Get Pre-ApprovedRate Quote

DSCR Loans in West Virginia

Qualify on the rent, not your tax returns.

A West Virginia DSCR loan is a rental property mortgage sized on the rent, with no personal income documents. HUD puts the 2 bedroom Fair Market Rent for the Charleston metro at $1,048 a month (HUD User). Pillar Mortgage Group (NMLS 2700076) arranges DSCR loans in West Virginia up to $5 million.

Run my West Virginia dealCheck your DSCR

Facts checked November 1, 2026. Not a commitment to lend.

Facts checked November 1, 2026

West Virginia at a glance for DSCR investors

Pulled from state statutes, state agencies, the Census Bureau and FRED. Each row links to its source.

West Virginia factValueSource
Security instrumentDeed of trust (trust deed)code.wvlegislature.gov
ForeclosureNonjudicialW. Va. Code 38-1-3
Transfer and recording taxesState excise tax on transfer $1.10 per $500 of value; counties may add up to $1.65 per $500 (post July 1, 2017, with county commission approval)W. Va. Code 11-22-2
Security depositNo cap statedW. Va. Code 37-6A-1(7), 37-6A-2
Notice for unpaid rentNo pre filing notice to pay or quit is required by 55-3A-1; the landlord files a verified petition for summary relief stating the arrearage, the hearing is set 5 to 10 judicial days after filing, and the tenant may file a written defense within 5 days of receiving noticeW. Va. Code 55-3A-1
LLC formation fee$100W. Va. Code 59-1-2(a)(1)(C)
Median listing price$259,997 in September 2026 ($262,000 in September 2025)Realtor.com via FRED
Median gross rent, statewide$872 (ACS 5 year 2020 to 2024)Census
HUD 2 bedroom Fair Market Rent$1,048, The Charleston metroHUD User
The definition

How a DSCR loan works in West Virginia

The ratio is rent over the full payment, PITIA. Take the HUD 2 bedroom Fair Market Rent for the Charleston metro, $1,048: that rent carries a $1,048 payment at 1.00, or $2,096 at 0.50.

Full walk through: how DSCR is calculated.

Where PMG is different

PMG DSCR guidelines for West Virginia investors

What PMG can place for a West Virginia rental, in short.

  • First time buyers: allowed, no VOR
  • Cash out: no seasoning
  • Reserves: none under $1M, 75% LTV
  • Assets: no sourcing
  • Gift funds: 100%
  • ADUs: multiple
  • Foreign nationals: 70% / 60% LTV
  • DSCR: from 0.50
  • Interest only: 70% / 65% LTV

Loan amount

Up to $5M

Credit

660 and up

Down

20 to 25%

Vesting

LLC ok

Guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend. Compare with typical DSCR programs.

West Virginia rental market

What West Virginia rentals rent and sell for

These public benchmarks show where West Virginia rents and prices sit right now.

HUD Fair Market Rent, 2 bedroom

$1,048

The Charleston metro (FY2027)

HUD User

HUD Fair Market Rent, 2 bedroom

$1,006

The Huntington metro (FY2027)

HUD User

Median gross rent, statewide

$872

Census American Community Survey, 5 year 2020 to 2024

Census ACS

Median listing price

$259,997

September 2026, down 0.8% from $262,000 in September 2025

Realtor.com via FRED

Quick math (computed from the figures above): Using the West Virginia median listing price, $259,997, a 25% down payment is $64,999 and the loan is $194,998. A year of rent at the Fair Market Rent for the Charleston metro ($1,048) is $12,576, or 4.8% of that price. A year of rent at the Fair Market Rent for the Huntington metro ($1,006) is $12,072, or 4.6% of that price.

Fair Market Rent is a HUD benchmark, not an appraisal.

Calculator

Check your West Virginia DSCR in seconds

The rent field starts at the HUD 2 bedroom Fair Market Rent for the Charleston metro. HUD also lists the Charleston metro at $1,048 and the Huntington metro at $1,006. Swap in your lease or appraisal rent, then add your quoted rate. For a price reference, the median West Virginia listing was $259,997 in September 2026.

West Virginia DSCR Calculator

See how a rental's income stacks up against its full monthly payment. Your numbers stay in your browser.

Income
Example: HUD 2 bedroom Fair Market Rent for the Charleston metro. Replace it with your rent.
Loan
Expenses
Leave blank if there is no HOA.

Your DSCR results

Enter rent, price and your quoted rate to see your DSCR.

Formula used

Loan amount (L) = Price × (100 minus Down %) ÷ 100

P&I (30 year fixed) = L × r × (1 + r)^360 ÷ ((1 + r)^360 minus 1), where r = annual rate ÷ 100 ÷ 12

P&I (40 year interest only) = L × r

PITIA = P&I + Tax ÷ 12 + Insurance ÷ 12 + HOA

DSCR = Monthly rent ÷ PITIA

Rent needed for a target DSCR = Target × PITIA

Talk through your numbers with us

Estimates only. Not a loan offer. Rates and terms vary by lender, property and borrower. Company NMLS #2700076. Example values are illustrations, not a quote.

The math

DSCR worked examples for West Virginia

Hypothetical PITIA of $1,775 (P&I $1,400, taxes $250, insurance $125), real West Virginia rents. Not a quote or a rate.

The Charleston metro

HUD FY2027 2 bedroom Fair Market Rent (source)
$1,048
Hypothetical PITIA
$1,775

0.59DSCR

$1,048 / $1,775 = 0.59: fits programs down to 0.50.

The Huntington metro

HUD FY2027 2 bedroom Fair Market Rent (source)
$1,006
Hypothetical PITIA
$1,775

0.57DSCR

$1,006 / $1,775 = 0.57: fits programs down to 0.50.

Talk to us

Have a West Virginia rental in mind? Run it with us.

A two minute form gets the property in front of our team. You get a straight answer on the ratio and the structure.

Investors from any state can buy in West Virginia.

See If My West Virginia Deal Qualifies

No commitment  ·  Under 2 minutes

Your information is never sold or shared. By submitting you authorize Pillar Mortgage Group LLC to contact you by phone, text, or email. Equal Housing Lender.

✓

Got it.

We will reach out shortly to run your numbers.

Top markets

Where West Virginia investors are buying

Most West Virginia DSCR deals land in these markets. Check the city rules before you buy.

Charleston

$1,048

HUD 2 bedroom Fair Market Rent, the Charleston metro (HUD)

Huntington

$1,006

HUD 2 bedroom Fair Market Rent, the Huntington metro (HUD)

Landlord and tenant law

West Virginia landlord and tenant rules that affect your DSCR

A DSCR loan underwrites the rent, so the rules that govern collecting it matter. Here is what West Virginia law says, with the statute for each.

TopicThe ruleCitation
Security depositNo cap stated. Return deadline: Within 60 days of termination of the tenancy or within 45 days of occupation by a subsequent tenant, whichever is shorter.W. Va. Code 37-6A-1(7), 37-6A-2
Nonpayment noticeNo pre filing notice to pay or quit is required by 55-3A-1. The landlord files a verified petition for summary relief stating the arrearage, the hearing is set 5 to 10 judicial days after filing, and the tenant may file a written defense within 5 days of receiving notice.W. Va. Code 55-3A-1
Month to month terminationNotice for one full period before the end of any period (one month for month to month).W. Va. Code 37-6-5

Not legal advice.

Property taxes

How West Virginia taxes rental property

Every dollar of tax raises the payment the rent has to cover. Here is how West Virginia assesses and taxes property.

  • Assessment: Property is assessed annually as of July 1 at 60 percent of true and actual value. W. Va. Code 11-3-1 (code.wvlegislature.gov)
  • Investor notes: Class II covers property owned, used and occupied by the owner exclusively for residential purposes. Rental property is not owner occupied, so it falls in Class III (outside municipalities) or Class IV (inside municipalities), which carry different levy rates than Class II. W. Va. Code 11-8-5 (code.wvlegislature.gov)
Closing and foreclosure

West Virginia closing and foreclosure basics for investors

The closing mechanics and transfer costs that land on a West Virginia settlement statement.

  • Security instrument: Deed of trust (trust deed) (code.wvlegislature.gov)
  • Foreclosure: Nonjudicial: on default, the trustee sells at public auction after notice under 38-1-4, without a court proceeding. W. Va. Code 38-1-3 (code.wvlegislature.gov)
  • Transfer and mortgage taxes: State excise tax on transfer $1.10 per $500 of value. Counties may add up to $1.65 per $500 (post July 1, 2017, with county commission approval). W. Va. Code 11-22-2 (code.wvlegislature.gov)
LLC and vesting

West Virginia LLC costs and vesting

What it costs to form and keep an LLC in good standing with the West Virginia Secretary of State.

Local angle

What makes West Virginia different for rental investors

  • West Virginia has some of the lowest entry prices in the country, so DSCR math often works at modest rents. Morgantown's West Virginia University drives student and staff rental demand, while Charleston and Huntington are regional government, healthcare and university centers. Rental property is taxed outside the owner occupied Class II, so investors should price in the higher class levy. (Census)
Before you offer

West Virginia investor checklist

Check each of these on any West Virginia rental you plan to finance.

Step by step

Five steps to a West Virginia DSCR loan

  1. Send the West Virginia deal
  2. We run the DSCR
  3. We shop lenders
  4. Appraisal confirms rent
  5. Close in your name or LLC

Documents: contract, lease or rent schedule, bank statements, LLC papers, insurance quote. No tax returns. Details.

35 states and counting

DSCR loans across the country

West Virginia is highlighted. We also lend DSCR in Pennsylvania, Maryland, Ohio and Kentucky next door, and in 30 more states. Tap a gold state to open its guide.

DSCR loans in AlabamaDSCR loans in AlaskaDSCR loans in ArizonaDSCR loans in ArkansasDSCR loans in ColoradoDSCR loans in ConnecticutDSCR loans in DelawareDSCR loans in GeorgiaDSCR loans in HawaiiDSCR loans in IndianaDSCR loans in IowaDSCR loans in KansasDSCR loans in KentuckyDSCR loans in LouisianaDSCR loans in MaineDSCR loans in MarylandDSCR loans in MassachusettsDSCR loans in MichiganDSCR loans in MississippiDSCR loans in MissouriDSCR loans in MontanaDSCR loans in New HampshireDSCR loans in New MexicoDSCR loans in North CarolinaDSCR loans in OhioDSCR loans in OklahomaDSCR loans in PennsylvaniaDSCR loans in Rhode IslandDSCR loans in South CarolinaDSCR loans in TennesseeDSCR loans in TexasDSCR loans in WashingtonDSCR loans in West Virginia (this page)DSCR loans in WisconsinDSCR loans in Wyoming
West VirginiaWe lend DSCR hereAsk us

Small states, tap to open:

CTDEMDMANHRIHI

Prefer a list? Use the state selector

Map geometry: US Census Bureau cartographic boundary files.

FAQ

West Virginia DSCR loan questions

Straight answers for investors buying or refinancing rentals in West Virginia.

PMG guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend.

Book a free call

Does Pillar Mortgage Group offer DSCR loans in West Virginia?

Yes. Purchases, rate and term and cash out refinances on West Virginia rentals, up to $5 million, in your name or an LLC. That includes Charleston, Huntington, Morgantown and Parkersburg.

How is rent set on a West Virginia DSCR loan?

The lease or the appraiser's market rent. As a benchmark, HUD puts the 2 bedroom Fair Market Rent for the Charleston metro at $1,048 a month.

How much security deposit can a West Virginia landlord take?

No cap stated. Return deadline: Within 60 days of termination of the tenancy or within 45 days of occupation by a subsequent tenant, whichever is shorter. (W. Va. Code 37-6A-1(7), 37-6A-2)

How much notice does a West Virginia landlord give for unpaid rent?

No pre filing notice to pay or quit is required by 55-3A-1. The landlord files a verified petition for summary relief stating the arrearage, the hearing is set 5 to 10 judicial days after filing, and the tenant may file a written defense within 5 days of receiving notice. (W. Va. Code 55-3A-1)

How much notice ends a month to month lease in West Virginia?

Notice for one full period before the end of any period (one month for month to month). (W. Va. Code 37-6-5)

How is a rental property taxed in West Virginia?

Property is assessed annually as of July 1 at 60 percent of true and actual value. (W. Va. Code 11-3-1)

Is West Virginia a mortgage or deed of trust state?

West Virginia closes on a deed of trust. Deed of trust (trust deed). Foreclosure: Nonjudicial: on default, the trustee sells at public auction after notice under 38-1-4, without a court proceeding. (W. Va. Code 38-1-3)

Does West Virginia charge a transfer tax when I buy a rental?

State excise tax on transfer $1.10 per $500 of value. Counties may add up to $1.65 per $500 (post July 1, 2017, with county commission approval). (W. Va. Code 11-22-2)

What does a West Virginia LLC cost?

Yes, PMG DSCR loans can close in an LLC. $100. (W. Va. Code 59-1-2(a)(1)(C)) $25. (W. Va. Code 59-1-2a(c))
Nearby states

DSCR loans in nearby states

Investing across state lines? We lend DSCR in these neighbors of West Virginia too.

Sources and review dates

Primary sources, each with the date checked. PMG program facts come from Pillar Mortgage Group.

  1. HUD FY2027 Fair Market Rent, Charleston, WV HUD Metro FMR Area: https://www.huduser.gov/datasets/fmr/fmr2027/summary?counties=5403999999&reporttype=county&states=54&year=2027&sa_override=1
  2. W. Va. Code 38-1-3: https://code.wvlegislature.gov/38-1-3/ (checked 2026-11-01)
  3. W. Va. Code 11-22-2: https://code.wvlegislature.gov/11-22-2/ (checked 2026-11-01)
  4. W. Va. Code 37-6A-1: https://code.wvlegislature.gov/37-6A-1/ (checked 2026-11-01)
  5. W. Va. Code 55-3A-1: https://code.wvlegislature.gov/55-3A-1/ (checked 2026-11-01)
  6. W. Va. Code 59-1-2: https://code.wvlegislature.gov/59-1-2/ (checked 2026-11-01)
  7. FRED MEDLISPRIWV: https://fred.stlouisfed.org/series/MEDLISPRIWV (checked 2026-11-01)
  8. Census QuickFacts West Virginia: https://www.census.gov/quickfacts/WV (checked 2026-11-01)
  9. HUD FY2027 Fair Market Rent, Huntington, Ashland, WV, KY, OH HUD Metro FMR Area: https://www.huduser.gov/datasets/fmr/fmr2027/summary?counties=5401199999&reporttype=county&states=54&year=2027&sa_override=1
  10. W. Va. Code 37-6-5: https://code.wvlegislature.gov/37-6-5/ (checked 2026-11-01)
  11. W. Va. Code 11-3-1: https://code.wvlegislature.gov/11-3-1/ (checked 2026-11-01)
  12. W. Va. Code 11-8-5: https://code.wvlegislature.gov/11-8-5/ (checked 2026-11-01)
  13. W. Va. Code 59-1-2a: https://code.wvlegislature.gov/59-1-2a/ (checked 2026-11-01)
West Virginia investors

Let the rent do the qualifying.

Send the West Virginia property and rent. We run the ratio and lay out terms before you offer.

Get Pre Approved Book a Free Call

Run My West Virginia DSCR Numbers

No commitment  ·  Under 2 minutes

Your information is never sold or shared. By submitting you authorize Pillar Mortgage Group LLC to contact you by phone, text, or email. Equal Housing Lender.

✓

Got it.

We will reach out shortly to run your numbers.

Pillar Mortgage Group, LLC is an Equal Housing Lender, doing business in accordance with the Fair Housing Act and Equal Credit Opportunity Act. Not a commitment to lend.
Company NMLS# 2700076  |  Arizona License MB-2009671  |  View NMLS Consumer Access