Broker, not a lenderHard Money Lenders inProvidence, Rhode Island
Fix and flip, DSCR rental and new construction financing for 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.
Prefer to talk it through? Call or text Micah at (281) 636-5682.
What you get working with us
Price a Providence deal right now
Prefilled with a realistic Providence deal. Change any number and it reprices instantly on the lanes licensed in Rhode Island, using the same engine behind our term sheets.
Financing a deal in Providence
Providence is the capital and the center of a metro that reaches into Massachusetts, with Brown, RISD, the hospitals and state government as its anchors and a commuter train to Boston. Its housing is dense and old. The Providence triple decker and the two family fill Olneyville, the West End, Elmwood, Silver Lake and South Providence, the East Side is Colonial and Victorian homes in historic districts, and Elmhurst and Mount Pleasant on the north side have colonials and capes from the 1920s to the 1950s.
Providence runs on multifamily. A lot of investor money goes into two and three family buildings, renovated and either sold to owner occupants or held for rent, and Boston area buyers and landlords keep demand strong. Single family flips cluster in Elmhurst, Mount Pleasant and the North End. The scope is old house work: steam heat, wiring, porches, lead paint, and in multifamily, fire separation and egress. Prices are steady and homes still draw several offers, so speed on the purchase matters.
What a Providence deal looks like on paper
Providence example: $330,000 purchase, $85,000 rehab, $580,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Think a 1920s Elmhurst colonial with a steam boiler, knob and tube in the attic, a kitchen from the 1970s and one bath for three bedrooms. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.
- Down payment (10% of purchase plus rehab)You$41,500
- Origination (2.13%)Lender$7,937
- Lender fees (flat)Lender$2,790
- Broker fee (1%)Broker$3,735
- Title and closing (estimate at Texas rates)Title$4,181
- Prepaid interest (15 days)Lender$1,533
- Property insuranceInsurer$3,943
- AppraisalAppraiser$550
Interest while you rehab: $2,402 a month on the $288,500 funded at closing, $3,109 once every draw is out. Proof of funds is cash to close plus $21,250 of rehab reserve and $18,656 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.
What we can fund in Providence
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Experienced Investor Rate1 | 15% | 680+ | 2+ completed flips | 9.00% | 0.75% | 75% of ARV | 12-24 months | 7-14 days |
| First Flip, 10% Down2 | 10% | 660+ | First flip OK | 9.99% | 2% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips3 | 7.5% | 660+ | 3+ completed flips | 9.99% | 1.5% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 3+ Flips4 | 5% | 600+ | 3+ completed flips | 12.00% | 2% | 75% of ARV | 12 months | 7-14 days |
| 5% Down, 5+ Flips5 | 5% | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips6 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
- Rate and origination are the program floor; two completed projects in the last 36 months preferred.
- 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.
- 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.
- Rate from 12%, set per file. Origination steps down with experience: 1.5% at 5+ deals, 1% at 8+.
- Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
- 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.
Where Providence prices sit right now
Before we price a 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 Providence median sale price at $552,000 over the three months through September 2026, down 0.59% from a year earlier, with homes selling in about 30 days, around three offers per home and 362 sales in September.
| Median sale price, Providence (Redfin, 3 months to Sep 2026) | $552,000 |
| Days on market, Providence (Redfin) | 30 |
| Average offers per home (Redfin) | 3 |
| Homes sold in September 2026 (Redfin) | 362 |
| Share of properties at severe 30-year flood risk (First Street via Redfin) | 4% |
Sources: Redfin, Providence RI housing market
How a Providence file actually gets priced
Providence values swing by neighborhood more than almost anywhere in New England. An East Side single, an Elmhurst colonial and a West End triple decker are three different markets, and a citywide median says little about any of them. We value singles from renovated sales in the same neighborhood and multifamily on comparable buildings plus market rent per unit. Price per square foot fell over the year even as the median held, a sign that condition and location are doing the work.
Redfin’s First Street data puts about 4% of Providence properties at severe 30 year flood risk, mainly near the Woonasquatucket and Moshassuck rivers and the low ground by the harbor; the Fox Point hurricane barrier protects downtown. Rhode Island’s lead law requires a lead certificate for most pre-1978 rental units, so a multifamily you might rent needs lead work planned in. East Side and other historic districts send exterior changes through the Historic District Commission.
Who buys your finished Providence deal
The finished Providence single sells to local professionals, hospital and university staff, and buyers coming down from the Boston area for lower prices. Renovated two and three families sell to owner occupants, often first time buyers who live in one unit and use the rent, and to investors. Rents are strong, so a DSCR refinance on a triple decker is a common exit, and we price it alongside the sale.
Your whole loan, in one portal
Apply once and the whole 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.
What we fund in Providence
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Providence.
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.
New Construction
Ground-up for builders and infill developers, with a draw schedule matched to the build timeline.
Where we lend in Providence
We broker deals across the whole Providence market. These are the submarkets investors ask us about most:
From deal to funded
Send the deal
Address, purchase price, rehab budget and your ARV. Three minutes, no credit pull.
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.
Real terms back
Rate, origination, leverage and cash to close side by side, so you can compare on total cost.
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.
Providence hard money FAQ
Do you lend hard money in Providence?
Which fix and flip programs apply in Providence?
How fast can a Providence hard money loan close?
How much do I need to bring to close on a Providence flip?
Do you fund the rehab budget in Providence?
What credit score do I need for a Providence fix and flip loan?
Can I refinance a Providence flip into a rental loan?
Can I get a first flip financed in Providence?
Do I need a lead certificate for a Providence rental?
Ready to fund your Providence deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.