LoanFunders for Rhode Island investors
LoanFunders is a direct DSCR lender with a 0.80 minimum DSCR floor (1.15 DSCR required for its best pricing tier) and a 660 minimum credit score. Minimum loan size is $100,000, with maximum LTV of 80% (75% on 2–8 unit properties). The company does not publish maximum loan size, rate, or state-coverage figures in the sources reviewed.
Rhode Island context
Rhode Island triple-decker market. Strict landlord-tenant.
How LoanFunders positions in Rhode Island
Within Rhode Island, LoanFunders competes alongside other DSCR lenders. LoanFunders strengths: 0.80 minimum DSCR floor (1.15 DSCR for best pricing), Direct lender. The low aggregate DSCR economics of Rhode Island create demand for LoanFunders programs in Providence and Warwick particularly.
City-level coverage in Rhode Island
LoanFunders 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. LoanFunders program terms apply uniformly across Rhode Island metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | rental DSCR |
| Loan size | $100K - — |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 80% 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% |
LoanFunders strengths in Rhode Island
- 0.80 minimum DSCR floor (1.15 DSCR for best pricing)
- Direct lender
- $100,000 minimum loan size
- Maximum 80% LTV (75% on 2–8 unit properties)
Ideal borrower: Investor with at least 0.80 DSCR seeking a direct lender; best pricing available at 1.15+ DSCR.
FAQ
Likely; verify direct Rhode Island coverage. LoanFunders 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 LoanFunders states not publicly disclosed footprint. Providence property tax follows the Rhode Island state rate of 1.5 percent. LoanFunders 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 LoanFunders. Submarket variation within Warwick matters for property selection.
LoanFunders 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 LoanFunders program.
LoanFunders 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. LoanFunders follows standard business-purpose loan structures.
LoanFunders funds rental DSCR in Rhode Island.
Rhode Island allows standard DSCR prepay structures; LoanFunders typically uses 3-5 year step down.
LoanFunders typical close: Not publicly published.
Bottom line
Rhode Island investors considering LoanFunders should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with LoanFunders.