Merchants Mortgage & Trust for Rhode Island investors
Merchants Mortgage & Trust is a direct DSCR lender with a 660 minimum credit score, 0.75 minimum DSCR, and maximum 80% LTV. The company does not publish minimum/maximum loan size or state-coverage figures in the sources reviewed.
Rhode Island context
Rhode Island triple-decker market. Strict landlord-tenant.
How Merchants Mortgage & Trust positions in Rhode Island
For Rhode Island specifically, Merchants Mortgage & Trust fits investors who match the hard money approach. The low cash flow profile of Rhode Island aggregate makes it workable for Merchants Mortgage & Trust.
City-level coverage in Rhode Island
Merchants Mortgage & Trust 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. Merchants Mortgage & Trust 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 | — - — |
| 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% |
Merchants Mortgage & Trust strengths in Rhode Island
- Direct DSCR lender
- 660 minimum credit score
- 0.75 minimum DSCR
- Maximum 80% LTV
Ideal borrower: Investor with a 660+ credit score and at least 0.75 DSCR seeking a direct lender.
FAQ
Likely; verify direct Rhode Island coverage. Merchants Mortgage & Trust 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 Merchants Mortgage & Trust states not publicly disclosed footprint. Providence property tax follows the Rhode Island state rate of 1.5 percent. Merchants Mortgage & Trust 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 Merchants Mortgage & Trust. Submarket variation within Warwick matters for property selection.
Merchants Mortgage & Trust 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 Merchants Mortgage & Trust program.
Merchants Mortgage & Trust 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. Merchants Mortgage & Trust follows standard business-purpose loan structures.
Merchants Mortgage & Trust funds rental DSCR in Rhode Island.
Rhode Island allows standard DSCR prepay structures; Merchants Mortgage & Trust typically uses 3-5 year step down.
Merchants Mortgage & Trust typical close: Not publicly published.
Bottom line
For Rhode Island DSCR borrowers, Merchants Mortgage & Trust is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Merchants Mortgage & Trust.