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

Hard Money Lenders inSmyrna, Delaware

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

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

Reviewed by Micah Foster, Founder & CEO, October 2026

Price a Smyrna deal right now

Prefilled with a realistic Smyrna 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 Smyrna

Smyrna sits right on the line between New Castle and Kent counties, halfway between Wilmington and Dover, and Route 1 makes it a commuter town in both directions. The housing is a mix: 18th and 19th century houses downtown, 1960s and 1970s ranches around Lake Como, and newer subdivisions on the edges of town. It’s smaller and quieter than Middletown to the north, and usually cheaper. 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.

Smyrna is a small market, so a handful of sales moves the numbers. Redfin has the median up on a year ago, but homes are taking noticeably longer to sell than they did last year. That’s the part to plan around: carry costs. A flip here should be bought so that it still works if the house sits a couple of extra months, and priced against what actually closed nearby, not against Middletown.

What a Smyrna deal looks like on paper

Smyrna example: $230,000 purchase, $55,000 rehab, $395,000 after repair value, 700 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Think a 1970s rancher near Lake Como: kitchen and bath, flooring, a new septic or sewer repair if the inspection calls for it, and a heat pump. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$256,500
Cash to close$46,994
Proof of funds to show$74,656
Where the $46,994 goes
  • Down payment (10% of purchase plus rehab)You$28,500
  • Origination (2.13%)Lender$5,451
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$2,565
  • Title and closing (estimate at Texas rates)Title$3,603
  • Prepaid interest (15 days)Lender$827
  • Property insuranceInsurer$2,708
  • AppraisalAppraiser$550

Interest while you rehab: $1,677 a month on the $201,500 funded at closing, $2,135 once every draw is out. Proof of funds is cash to close plus $14,850 of rehab reserve and $12,812 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 Smyrna

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 Smyrna prices sit right now

Before we price a Smyrna 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 Smyrna median sale price at $345K for the three months ending September 2026, up 7.7% on a year earlier, with homes selling in about 56 days against 33 a year ago.

Median sale price, Smyrna DE (Redfin, 3 months to Sep 2026)$345,000
Change on a year earlier (Redfin)Up 7.7%
Days on market, Smyrna DE (Redfin)56

Sources: Redfin, Smyrna DE housing market, Town of Smyrna, Permits and Inspections

How a Smyrna file actually gets priced

With few sales each month, the Smyrna ARV leans on a wider search: renovated ranches and colonials in town and in Clayton, sold within the last six months or so, adjusted for lot and garage. We don’t borrow Middletown or Dover comps unless the appraiser would. As everywhere in Delaware, a Delaware attorney runs the settlement, and on older downtown houses the title work can take longer.

Older Smyrna houses can sit on well and septic or on aging sewer connections, so get the systems inspected before you set the budget. Duck Creek and the low ground east of town carry flood zones. Downtown houses in the historic district may need review for exterior changes. And if you rent the house, Smyrna requires a rental license before anyone moves in, after an inspection of a vacant, clean unit with every utility on.

Who buys your finished Smyrna deal

The Smyrna buyer is often a commuter who works in Dover or around Wilmington and wants a yard and a lower price than New Castle County. Many are first-time buyers using FHA, USDA or VA financing, so the house has to pass a lender’s condition checks. As a rental, a licensed Smyrna ranch can be refinanced into a DSCR loan (a rental loan qualified on the rent), which is a fair fallback if the resale slows.

What happens after you apply

Apply once and the whole Smyrna 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 Smyrna

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 Smyrna

We broker deals across the whole Smyrna market. The submarkets investors ask us about most are Downtown Smyrna and the historic district (19977), Lake Como and the older east side (19977), Subdivisions off Route 13 and Route 1 (19977), Clayton (19938) and Townsend and the county line (19734).

How long does a Smyrna 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.

Smyrna hard money FAQ

Do you lend hard money in Smyrna?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Smyrna 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 Smyrna?
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 Smyrna 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 Smyrna flip?
The worked example on this page is a $230,000 Smyrna purchase with a $55,000 rehab and a $395,000 after repair value at 700 credit, first flip: $28,500 down (10% of purchase plus rehab) and $46,994 total cash to close, with $74,656 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 Smyrna?
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 Smyrna fix and flip loan?
The lowest credit floor among the Smyrna 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 Smyrna flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Smyrna 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 does the Smyrna example assume a longer hold?
Because the market has slowed. Redfin shows Smyrna homes taking far longer to sell than a year ago, so we’d rather you budget for a few extra months of interest, taxes and insurance up front. Hard money is a short-term loan; ask about the term and any extension cost before you close.
Do I need a rental license if a Smyrna flip turns into a rental?
Yes. Smyrna won’t let a unit be leased or occupied until the town issues a rental license, and the inspection is done with the unit empty, clean and every utility on. Schedule it before you list it for rent. Once it’s licensed and leased, a DSCR refinance can take out the hard money loan.
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 Smyrna: Dover and Middletown. More Delaware city guides: Newark and Wilmington. Or see everything we fund in Delaware.

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