Dominion Financial

About Dominion Financial

Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C (with the exception of Nevada). For Fix & Flip, call today to get pre-approved for your investor line of credit. Up to 90% of purchase price, 100% of rehab, and 70% of ARV. We want you to be able to pull the trigger and fund your deal within DAYS of finding it. Closings as fast as you can get title work, no upfront fees, no appraisal requirements, nationally-competitive rates.

Loan Types Offered: Fix and Flip Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family, Multi Family, Apartment, Retail, Hotel, Mixed Use, Land

Areas Served: AK, AL, CO, CT, DC, DE, FL, GA, HI, IL, IN, KS, KY, LA, MA, MD, MI, MO, NC, NE, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, VA, WA, WI, WV, WY, VT, AR, CA, AZ, IA, ME, ID, MN, MS, MT, ND, SD, UT, OR

Lending Guidelines for Dominion Financial

Below are the general loan guidelines published on the Dominion Financial website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Dominion Financial.

Loan Example 1

Ray takes a fix-and-flip loan from Dominion Financial in order to remodel a townhouse to resale in Houston, TX. The list price of the property is $300,000. Because the lender sets a 50% loan to value, Ray will need to put 50% down so the principle amount of the loan will be $150,000. The parameters of the loan dictate a 8% note for 6 months. They also require a 3 point origination fee, that will also be paid upon closing.

Ray will need to contribute $150,000 at the closing (50% on the 50% loan to value), plus he will pay the $4,500 origination fee. The monthly interest-only payments will then be $1,000 to Dominion Financial. Ray's intention is to finish the renovation by the end of the 6 months and sell it for $360,000. If he succeeds he will earn a profit of $49,500 ($360,000 price - $150,000 principle amount - $150,000 funds brough to closing - $4,500 origination points - $6,000 in interest.

Loan Example 2

Jeremy takes a fix and flip loan from Dominion Financial in order to rehab a house to flip in Houston, TX. The deal has the following parameters:

a) A $280,000 purchase price, b) a 65% loan to value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 3% origination fee.

Based on a $350,000 sales price after the 6 month term, the numbers for this project would look like this:

$350,000 sales price
- $182,000 principle (65% LTV)
- $98,000 cash paid at closing (35% on 65% LTV)
- $5,460 origination fee (3% of the $182,000 principle)
- $7,280 interest payments (6 months x 8% interest)
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= $57,260 gross profit (does not include taxes or rehab costs)