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

Hard Money Lenders inWarwick, Rhode Island

Fix and flip, DSCR rental and new construction financing for Warwick 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 a Warwick 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 a Warwick deal right now

Prefilled with a realistic Warwick 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 Warwick

Warwick is Rhode Island’s second largest city, a long coastal suburb on Narragansett Bay with the state airport in the middle of it. Most of its housing is postwar: capes, ranches and raised ranches built for families who worked in Providence, plus former summer cottages near the water in Oakland Beach and Conimicut that became year round homes. Warwick Neck and Cowesett are the upscale ends.

Warwick is a suburban flip market with a coastal twist. The ranches and capes inland are straightforward updates: kitchens, baths, roofs, siding, heat. The waterfront neighborhoods are where both the upside and the risk live, because converted cottages can be small, sit low, and come with flood insurance that the next buyer has to carry. A good Warwick deal is a house the market has passed over, not one sitting in the water.

A real term sheet

What a Warwick deal looks like on paper

Warwick example: $310,000 purchase, $70,000 rehab, $520,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Say a 1950s Conimicut ranch with an old oil furnace, a dated kitchen and bath, tired siding and a crawlspace that needs attention. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$342,000
Cash to close$61,067
Proof of funds to show$97,050
Where the $61,067 goes
  • Down payment (10% of purchase plus rehab)You$38,000
  • Origination (2.13%)Lender$7,268
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$3,420
  • Title and closing (estimate at Texas rates)Title$4,025
  • Prepaid interest (15 days)Lender$1,404
  • Property insuranceInsurer$3,610
  • AppraisalAppraiser$550

Interest while you rehab: $2,264 a month on the $272,000 funded at closing, $2,847 once every draw is out. Proof of funds is cash to close plus $18,900 of rehab reserve and $17,083 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 Warwick

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 Warwick prices sit right now

Before we price a Warwick 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 Warwick median sale price at $435,000 over the three months through September 2026, up 0.6% from a year earlier, with homes selling in about 27 days, around two offers per home and 338 sales in September.

Median sale price, Warwick (Redfin, 3 months to Sep 2026)$435,000
Days on market, Warwick (Redfin)27
Average offers per home (Redfin)2
Homes sold in September 2026 (Redfin)338
Share of properties at severe 30-year flood risk (First Street via Redfin)15%

Sources: Redfin, Warwick RI housing market

Underwriting

How a Warwick file actually gets priced

Warwick has plenty of sales of similar postwar homes, so the comp set is usually solid. The trick is location: a cottage in Oakland Beach and a ranch in Norwood are different buyers, and Warwick Neck prices far above both. We value from renovated sales on the same side of the city and keep flood zone homes compared with other flood zone homes, since insurance cost shows up in the price.

Flood risk is Warwick’s defining issue. Redfin’s First Street data puts about 15% of properties at severe 30 year flood risk, along the bay shoreline and the Pawtuxet River, which flooded badly in 2010. Get the flood zone and an insurance quote before you offer. Work near the shoreline can fall under the state Coastal Resources Management Council, which adds a permit on top of the city’s. Rhode Island also requires a lead certificate on most pre-1978 rentals.

The exit

Who buys your finished Warwick deal

The finished Warwick house sells to Rhode Island families and first time buyers who want a yard and an easy drive to Providence, plus buyers who want to live near the water. They buy on condition and payment, and a high flood premium can cut your buyer pool. Single family rentals and small multifamily here can carry a DSCR loan, which gives you a hold option.

After you apply

Your whole loan, in one portal

Apply once and the whole Warwick 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 Warwick

Fix & Flip

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

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 Warwick

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

Conimicut and Shawomet (02889)Oakland Beach (02889)Gaspee and Pawtuxet Village (02888 / 02889)Apponaug and Cowesett (02886)Norwood and Lakewood (02888)Warwick Neck (02889)
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

Warwick hard money FAQ

Do you lend hard money in Warwick?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Warwick 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 Warwick?
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 a Warwick 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 a Warwick flip?
The worked example on this page is a $310,000 Warwick purchase with a $70,000 rehab and a $520,000 after repair value at 730 credit, first flip: $38,000 down (10% of purchase plus rehab) and $61,067 total cash to close, with $97,050 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 Warwick?
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 a Warwick fix and flip loan?
The lowest credit floor among the Warwick 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 a Warwick flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Warwick 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 Warwick?
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.
What should I check on a Warwick waterfront flip?
The flood zone, the insurance premium, the elevation and whether the work needs a coastal permit. Redfin’s First Street data puts about 15% of Warwick properties at severe 30 year flood risk. A large renovation in a flood zone can also trigger rules that require raising the house, so ask before you set the scope.
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 Warwick deal →
Keep reading

Before you sign anything

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 →
Draws
How construction draws and the rehab holdback actually work
Read article →
Hard money in Cranston →Hard money in Providence →Hard money in East Providence →All Rhode Island coverage →

Ready to fund your Warwick deal?

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