RCN Capital for Rhode Island investors
RCN Capital is a national non-QM lender with capacity for larger transactions and strong experience on multi-unit and small commercial deals. Minimum DSCR is 1.00 at 680+ credit score or 1.15 at 660-679; excludes Alaska, North Dakota, South Dakota, Vermont, Nevada, and Utah. Closes in as few as 10 business days.
Rhode Island context
Rhode Island triple-decker market. Strict landlord-tenant.
How RCN Capital positions in Rhode Island
For Rhode Island specifically, RCN Capital fits investors who match the hard money approach. The low cash flow profile of Rhode Island aggregate makes it workable for RCN Capital.
City-level coverage in Rhode Island
RCN 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. RCN Capital 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 | fix-and-flip, BRRRR, rental, bridge, new-construction |
| Loan size | $100K - $3.5M |
| Rates | 9.5%-12% |
| Points | 1 - 3 |
| Max LTV | 80% of ARV |
| Term lengths | 12-24 months (hard money) / 30-year (rental) |
| Typical close time | 10-21 days typical |
| Rhode Island property tax | 1.5% |
| Rhode Island state income tax | 5.99% |
RCN Capital strengths in Rhode Island
- high loan limits
- established track record
- multi-family capacity
Ideal borrower: Investor with larger deals and multi-property exposure
FAQ
Yes, operates nationally including Rhode Island. RCN Capital is based in South Windsor, CT and operates nationally.
Providence is the top investor market in Rhode Island and falls within RCN Capital national coverage. Providence property tax follows the Rhode Island state rate of 1.5 percent. RCN 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 RCN Capital. Submarket variation within Warwick matters for property selection.
RCN 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 RCN Capital program.
RCN Capital indicative DSCR rate range is 9.5 to 12 percent with 1 to 3 points.
Rhode Island triple-decker market. Strict landlord-tenant. RCN Capital follows standard business-purpose loan structures.
RCN Capital funds fix-and-flip, BRRRR, rental, bridge, new-construction in Rhode Island.
Rhode Island allows standard DSCR prepay structures; RCN Capital typically uses 3-5 year step down.
RCN Capital typical close: 10-21 days typical.
Bottom line
Rhode Island investors considering RCN Capital should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with RCN Capital.