Great Lakes Private Lending for Rhode Island investors
Great Lakes Private Lending is a smaller regional private money operator with Chicago and Wisconsin coverage.
Rhode Island context
Rhode Island triple-decker market. Strict landlord-tenant.
How Great Lakes Private Lending positions in Rhode Island
For Rhode Island specifically, Great Lakes Private Lending fits investors who match the private money approach. The low cash flow profile of Rhode Island aggregate makes it workable for Great Lakes Private Lending.
City-level coverage in Rhode Island
Great Lakes Private Lending provides DSCR coverage across Rhode Island metros including Providence, Warwick, and Rhode Island. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Great Lakes Private Lending program terms apply uniformly across Rhode Island metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | fix-and-flip, bridge, rental, private notes |
| Loan size | $50K - $2.0M |
| Rates | 9.5%-12.5% |
| Points | 1.5 - 4 |
| Max LTV | 70% of ARV |
| Term lengths | 6-18 months |
| Typical close time | 5-10 days typical |
| Rhode Island property tax | 1.5% |
| Rhode Island state income tax | 5.99% |
Great Lakes Private Lending strengths in Rhode Island
- regional Midwest focus
- investor-friendly underwriting
Ideal borrower: Chicago or Wisconsin investor
FAQ
Likely; verify direct Rhode Island coverage. Great Lakes Private Lending is based in Chicago, IL and operates in Chicago and Wisconsin.
Providence is the top investor market in Rhode Island and is generally within Great Lakes Private Lending Chicago and Wisconsin footprint. Providence property tax follows the Rhode Island state rate of 1.5 percent. Great Lakes Private Lending typically underwrites Providence acquisitions at standard rate sheets.
Yes. Warwick ranks among the larger Rhode Island investor metros and sees consistent DSCR loan volume from Great Lakes Private Lending. Submarket variation within Warwick matters for property selection.
Great Lakes Private Lending applies the same rate sheet across Rhode Island metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Providence, Warwick, and Rhode Island all qualify for the same Great Lakes Private Lending program.
Great Lakes Private Lending indicative DSCR rate range is 9.5 to 12.5 percent with 1.5 to 4 points.
Rhode Island triple-decker market. Strict landlord-tenant. Great Lakes Private Lending follows standard business-purpose loan structures.
Great Lakes Private Lending funds fix-and-flip, bridge, rental, private notes in Rhode Island.
Rhode Island allows standard DSCR prepay structures; Great Lakes Private Lending typically uses 3-5 year step down.
Great Lakes Private Lending typical close: 5-10 days typical.
Bottom line
Great Lakes Private Lending in Rhode Island works for the right borrower-deal combination. Match the lender to your deal characteristics.
Independent directory listing. DSCR Loan Program is not affiliated with Great Lakes Private Lending.