Broker, not a lenderHard Money Lenders inDetroit, Michigan
Fix and flip, DSCR rental and new construction financing for Detroit investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.
Prefer to talk it through? Call or text Micah at (281) 636-5682.
What you get working with us
Price a Detroit deal right now
Prefilled with a realistic Detroit deal. Change any number and it reprices on the programs that lend in Michigan, with the same math as our term sheets.
Sizing your flip on the same terms as the term sheet. Get a real term sheet →
Financing a deal in Detroit
Detroit is two markets inside one city limit. On the northwest side and along the far east side, blocks of solid 1920s and 1930s brick colonials and Tudors sell to owner-occupants who want space they cannot get in the suburbs. A few streets away, the same house can sit next to vacant lots and trade as a cash rental. A Detroit flip works when you buy on the right block, not just in the right neighborhood.
What decides a Detroit deal is the block-by-block spread. Bagley, University District, Rosedale Park and East English Village have finished-house buyers paying several times the citywide median, while houses a mile away barely clear the cost of the rehab. Redfin has the citywide median down 3.0% on a year earlier, which tells you very little about the streets that flip well. Pull your own closed sales on the same few blocks and treat anything outside them as a rental, not a resale.
What a Detroit deal looks like on paper
Detroit example: $115,000 purchase, $60,000 rehab, $265,000 after repair value, 730 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Say a 1930s brick colonial in Bagley, 48221, that needs a kitchen, two baths, a boiler swap and new windows. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.
- Down payment (15% of the purchase)You$17,250
- Origination (0.5%)Lender$2,000
- Lender fees (flat)Lender$1,989
- Broker fee (1%)Broker$2,000
- Title and closing (estimate at Texas rates)Title$3,115
- Prepaid interest (15 days)Lender$381
- Property insuranceInsurer$1,663
- AppraisalAppraiser$550
Interest while you rehab: $773 a month on the $97,750 funded at closing, $1,248 once every draw is out. Proof of funds is cash to close plus $16,200 of rehab reserve and $7,485 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.
What we can fund in Detroit
Swipe the table for rates, credit and terms →
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Best Rate | 15% | 700+ | First flip OK | 8.99% to 9.49% | 0.5% | 70% of ARV | 12 months | 5-14 days |
| First Flip, 10% Down1 | 10% | 660+ | First flip OK | 9.99% | 2% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips2 | 7.5% | 660+ | 3+ completed flips | 9.99% | 1.5% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 5+ Flips3 | 5% | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips4 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
- Rate 9.99% at 2 to 2.25 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
- Rate 9.99% at 1.5 to 1.75 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
- Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
- Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% and 2 to 3 points, set per file. Purchase plus rehab must fit under 70% of ARV.
Origination has a $2,000 minimum on every program and the broker fee is 1% with a $2,000 minimum. These are the numbers the instant term sheet uses as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.
Where Detroit prices sit right now
Before we price a Detroit flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.
Redfin puts the Detroit median sale price at $99,952 for the three months ending September 2026, down 3.0% from a year earlier, with homes selling in about 53 days. That citywide number blends gutted houses with finished ones, so the blocks you buy on matter more than the median.
| Median sale price, Detroit (Redfin, 3 months to Sep 2026) | $99,952 |
| Change from a year earlier (Redfin) | -3.0% |
| Days on market, Detroit (Redfin) | 53 |
Sources: Redfin, Detroit housing market
How a Detroit file actually gets priced
Wayne County appraisals lean hard on the nearest renovated sales, and in Detroit the nearest sale can be a gutted house sold for scrap value. We look for comps on the same side of the main roads (Seven Mile, McNichols, Outer Drive) and ask whether each one was a full investor renovation or an as-is cash sale, because the appraiser will separate them. Houses bought from the Detroit Land Bank Authority come with renovation and occupancy deadlines in the purchase agreement, so the lender reads those terms before closing.
Most Detroit flip stock is 80 to 100 years old: plaster walls, cast iron drains, old boilers and basements that took water in the big summer storms of 2014 and 2021. Budget for a sewer line camera before you buy. Jefferson Chalmers sits in a FEMA flood zone along the canals, so flood insurance is part of the carrying cost there. Rentals need a city rental certificate and a lead clearance for pre-1978 houses before you lease, which matters if the resale stalls and you hold.
Who buys your finished Detroit deal
The Detroit resale buyer in the strong pockets is usually a city employee, a hospital or auto worker, or a first-time buyer using down payment help, and they want the original character kept: woodwork, leaded glass, a working fireplace. Outside those pockets the exit is a rental refinance into a DSCR loan, so price the rent before you price the resale. Michigan uncaps a home's taxable value when it sells, so the tax bill a buyer or a rental will carry is higher than the seller paid.
Your whole loan, in one portal
Apply once and the whole Detroit loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.
What we fund in Detroit
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Detroit.
DSCR Rental
Qualifies on the property’s rent, not your W-2. The usual exit when a flip becomes a hold, and the long-term financing on a BRRRR.
New Construction
Ground-up for builders and infill developers, with a draw schedule matched to the build timeline.
Where we lend in Detroit
We broker deals across the whole Detroit market. These are the submarkets investors ask us about most:
From deal to funded
Send the deal
Address, purchase price, rehab budget and your ARV. About five minutes, no credit pull.
We shop it
Your scenario goes to the lenders in our network that actually fit it and are licensed in Michigan, not all 400 at once.
Real terms back
Rate, origination, leverage and cash to close side by side, so you can compare on total cost.
Close
5-14 days to fund. We stay on title and the lender through funding.
Detroit hard money FAQ
Do you lend hard money in Detroit?
Which fix and flip programs apply in Detroit?
How fast can a Detroit hard money loan close?
How much do I need to bring to close on a Detroit flip?
Do you fund the rehab budget in Detroit?
What credit score do I need for a Detroit fix and flip loan?
Can I refinance a Detroit flip into a rental loan?
Can a first-time flipper get a hard money loan in Detroit?
Will a lender finance a Detroit Land Bank house?
Before you sign anything
More Michigan city guides
Ready to fund your Detroit deal?
Submit your scenario in about 5 minutes. We shop it and come back with real terms, not a generic rate sheet.