Hard Money Lenders in Pawtucket, RI | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inPawtucket, Rhode Island

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

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

Reviewed by Micah Foster, Founder & CEO, October 2026

Price a Pawtucket deal right now

Prefilled with a realistic Pawtucket deal. Change any number and it reprices on the programs that lend in Rhode Island, 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 Pawtucket

Pawtucket sits just north of Providence on the Blackstone River, where Slater Mill started the American industrial revolution, and the city still carries that mill town fabric. Two and three family homes and triple deckers fill Fairlawn, Woodlawn, Quality Hill and the streets around downtown, while Oak Hill and Darlington on the east side have colonials, capes and bungalows. A commuter rail station shared with Central Falls connects it to Providence and Boston.

Pawtucket is a multifamily first market, and much of the investor activity is two and three family houses renovated for owner occupants or held for rent. The single family flips are mostly in Oak Hill and Darlington. Prices per square foot jumped over the past year, which tells you buyers are paying up for renovated space. The budget goes to the usual old house items, plus fire separation, egress and lead work in the multifamily.

What a Pawtucket deal looks like on paper

Pawtucket example: $290,000 purchase, $85,000 rehab, $525,000 after repair value, 700 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Say a 1910s Fairlawn two family with one unit vacant, old gas heat in both, a rotted rear porch and kitchens and baths from another era. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$337,500
Cash to close$59,990
Proof of funds to show$98,098
Where the $59,990 goes
  • Down payment (10% of purchase plus rehab)You$37,500
  • Origination (2.13%)Lender$7,172
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$3,375
  • Title and closing (estimate at Texas rates)Title$4,003
  • Prepaid interest (15 days)Lender$1,037
  • Property insuranceInsurer$3,563
  • AppraisalAppraiser$550

Interest while you rehab: $2,102 a month on the $252,500 funded at closing, $2,810 once every draw is out. Proof of funds is cash to close plus $21,250 of rehab reserve and $16,858 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 Pawtucket

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 Pawtucket prices sit right now

Before we price a Pawtucket 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 Pawtucket median sale price at $460,000 over the three months through September 2026, up 6.9% from a year earlier, with the median price per square foot up 19.9%. Homes sold in about 25 days with around three offers each, and there were 183 sales in September.

Median sale price, Pawtucket (Redfin, 3 months to Sep 2026)$460,000
Days on market, Pawtucket (Redfin)25
Average offers per home (Redfin)3
Homes sold in September 2026 (Redfin)183
Share of properties at severe 30-year flood risk (First Street via Redfin)3%

Sources: Redfin, Pawtucket RI housing market

How a Pawtucket file actually gets priced

Pawtucket appraisals depend on unit count and side of the city. The east side singles price above the west side multifamily neighborhoods, and Providence sales over the line are a different market. We comp singles against singles in the same area and multifamily against renovated buildings with the same unit count, with rent support per unit. Small neighborhoods like Quality Hill have few sales, so the value leans on nearby blocks.

Redfin’s First Street data puts about 3% of Pawtucket properties at severe 30 year flood risk, mainly near the Blackstone and Ten Mile rivers. The bigger issue is age: most homes predate 1978, and Rhode Island requires a lead certificate on most older rental units, so multifamily rehabs need lead work in the budget. Multifamily conversions and unit additions need city zoning and building approval before the work, not after.

Who buys your finished Pawtucket deal

The finished Pawtucket two or three family sells to owner occupants, often first time buyers using the rent to qualify, and to investors who see Providence rents at a lower price. Single family homes on the east side sell to local families and Providence workers. Holding a renovated multifamily on a DSCR loan is a strong exit here, and we price it next to the sale.

What happens after you apply

Apply once and the whole Pawtucket 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 Pawtucket

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 Rhode Island →

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 Rhode Island →

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 Rhode Island →

Where we lend in Pawtucket

We broker deals across the whole Pawtucket market. The submarkets investors ask us about most are Oak Hill and Darlington (02861), Fairlawn (02860), Woodlawn (02860), Quality Hill (02860), Downtown and the Blackstone riverfront (02860) and Pinecrest and the east side (02861).

How long does a Pawtucket 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 Rhode Island, 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.

Pawtucket hard money FAQ

Do you lend hard money in Pawtucket?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Pawtucket 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 Pawtucket?
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 Pawtucket 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 Pawtucket flip?
The worked example on this page is a $290,000 Pawtucket purchase with a $85,000 rehab and a $525,000 after repair value at 700 credit, first flip: $37,500 down (10% of purchase plus rehab) and $59,990 total cash to close, with $98,098 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 Pawtucket?
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 Pawtucket fix and flip loan?
The lowest credit floor among the Pawtucket 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 Pawtucket flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Pawtucket 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 Pawtucket?
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 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV.
Is a Pawtucket multifamily better as a flip or a rental?
It depends on the building and the rents. Redfin puts the Pawtucket median at $460,000 over the three months through September 2026, up 6.9% from a year earlier, and rents near Providence are strong. We run the sale and a DSCR refinance side by side so you can pick the exit before you close.
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 Pawtucket: Providence, East Providence and Cranston. More Rhode Island city guides: Warwick. Or see everything we fund in Rhode Island.

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