 ARV with As Is value included (non-gridded) |
OfferMarket handles appraisal orders through an AMC, and unpaid appraisal invoices will delay loan processing.
Appraisal Transfer in West Virginia
Appraisals not ordered by OfferMarket may be transferred if:
Ordered via approved AMC
Less than 180 days old at loan closing
Re-certified if 120-179 days old
Transferring lender provides signed transfer letter certifying compliance with Appraiser Independence Requirements (AIR)
Appraisal report and invoice provided
Scenario: Stabilized Hard Money Loan in West Virginia
If your West Virginia property shows no deferred maintenance with a condition rating of C4 or better, OfferMarket will fund up to 75% of the As Is value.
| Criteria | Guideline |
|---|---|
| LTV (maximum) | Tier 1: 70% to Tier 5: 75% |
| LTFC (maximum) | Tier 1: 80% to Tier 5: 90% |
| Appraisal rating | C1, C2, C3, or C4 |
| Loan Term (max) | 12 months |
Key Loan Details for West Virginia
| Criteria | Details |
|---|---|
| Loan Amount | $25,000 to $2,000,000* |
| Units per Property | 1 – 4 |
| Eligible Property Types | Non-owner occupied 1-4 unit residential |
| Property Minimum Size | Single Family: ≥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 for purchases under $100K |
| Loan Term | Standard 12 months; 18-24 months available for specific projects |
| Extensions | Up to 50% of original term (fee applies) |
| Points | 1.5 to 2 points ($2,000 minimum) |
| Prepayment Penalty | None |
| Occupancy | Non-owner occupied — business purpose only |
| Transaction Types | Arms-length purchase, refinance |
| Geographic Region | West Virginia and other eligible states |
| Amortization | Interest-only with balloon payment at maturity |
| Interest Accrual Method | Loan < $100K: full loan amount ("Full Boat"); Loan ≥ $100K: only funds disbursed ("As Disbursed") |
Extensions
Hard money loans are designed as short-term financing, typically 12 to 24 months. Most West Virginia investors repay well before the loan term ends. Extensions should be avoided when possible because they incur fees, add interest costs, and increase foreclosure risk if the loan isn’t repaid after the extension period.
To minimize extension risk on your West Virginia projects, focus on avoiding:
General contractors without strong experience and references in the region
Rehab scopes too ambitious relative to your experience and available liquidity
Local markets with slow zoning, permitting, or inspections
Situations where you lack immediate access to the property (e.g., tenants with leases or eviction needs)
Projects lacking a dual exit strategy (either sell or refinance)
Extension Limits
| Initial Loan Term | Max Extension Allowed |
|---|---|
| 12 months | 6 months |
| 18 months | 9 months |
| 24 months | 12 months |
Extension Terms and Fees
Extension fees are added to your payoff statement as follows:
| Extension Term | Fee |
|---|---|
| 3 months (1st request) | 1% of total loan amount |
| 3 months (2nd request) | 1.5% of total loan amount |
| 6 months (1st request) | 2.5% of total loan amount |
Extension Prerequisites
To extend your loan term, your builder’s risk insurance policy must remain in force throughout the extension period.
Ineligible Property Types
The following property types are not eligible for funding under our West Virginia hard money loan program:
Mixed-use buildings
5+ unit multifamily properties
Condotels and co-ops
Mobile or manufactured homes
Commercial properties (retail, office, industrial)
Cabins or log homes
Properties with oil or gas leases
Operating farms, ranches, or orchards
Vacation or seasonal rentals
Unique, exotic, or luxury properties
Properties accessed only by unpaved or dirt roads
Exception Scenarios
We can consider exceptions for:
Guarantors with credit scores between 660-679
Leasehold or ground rent properties
Single family homes 500 to 699 SqFt
2-4 unit properties with one or more units 400 to 499 SqFt
Initial advance based on As Is value higher than cost basis
Non-arms length transactions
Financed interest payments
Borrower and Guarantor Requirements for West Virginia Investors
| Item | Requirements / Eligibility |
|---|---|
| Borrowing Entities | LLC or Corporation; nonprofits not eligible |
| Eligible Borrowers | U.S. Citizens, Permanent Residents, qualified Foreign Nationals |
| Foreign Nationals | Valid Passport, valid U.S. Visa (excluding some Travel/Student Visas), U.S. FICO score required if guarantor |
| Credit Requirements | Minimum 680 FICO (exceptions 660-679) |
| Credit Reports | Tri-merge report not older than 120 days |
| Liquidity | Estimated cash to close + 25% of rehab budget held in liquid assets |
| Eligible Liquid Assets | Personal/business bank accounts, brokerage accounts, retirement accounts (50% haircut) |
| Guaranty Structure | Purchase loans: 51% of borrowing entity guarantees; Cash-out refinance: 100% guarantee; Full recourse required |
| Aggregate Net Worth | Guarantor net worth at least 50% of loan amount |
Frequently Asked Questions about Hard Money Loans in West Virginia
What states does OfferMarket fund hard money loans in?
OfferMarket provides hard money loans in most U.S. states, including West Virginia. We support real estate investors across Charleston, Morgantown, Huntington, and beyond.
Our coverage includes:
Arizona*, Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Minnesota*, Montana, Nebraska, Nevada*, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota*, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota*, Tennessee, Texas, Utah, Vermont*, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming.
(*) In states where NMLS licensing is required for business lending or where we don’t directly lend, OfferMarket operates as a rate shopping service and refers loans to licensed capital providers.
Can I have more than one hard money loan at a time in West Virginia?
Yes. Many West Virginia investors hold multiple hard money loans simultaneously. Our top priority is managing risk, so if your liquidity or project pace does not support additional loans, we will work with you to ensure safe growth.
Are hard money loans commercial?
Yes, because loans are issued to your business entity (LLC or corporation) for investment purposes, hard money loans are classified as commercial loans.
What is the minimum loan amount?
The minimum loan amount is $25,000.
Which property types are eligible in West Virginia?
Eligible properties include non-owner occupied 1-4 unit residential real estate such as single-family homes, townhomes, small multifamily (2-4 units), and warrantable condos.
Note: Mixed-use 2-4 units, 5+ unit multifamily, and commercial properties are not eligible under this program but may qualify under other OfferMarket programs.
How is Loan-to-Value (LTV) calculated?
We use Loan-to-After-Repair-Value (LTARV) as the key metric, which is the total loan amount divided by the property’s appraised value after renovation. The initial advance is based on the lower of the contract purchase price or the As Is value.
What credit requirements apply?
A minimum FICO score of 680 is generally required. Borrowers with scores between 660 and 679 may be considered on a case-by-case basis. Credit scores of the borrowing entity members personally guaranteeing the loan are evaluated.
Is experience required?
Experience is not mandatory, but verified past rehab projects of similar or greater scope can qualify you for higher loan advances under our tiered experience system.
Does wholesaling count as experience?
No. Since wholesalers do not financially manage rehab completion, wholesaling transactions do not contribute toward your experience tier.
What documentation is required?
Purchase Transaction Requirements
| Loan File Section | Description |
|---|---|
| Purchase Contract | Fully executed contract signed by buyer and seller |
| Credit Report | Soft tri-merge credit report for each borrowing entity guarantor |
| Background Report | Background check for each borrowing entity guarantor |
| Track Record | Verification of previous real estate projects for each guarantor |
| ID Verification | Government-issued ID (driver’s license, passport, Green Card) |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9 |
| Scope of Work | Detailed rehab budget to determine After Repair Value (ARV) |
| Appraisal Report | Link provided to pay appraisal invoice; appraisal uploaded to loan file |
| Bank Statements | Two most recent statements for each guarantor (personal or business accounts) |
| Letter of Explanation | Requested if necessary (e.g., large deposits, credit or background clarifications) |
Refinance Transaction Requirements
| Loan File Section | Description |
|---|---|
| Settlement Statement | Fully executed by buyer and settlement agent |
| Credit Report | Soft tri-merge credit report for each borrowing entity guarantor |
| Background Report | Background check for each borrowing entity guarantor |
| Track Record | Verification of previous real estate projects for each guarantor |
| ID Verification | Government-issued ID (driver’s license, passport, Green Card) |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9 |
| Sunk Costs | Itemized list of costs already incurred |
| Scope of Work | Detailed rehab budget guiding the renovation and ARV determination |
| Appraisal Report | Link provided to pay appraisal invoice; appraisal uploaded to loan file |
| Bank Statements | Two most recent statements for each guarantor (personal or business accounts) |
| Letter of Explanation | Requested if necessary (e.g., large deposits, credit or background clarifications) |
Are there special requirements for loans over $1 million in West Virginia?
| Criteria | Details |
|---|---|
| Experience | Minimum 3 similar projects strongly preferred |
| Market Liquidity | At least 3 comparable MLS sales within 2 miles in the last 6 months |
| Credit Score | Minimum 680 with 5+ trade lines over 24 months |
| Rural Designation | Not eligible if designated rural by CFPB/USDA or appraisal |
| Track Record | Required for all borrowing entity members |
Glossary of Key Terms
| Term | Definition |
|---|---|
| ADU | Accessory Dwelling Unit — a secondary self-contained unit on the same parcel |
| Arms-length | Transaction between independent parties ensuring fair market value |
| Non Arms-length | Related-party transactions potentially affecting fairness |
| Initial Advance | Portion of loan wired to cover purchase price |
| Construction Holdback | Portion of loan reserved for renovation costs |
| Interest Reserves | Upfront interest collected and held to cover accrued interest before monthly payments |
| LOE | Letter of Explanation clarifying financial or credit items |
| LTC | Loan to Cost ratio (loan amount vs purchase plus rehab costs) |
| LTFC | Loan to Full Cost ratio (loan amount vs total project cost) |
| LTV | Loan to Value ratio (loan amount vs As Is value) |
| LTARV | Loan to After Repair Value ratio (loan amount vs appraised value after rehab) |
| As Disbursed Interest | Interest charged only on funds disbursed |
| Full Boat Interest | Interest charged on entire loan amount |
| Lopsided deal | Rehab costs exceed purchase or As Is value |
| GC Agreement | Contract with general contractor for project management |
| DSCR | Debt Service Coverage Ratio — rent income divided by debt payments |
Instant Hard Money Loan Quote for West Virginia
OfferMarket Capital LLC is a leading private lender specializing in hard money and DSCR loans for 1-4 unit residential properties throughout West Virginia.
Thousands of West Virginia investors rely on OfferMarket each month. Membership is free and offers:
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