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UNITEDLENDING

Investment property loans · MI

Hard money, fix and flip and DSCR loans in Michigan

Michigan investors come to us for Detroit and its suburbs, and for steady rental markets like Grand Rapids and Lansing.

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Markets

Where we lend in Michigan

Cities we lend in include Detroit, Grand Rapids, Lansing, Warren and Dearborn, and the towns around them.
DetroitHouses bought well below the cost to build, renovated to rent or to sell. Condition varies a lot, so the scope of work decides the deal.
Detroit's suburbsRentals in Warren, Dearborn, Southfield and other Wayne, Oakland and Macomb County towns.
Grand Rapids and LansingSteady rental demand near the universities and big employers.

Michigan

Loans by city in Michigan

Each city has its own page: the neighborhoods investors buy in, the housing and the local rules worth checking before an offer.

Loan programs

Loans for Michigan real estate investors

Pick the loan that fits the deal: short-term money to buy, renovate or build, or a long-term loan to hold the property. Published limits are subject to appraisal and underwriting.
Long-term

DSCR rental loans in Michigan

30-year loans for Michigan rentals of 1–4 units, fixed or adjustable, qualified on the rent with no personal income verification: up to 85% of the price on a purchase, with loans from $75,000.

Purchase LTV up to85%
Term30 years
Income docsNot required
Loans from$75K

Subject to appraisal and underwriting.

DSCR loans: terms and requirements
Short-term

Fix and flip loans in Michigan

Buy and renovate in Michigan with up to 95% of the price and 100% of the rehab budget, on a 12–18 months interest-only loan with no prepayment penalty when the house sells.

Purchase price up to95%
Rehab funded up to100%
Term12–18 months
Prepayment penaltyNone

Subject to appraisal and underwriting.

Fix and flip loans: terms and requirements
Short-term

Bridge loans in Michigan

Close quickly on a Michigan property with up to 95% of the cost financed and a 12–18 months interest-only term, then sell it or refinance onto a long-term loan. No prepayment penalty.

Leverage up to95% LTC
Term12–18 months
PaymentsInterest only
Prepayment penaltyNone

Subject to appraisal and underwriting.

Bridge loans: terms and requirements
Short-term

Ground-up construction loans in Michigan

Financing for new builds in Michigan, from spec homes built to sell to rentals built to hold. Every project is quoted on its plans, budget and builder.

Quoted on your deal.

Construction loans: get a quote
Long-term

Multifamily and commercial loans in Michigan

Financing for Michigan apartment buildings of five units or more, mixed-use and commercial property, quoted on the building's income.

Quoted on your deal.

Multifamily and commercial: get a quote

Good to know

Before you buy in Michigan

Local things that change a deal's numbers or its closing date. Check them before you make an offer.
  • Detroit requires rental properties to be registered and inspected before they're rented. Plan the inspection into your timeline.
  • Check for unpaid property taxes on any Detroit purchase. The title search shows them, and they're paid off at closing.

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Have a Michigan property in mind?

Contact details first, then single-tap answers on the property, the amount and when you need to close. A loan officer phones you back with terms.
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United Lending LLC offers business-purpose financing secured by non-owner-occupied investment real estate. We do not offer loans for personal, family or household purposes, or loans on owner-occupied primary residences.

Questions

Loans in Michigan: common questions

Do you offer hard money loans in Michigan?

Yes. United Lending LLC offers private real estate financing for investors in Michigan: short-term fix and flip and bridge loans sized on the deal, 30-year DSCR loans sized on the rent, and construction and multifamily financing quoted per deal. We're headquartered in Brooklyn, New York, and lend nationwide.

Do you lend in Michigan?

Yes. United Lending LLC offers business-purpose financing on investment property across Michigan, including Detroit, Grand Rapids, Lansing and Warren. Tell us the property's address on the form and a loan officer will confirm the details on the first call.

Which loans can I get for a Michigan property?

Fix and flip loans of up to 95% of the price and 100% of the rehab budget, and bridge loans up to 95% loan-to-cost, both on 12–18 months interest-only terms. DSCR rental loans are 30-year loans on 1–4 unit rentals, fixed or adjustable, up to 85% loan-to-value on a purchase and 80% on a cash-out refinance; those are separate limits, not one combined offer. Construction and multifamily loans are quoted per deal. All limits are subject to appraisal and underwriting, and every loan is for property you invest in, not a house you or a relative will occupy.

Is there a prepayment penalty on a Michigan loan?

There's no prepayment penalty on fix and flip or bridge loans. DSCR rental loans come with a choice of prepayment terms, from none up to five years, set out in your written terms before you commit.

Do I need to live in Michigan or have an LLC there?

No. Many of our borrowers invest outside the state they live in. You can borrow in your own name or through an LLC; if the LLC was formed in another state, your loan officer will tell you what's needed before closing.

Where we lend

More states with local pages