Hard Money Lenders Rhode Island

Hard Money Lenders Rhode Island
state flag of Rhode Island

Popular Cities For Lending in Rhode Island

Newport East

Valley Falls

In the Rhode Island real estate market, grabbing properties before your competition is essential for making the best deals. Although real estate investors sometimes go the traditional route and seek bank loans, the process is anything but speedy.

When time is of the essence, waiting for the lengthy process of getting approval is not an option for most investors. Rhode Island hard money lenders specialize in providing hard money loans which provide quick funds to investors. These loans are for a non owner occupied property or in some cases for business purpose loans.

Rhode Island Hard Money Lender FAQ’S

Below are some of the most frequently asked questions we get regarding hard money loans and lenders in Rhode Island.

What Do Rhode Island Hard Money Lenders Specialize in?

Rhode Island hard money lenders specialize in providing short-term, creative financing for real estate investors. If you seek a conventional lender to purchase an investment property, your loan request will be based on the property’s value and your assets. Your credit score, job, and finances will be scrutinized intensely.  Hard money lenders base their final loan decisions on the after-repair value. The ARV represents the potential value of a property after all repairs have been accomplished. 

What are the Benefits of Rhode Island Hard Money Loans?

Rhode Island hard money loans offer advantages that traditional banks cannot. Lenders like Acamnet Financial offer a higher level of flexibility than banks.  When qualifying for this type of loan, lenders do not delve too deeply into the finances of real estate investors. In most cases, simply present the property and your plans, which saves you the hassle of gathering countless financial documents.

Do Rhode Island Hard Money Lenders Look at my Credit Score?

One of the greatest benefits of working with Rhode Island hard money lenders is the lack of credit score requirements. One of the first things a bank does is check your credit score.  You can get approved for a hard money loan in Rhode Island even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Rhode Island Hard money lenders primarily care about the property you are purchasing.

What is the Interest Rate & Points for Hard Money Loans in Rhode Island?

Interest rates for hard money loans in Rhode Island are typically higher than traditional bank loans (conventional loans) because of the greater risk lenders must take on when approving loans. When searching for a hard money lender near me in Rhode Island, you will find average interest rate is between 8%-15%.  You should also be aware that lenders sometimes charge points that are meant to offset their administrative costs. Each point represents 1% of the total loan amount.  The average points lenders charge is between 1 to 3. Some lenders may charge up to 10 points. These points are due upfront or at closing, depending on the lender.

What Should I Look for in a Rhode Island Hard Money Lender?

There are many benefits to working with a Rhode Island hard money lender.  You just need to make sure you are working with the right lender.  You can rely on Acamnet Financial Group when you need us most.  We offer reliability, consistency, experience, and support.  As a real estate investor, you know the importance of grabbing the best property deals when they become available. 

How can Hard Money Lenders in Rhode Island Help Me?

Whether you are new to real estate and real estate projects or an old pro, you know having the capital to purchase real estate is essential. Without funds, you will miss out on real estate transactions.  When you partner with hard money lenders in Rhode Island, you will quickly get the money you need without jumping through the hoops of traditional bank lenders.

How do I get a Hard Money Loan in Rhode Island?

When you want a hard money loan in Rhode Island, begin by preparing the property information. Location, size, purchase price, after repair value, repair costs, etc.  In most cases, the financing will be based on these numbers.  Then, apply for a hard money loan in Rhode Island using this information and supply some financial information.  Then, an appraisal will be ordered to assess the loan-to-value ratio, which will influence the loan amount.

How do I Refinance a Rhode Island Hard Money Loan?

Refinance a Rhode Island hard money loan will involve moving from a high interest, short term loan to a longer term, usually lower interest rate loan. Typically a conventional type of loan.  When refinancing a Rhode Island hard money loan you will find it will have a more stringent set of guidelines.  You will need to have sufficient credit and income qualifications.  As the lending landscaping and regulations constantly change, you want to consult a knowledgeable conventional loan expert.

Current Real Estate Trends In Rhode Island (2024)

This article provides an objective analysis of the current real estate trends in Rhode Island. Recent years have seen significant changes in the housing market, impacting supply and demand.

Examining the data and trends can give insight into the current state of the market and its implications for buyers, sellers, and investors.

The analysis focuses on key factors such as housing market overview, supply and demand, and the multifamily homes segment.

An academic style is used to present an impartial and data-driven perspective on the current real estate trends in Rhode Island.

The information serves as a valuable resource for industry professionals, policymakers, and individuals interested in understanding the real estate market in Rhode Island.

Housing Market Overview

The housing market in Rhode Island is seeing a noticeable rise in prices and a great demand for properties. Data shows that the median home price in the state has gone up by 9% over the last year.

There are a few reasons behind this development, such as a thriving economy, low interest rates, and a limited supply of housing. Therefore, sellers have been able to ask for more, while buyers are finding themselves in a competitive market.

Supply and Demand

The housing market in Rhode Island is constantly changing, with the quantity of available homes and the quantity of prospective buyers fluctuating in response to a variety of factors.

Population growth and migration patterns, construction rates and development projects, and housing policies and regulations all play a role in influencing the supply of housing.

On the other hand, economic conditions and job opportunities, interest rates and mortgage availability, and demographic trends and household formation rates can all sway the demand side of the equation.

Understanding how these factors affect the real estate market in Rhode Island is essential for making informed decisions.

Multifamily Homes

Multifamily homes are a significant segment of the housing market in Rhode Island due to their capability to fulfill the diverse needs and preferences of occupants, providing a sense of community and comfort. They are a desirable option for both renters and buyers, with a variety of features and shared spaces. Recent data suggests that the demand for multifamily homes has been steadily rising, with a 10% increase in sales in the past year. This shows a healthy market for multifamily dwellings in Rhode Island.

Advantages of multifamily homes include the potential to generate rental income, shared expenses and amenities, a sense of community and security, close proximity to urban centers and amenities, and diversification of investment. Disadvantages of multifamily homes include higher maintenance costs, limited control over neighbors, less privacy compared to single-family homes, potential tenant turnover, and potential for noise disturbance.



All About Rhode Island

Rhode Island, the smallest state in the United States, holds a significant place in American history. Founded in 1636, it became a refuge for those seeking religious freedom and a haven for dissenters and social outcasts. Rhode Island played a pivotal role in the American Revolution, being the first colony to call for a Continental Congress and renounce British allegiance. Additionally, the state ratified the Articles of Confederation and the U.S. Constitution.

Rhode Island’s official name, State of Rhode Island and Providence Plantations, has sparked controversy due to its association with slavery. In 2020, voters approved a change to remove ‘and Providence Plantations’ from official documents.

Known as the Ocean State, Rhode Island boasts an extensive coastline and large bays. With its rich history of religious freedom and dissent, Rhode Island continues to captivate scholars and visitors alike.

This article aims to provide an informative overview of the state, encompassing its Native American history, role in the American Revolution, name and origin, and geography and coastline.


Rhode Island, the smallest state in the United States, has a rich history that includes being founded as a haven for religious liberty, playing a significant role in the American Revolution, and having a coastline that stretches for 400 miles, earning it the nickname ‘Ocean State.’

From its establishment by Roger Williams in 1636 as a refuge for those seeking religious freedom, Rhode Island has been a symbol of independence and dissent. It was the first colony to call for a Continental Congress and the first to renounce allegiance to the British Crown.

Rhode Island’s 400 miles of coastline, with its picturesque bays and inlets, have made it a popular destination for beachgoers and boaters.

With this foundation in mind, let us now explore the Native American history of Rhode Island.

Native American History

Native American tribes inhabited the region around Narragansett Bay for thousands of years before the arrival of English settlers in the 17th century. These tribes, including the Narragansett, Wampanoag, and Niantic, had established a rich and complex culture with a solid connection to the land and water. They relied on fishing, hunting, and agriculture for sustenance and had a sophisticated social and political structure.

However, with the arrival of English settlers, the Native American communities faced significant challenges. The immigrants brought diseases that decimated the Native American population, and conflicts over land and resources arose. Despite these challenges, the influence of Native American culture can still be seen in Rhode Island today. This rich history set the stage for Rhode Island’s role in the American Revolution as the tensions between the colonists and the British Crown escalated.

Role in American Revolution

During the American Revolution, the territory now Rhode Island played a crucial role in the fight for independence. It was the first colony to call for a Continental Congress in 1774, demonstrating its early commitment to the cause.

Rhode Island was also the first to renounce allegiance to the British Crown in 1776, solidifying its position as a leader in the revolutionary movement.

Furthermore, Rhode Island played a significant role in the formation of the new nation, as it was the fourth state to ratify the Articles of Confederation in 1778.

Although the state initially boycotted the 1787 convention that drafted the U.S. Constitution, its participation in the ratification process was vital.

This pivotal role in the American Revolution and the early formation of the United States set the stage for understanding Rhode Island’s unique history and development.

Name and Origin

Founded by Roger Williams in 1636, the territory now the State of Rhode Island and Providence Plantations holds historical significance as the first settlement in North America with an explicitly secular government, serving as a haven for religious and political dissenters.

Williams founded Providence as a place where individuals could freely practice their beliefs without interference from the government. This commitment to religious liberty attracted people from various backgrounds, including those seeking refuge from religious persecution.

Rhode Island’s establishment as a colony that valued individual freedom and dissent played a crucial role in shaping the American Revolution and the formation of the United States. It set a precedent for religious freedom and tolerance principles that would become fundamental to the nation’s identity.

Transitioning to the geography and coastline, Rhode Island’s unique location and natural features have further contributed to its historical and cultural significance.

Geography and Coastline

Located in the New England region, Rhode Island is characterized by its extensive 400 miles of coastline and numerous bays and inlets, making it a geographically unique and historically significant area.

Rhode Island’s coastline provides a wealth of natural beauty and recreational opportunities for residents and visitors alike. The state’s large bays, such as Narragansett Bay, contribute to its distinct maritime charm.

Additionally, Rhode Island shares borders with Connecticut and Massachusetts and a small maritime border with New York. Its latitude ranges from 41° 09′ N to 42° 01′ N, while its longitude stretches from 71° 07′ W to 71° 53′ W.

This geographical location further enhances Rhode Island’s appeal, attracting individuals who love coastal living, outdoor activities, and picturesque landscapes.