Renovo Financial for Rhode Island investors
Renovo Financial is the largest Chicago-based hard money lender. Founded 2011, they've closed thousands of loans across the Midwest and have particularly deep penetration in Chicago, Indianapolis, and Milwaukee. Strong relationships with the local broker community make them a default first-call for many Chicago investors.
Rhode Island context
Rhode Island triple-decker market. Strict landlord-tenant.
How Renovo Financial positions in Rhode Island
Within Rhode Island, Renovo Financial competes alongside other DSCR lenders. Renovo Financial strengths: Chicago-based — strongest local market knowledge, experienced underwriting team. The low aggregate DSCR economics of Rhode Island create demand for Renovo Financial programs in Providence and Warwick particularly.
City-level coverage in Rhode Island
Renovo Financial 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. Renovo Financial 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, new-construction, bridge, rental, multi-family |
| Loan size | $100K - $5.0M |
| Rates | 9.5%-12.5% |
| Points | 1 - 3 |
| Max LTV | 85% of ARV |
| Term lengths | 6-24 months (hard money) / 30-year (rental) |
| Typical close time | 7-14 days typical |
| Rhode Island property tax | 1.5% |
| Rhode Island state income tax | 5.99% |
Renovo Financial strengths in Rhode Island
- Chicago-based — strongest local market knowledge
- experienced underwriting team
- national reach with local depth
- strong fix-and-flip program
Ideal borrower: Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
FAQ
Likely; verify direct Rhode Island coverage. Renovo Financial is based in Chicago, IL and operates in Chicago / national.
Providence is the top investor market in Rhode Island and is generally within Renovo Financial Chicago / national footprint. Providence property tax follows the Rhode Island state rate of 1.5 percent. Renovo Financial 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 Renovo Financial. Submarket variation within Warwick matters for property selection.
Renovo Financial 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 Renovo Financial program.
Renovo Financial indicative DSCR rate range is 9.5 to 12.5 percent with 1 to 3 points.
Rhode Island triple-decker market. Strict landlord-tenant. Renovo Financial follows standard business-purpose loan structures.
Renovo Financial funds fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family in Rhode Island.
Rhode Island allows standard DSCR prepay structures; Renovo Financial typically uses 3-5 year step down.
Renovo Financial typical close: 7-14 days typical.
Bottom line
For Rhode Island DSCR borrowers, Renovo Financial is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Renovo Financial.