Hard Money Lenders in East Providence, RI | Fix & Flip Loans | Capital Kings LLC
Broker, not a lender

Hard Money Lenders inEast Providence, Rhode Island

Fix and flip, DSCR rental and new construction financing for East Providence investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.

Get a term sheet →Price an East Providence deal

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO · October 2026
How we work

What you get working with us

400+
Lenders we shop your deal across
7-30
Days to fund, by program
100%
Of rehab funded, released in draws
9.00%
Rates from, in Rhode Island, with 2+ completed flips
Run the numbers

Price an East Providence deal right now

Prefilled with a realistic East Providence deal. Change any number and it reprices instantly on the lanes licensed in Rhode Island, using the same engine behind our term sheets.

Enter your numbers to see the program, loan size and cash to close.
Get a real term sheet →Same math as our term sheet. No credit pull, nothing saved.
The market

Financing a deal in East Providence

East Providence sits across the Seekonk and Providence rivers from the capital, close enough to drive downtown in minutes, and it has the feel of a suburb with an old industrial edge. Rumford has older colonials and Victorians, Riverside along the bay has cottages, capes and the Crescent Park carousel, and Kent Heights, Watchemoket and the central neighborhoods are mostly capes, ranches and small multifamily from the middle of the last century. There are long standing Portuguese and Cape Verdean communities here.

East Providence is a value play next to a more expensive Providence East Side, and buyers who cannot afford across the river look here. The flips are mostly midcentury capes and ranches that need full updates, plus some older homes in Rumford and Riverside with more character and more scope. The I-195 Washington Bridge rebuild has made the commute into Providence harder, which some buyers weigh, so price the finished house on today’s sales.

A real term sheet

What an East Providence deal looks like on paper

East Providence example: $300,000 purchase, $70,000 rehab, $505,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Picture a 1950s Kent Heights cape with an aging furnace, a small kitchen, a single bath and an attic with room for a second. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$333,000
Cash to close$59,609
Proof of funds to show$95,142
Where the $59,609 goes
  • Down payment (10% of purchase plus rehab)You$37,000
  • Origination (2.13%)Lender$7,076
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$3,330
  • Title and closing (estimate at Texas rates)Title$3,981
  • Prepaid interest (15 days)Lender$1,367
  • Property insuranceInsurer$3,515
  • AppraisalAppraiser$550

Interest while you rehab: $2,189 a month on the $263,000 funded at closing, $2,772 once every draw is out. Proof of funds is cash to close plus $18,900 of rehab reserve and $16,633 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Programs

What we can fund in East Providence

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Experienced Investor Rate115%680+2+ completed flips9.00%0.75%75% of ARV12-24 months7-14 days
First Flip, 10% Down210%660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips37.5%660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 3+ Flips45%600+3+ completed flips12.00%2%75% of ARV12 months7-14 days
5% Down, 5+ Flips55%660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips60% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
  1. Rate and origination are the program floor; two completed projects in the last 36 months preferred.
  2. Rate 9.99% at 2 to 2.25 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  3. Rate 9.99% at 1.5 to 1.75 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  4. Rate from 12%, set per file. Origination steps down with experience: 1.5% at 5+ deals, 1% at 8+.
  5. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  6. Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% and 2 to 3 points, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on every program and the broker fee is 1% with a $2,000 minimum. These are the numbers the instant term sheet uses as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

What we check first

Where East Providence prices sit right now

Before we price an East Providence flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.

Redfin puts the East Providence median sale price at $460,000 over the three months through September 2026, up 8.2% from a year earlier, with homes selling in about 25 days, around two offers per home and 147 sales in September.

Median sale price, East Providence (Redfin, 3 months to Sep 2026)$460,000
Days on market, East Providence (Redfin)25
Average offers per home (Redfin)2
Homes sold in September 2026 (Redfin)147
Share of properties at severe 30-year flood risk (First Street via Redfin)4%

Sources: Redfin, East Providence RI housing market

Underwriting

How an East Providence file actually gets priced

Sales volume is moderate, so the appraiser usually has comps, but Rumford and Riverside price differently from the central neighborhoods. We comp within the same area and style and leave Providence East Side sales out of the set, since the river is a price line. Waterfront and bay side homes in Riverside need comps that share their flood and insurance profile.

Redfin’s First Street data puts about 4% of East Providence properties at severe 30 year flood risk, and Riverside and the waterfront along the bay and the rivers carry most of it, so check the zone and the premium on any lot near the water, and coastal work can need a state coastal permit. The housing is mostly older, so plan lead safe work, and Rhode Island requires a lead certificate on most pre-1978 rentals.

The exit

Who buys your finished East Providence deal

The finished East Providence house sells to Rhode Island families, first time buyers and Providence workers who want a yard and a shorter commute than the farther suburbs. They buy on condition and payment. Small multifamily sells to owner occupants and investors, and with Providence area rents strong, a DSCR refinance is a practical second exit.

After you apply

Your whole loan, in one portal

Apply once and the whole East Providence loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.
What happens after you apply →Tour the borrower portal
Loan products

What we fund in East Providence

Fix & Flip

Purchase plus 100% of rehab, released in draws. The core product in East Providence.

15% down from 9.00% at 680+ credit with 2+ completed flips · 10% down from 9.99% at 660+ credit on a first flip

DSCR Rental

Qualifies on the property’s rent, not your W-2. The usual exit when a flip becomes a hold, and the long-term financing on a BRRRR.

30-year · no income docs

New Construction

Ground-up for builders and infill developers, with a draw schedule matched to the build timeline.

Land + build financing
Coverage

Where we lend in East Providence

We broker deals across the whole East Providence market. These are the submarkets investors ask us about most:

Watchemoket and the waterfront (02914)Kent Heights (02914)Rumford (02916)Riverside (02915)Phillipsdale (02914)Six Corners and Taunton Avenue (02914)
Process

From deal to funded

01

Send the deal

Address, purchase price, rehab budget and your ARV. Three minutes, no credit pull.

02

We shop it

Your scenario goes to the lenders in our network that actually fit it and are licensed in Rhode Island, not all 400 at once.

03

Real terms back

Rate, origination, leverage and cash to close side by side, so you can compare on total cost.

04

Close

Plan on 7-14 days with completed flips and 21-30 days on a first flip. We stay on title and the lender through funding.

Questions

East Providence hard money FAQ

Do you lend hard money in East Providence?
Yes. Capital Kings is a broker, not a direct lender, so we shop your East Providence scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in Rhode Island, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in East Providence?
As of October 2026: Experienced Investor Rate (15% down, from 9.00%, 2+ completed flips); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 3+ Flips (5% down, from 12.00%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can an East Providence hard money loan close?
In Rhode Island, once the file is complete, the programs for investors with completed flips close in 7-14 days (10-14 on 5% down with 5+ flips, 21-30 on 7.5% down with 3+ flips) and a first flip on the 10% down program closes in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on an East Providence flip?
The worked example on this page is a $300,000 East Providence purchase with a $70,000 rehab and a $505,000 after repair value at 730 credit, first flip: $37,000 down (10% of purchase plus rehab) and $59,609 total cash to close, with $95,142 of proof of funds to show the lender. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in East Providence?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for an East Providence fix and flip loan?
The lowest credit floor among the East Providence programs is 600, on 5% down with 3+ completed flips. A first flip needs 660 or higher. The lowest rate here, 9.00%, needs 680+ credit and 2+ completed flips. Depending on the program, origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance an East Providence flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way an East Providence flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Can I finance a first flip in East Providence?
Yes. In Rhode Island a first flip can be priced at 10% down with 660+ credit (from 9.99%). The worked example on this page is priced as a first deal. Programs that need completed flips: 15% down from 9.00% with 2+ flips; 7.5% down from 9.99% with 3+ flips; 5% down from 12.00% with 3+ flips or from 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV.
Does the Washington Bridge work affect an East Providence flip?
It affects the commute, which affects some buyers. The westbound I-195 bridge into Providence is being rebuilt, and drivers have dealt with detours and delays. Price your finished house on recent East Providence sales, which already reflect it, rather than on what the area might bring once the work is done.
Who you are working with
Micah Foster
Founder & CEO
Micah Foster
Micah brokers Non-QM and hard money loans for real estate investors across 37 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.
Send Micah your East Providence deal →
Keep reading

Before you sign anything

Cash Needed
Cash to close on a flip: the number most investors miss
Read article →
Term Sheet
How to get an instant hard money term sheet
Read article →
Broker
Direct hard money lender vs broker: the honest breakdown
Read article →
Hard Money
Points, fees & rate: how to compare hard money lenders
Read article →
Hard money in Providence →Hard money in Pawtucket →Hard money in Warwick →All Rhode Island coverage →

Ready to fund your East Providence deal?

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