Recently Funded Fix And Flip Loan In Richmond, Virginia
Loan Scenario:
American Heritage Lending funded a $331,652 Fix and Flip purchase loan on a single-family detached home in Richmond, Virginia, backing a professional investor on a substantial acquire-and-renovate project. The home carried an as-is value of $297,000 and an after-repair value of $475,000, with a rehab budget of $59,616. So the loan closed at 93% loan-to-cost and 69.82% loan-to-after-repair-value on a 12-Month Interest-Only term. That interest-only structure keeps monthly carry low so the borrower, already holding seven properties, can concentrate capital on the renovation itself.
The scope of work runs the full gut sequence. First come general conditions and demolition, then exterior work and masonry. Next the crew handles woods and plastics along with thermal and moisture protection to tighten the building envelope. From there doors, frames, and hardware go in, drywall is hung and finished, and flooring and ceramic tile are laid. Then painting brings the interior together, equipment and appliances are set, and the plumbing, HVAC, and electrical systems are completed to finish the home.
Richmond is Virginia’s capital and a diversified employment hub, home to Fortune 500 headquarters including CarMax, Capital One, Dominion Energy, Altria, and Performance Food Group. Virginia Commonwealth University and VCU Health anchor a large eds-and-meds workforce, and state government adds another stable layer of employment. That breadth of high-earning jobs supports strong for-sale demand across the city’s historic and revitalizing neighborhoods. Notably, buyer appetite for renovated homes in established Richmond districts leaves meaningful room between a well-executed rehab and resale, which is why professional flippers stay active here. The metro’s steady population growth and its position along the Interstate 95 corridor between Washington and the coast add further depth to the buyer pool.
Overall, this deal shows how American Heritage Lending backs professional builders with practical high-leverage financing. Cost-based leverage, an interest-only term, and a detailed scope give the investor a clear runway to complete a full renovation and sell into a deep, diversified metro market.
Similar Recently Funded Case Studies: Fix & Flip Loan in Woodbridge, VA • Fix & Flip Loan in Brookhaven, PA • Fix & Flip Loan in East Bend, NC
Key Deal Points
| Address | Richmond, VA |
| Loan Type | Fix and Flip – Purchase |
| Borrower Profile | Professional |
| Property Type | Single Family Detached |
| Appraised Value | $297,000 |
| Rehab Budget | $59,616 |
| After Repair Value | $475,000 |
| Loan Amount | $331,652 |
| LTC | 93.00% |
| LTARV | 69.82% |
| Term | 12-Month Interest-Only |
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