Rhode Island DSCR Loans: No Tax Returns, 1.2 DSCR Min, Rates from 6.25%
Rental property financing for Rhode Island investors qualified on property cash flow, not personal income, W-2s, or tax returns. Serving Providence, Warwick, Cranston and the rest of Rhode Island. If the property cash-flows at 1.2× the mortgage, you may qualify.
- 1.2 DSCR minimum
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- 680+ FICO
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- Refi from 6.25%
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- 21–30 day close
Can I get a DSCR rental loan in Rhode Island?
Yes. DSCR loans in Rhode Island qualify investors based on property cash flow with a 1.2 DSCR minimum, 680+ FICO, and 20–25% down. No tax returns, W-2s, or DTI calculation required. 1–4 unit residential and 5+ unit multifamily eligible. Refi rates start at 6.25%.
Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. Updated July 1, 2026.
Rhode Island Rental Market Snapshot
State-level data DSCR underwriters use to size Rhode Island rental deals.
Rhode Island's DSCR market is concentrated in greater Providence and a niche coastal STR market in Newport, Narragansett, and Watch Hill. Providence multifamily inventory (triplexes, quadplexes) is one of the deepest BRRRR opportunities in the Northeast. Brown University and the eds/meds base anchor stable LTR demand.
Major Rhode Island Markets We Serve
Active DSCR deal flow across Rhode Island's core rental markets. Same requirements (1.2 DSCR, 680+ FICO, 20–25% down) apply statewide.
| Metro | Median Price | Gross Yield | DSCR Investor Notes |
|---|---|---|---|
| Providence | $365K | 6.0–7.5% | Largest RI market, Brown/eds-meds employment, deep multifamily inventory |
| Warwick | $405K | 5.5–6.5% | Airport/state-government employment, suburban LTR demand |
| Cranston | $425K | 5.0–6.5% | Premium Providence suburb, family LTR demand, strong schools |
Rhode Island Eviction Timeline & Landlord Posture
How Rhode Island courts handle non-payment evictions, material to DSCR loss-severity assumptions.
Rhode Island RIGL 34-18 requires a 5-day demand for non-payment. District Court calendars in Providence schedule hearings 14–21 days after filing.
Rhode Island Rate Adjustment vs National Baseline
Small-state market priced on national curves; coastal STR offset modest court-calendar friction.
Final pricing depends on FICO, LTV, DSCR, property type, and program. Baseline national DSCR refi rates start at 6.25% as of July 1, 2026.
DSCR Lenders Active in Rhode Island
The non-bank DSCR programs we see most frequently funding Rhode Island rental deals. PeerSense matches your scenario across this lender set rather than locking you into one.
- Visio Lending
- Lima One
- CoreVest
PeerSense is independent, not a lender. Lenders listed are programs we have funded Rhode Island deals through; specific terms vary by file.
Rhode Island DSCR Loan Requirements
| Requirement | Minimum | Notes |
|---|---|---|
| DSCR | 1.20 | 1.00+ allowed with 740 FICO or 30% down |
| Credit Score | 680 FICO | 640–679 by exception, lower LTV |
| Down Payment | 20–25% | 25% if <1.2 DSCR or <700 FICO |
| Property Type | 1–4 units or multifamily | Condos, townhomes, STRs OK where legal |
| Income Docs | None | No tax returns, W-2s, DTI check |
| Reserves | 6 months PITIA | Checking, savings, stocks qualify |
| Close Time | 21–30 days | Cash-out refi: 14–21 days |
Not a commitment to lend. Rates and terms subject to underwriting. See our full DSCR loan guide for the complete program.
Get Rhode Island DSCR Loan Terms
DSCR Rental: Response within 24–48 hours. No obligation.
Related DSCR Resources
- DSCR Loans Hub: Programs & Rates
- DSCR Rental Loans: Full Program Guide
- DSCR for Airbnb / Short-Term Rentals
- DSCR Cash-Out Refinance
- DSCR Jumbo Loans ($1M+)
- DSCR for LLCs / Entity Title
- Best DSCR Lenders 2026
- DSCR Loans: Complete Guide
- DSCR Calculator: Test Your Property
- Fix & Flip Loans: Bridge to DSCR Exit
- Bridge Loans: Short-Term Rental Acquisition
- DSCR vs Conventional Mortgage