Fix and flip loans in Virginia, funded in 48 hours.

Yes. PML funds fix and flip loans in all 50 states, with active flipper books in Virginia Beach, Norfolk, Richmond, and Arlington. Single-family, duplex, triplex, and fourplex properties. Loan size from $100,000 to $5,000,000 per asset, with cross-collateralized facility lines available for sponsors running three or more concurrent Virginia projects. No state-line carve-outs on pricing or leverage; a Richmond City flip prices off the same rate sheet as a Virginia Beach City flip.

Virginia does not require a separate state lender license for business-purpose loans on 1 to 4 unit non-owner-occupied investment property held by an entity. PML originates Virginia fix and flip loans under that posture, with closings handled through the customary Virginia closing process. Loans are not consumer mortgages; they cannot be used for a primary or secondary residence. The borrower is always an LLC, LP, or corporation, never a natural person.

The bulk of Virginia fix and flip activity in our book lands in a $240,000 to $485,000 ARV band, with loans typically between $190,000 and $395,000 on a single asset. Richmond and Virginia Beach skew toward the lower half of that band on entry-level cosmetic flips; Arlington and Fairfax County stretch to $1,250,000 plus on full-gut projects. We will write a Virginia loan as small as $100,000 and as large as $5,000,000.

Virginia is a hybrid state: title companies handle most lender closings on investment property, but a Virginia closing attorney may also conduct the closing depending on county custom and the deed package. PML aligns with whichever the borrower has engaged. A clean Virginia file regularly closes 5 to 8 business days from term-sheet acceptance.

Virginia imposes a state recordation tax on the deed (~$0.25 per $100) and on the deed of trust (~$0.25 per $100, capped by formula), plus a county grantor tax. The total typically lands at roughly 0.5% to 0.6% of consideration. PML’s quote on the HUD reflects the actual Virginia tax and recording schedule for the subject county; there are no lender markups on third-party closing costs.

Atlantic hurricane season (June through November) can pause draws for 48 to 72 hours during an active warning on coastal files, but inland Virginia sees no seasonal slowdown. Inspector clears within one business day, wire goes out within 48 hours, year-round.

Virginia is a non-judicial foreclosure state operating under power of sale. A defaulted business-purpose loan can move from notice to trustee sale in roughly 60 days. As a sponsor this should never matter; as an underwriting input it is one reason our Virginia loans price cleanly off the national rate sheet.

The Richmond City e-recording system normally posts a deed and deed of trust the same business day they are submitted. Other major Virginia metros (Norfolk, Richmond and Arlington) run similarly fast on e-recording. PML wires loan proceeds the day of close; the lien recording happens in parallel.

Yes. Virginia trustee sales typically happen on a posted weekly or monthly schedule at the county courthouse. PML issues a binding term sheet within four business hours of a property submission, which is sufficient for most Virginia non-judicial auctions and most online foreclosure platforms. Clean title and a binding term sheet can move from winning bid to wire in 7 to 10 calendar days.

Yes. PML can close into a newly-formed Virginia LLC even if you took the property under contract in your personal name. The closing party handles the deed transfer at closing — the property moves from your personal name into the new entity simultaneous with the loan funding, with the standard Virginia transfer-tax treatment applied at close. We do not lend to natural persons; the borrower is always an entity. We can help structure the entity if you do not yet have one in place.