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

Hard Money Lenders inRacine, Wisconsin

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

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

Reviewed by Micah Foster, Founder & CEO, October 2026

Price a Racine deal right now

Prefilled with a realistic Racine deal. Change any number and it reprices on the programs that lend in Wisconsin, 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 Racine

Racine is a lakefront factory town with deep roots in household products, farm equipment and kringle. The neighborhoods near the lake are packed with late 1800s and early 1900s houses, including grand old foursquares and Victorians in the Southside Historic District. Entry prices are some of the lowest on Wisconsin’s Lake Michigan shore. That leaves room for a bigger scope on a first flip.

Racine pricing jumps around sharply between neighborhoods. A restored house near the lake or in West Racine can sell well above a similar house a few blocks inland. We look closely at the exact street, the condition of neighboring homes and recent owner-occupant sales before we trust a value.

What a Racine deal looks like on paper

Racine example: $135,000 purchase, $45,000 rehab, $255,000 after repair value, 700 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Take a 1910s foursquare on the south side in 53403 with a big footprint, plaster walls, a tired kitchen and two baths that both need full work. We picked a larger house and scope so the loan clears the program floor. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$159,750
Cash to close$32,072
Proof of funds to show$53,152
Where the $32,072 goes
  • Down payment (15% of the purchase)You$20,250
  • Origination (0.5%)Lender$2,000
  • Lender fees (flat)Lender$1,989
  • Broker fee (1%)Broker$2,000
  • Title and closing (estimate at Texas rates)Title$3,125
  • Prepaid interest (15 days)Lender$448
  • Property insuranceInsurer$1,710
  • AppraisalAppraiser$550

Interest while you rehab: $907 a month on the $114,750 funded at closing, $1,263 once every draw is out. Proof of funds is cash to close plus $13,500 of rehab reserve and $7,580 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 Racine

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Best Rate15% of purchase700+First flip OK8.99% to 9.49%0.5%70% of ARV12 months5-14 days
First Flip, 10% Down110% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips40% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
  1. 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.
  2. 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.
  3. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  4. 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 Racine prices sit right now

Before we price a Racine 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 Racine median sale price at $231K for the three months ending September 2026, up 5.2% from a year earlier. Homes sold in around 42 days on average, compared with 35 days last year.

Median sale price (Redfin, 3 months to Sep 2026)$231K
Change year over year+5.2%
Days on market (Redfin)42

Sources: Redfin, Racine housing market

How a Racine file actually gets priced

Racine County appraisers lean on very local comps, and older houses with original details can split appraisers on value. We match vintage, lot size and the number of baths, and we watch how the appraiser treats period trim and woodwork. Mount Pleasant, Caledonia and Sturtevant are separate villages, so their newer sales do not count as Racine comps.

The Root River runs through the city and floods low areas near its banks. Many older homes have stone basements, knob and tube wiring and lead paint. In the Southside Historic District, check with the city about exterior rules before you swap windows or siding. Many of these houses also need an electrical service upgrade before a buyer’s inspector signs off.

Who buys your finished Racine deal

Buyers here work in manufacturing, health care and the logistics jobs along I-94, and some commute to Milwaukee. A clean, updated older home priced to recent sales usually finds a buyer, often on FHA. Racine also has steady rental demand, so a DSCR hold works when resale comps look thin.

What happens after you apply

Apply once and the whole Racine 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 Racine

Fix and flip

10%down on a first flip
Rates
from 8.99% at 760+ credit
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 Wisconsin →

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 Wisconsin →

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 Wisconsin →

Where we lend in Racine

We broker deals across the whole Racine market. The submarkets investors ask us about most are Southside Historic District (53403), Downtown and Harbor (53403), Northside and North Beach (53402), West Racine (53405), Uptown and Lakeview (53404) and Southwest (53406).

How long does a Racine 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 Wisconsin, and the rate, origination, leverage and cash to close come back side by side. 5-14 days to fund. We stay on title and the lender through funding.

Racine hard money FAQ

Do you lend hard money in Racine?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Racine 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 Wisconsin, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Racine?
As of October 2026: Best Rate (15% down, from 8.99%); 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 Racine hard money loan close?
Most Racine fix and flip files fund in 5-14 days once the file is complete. The First Flip, 10% Down program and the 7.5% Down, 3+ Flips program close 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 Racine flip?
The worked example on this page is a $135,000 Racine purchase with a $45,000 rehab and a $255,000 after repair value at 700 credit, first flip: $20,250 down (15% of the purchase) and $32,072 total cash to close, with $53,152 of proof of funds to show the lender. The lowest down payment for a first flip in Racine is 10% down from 9.99% at 660+ credit. 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 Racine?
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 Racine fix and flip loan?
The lowest credit floor among the Racine 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, 8.99%, needs 760+ credit. Depending on the program, rates step down at 760 credit and 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 Racine flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Racine 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.
Why is a bigger house the right first flip in Racine?
Because the house prices are low, a small flip can leave the loan too small for most programs. A larger foursquare or Victorian with a heavier scope keeps the loan in range and still sells under the citywide median. Just make sure the comps support the finished value.
Why might my Racine tax bill run higher than the seller’s?
The Wisconsin lottery and gaming credit applies only to a primary residence, so it is on the seller’s bill if they lived there and drops off when an investor buys. Run the hold numbers on the full tax bill, not the seller’s credit-reduced one.
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 Racine: Kenosha, Milwaukee, Madison and Chicago. More Wisconsin city guides: Appleton and Green Bay. Or see everything we fund in Wisconsin.

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