Home Renovation Loans in Virginia

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Renovation Loan in Virginia

Normandy offers home renovation loan and home improvement loan programs for residential projects throughout Virginia. Borrowers deal directly with the loan officer and underwriter — no broker chain, no call center handoffs. Coverage includes Northern Virginia (DC Metro), Richmond, Hampton Roads (Norfolk, Virginia Beach, and Chesapeake), Charlottesville, and Roanoke and communities across the state.

Virginia’s diverse housing stock — from historic Richmond neighborhoods and Colonial-era properties in the Northern Neck to aging suburban homes in Hampton Roads — supports steady renovation and home improvement financing demand.

Loan amounts from $95,000 to $5,000,000. Up to 85% of appraised value for owner-occupied conforming amounts. 12-month construction term; extensions available. Interest-only on funds advanced. Borrower may act as own GC or hire a qualified builder. No site supervisor required. Non-owner occupied allowed. Foreign nationals welcome.

Full details and pre-qualification at https://normandy.com/renovation-loans/. All Normandy residential programs at https://normandy.com/. Call 800-390-7536.

General Guidelines*

  • Loan amounts from $95,000 to $5,000,000
  • Loan amounts up to 85% of the appraised value on single family, owner occupied, full income documentation, conforming loan amounts up to $832,750.  Loan amounts over $1M, up to 80% of appraised value may be considered. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
  • Lender will advance up to 75% of the purchase price towards the acquisition of a property
  • Foreign Nationals are eligible for this program
  • Deal directly with the Loan Officer/Underwriter
  • Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
  • Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
  • Flexible draw schedules
  • 1 to 4 family homes, refer to Commercial Construction for more than 4 units
  • 12 month construction term with extensions available
  • Interest only payments based on funds advanced
  • Borrower may act as own General Contractor or hire a qualified builder. No site supervisor required.
    *All rates and terms subject to change without notice

For a Rate and Fees quote call

800-390-7536

PRE QUALIFY NOW (Consumer Use Only)

Virginia Construction Market & Regulatory Overview

Virginia’s construction activity is concentrated around the Washington D.C. metro in Northern Virginia, the Richmond growth market, Hampton Roads’ federal and military-driven residential demand, and Shenandoah Valley custom builds.

Building Code: Virginia Uniform Statewide Building Code (USBC), based on the International Residential Code with Virginia-specific modifications.

Permitting: Permits are issued through local county and city building departments under the USBC. Inspections are required at multiple construction stages.

Key construction considerations in Virginia include coastal storm and flood risk in Hampton Roads, high humidity statewide, and winter ice and snow events in Northern Virginia and the mountain regions. Normandy’s underwriting team works directly with borrowers — you deal with the loan officer and underwriter, not a call center.

Contractor Licensing in Virginia

Virginia contractors must be licensed through DPOR (Department of Professional and Occupational Regulation) as Class A, B, or C depending on project size and value.

Owner-Builder Note: Virginia allows owner-builders to construct a residence for personal use without a contractor license. The exemption does not extend to properties built for sale or rent.

Loans Available in the Following States

Owner Occupied

Loans available for owner occupied properties in the following states:

  1. California (CA)
  2. Connecticut (CT)
  3. Delaware (DE)
  4. Florida (FL)
  5. Iowa (IA)
  6. Massachusetts (MA)
  7. Michigan (MI)
  8. North Carolina (NC)
  9. New Jersey (NJ)
  10. New York (NY)
  11. Oregon (OR)
  12. Rhode Island (RI)
  13. Virginia (VA)
  14. Washington (WA)

Non-Owner Occupied

Loans available for non-owner occupied properties only:

  1. Alaska (AK)
  2. Alabama (AL)
  3. California (CA)
  4. Colorado (CO)
  5. Connecticut (CT)
  6. Delaware (DE)
  7. Florida (FL)
  8. Georgia (GA)
  9. Hawaii (HI)
  10. Iowa (IA)
  11. Idaho (ID)
  12. Indiana (IN)
  13. Kansas (KS)
  14. Kentucky (KY)
  15. Massachusetts (MA)
  16. Michigan (MI)
  17. Maryland (MD)
  18. Maine (ME)
  19. Missouri (MO)
  20. Mississippi (MS)
  21. Montana (MT)
  22. North Carolina (NC)
  23. New Jersey (NJ)
  24. Nebraska (NE)
  25. New Mexico (NM)
  26. New York (NY)
  27. Ohio (OH)
  28. Oklahoma (OK)
  29. Oregon (OR)
  30. Pennsylvania (PA)
  31. Rhode Island (RI)
  32. South Carolina (SC)
  33. Tennessee (TN)
  34. Utah (UT)
  35. Virginia (VA)
  36. Washington (WA)
  37. West Virginia (WV)
  38. Wyoming (WY)

Frequently Asked Questions — Renovation Loan in Virginia

Q: What is a home renovation loan in Virginia?

A: A home renovation loan in Virginia is financing for renovating, expanding, or improving a residential property you own or are purchasing. Normandy disburses funds in draws as work progresses. Interest-only payments on advanced funds during the 12-month term.

Q: What does home improvement loan financing cover in Virginia?

A: Home improvement loan financing in Virginia through Normandy covers kitchen and bathroom remodels, structural additions, ADU construction, and full property renovations. Loan amounts from $95,000 to $5,000,000. Up to 85% of appraised value for owner-occupied conforming amounts.

Q: Is renovation financing in Virginia available for non-owner occupied properties?

A: Yes. Normandy’s renovation financing in Virginia covers both owner-occupied and non-owner occupied 1–4 family residential properties. Please call 800-390-7536 for LTV specifics on non-owner occupied applications.

Q: What is a fixer upper loan in Virginia?

A: A fixer upper loan in Virginia through Normandy lets you purchase and renovate a property under one loan. Normandy can advance up to 75% of the purchase price toward acquisition, with renovation funds disbursed in draws as work progresses.

Q: Can I be my own contractor for a remodel loan in Virginia?

A: Yes. Normandy allows borrowers to act as their own GC under the renovation loan program in Virginia. No site supervisor is required. You may also hire a qualified builder. Confirm your project qualifies before applying.

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Normandy Corporation

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