West Virginia Fix and Flip Loan

Last Updated: April 14, 2025

OfferMarket’s Fix and Flip Loan Program is created with West Virginia real estate investors in mind! Whether you’re flipping a house in Charleston, renovating a property in Morgantown, or exploring a hidden gem in one of the state’s historic coal towns, our program provides the capital and flexibility you need to thrive. Let’s explore how our loan works, the essential terms to know, and what you can expect during the application process.

Why a Fix and Flip Loan in West Virginia Is a Smart Investment

West Virginia’s real estate market offers a dynamic blend of opportunities, shaped by the state’s diverse topography and ongoing economic revitalization efforts. From bustling urban centers like Charleston and Huntington, where business districts and historic neighborhoods continue to evolve, to quaint, rural communities set amidst the rugged natural beauty of the Mountain State, real estate investors can tap into a wide range of lucrative deals.

The presence of major universities—like West Virginia University (WVU) in Morgantown and Marshall University in Huntington—adds another layer of appeal, as these institutions anchor vibrant student populations, create employment opportunities, and drive a steady demand for both short-term and long-term housing.

Beyond these academic hubs, West Virginia’s commitment to infrastructure improvements, healthcare expansion, and tourism development has helped stimulate local economies and, in turn, strengthen the housing market.

Towns once known primarily for coal production are reinventing themselves with new industries, business startups, and outdoor recreation projects designed to capitalize on the state’s rugged landscapes, such as whitewater rafting in the New River Gorge and mountain biking in Snowshoe. These initiatives not only attract visitors but also encourage new residents seeking affordable living costs, scenic surroundings, and a slower pace of life.

By leveraging OfferMarket’s Fix and Flip Loan, investors gain crucial financial backing that can accelerate the purchase and renovation of properties across the state. Whether it’s transforming a dated home in Charleston’s historic district or modernizing a rental near a popular hiking destination, the ability to buy, fix, and resell.

What You Get with OfferMarket’s Fix and Flip Loan in West Virginia

Our Fix and Flip Loan caters to both beginners and seasoned professionals. Below is a concise overview of the program’s key benefits:

1. Loan Amount Details

• Minimum Loan Amount: $25,000
  Ideal for smaller projects and quick turnaround flips.

• Maximum Loan Amount: $2,000,000
  Perfect for more extensive or high-value investments. Projects over $1M require a proven track record (3+ years) and strong comparable sales data.

• How It Works
  The loan size is tailored to your purchase price, rehab budget, and After Repair Value (ARV) so you get precisely the capital you need.

2. After Repair Value (ARV) Requirements

• Minimum ARV: $100,000
  Ensures projects are positioned for profitability.

• Maximum Loan-to-ARV (LTARV): Up to 75%
  Depending on your experience, you might qualify for 70% (new investors) or 75% (seasoned flippers).

• Valuation
  We finalize ARV through appraisals (e.g., 1004 + 1007 for single-family homes) or in-house evaluations for fast, accurate figures.

3. Funding Breakdown

• Initial Advance: Up to 90% of the Purchase Price
  Depending on experience. First-timers might see 80%, while pros can tap into 90%. Adjustments apply for lower credit scores or if you hold a contractor’s license (+10%).

• Construction Holdback: Up to 100% of Rehab Costs
  Access these funds via our user-friendly app-based draw system. Disbursements typically happen within 0–2 days.

• Down Payment
  For properties under $100K, expect to put at least $10,000 down.

• Draws
  No rigid minimum or maximum. We’ll fund 50% of your materials once they’re delivered (even before installation).

4. Interest Rates and Fees

• Interest Rate
  Varies with market conditions. Contact us for an updated quote on your West Virginia project.

• Origination Fee
  1.5 to 2 points (minimum $2,000). For example, on a $100,000 loan, a 2-point fee equals $2,000 at closing.

• Other Fees

  • Each draw: $270

  • Each wire transfer: $30

  • Appraisal fees: Paid by the borrower

• Interest Accrual

  • Loans under $100K: Interest charged on the entire loan amount.

  • Loans over $100K: Interest accrues only on funds already disbursed.

5. Loan Term

• Duration
  A standard term is 12 months. If you need a bit more time for a complex rehab, 18- and 24-month options are available.

• Extensions
  You can extend for up to 50% of your original term. On a 12-month loan, that’s up to 6 extra months. A 3-month extension typically costs 1%, and 6 months usually runs around 2.5%.

6. Repayment Structure

• Payments
  Interest-only during the life of the loan, with a balloon payment at the end to preserve cash flow for renovations.

• Prepayment Penalty
  None. If you complete your work early and sell or refinance, you’re free to settle the loan at no additional cost.

• Recourse
  Full recourse: at least 51% of the borrowing entity’s owners must guarantee for purchases (100% for refinances).

7. Exit Strategy Requirements

• Sale
  We expect a minimum 30% ROI and at least $15,000 in profit upon closing.

• Refinance
  A post-rehab Debt Service Coverage Ratio (DSCR) of 1.1 or greater is recommended for a smooth transition into a long-term loan.

• Flexibility
  If market conditions shift in West Virginia, you can pivot from flipping to renting if it offers a better outcome.

8. Eligibility Criteria

• Experience
  Not required. First-time flippers begin at Tier 1 (80% initial advance), while veteran investors can climb to Tier 5 (90%) with 10 or more successful flips.

• Credit Score
  Minimum 680 (though 660–679 can be considered with certain conditions).

• Borrowing Entity
  Must operate as an LLC or Corporation.

• Cash Reserves
  Enough liquidity (bank, brokerage, or retirement accounts) to cover closing costs plus 25% of your rehab budget.

9. Project and Property Requirements

• Eligible Properties
  1–4 unit residences (single-family, duplexes, triplexes, quads), condos (≥500 sq ft), and townhomes/PUDs. Single-family homes must be ≥700 sq ft; multifamily units ≥500 sq ft each.

• Maximum Acreage
  Up to 5 acres, allowing for properties with a bit of that beautiful West Virginia countryside.

• Rehab Scope
  From light cosmetic upgrades (under 25% of purchase price) to full-scale overhauls (100%+). First-timers usually opt for moderate rehabs.

• Location
  We lend in West Virginia, excluding AK, AZ, HI, MN, ND, NV, OR, SD, UT, VT. Highly rural properties come with a -20% advance adjustment and require 3+ years of experience.

10. Risk and Approval Process

• Underwriting
  We consider ARV, renovation plans, your investment history, and local comps (e.g., Charleston vs. rural counties) before issuing a decision.

• Valuation
  Typically requires an appraisal, although select deals qualify for in-house valuations.

• Approval Timeline
  Once you’ve sent all required documents, initial funding can be completed quickly. Draw requests typically wrap up within 0–2 days. Our default rate is below 0.5%, reflecting our commitment to your success.

11. Support and Flexibility

• Guidance
  We provide rehab cost calculators and detailed project analyses to help you plan effectively within West Virginia’s markets.

• Rehab Oversight
  Enjoy self-serve draw inspections and a robust app-based system for managing your project timeline.

• Advanced Draws
  For crucial stages in your project, we may offer advanced draws so you’re never short on cash.

12. Transparency and Fine Print

• Sample Costs
  For a $150,000 West Virginia property, you might see:

  • Origination Fee (2 points): $2,000

  • Draw Fee: $270 per draw

  • Wire Fee: $30 per transfer

  • Rehab Costs: Up to 100% covered

• Hidden Costs
  We lay out all fees—draw, wire, extension—up front.

• Rural/Complex Terms
  Extremely rural flips in West Virginia incur a -20% advance adjustment. Complex rehabs may cap at 70% LTARV or 85–90% LTFC (Loan-to-Full-Cost).

How You Can Profit from West Virginia Real Estate

Let’s consider a hypothetical example in Charleston, West Virginia to see how the numbers might align:

• Purchase Price: $120,000

• Rehab Budget: $30,000

• After Repair Value (ARV): $180,000

Loan Breakdown

• Loan Amount (75% of ARV): $135,000

• Upfront Funding (90% of purchase price for seasoned investors): $108,000

• Down Payment: $12,000

• Rehab Funds: $30,000 in a construction holdback, accessible via draws

Once renovations are complete and the property lists for $180,000, you’ll pay off the loan and retain whatever profit remains after fees, rehab costs, and related expenses. Managed efficiently, this can yield a solid ROI.

Why Choose OfferMarket for Your Fix and Flip Loan in West Virginia?

Competitive Loan Terms

A high LTV (loan-to-value) ratio—up to 90%—ensures you can direct your own capital toward impactful improvements, manage unexpected costs, and maintain the flexibility to pursue more deals in the Mountain State.

Experienced Advisors

When you partner with OfferMarket, you’re backed by a team of professionals skilled in every aspect of real estate—valuations, rehab timelines, market analysis, and exit strategies. We stay updated on West Virginia’s real estate regulations and trends so you can make informed decisions at every turn.

Fast Processing

Time kills deals. Our rapid approvals and draw disbursements (often within days) help you avoid hold-ups and keep contractors busy on-site. Our self-serve draw platform puts you in control, eliminating financing bottlenecks.

No Prepayment Penalties

Should you finish your project ahead of schedule, you can sell or refinance at any time without incurring extra fees. This freedom lets you pivot swiftly and reinvest your profits in the next venture.

Transparency and Flexibility

No hidden fees, no surprises. We adapt loan parameters—like draw schedules or scope-of-work requirements—based on your track record and specific property details, letting you budget with confidence and focus on flipping success.

West Virginia Fix and Flip Loan: Documentation Requirements

Smooth and speedy approvals hinge on proper documentation. Here’s what you’ll need for both purchase and refinance scenarios:

Purchase Transaction Requirements

Refinance Transaction Requirements

Special Requirements for Loans Over $1M

Projects above $1M (up to $2M) undergo additional checks to confirm feasibility and ensure you can handle the scale:

Glossary of Key Terms

Get an Instant Fix and Flip Loan Quote in West Virginia

OfferMarket is here to help you succeed in the Mountain State’s real estate arena. Our Fix and Flip Loan gives you the financial flexibility and market-savvy terms you need to flourish. Request an instant quote today and take your first step toward a profitable flip under West Virginia’s rolling hills and scenic vistas!

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