Commercial
Owner Occupied Commercial Real Estate in Richmond, VA
With 229,359 residents, Richmond, VA is a mid-sized city in Richmond City, and Custom Mortgage arranges Owner Occupied Commercial Real Estate loans there, including The Fan and Church Hill. Richmond's median home value of $353,000 tracks the Richmond City median of $353,000 closely (Census ACS 2020-2024 5-year). Richmond City's 2026 conforming limit, $832,750, is 2.4 times that median, so loan size seldom binds.
Households in Richmond earn a median $64,587 a year. Renters are the majority: just 44% of occupied homes are owner-occupied. Half the housing was built before 1960, so appraisals and inspections often turn on the condition of older systems. For the renter majority, the benchmark is a median gross rent of $1,372 a month.
Owner Occupied Commercial Real Estate Highlights
- Competitive rates to help you manage your cash flow.
- Build equity in a valuable asset and secure your business's future.
- Take advantage of potential tax benefits associated with commercial property ownership.
National Rate Index (Freddie Mac PMMS)
30-Year Fixed Rate
7.18%
as of 11/5/2026 · Freddie Mac PMMS · live · 2026-11-05
15-Year Fixed Rate
6.57%
as of 11/5/2026 · Freddie Mac PMMS · live · 2026-11-05
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Market-data snapshots: FHFA 2026 (live); HUD FYunavailable (bundled); Census ACS 2024 (bundled).
Richmond City at a glance
- Richmond median home value
- $353,000
- Source: Census ACS 5-year, Richmond city, Virginia, 2020-2024
- Richmond median household income
- $64,587
- Source: Census ACS 5-year, Richmond city, Virginia, 2020-2024
- Richmond owner-occupied homes
- 44%
- Source: Census ACS 5-year, Richmond city, Virginia, 2020-2024
- Richmond median year built
- 1959
- Source: Census ACS 5-year, Richmond city, Virginia, 2020-2024
- Conforming loan limit (1 unit)
- $832,750
- Source: FHFA, 2026
- Conforming loan limit (4 units)
- $1,601,750
- Source: FHFA, 2026
- Median owner-occupied home value
- $353,000
- Source: Census ACS 5-year, 2024
- Median household income
- $64,587
- Source: Census ACS 5-year, 2024
- Owner-occupied homes
- 44%
- Source: Census ACS 5-year, 2024
- Home value to income ratio
- 5.5
- Source: Census ACS 5-year (computed), 2024
2026 Conforming Loan Limits: RICHMOND CITY
1-Unit (SFR)
$832,750
2-Unit (Duplex)
$1,066,250
3-Unit (Triplex)
$1,288,800
4-Unit (Fourplex)
$1,601,750
Source: FHFA 2026 Conforming Loan Limits. Loans above these limits require jumbo financing.
Owner Occupied Commercial Real Estate in Richmond, VA
Richmond VA mortgage lending. Conventional, FHA, and VA programs for Central Virginia.Custom Mortgage & Real Estate specializes in providing high-fidelity Owner Occupied Commercial Real Estate solutions tailored to the unique economic landscape of Richmond and the surrounding Richmond City.
Our FinTech-driven approach allows us to offer competitive rates and streamlined processing for homeowners and investors across the entireRichmond metropolitan area.
Service Areas & Neighborhoods
Our Richmond Presence
Local Knowledge. Global Rates.
16501 Ventura Blvd STE 400
Encino, CA 91436
Direct Line
877-976-5669Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
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Step 1: Loan Foundation
Mortgage Estimator
Freddie Mac 30-yr average, week of Apr 19, 2026. Not a quote.
Principal & Interest Only
Common Questions About Owner Occupied Commercial Real Estate in Richmond
Yes, by $479,750: $353,000 median versus a $832,750 one-unit limit.
At least $88,250 before closing costs (75% maximum LTV on $353,000). That is 1.3 years of a $64,587 median income.
5.5 times the $64,587 median household income, about the same as across Richmond City. Debt-to-income limits usually set the loan size.
See all Owner Occupied Commercial Real Estate questions and program details
Owner Occupied Commercial Real Estate by Location
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Browse All Territories →Reviewed by Eve Sanchez, Chief Compliance Officer · Updated 2026-11-04 · Custom Mortgage Inc., NMLS #1556995
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
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"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
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"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
