West Virginia is one of the 30 states this program covers. Twelve months of
deposits through a read-only bank connection, no tax returns, fixed rate per draw, first, second
or third lien position, lines from $25,000. Korbin Spangenthal is licensed to originate in West
Virginia. Application and closing are electronic.
Who is self-employed in West Virginia
- Energy contractors. Pipeline, well-site and mine-services companies and 1099 specialists in the northern gas counties and the southern coalfields, paid on contract and carrying heavy equipment write-offs. Royalty owners with monthly checks that follow the gas price.
- The Gorge and the mountains. Rafting outfitters, guides, climbing and lodging businesses around Fayetteville, and the vacation-rental owners who came with the national park designation — seasonal income from April to October.
- Remote professionals who relocated to Morgantown, Lewisburg or the Eastern Panhandle with a consulting business, some through the state's relocation program.
- Trades and truckers statewide, and the practices of Charleston, Huntington and Morgantown.
What is specific to a West Virginia file
- No mortgage recording tax. West Virginia's excise tax applies to the transfer of property by deed. Recording a home equity line involves county clerk fees only.
- Smaller lines are normal here and fully served. The program starts at $25,000, and most West Virginia lines fall under $400,000, where an automated valuation usually suffices — with the caveat below.
- Valuation. Morgantown, Charleston, Huntington and the Eastern Panhandle have reasonable automated-valuation data. In many rural counties comparable sales are thin, so expect a valuation step involving a person even on a small line.
- Flood zones. On property in the river valleys hit by the 2016 and later floods, flood coverage is confirmed and any unrepaired damage or open claim is resolved first.
- Older housing gets a property review, not an income review. Condition and insurance are confirmed; age alone is not an issue.
The outfitter's season
A rafting company earns from the spring release through Gauley season and closes for the winter. The return, after rafts, buses and insurance, shows a modest net. A bank divides it by twelve and declines. Twelve consecutive months of deposits show the season in context and the line is sized from the actual cash.
Timeline. A clean West Virginia file can fund in as little as five days,
including the three-day right to cancel on a primary residence.
Common questions
My equity is modest — is a small line worth it here?
Lines start at $25,000, so a smaller line is a normal file, not a special one.
Do my gas royalties count as income?
Yes. Monthly royalty deposits are income like any other deposit.
Is there a West Virginia tax when the lien is recorded?
No. The excise tax applies to deeds. A home equity line involves county clerk recording fees only.
Our house is in a county with few recent sales. Does that slow things?
It makes a valuation involving a person more likely, which adds scheduling time. It is not a barrier.