Cranston Hard Money Lender

Cranston Hard Money Lender

In the Cranston 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. Cranston 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.

Cranston Hard Money Lender FAQ’S

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

What Do Cranston Hard Money Lenders Specialize in?

Cranston 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 Cranston Hard Money Loans?

Cranston 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 Cranston Hard Money Lenders Look at my Credit Score?

One of the greatest benefits of working with Cranston 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 Cranston even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Cranston Hard money lenders primarily care about the property you are purchasing.

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

Interest rates for hard money loans in Cranston 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 Cranston, 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 Cranston Hard Money Lender?

There are many benefits to working with a Cranston 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 Cranston 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 Cranston, 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 Cranston?

When you want a hard money loan in Cranston, 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 Cranston 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 Cranston Hard Money Loan?

Refinance a Cranston 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 Cranston 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.

Here’s other cites we can help with in Rhode Island: Rhode Island hard money lender

Current Real Estate Trends In Cranston (2024)

The real estate market in Cranston, RI is experiencing a period of expansion and stability. Data shows the median sold home price is $393.8K, with a year-over-year rise of 9.5% in the median listing home price, now at $399K. This demonstrates a strong demand for housing in the area, as demonstrated by the average sale-to-list price ratio being above asking price by 1.71%.

The average number of days on the market is quite low, at 25 days, indicating limited supply of homes when compared to the number of buyers. Predictions point to the median home price reaching $301,842 by 2028. Investing in Cranston properties is likely to be profitable, potentially yielding a profit of $108,530 from a $100,000 investment by 2028.

In summary, Cranston’s real estate market offers excellent possibilities for both buyers and investors.

Current Market Status

The housing market in Cranston, RI is currently a seller’s market, with more buyers than homes available, resulting in an average of 1.71% above asking price in October 2023. This high demand and limited supply creates a competitive atmosphere among potential buyers.

The median listing price is $399K, while the median sold price is $393.8K, showing an upward trend with a 9.5% year-over-year increase.

The average days on market is 25 days, meaning homes are currently selling at a relatively quick rate.

This data suggests Cranston is a favorable market for sellers, as buyers must contend with stiff competition and may need to offer above asking price to secure a property.

Home Prices and Trends

The housing market in Cranston is displaying an impressive increase in home prices, with the median listing price reaching $399K in October 2023, demonstrating a year-over-year growth of 9.5%. This surge in home prices reflects the present seller’s market in Cranston, where there are more buyers than available homes.

Additionally, homes in Cranston are going for an average of 1.71% above asking price, further demonstrating the strong demand in the market. The average days on the market is 25 days, and the median days on the market trend has slightly decreased compared to the previous year.

These trends point to a competitive real estate market in Cranston, with high demand and restricted inventory.

Looking ahead, let’s explore the investment potential in the Cranston housing market.

Investment Potential

Demand for homes is strong and inventory is limited in the Cranston real estate market, making it a promising investment opportunity.

In October 2023, the median listing price was $399,000, which was a 9.5% increase from the year before. Homebuyers paid an average of 1.71% over the asking price, with homes selling in an average of 25 days. This is slightly lower than the previous year.

It is projected that the average home price in Cranston will be $301,842 in 2028, representing a potential profit of $108,530 for a $100,000 investment.

All these figures indicate that Cranston’s real estate market is a great choice for investors.


All About Cranston

Embark on a journey through the vibrant city of Cranston, Rhode Island. Placed in Providence County, Cranston offers something for everyone.

Cranston has a rich history. It was created in 1754 and participated in the Revolutionary War. Cranston became an official city in 1910. This is only a tiny part of its fascinating past.

In addition to its past, Cranston changes and grows. It has a diverse economy with corporate offices for Alex and Ani and Coastway Community Bank. It also has a lively arts and cultural scene.

Whether you are a history-lover, an art enthusiast, or just someone looking to explore a new city, Cranston has something for you. Get ready to explore all that this amazing city has to offer!


Cranston, Rhode Island offers an abundance of attractions and conveniences for both locals and visitors alike. Located in Providence County, the city occupies roughly three percent of the state’s total land mass and is part of the Providence metropolitan area. It has a rich history and cultural significance, making it a beloved destination for Rhode Islanders.

The city is situated on the banks of the Pawtuxet River and is surrounded by natural beauty, providing the perfect backdrop for outdoor activities and exploration. It also borders two other cities – Providence and Warwick – making it easy to access the various attractions.

Cranston’s creation and development have many fascinating stories behind them, which we’ll explore here. It started as an agricultural colony in 1754 and then evolved into a town in 1781. The town was then incorporated into a city in 1910 and has since seen a great deal of growth and change.

Today, the city is home to a variety of businesses, educational institutions, and cultural attractions. It’s known for its vibrant arts and entertainment scene, which includes numerous galleries, theaters, and music venues. There are also plenty of outdoor activities, such as canoeing, kayaking, and biking.

In short, Cranston has something for everyone. Whether you’re looking for a peaceful escape or an exciting adventure, the city has something to offer. So come explore and discover all the amazing things Cranston has to offer!


Cranston was established in 1754, carved out from a portion of Providence north of the Pawtuxet River. It was named after either Governor Samuel Cranston or his grandson Thomas Cranston.

During the Revolutionary War, Cranston had a big part in supporting the Patriot cause.

In the 19th century, Cranston lost considerable territory to other towns and the city of Providence.

On March 10, 1910, Cranston officially became a city. It has some important milestones and events in its past.

Next, we will look at Cranston’s geography. It has certain physical characteristics and location.


Situated in Providence County, Rhode Island, Cranston has diverse geographical features that enhance its charm and appeal. Covering 30.02 square miles, the city has a mix of urban and semi-rural landscapes. Nearby the Pawtuxet River, residents and visitors enjoy the picturesque views and recreational activities.

To the west of Interstate 295, numerous housing developments have attracted people who enjoy suburban living. The borders of Cranston, Providence and Warwick make it possible to access other areas with ease. The population density of Cranston is 2,925.88/sqmi, creating a lively and bustling atmosphere.

Geography is a major factor in the economic growth and development of the city. Cranston is home to corporate headquarters of companies like Alex and Ani and Coastway Community Bank, which contribute to jobs and overall economic success. The mixture of geography, including water bodies and natural landscapes, makes it a desirable location for businesses and residents.

The natural beauty and accessibility to major transportation routes are beneficial to economic activities.


Cranston is a thriving city that offers a variety of job opportunities and contributes to Rhode Island’s growth. The city is home to corporate headquarters of companies such as Alex and Ani and Coastway Community Bank, demonstrating its capacity to draw in and sustain multiple industries.

Cranston’s recent development, particularly in the housing sector, has further strengthened its economic health. With a combination of residential and commercial development, the city continues to offer employment to its citizens and welcome new businesses.

Cranston’s economic achievements have had positive effects not only on its own community, but on the entire Rhode Island economy. As the city continues to broaden and bring in new investments, it continues to serve as a major economic center in the area.

With its strong economy, Cranston provides a great basis for the city’s cultural scene to blossom.

Arts and Culture

Cranston is home to a vivid arts and culture scene that only adds to the city’s already booming economy. Events like the yearly St. Mary’s Feast, a week-long celebration, draw crowds of locals and visitors alike. It features vendors, a carnival, fireworks, and a traditional procession, reminiscent of the Feast of the Madonna della Civita celebrated in Itri, Italy, Cranston’s twin town.

Apart from the St. Mary’s Feast, Cranston offers many artistic and cultural experiences. The William Hall Library is where many literary and cultural events take place. Additionally, the city has a range of architectural sites such as the Rosedale Apartments and the Furnace Hill Brook Historic and Archeological District, which display a variety of architectural styles.

The city’s arts scene is further enriched by local galleries and theaters that showcase the work of talented artists. These venues give residents and visitors the chance to engage in visual and performing arts, promoting creativity and cultural awareness.

All in all, Cranston’s arts and culture scene enriches the city and makes it a desirable destination for those looking for a diverse and fulfilling cultural experience.