Where we finance

Hard Money Loans in Michigan

Apex Capital Advisors arranges hard money and other business-purpose financing for Michigan investors, from Detroit bungalows and two-family flats to Grand Rapids Victorians and Warren ranches. We offer fix and flip, DSCR rental, bridge and new construction loans, with term sheets in 12 to 24 hours.

Discuss your deal All 36 states and Washington, D.C.

Fix & Flip
DSCR Rental
Bridge
New Construction

The lay of the land

Investing in Michigan

Michigan's investor markets follow the auto industry and the Great Lakes. Southeast Michigan takes in Detroit and its Wayne, Oakland and Macomb county suburbs, home to General Motors, Ford, Stellantis and their parts suppliers. West Michigan centers on Grand Rapids, with health care, office furniture and food companies, and reaches the lakeshore at Holland and Muskegon. Lansing, the state capital, and Michigan State University anchor mid-Michigan. Up north, lake towns such as Traverse City and Petoskey draw seasonal buyers and vacation renters.

The older cities grew up with the auto industry, and their housing shows it: brick bungalows and two-family flats in Detroit, Victorians and foursquares in Grand Rapids, post-war ranches in Warren and Livonia. New subdivisions spread through Oakland, Macomb, Livingston and Ottawa counties. Long, snowy winters are hard on roofs, foundations, sewer lines and old boilers. Investors here typically renovate older houses, hold them as rentals or build on the suburban edge.

Loan programs

Loan Programs in Michigan

Four ways to finance an investment property in Michigan, each sized to the deal rather than a fixed product.

Short-term project capital

Fix and Flip Loans in Michigan

Michigan flips usually start with an older house and a long systems list. A Detroit bungalow may need a boiler, wiring, a sewer line scope and basement waterproofing. A Grand Rapids Victorian can hide old plumbing and lead paint behind plaster. The state licenses residential builders and maintenance and alteration contractors, so check the license on every bid.

Our hard money fix and flip loans fund up to 92.50% of total cost and up to 100% of the rehab budget. The minimum FICO is 650, with lower scores considered case by case.

Newbies are welcome
Up to 92.50% Loan to Cost (LTC)
Up to 100% of rehab budget

Fix and flip loan details

Long-term rental financing

DSCR Rental Loans in Michigan

Michigan rental demand follows jobs: auto plants and engineering centers around Detroit and Warren, hospitals and universities in Detroit, Grand Rapids and Ann Arbor, and state government in Lansing. Common DSCR properties include Detroit two-family flats, Grand Rapids duplexes, Warren ranches and lake cottages up north rented by the week.

Our DSCR loans are qualified on the property's cash flow, with no personal-income verification, ratios as low as 0.75x considered, loan amounts from $100K to $3M+ and 30-year fixed and ARM options. Cash-out refinancing goes up to 80% LTV, and long-term and short-term rentals are eligible. Reaching the full 80% takes a stronger DSCR and credit score than the program minimums, so leverage on each file is set by its DSCR and credit.

Qualified on the property's cash flow, not your personal income
No traditional employment or personal-income verification
Cash-out refinance LTV up to 80%

DSCR rental loan details

Interim financing

Bridge Loans in Michigan

A hard money bridge loan fits Michigan deals where timing is the problem: a vacant Detroit two-family that must pass the city's rental inspection before it can be leased and refinanced, a Grand Rapids duplex bought before your last flip sells, an estate house in Livonia that needs work before a bank will lend, or an Ottawa County lot held while site plans and permits are approved.

Terms are set deal by deal, and experienced and first-time sponsors are both considered. The usual exit is a sale or a DSCR refinance.

Structured for transactions that cannot wait
Property in transition, lease-up or repositioning
Terms set deal by deal rather than to a fixed product

Bridge loan details

Ground-up construction

New Construction Loans in Michigan

New subdivisions in Michigan cluster on the suburban edge: Macomb and Shelby townships, Lyon Township in Oakland County, Livingston County, the townships around Ann Arbor, and Ottawa County communities such as Hudsonville and Allendale. Footings go below the frost line, and pouring concrete in deep winter costs time, so plan to have the house closed in before the snow.

Our hard money construction loans fund up to 100% of the construction budget, assess lot cost and build budget together, and release capital in stages against progress. Approved plans are needed before closing and permits before the first draw.

Up to 100% of the construction budget
Land or lot cost and build budget assessed together
Capital released in stages against construction progress

New construction loan details

Program terms are general guidelines, not a quote or commitment. Every loan is subject to underwriting and approval and is for business purposes only.

Local markets

Where We Finance in Michigan

Apex offers loans statewide. These markets are a starting point, not a limit.

Detroit

Detroit's neighborhoods are known for brick bungalows, Tudors and two-family flats. Grandmont-Rosedale, East English Village, Bagley and the University District have brick houses that suit flips. Wayne State University and the Detroit Medical Center anchor Midtown, Henry Ford Health sits in New Center, and Ford's Michigan Central Station has drawn new investment to Corktown. Detroit Land Bank Authority auction and Own It Now houses come with renovation deadlines, and the land bank can take back a house that is not brought into compliance. Rentals need city registration, an inspection, lead clearance for older homes and a certificate of compliance.

Grand Rapids

Grand Rapids is West Michigan's hub. The Medical Mile on Michigan Street holds Corewell Health hospitals, the Van Andel Institute and Michigan State University's medical school, and Grand Valley State University has a downtown campus. Heritage Hill, east of downtown, has large Victorian and Prairie-style houses, some split into apartments. Eastown, Midtown and Creston have foursquares, bungalows and older duplexes. Lake-effect snow is hard on roofs and gutters. Rentals must be registered every year, inspected and certified by the city, so build that into any plan to renovate and rent.

Warren

Warren sits in Macomb County along Detroit's northern border and grew up after the war. Expect brick ranches and bungalows on modest lots, often with basements, older electrical panels and aging sewer lines. The General Motors Technical Center, the U.S. Army's Detroit Arsenal and Stellantis's Warren Truck plant sit along the Mound Road and Van Dyke corridors. A typical flip updates the kitchen, baths, windows, mechanicals and roof. A rental needs a city license, which requires an inspection and payment of any unpaid property taxes, water bills or other city charges.

Ann Arbor

Ann Arbor is a university city. The University of Michigan and Michigan Medicine drive the economy, and students and hospital staff keep rental demand steady. Near Central Campus, Kerrytown and the Old West Side, Craftsman houses, foursquares and Victorians are common, some divided into student units. With little open land, new construction in the city is usually infill or a teardown, while subdivisions go up in Pittsfield and Scio townships. No unit may be leased without a city certificate of compliance, and in residential zones only an owner's principal residence can apply for a short-term rental license.

Before you buy

What Investors Should Know About Michigan

Foreclosure by advertisement, then redemption

A Michigan mortgage with a power of sale can be foreclosed by advertisement, without a lawsuit: weekly newspaper notice, a notice posted on the property and a sheriff's sale. The former owner can redeem for a statutory period that depends on the property type, how much of the debt is owed and whether the home is abandoned. The buyer does not own the property until it ends.

Taxable value uncaps after a sale

Michigan caps yearly growth in taxable value while one owner holds a property. A sale ends the cap, and the next calendar year taxable value resets to the state equalized valuation. The principal residence exemption from local school operating taxes requires the owner to live in the home, so an investor's rental pays them.

Rental licenses, but no rent control

Detroit, Grand Rapids, Warren and Ann Arbor each require rentals to be registered or licensed and to pass a city inspection, and Detroit also requires lead clearance on older homes. Warren will not license a rental while city charges on it are unpaid. State law bars local governments from controlling rents on private residential property.

Construction liens and sworn statements

An unpaid contractor, supplier or laborer can record a construction lien with the county register of deeds within a statutory window after its last work, and subcontractors, suppliers and laborers must have served a notice of furnishing. A general contractor must give the owner a sworn statement listing them when it asks for payment. Collect sworn statements and lien waivers with every draw.

General information, not legal or tax advice. Laws and rates change; confirm the details with a licensed attorney or tax professional in Michigan.

Questions

Michigan Hard Money Loan FAQs

Not answered here? Call +1(551) 321-5995 or read the full FAQ.

Do you make hard money loans for Detroit rehabs?

Yes. Our fix and flip loans fund up to 92.50% of total cost and up to 100% of the rehab budget, and first-time investors are welcome. The minimum FICO is 650, with lower scores considered case by case. Detroit houses often need full rehabs, so bring a detailed scope and contractor bids.

Can I take over a house right after a Michigan sheriff's sale?

Usually not. After a mortgage foreclosure sale, the former owner has a statutory redemption period, and the buyer does not own the house until it ends. Tenants may have further protection after that, so build the wait into the plan before you bid.

Will property taxes go up after I buy a Michigan rental?

They can. Taxable value uncaps the year after a sale, and a rental does not get the principal residence exemption from school operating taxes. Ask the assessor for the state equalized valuation and run DSCR numbers on your future tax bill, not the seller's.

Can I use a DSCR loan on a Michigan short-term rental?

Yes, short-term rentals are eligible. Check local rules before you buy, since they differ from town to town in Michigan. Ann Arbor, for example, requires a short-term rental license and, in residential zones, takes applications only for an owner's principal residence.

Do you lend outside Detroit, Grand Rapids, Warren and Ann Arbor?

Yes. Apex offers loans statewide, including Lansing, Flint, Kalamazoo, Dearborn, Livonia, Sterling Heights, Troy, Holland, Traverse City and the Upper Peninsula. Term sheets go out within 12 to 24 hours, and qualified deals with complete documents can fund in as fast as 15 days.

Beyond the state line

Nearby States We Serve

Investing on both sides of the border? The same programs and the same team cover the states around Michigan.

All 36 states and Washington, D.C.

Next step

Financing a Property in Michigan?

Send us the property, the plan and the timeline. We will tell you what is realistic and what we need to issue a term sheet.

Discuss your deal +1(551) 321-5995