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Top Lender for real estate investors in Rhode Island (RI)
Accolend is a top hard money lender in Rhode Island. We provide secure, fast, and hassle-free loans to real estate investors and brokers throughout Rhode Island. At Accolend, we believe in adding value to your project, and so our team of highly dedicated professionals provides you with one-to-one support helping you achieve your goals. As the premier hard money lender in Rhode Island (RI), we provide excellent client service. We can finance your investments as early as 10 days from the application with a minimum paperwork. From the initial conversation to the final deal, no one is going to work harder for you than Accolend. All you need is a reasonable investment that has a good profit margin, and you will receive an approval for hard money financing.
Accolend offers No Points Programs and Lowest Rates in Rhode Island (RI)
- Purchase Up to 75%
- Refinance Up to 65% LTV
- Rates From 9%
- No Points programs
- Up to 85% of Purchase
- Up to 100% of Rehab
- Rates From 9%
- No Points Programs
- Land at 50-60% of Loan to Cost
- Up to 75% of Hard Costs
- Rates From 9%
- No Points Programs
- Up to 80% of Purchase
- Refinance Up to 75%
- Rates from 6.25%
- No points Programs
Accolend As a Leading Hard Money Lender In Rhode Island
Consistent, Responsive, and Reliable Service: Success in real estate investing requires an experienced and dedicated team who work with the same passion and dedication for every client. At Accolend, we pride ourselves on providing excellent customer service. Our team of experts is ready to assist you from beginning to end throughout the whole process. Our good customer relationships are our strength, and that's why the majority of our clientele are repeat customers.
Experience: Accolend was formed 6+ years ago by Wall Street financiers with much experience in real estate investment; we have funded hundreds of hard money loans providing hundreds of millions of dollars to our clients. Accolend is a trendsetter in the industry.
Support & Coaching: We will not only fulfill your loan requirements but also help and support you to do a better investment. Our programs are designed in such a way that the whole lending procedure will provide you with better knowledge of the industry. Working with Accolend will help you take better investment decisions in the future.
Wide Service Area: Accolend provides hard money loans throughout the state of Rhode Island, as well as in 40 other states.
Get Answers
The following properties are eligible for Hard Money Loans near Rhode Island offered by Accolend:
Single Family Residence (SFR)
2-4 Unit Properties
5+Unit Properties
Condominiums
Town Houses
Loan Rates are different for different types of loans, starting from 5.99% with points and from 7.5% with no points.
Yes, we have both point and no point loan programs.
Loan size depends on the type of loan program, the general range is from, 150k-15MM
Understand Rhode Island’s Real Estate Market
Best Hard Money Lender in Rhode Island RI
Rhode Island, the smallest state in the United States, packs a punch when it comes to real estate investment opportunities. Nestled along the scenic New England coastline, Rhode Island offers a unique blend of historical charm, vibrant culture, and economic potential.
Here’s why Rhode Island is an enticing destination for real estate investment:
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Location, Location, Location: Situated strategically between bustling cities like Boston and New York City, Rhode Island offers easy access to major economic hubs while maintaining its own distinct identity. Its proximity to major highways and airports makes it an attractive location for businesses and residents alike.
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Historic Charm: From the cobblestone streets of Providence to the iconic Newport mansions, Rhode Island is steeped in history and character. Renovating historic properties can be a lucrative investment opportunity, catering to tourists and locals who appreciate the state’s rich heritage.
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Thriving Economy: Despite its small size, Rhode Island boasts a diverse economy driven by industries such as healthcare, education, tourism, and technology. The presence of prestigious universities like Brown University and Rhode Island School of Design fuels innovation and attracts a talented workforce.
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Waterfront Living: With over 400 miles of coastline, Rhode Island offers unparalleled waterfront living opportunities. From charming beach cottages to luxurious waterfront estates, there’s no shortage of desirable properties for investors looking to capitalize on the state’s natural beauty.
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Stable Real Estate Market: Rhode Island’s real estate market has historically shown resilience, even during economic downturns. Low vacancy rates, steady appreciation, and a strong rental market make it an attractive option for both short-term flips and long-term investments.
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Quality of Life: Residents of Rhode Island enjoy A high standard of living, with access to outstanding healthcare, top-tier schools, and a plethora of recreational activities. Whether it’s sailing along Narragansett Bay or exploring the state’s numerous parks and nature reserves, there’s something for everyone to enjoy.
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Investment Incentives: Rhode Island offers various incentives to encourage real estate investment, including tax credits for historic rehabilitation projects, as well as programs to support affordable housing development and urban revitalization initiatives.
In conclusion, Rhode Island’s blend of history, natural beauty, economic opportunity, and investment incentives make it a compelling destination for real estate investors seeking both short-term profits and long-term growth potential. Whether you’re looking to flip properties, develop commercial spaces, or invest in rental properties, Rhode Island has something to offer every savvy investor.
How are Rhode Island hard money loans different from other loans?
When it comes to financing, Rhode Island hard money loans stand out from conventional loans. Here’s a breakdown of how they differ:
Target Audience and Purpose:
Hard money loans cater to real estate investors eyeing investment properties. While conventional loans, serve a broader range of borrowers. Hard money loans are for property investments.
Cost Variation:
Generally, hard money loans come with higher costs than conventional ones. Interest rates on hard money loans can range from 5 to 15%, higher than those of conventional loans. Accessibility and availability balance the higher cost. Especially for properties deemed as higher risk.
Down Payment Requirements:
Hard money loans usually entail lower down payment requirements compared to conventional loans. While conventional loans may demand a down payment of up to 20% of the property’s sale price. Hard money loans often need as little as 2%. This lower initial investment minimizes the strain on buyers’ cash reserves. Thus making property acquisition more workable.
Credit Qualifications:
Credit scores play a pivotal role in securing both hard money and conventional loans. Yet, hard money lenders may exhibit more flexibility in assessing borrowers’ creditworthiness. Particularly if applicants show strong income and other qualifying factors. Conventional lenders uphold stricter credit score standards.
Loan Structuring:
One notable feature of RI hard money loans is the property’s after-repair value (ARV). This unique approach enables borrowers to secure financing exceeding the property’s sale price. Encompassing extra funds for renovations, upgrades, and value-enhancing alterations. Such flexibility is rarely available with conventional mortgage loans. But proves indispensable in scenarios like property flipping.
By understanding the above differences based on the characteristics of hard money loans. Investors whether beginner or seasoned investors can make informed decisions. Above knowledge and proper education on hard money loans can benefit all. Especially while looking for a reliable and trustworthy hard money loan lender in RI.
Hard Money Loans in Rhode Island RI
