Residential Lot & Land Loans in Virginia
Residential Lot & Land Loan in Virginia
Normandy’s Residential Lot & Land Loan program is structured for Virginia borrowers who need to move efficiently. Pre-qualification is typically completed in 3 to 5 business days; closing typically within 30 days for qualifying borrowers. Fast-track closings in approximately 14 days are available when certain criteria are met.
Virginia residential lots span suburban parcels in Loudoun and Prince William Counties, waterfront lots along the Chesapeake Bay and its tributaries, and rural acreage throughout the Shenandoah Valley and Piedmont.
Loan amounts from $50,000 to $1,500,000. 50% to 60% of purchase price; exceptions up to 75% based on credit and lot profile. Foreign nationals are eligible. Limited income documentation available at 50% LTV or less. No minimum acreage.
To start on residential land loan in Virginia, visit https://normandy.com/residential-lot-land-loans/ or call 800-390-7536. All loan programs: https://normandy.com/.
General Guidelines*
- Loan amounts from $50,000 to $1,500,000
- Loan amounts from 50% to 60% of the purchase price (exceptions up to 75% of the purchase price based on credit and lot profile)
- No minimum FICO required, however as FICO scores fall, so may the loan to value considered (subject to underwriting)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
- Term of 1 to 3 years
- 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)
- Interest only payments
- No minimum acreage requirement or maximum limitations
- Residential zoned land
- Limited income documentation available at 50% loan to value or less
*All rates and terms subject to change without notice
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
- Alaska (AK)
- Alabama (AL)
- Arkansas (AR)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Georgia (GA)
- Hawaii (HI)
- Iowa (IA)
- Idaho (ID)
- Indiana (IN)
- Kansas (KS)
- Kentucky (KY)
- Massachusetts (MA)
- Maryland (MD)
- Maine (ME)
- Michigan (MI)
- Missouri (MO)
- Mississippi (MS)
- Montana (MT)
- North Carolina (NC)
- Nebraska (NE)
- New Hampshire (NH)
- New Jersey (NJ)
- New Mexico (NM)
- New York (NY)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Rhode Island (RI)
- South Carolina (SC)
- South Dakota (SD)
- Tennessee (TN)
- Utah (UT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wyoming (WY)
Frequently Asked Questions — Residential Lot & Land Loan in Virginia
Q: What is a residential land loan in Virginia?
A: A residential land loan in Virginia is financing for purchasing a residentially zoned lot or parcel for present or future home construction. Loan amounts from $50,000 to $1,500,000. Terms from 1 to 3 years. Interest-only payments apply during the term.
Q: What does residential lot financing cover in Virginia?
A: Residential lot financing in Virginia through Normandy covers the purchase of residentially zoned land — suburban, rural, and semi-rural parcels. No minimum acreage is required. Standard LTVs from 50% to 60% of purchase price, with exceptions up to 75% based on credit and lot profile.
Q: Is vacant land financing available in Virginia for rural parcels?
A: Yes. Normandy’s vacant land financing in Virginia covers rural, suburban, and semi-rural residential parcels. No minimum acreage. Rural lots with access road, easement, or well and septic considerations are reviewed individually during underwriting.
Q: Can I get lot financing for home construction in Virginia?
A: Yes. Normandy’s lot financing for home construction in Virginia lets you secure the land now and build later — or roll land and construction into one loan. Terms from 1 to 3 years. Call 800-390-7536 to discuss your timeline and lot.
Q: What is a land mortgage loan in Virginia?
A: A land mortgage loan in Virginia is a loan secured by a residential parcel. Normandy offers amounts from $50,000 to $1,500,000 with LTVs from 50% to 60% of purchase price. Foreign nationals are eligible. Limited documentation available at 50% LTV or less.