Renovo Financial for Virginia investors
Renovo Financial is the largest Chicago-based hard money lender. Founded 2011, they've closed thousands of loans across the Midwest and have particularly deep penetration in Chicago, Indianapolis, and Milwaukee. Strong relationships with the local broker community make them a default first-call for many Chicago investors.
Virginia context
Virginia steady DSCR. Military presence supports demand (Norfolk, JBSA).
How Renovo Financial positions in Virginia
For Virginia specifically, Renovo Financial fits investors who match the hard money approach. The medium cash flow profile of Virginia aggregate makes it workable for Renovo Financial.
City-level coverage in Virginia
Renovo Financial provides DSCR coverage across Virginia metros including Virginia Beach, Richmond, and Norfolk. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Renovo Financial program terms apply uniformly across Virginia metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family |
| Loan size | $100K - $5.0M |
| Rates | 9.5%-12.5% |
| Points | 1 - 3 |
| Max LTV | 85% of ARV |
| Term lengths | 6-24 months (hard money) / 30-year (rental) |
| Typical close time | 7-14 days typical |
| Virginia property tax | 0.9% |
| Virginia state income tax | 5.75% |
Renovo Financial strengths in Virginia
- Chicago-based — strongest local market knowledge
- experienced underwriting team
- national reach with local depth
- strong fix-and-flip program
Ideal borrower: Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
FAQ
Likely; verify direct Virginia coverage. Renovo Financial is based in Chicago, IL and operates in Chicago / national.
Virginia Beach is the top investor market in Virginia and is generally within Renovo Financial Chicago / national footprint. Virginia Beach property tax follows the Virginia state rate of 0.9 percent. Renovo Financial typically underwrites Virginia Beach acquisitions at standard rate sheets.
Yes. Richmond ranks among the larger Virginia investor metros and sees consistent DSCR loan volume from Renovo Financial. Submarket variation within Richmond matters for property selection.
Renovo Financial applies the same rate sheet across Virginia metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Virginia Beach, Richmond, and Norfolk all qualify for the same Renovo Financial program.
Renovo Financial indicative DSCR rate range is 9.5 to 12.5 percent with 1 to 3 points.
Virginia steady DSCR. Military presence supports demand (Norfolk, JBSA). Renovo Financial follows standard business-purpose loan structures.
Renovo Financial funds fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family in Virginia.
Virginia allows standard DSCR prepay structures; Renovo Financial typically uses 3-5 year step down.
Renovo Financial typical close: 7-14 days typical.
Bottom line
For Virginia DSCR borrowers, Renovo Financial is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Renovo Financial.