Capital Kings LLC · Broker, not a lenderFix and Flip Loans
in Rhode Island
$70,000 of rehab, $510,000 after repair value, a first flip at 700 credit on the First Flip, 10% Down program.
- Loan
- $369,000
- Rate
- 9.99%
- Down payment (10% of purchase plus rehab)
- $41,000
Purchase plus 100% of the rehab budget for Rhode Island flips, funded through draws, with a term sheet before you commit. First flips welcome from 660 credit, 0% down once you have 2 completed flips and the deal fits under 70% of ARV. We broker Providence, Warwick, Cranston and every county in between.
Prefer to talk it through? Call or text Micah at (281) 636-5682.
What are fix and flip loan terms in Rhode Island right now?
These are the terms on the programs we are quoting right now. Your actual terms depend on the property, your credit and your experience, and the term sheet shows the real numbers before you commit.
- Rates from (2+ completed flips)
- 9.00%
- Down on a first flip (of purchase + rehab); 0% with 2+ completed flips under 70% of ARV
- 10%
- Rehab funded via draws
- 100%
- Max loan
- 75% ARV
- Interest-only term, by program
- 9-24 mo
- To fund, by program
- 7-30 days
Rhode Island fix and flip terms as of October 2026
These use the same math as our term sheets. Final terms depend on the property, your credit and experience, and what the lender approves. Read the full fix and flip guide for how the program works deal by deal.
Purchase plus 100% of the rehab budget, funded through draws. The program you land on depends on credit and how many flips you have completed.
Lowest rate on a first flip, least down on a first flip
- Program
- First Flip, 10% Down
- Down payment
- 10%
- Min credit
- 660+
- Experience
- First flip OK
- Rate
- 9.99%
- Max loan
- 75% of ARV
- Close
- 21-30 days
Least down with completed flips
- Program
- 100% Financing, 2+ Flips
- Down payment
- 0% (100% financing)
- Min credit
- 620+
- Experience
- 2+ completed flips
- Rate
- 9.50% to 12.00%
- Max loan
- 70% of ARV
- Close
- 7-14 days
See all 5 programs
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Experienced Investor Rate1 | 15% of purchase | 680+ | 2+ completed flips | 9.00% | 0.75% | 75% of ARV | 12-24 months | 7-14 days |
| First Flip, 10% Down2 | 10% of purchase + rehab | 660+ | First flip OK | 9.99% | 2% to 2.25% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips3 | 7.5% of purchase + rehab | 660+ | 3+ completed flips | 9.99% | 1.5% to 1.75% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 5+ Flips4 | 5% of purchase | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips5 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
Program notes (5)
- Rate and origination are the program floor; two completed projects in the last 36 months preferred.
- Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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 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% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.
First flip in Providence, 700 credit
- Loan amount
- $369,000
- Down payment (10% of purchase plus rehab)
- $41,000
- Rate
- 9.99%
- Origination (2.125%)
- $7,841
- Broker fee
- $3,690
- Lender fees
- $2,790
- Title, insurance, appraisal, prepaid interest
- $9,832
- Estimated cash to close
- $65,153
- Cash the lender wants to see in the bank
- $102,485
- Interest per month while you rehab
- $2,489
Sized to the Rhode Island market: the typical Rhode Island home is worth about $511,233 and a starter home about $384,108 (Zillow Home Value Index, August 2026). Single family homes sold in a median of 23 days with 2.4 months of supply (Redfin, May 2026). So the example buys at about two thirds of the typical value, budgets a mid-range rehab and resells at the typical value.
Estimates on Capital Kings terms as of October 2026. Cash to close includes down payment, origination, broker fee, the lender's own fees (processing, underwriting, legal or doc prep), title, prepaid interest, insurance and appraisal. Rehab is funded 100% through draws on every program, but draws pay you back after each phase is done, so the lender also wants to see enough in the bank to front the first phase and cover a few months of payments. That is the bank figure on each card, and it is not money you spend at closing. Title is estimated from Texas title rates; your Rhode Island title company quotes the real number.
What do you need to apply in Rhode Island?
- Purchase contract
- Rehab budget or scope of work
- Two months of bank statements showing the cash to close
- Government ID
- LLC documents if you are closing in an entity
How long does a fix and flip loan take in Rhode Island?
Send the deal by text or through the application: address, purchase price, rehab budget, ARV and your credit range. We take it to the lenders that fund Rhode Island flips at your credit and experience, and you get a term sheet with every fee before you commit. In Rhode Island, the fastest programs for investors with 2+ completed flips close in 7-14 days once the file is complete, and a first flip on the First Flip, 10% Down program closes in 21-30 days. Rehab money is released in draws as each stage is inspected.
Rhode Island, city by city
The Rhode Island markets we fund most. Not on the map? We broker every county in the state, so send the deal and we place it.
What do common deals cost to close?
Each question has its own page with the worked example line by line and the sample term sheet. The figure is the answer on that page.
Questions about loans in Rhode Island
How much down payment do I need for a fix and flip loan in Rhode Island?
What credit score do I need for a Rhode Island fix and flip loan?
How much cash do I need to close a $340,000 flip in Rhode Island?
Does the loan cover the rehab budget?
How fast can a Rhode Island fix and flip loan close?
Is Capital Kings a direct lender in Rhode Island?
What else do we fund in Rhode Island?
How do these loans actually work?
These guides use Texas deals for their examples, but the way the loans work, what lenders check and how to compare offers is the same on a Rhode Island deal.
Next to Rhode Island, we also lend in Massachusetts and Connecticut. See all 38 states we lend in →
Ready to fund your Rhode Island deal?
Text us the deal or send it through the application. We run it past the lenders that fit and send back a term sheet on your actual numbers, no full application needed to get started.