Harpoon Capital for Rhode Island investors
Harpoon Capital is a broker-only private money lender with no stated minimum DSCR — it will consider deals below 0.75 DSCR. Minimum credit score is 620, with loan sizes from $50,000 to $3,500,000 and maximum 85% LTV. The company does not publish rate or state-coverage figures in the sources reviewed.
Rhode Island context
Rhode Island triple-decker market. Strict landlord-tenant.
How Harpoon Capital positions in Rhode Island
Rhode Island is well covered by national DSCR lenders, with Harpoon Capital as one option. Where Harpoon Capital differentiates: No minimum DSCR requirement — approves deals below 0.75. Where it competes: rates not publicly published against peer programs.
City-level coverage in Rhode Island
Harpoon Capital 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. Harpoon Capital program terms apply uniformly across Rhode Island metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | rental DSCR |
| Loan size | $50K - $3.5M |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 85% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| Rhode Island property tax | 1.5% |
| Rhode Island state income tax | 5.99% |
Harpoon Capital strengths in Rhode Island
- No minimum DSCR requirement — approves deals below 0.75
- Loan sizes from $50,000 to $3,500,000
- 620 minimum credit score
- Broker-only origination
Ideal borrower: Investor with a cash-flow-negative property (DSCR below 0.75) seeking a broker-originated private money lender with no DSCR floor.
FAQ
Likely; verify direct Rhode Island coverage. Harpoon Capital is based in an undisclosed location and operates in states not publicly disclosed.
Providence is the top investor market in Rhode Island and is generally within Harpoon Capital states not publicly disclosed footprint. Providence property tax follows the Rhode Island state rate of 1.5 percent. Harpoon Capital 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 Harpoon Capital. Submarket variation within Warwick matters for property selection.
Harpoon Capital 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 Harpoon Capital program.
Harpoon Capital does not publish a rate sheet. Pricing is quoted per deal and depends on credit, leverage, coverage ratio and experience.
Rhode Island triple-decker market. Strict landlord-tenant. Harpoon Capital follows standard business-purpose loan structures.
Harpoon Capital funds rental DSCR in Rhode Island.
Rhode Island allows standard DSCR prepay structures; Harpoon Capital typically uses 3-5 year step down.
Harpoon Capital typical close: Not publicly published.
Bottom line
For Rhode Island DSCR borrowers, Harpoon Capital is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Harpoon Capital.