Hard Money Lenders in Wilmington, DE | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inWilmington, Delaware

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

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

Reviewed by Micah Foster, Founder & CEO, October 2026

Price a Wilmington deal right now

Prefilled with a realistic Wilmington 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 Wilmington

Wilmington is Delaware’s only big city, and it’s a brick rowhouse town. Most of the flip stock was built between about 1890 and 1930 for the workers of the mills and rail yards along the Christina and the Brandywine, and it sits in tight grids on the West Side, the East Side and around Little Italy. Redfin has the city median up double digits on a year ago. Here’s where the financing stands: 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.

Wilmington prices change block to block more than almost anywhere we lend. Trolley Square and the Highlands carry prices that much of the East Side and Southbridge never see, and a row a few streets off Union Street can be worth far less than one on it. The deals that work buy a tired row in Hilltop, Browntown or Canby Park, where buyers already want to be, and finish it to the street’s level. We ask which block before we ask anything else.

What a Wilmington deal looks like on paper

Wilmington example: $125,000 purchase, $60,000 rehab, $255,000 after repair value, 700 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Picture a 1910s brick rowhouse in Hilltop: new kitchen and bath, a furnace and water heater, an electrical update, and a rear wall and roof that finally stop leaking. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$166,500
Cash to close$32,732
Proof of funds to show$57,249
Where the $32,732 goes
  • Down payment (10% of purchase plus rehab)You$18,500
  • Origination (2.13%)Lender$3,538
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$2,000
  • Title and closing (estimate at Texas rates)Title$3,159
  • Prepaid interest (15 days)Lender$437
  • Property insuranceInsurer$1,758
  • AppraisalAppraiser$550

Interest while you rehab: $887 a month on the $106,500 funded at closing, $1,386 once every draw is out. Proof of funds is cash to close plus $16,200 of rehab reserve and $8,317 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 Wilmington

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 Wilmington prices sit right now

Before we price a Wilmington 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 Wilmington median sale price at $258K for the three months ending September 2026, up 12.1% on a year earlier, with homes selling in about 40 days and around two offers each.

Median sale price, Wilmington (Redfin, 3 months to Sep 2026)$258,000
Change on a year earlier (Redfin)Up 12.1%
Days on market, Wilmington (Redfin)40

Sources: Redfin, Wilmington DE housing market, City of Wilmington, Residential Rental Property Program, Offit Kurman, the Delaware attorney closing requirement

How a Wilmington file actually gets priced

We build the Wilmington ARV from renovated rows on the same or the next block, sold in the last few months, and we don’t borrow comps from the suburbs in Brandywine Hundred or Pike Creek, which an appraiser won’t use for a city row. Twins and end units get compared to twins and end units. Every Delaware settlement has to be run by a Delaware attorney, so the title search, the payoff of any old city liens and the closing all go through a law office. Open code cases and unpaid water bills show up there, and they come off the price, not out of your pocket.

Rowhouse problems are shared problems in Wilmington: party walls, flat or low-slope roofs, and rear additions that pull away from the main house. Southbridge and the low blocks near the Christina sit near the river, so pull the flood zone before you bid. If the plan could ever turn into a rental, Wilmington requires a residential rental license renewed every year, runs inspections on a two or five year cycle depending on the unit count, and requires an owner who lives outside New Castle County to hire a property manager.

Who buys your finished Wilmington deal

The finished Wilmington row sells mostly to first-time buyers: hospital and bank employees, state and county workers, and young buyers who want a walkable street at a price Philadelphia’s close-in neighborhoods passed years ago. Keep the finish level in line with the block. If the retail spread is thin, Wilmington rents are steady, and a licensed row can be refinanced into a DSCR loan (a rental loan qualified on the rent, not your income) and held.

What happens after you apply

Apply once and the whole Wilmington 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 Wilmington

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 Wilmington

We broker deals across the whole Wilmington market. The submarkets investors ask us about most are Hilltop and Little Italy (19805), Trolley Square and the Highlands (19806), Browntown, Hedgeville and Canby Park (19805), Brandywine Village and the East Side (19802), Ninth Ward and Price’s Run (19802) and Quaker Hill and Downtown (19801).

How long does a Wilmington 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.

Wilmington hard money FAQ

Do you lend hard money in Wilmington?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Wilmington 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 Wilmington?
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 Wilmington 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 Wilmington flip?
The worked example on this page is a $125,000 Wilmington purchase with a $60,000 rehab and a $255,000 after repair value at 700 credit, first flip: $18,500 down (10% of purchase plus rehab) and $32,732 total cash to close, with $57,249 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 Wilmington?
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 Wilmington fix and flip loan?
The lowest credit floor among the Wilmington 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 Wilmington flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Wilmington 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.
Do I need a Delaware attorney to close a Wilmington flip?
Yes. Delaware requires a Delaware licensed attorney to conduct every real estate settlement, both the purchase and the loan. The attorney orders title, clears old liens and runs the closing. Pick the law office as soon as you have an accepted offer, because the lender’s closing instructions go to them, and a missing payoff letter is the usual cause of a late Delaware closing.
Can I flip my first house in Wilmington with a hard money loan?
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. For a first Wilmington flip, pick a row with a clean roof and back wall, get a written contractor bid, and check the city’s open permit and code history 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 Wilmington: Newark and Philadelphia. More Delaware city guides: Dover, Middletown and Smyrna. Or see everything we fund in Delaware.

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