Hard Money Lenders in Dover, DE | Fix & Flip | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inDover, Delaware

Fix and flip, DSCR rental and new construction financing for Dover 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 Dover deal

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

Reviewed by Micah Foster, Founder & CEO, October 2026

Price a Dover deal right now

Prefilled with a realistic Dover deal. Change any number and it reprices on the programs that lend in Delaware, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

Financing a deal in Dover

Dover is the state capital and the center of Kent County, and its housing is mostly what you’d expect from a government and military town: 1950s to 1970s brick ranches and split levels, a ring of newer subdivisions, and a core of Victorian houses downtown. Dover Air Force Base, Delaware State University, the state offices and the hospital keep renters and buyers coming. In Delaware a first flip can be priced at 10% down with 660+ credit (from 9.99%). 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 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV.

Dover is a steady market rather than a hot one. Redfin has prices up a few percent on a year ago, with homes selling in about a month, and that pace is the thing to underwrite. A clean ranch near the base or the hospital sells to a buyer who needs to move on a schedule, often with VA or FHA financing. What sinks a Dover flip is overpaying for a house that needs a full system replacement and then pricing it above what the subdivision has ever sold for.

What a Dover deal looks like on paper

Dover example: $175,000 purchase, $50,000 rehab, $315,000 after repair value, 700 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Think a 1960s brick ranch in Rodney Village: kitchen, bath, flooring, a new heat pump, and a roof that has seen its last storm. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$202,500
Cash to close$38,268
Proof of funds to show$61,883
Where the $38,268 goes
  • Down payment (10% of purchase plus rehab)You$22,500
  • Origination (2.13%)Lender$4,303
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$2,025
  • Title and closing (estimate at Texas rates)Title$3,336
  • Prepaid interest (15 days)Lender$626
  • Property insuranceInsurer$2,138
  • AppraisalAppraiser$550

Interest while you rehab: $1,270 a month on the $152,500 funded at closing, $1,686 once every draw is out. Proof of funds is cash to close plus $13,500 of rehab reserve and $10,115 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Fix and flip programs in Dover

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Experienced Investor Rate115% of purchase680+2+ completed flips9.00%0.75%75% of ARV12-24 months7-14 days
First Flip, 10% Down210% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips37.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips45% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips50% (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% 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.
  3. 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.
  4. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  5. 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.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Where Dover prices sit right now

Before we price a Dover 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 Dover median sale price at $300K for the three months ending September 2026, up 2.9% on a year earlier, with homes selling in about 33 days.

Median sale price, Dover (Redfin, 3 months to Sep 2026)$300,000
Change on a year earlier (Redfin)Up 2.9%
Days on market, Dover (Redfin)33

Sources: Redfin, Dover DE housing market, City of Dover, Safe Communities rental program (Rental Dwelling Permit)

How a Dover file actually gets priced

The Dover ARV comes from renovated houses in the same subdivision or the same corner of town, sold recently. A ranch in Rodney Village isn’t compared to a new build in Camden, and the Victorian blocks downtown run on their own logic. Expect a lot of VA and FHA appraisals on the resale, and those appraisers flag peeling paint, missing handrails and old electrical panels, so a cheap fix left undone can stall your buyer’s loan. Delaware settlements are run by Delaware attorneys, so the closing lives at a law office, not a title company counter.

The common Dover scope is mechanical: original heat pumps and oil furnaces at the end of their life, aging septic or sewer laterals on the edges of town, and roofs on houses that have sat for years. Low ground along the St. Jones River and the ponds sits in flood zones, so check the map before you bid. If you hold the house, the City of Dover issues rental dwelling permits and its code enforcement office inspects rentals against the property maintenance code, so budget for that inspection.

Who buys your finished Dover deal

The Dover buyer is a service member on orders, a state worker, a hospital employee or a young family from Kent County. They want a move-in ready house with a working HVAC system more than designer finishes. Rentals around the base and the university lease well, so a house that doesn’t sell at your number can be leased and refinanced into a DSCR loan (a rental loan qualified on the rent, not your tax returns).

What happens after you apply

Apply once and the whole Dover 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.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Dover

Fix and flip

10%down on a first flip
Rates
from 9.00% at 680+ credit with 2+ completed flips
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Delaware →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Delaware →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Delaware →

Where we lend in Dover

We broker deals across the whole Dover market. The submarkets investors ask us about most are Downtown and the Victorian Dover Historic District (19901), Rodney Village and South Dover (19901), West Dover (19904), Camden and Wyoming (19934) and North Dover toward Cheswold (19904).

How long does a Dover loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Delaware, and the rate, origination, leverage and cash to close come back side by side. 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.

Dover hard money FAQ

Do you lend hard money in Dover?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Dover 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 Delaware, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Dover?
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, 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 Dover hard money loan close?
In Delaware, 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 Dover flip?
The worked example on this page is a $175,000 Dover purchase with a $50,000 rehab and a $315,000 after repair value at 700 credit, first flip: $22,500 down (10% of purchase plus rehab) and $38,268 total cash to close, with $61,883 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 Dover?
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 Dover fix and flip loan?
The lowest credit floor among the Dover programs is 620, on 100% financing (under 70% of ARV) with 2+ 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 Dover flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Dover 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.
Will a VA or FHA buyer’s appraisal affect my Dover flip?
Often it will. A lot of Dover buyers use VA or FHA loans, and those appraisers check condition as well as value: peeling paint, missing handrails, a bad roof or an old electric panel can hold up the sale. Finish the safety items in your scope, not just the kitchen. That keeps the resale on schedule and the hard money loan from running long.
Can a first-time investor finance a flip in Dover?
Yes. In Delaware a first flip can be priced at 10% down with 660+ credit (from 9.99%). 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 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV. Bring a written contractor bid and photos of the mechanicals; in Dover’s ranches the HVAC and roof are where a first budget usually breaks.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 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.

What to read before you sign a term sheet

Hard money near Dover: Smyrna and Middletown. More Delaware city guides: Newark and Wilmington. Or see everything we fund in Delaware.

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