$325,000
Median Home Price
$276,000
Avg. Loan Amount
226K
Population
14+
Licensed Lenders
Key Richmond Neighborhoods
Explore popular neighborhoods and their median home prices. Click on map markers for details.
Map Legend
The Fan
$425KHistoric, walkable
Short Pump
$475KAffluent suburb
Church Hill
$375KRevitalized, trendy
Richmond Real Estate Market
Why Non-QM loans are popular in Richmond
Growing demand for flexible mortgage solutions in Richmond
Self-employed professionals benefit from bank statement loan programs
Real estate investors use DSCR loans for rental property financing
Non-QM loans available for borrowers with recent credit events
Frequently Asked Questions
Common questions about Non-QM loans in Richmond
What is the minimum credit score for Non-QM loans in Richmond?
Most Non-QM lenders serving Richmond require a minimum credit score of 620-660, though some programs accept scores as low as 580 with compensating factors like larger down payments.
Can I get a bank statement loan in Richmond, Virginia?
Yes, bank statement loans are available in Richmond. Self-employed borrowers can qualify using 12 or 24 months of personal or business bank statements instead of tax returns.
What are DSCR loan requirements in Richmond?
DSCR loans in Richmond typically require a debt service coverage ratio of 1.0 or higher, meaning the property's rental income must cover the mortgage payment. No personal income verification is needed.
How much can I borrow with a Non-QM loan in Richmond?
Non-QM loan amounts in Richmond typically range from $100,000 to $3 million or more. With a median home price of $325,000, many borrowers find Non-QM loans essential for their purchase.
What Non-QM programs are most popular in Richmond?
The most popular Non-QM programs in Richmond include bank statement loans for self-employed borrowers, DSCR loans for real estate investors, and asset depletion loans for high-net-worth individuals.