Capital Kings LLC · Broker, not a lender

DSCR Rental Loans
in Michigan

Qualify on the rent, not your tax returns. 30 year fixed DSCR loans on Michigan single family, 2-4 unit and short-term rentals, for purchases, rate and term refinances and cash-out. Active in Detroit, Grand Rapids, Lansing and statewide.

By Micah FosterProgram terms verified October 2026

Prefer to talk it through? Call or text Micah at (281) 636-5682.

LansingState capitalThe Great Lakes StateState nickname

DSCR Loans in Michigan at a glance

These are the terms on the programs we're quoting right now. Your actual terms depend on the property, your credit and your experience, and the term sheet shows the real numbers before you commit.

7.00%

Rates from (760+, 70% LTV, 5-yr prepay)

80% LTV

Purchase at 700+ credit

80% LTV

Cash-out at 720+ credit

1.00 DSCR

Minimum ratio

660+

Minimum credit

30 yr

Fixed rate

Programs and pricing

Michigan DSCR rental terms as of October 2026

Same numbers the term sheet prints after you apply. Capital Kings LLC shops your Michigan scenario across 400+ lenders and places it with the one that fits. Read the full DSCR rental guide for how the program works deal by deal.

Rates are 30-year fixed, priced off loan-to-value: 7.00% up to 70% LTV, 7.13% up to 75% LTV, 7.25% up to 80% LTV for a 760+ borrower with a 5-year prepay, plus 0.19% for a rate and term refinance, 0.37% for cash-out (0.77% above 75% LTV) and 0.26% for 2-4 units. No lender origination points. Lender fees about $2,295, plus our 1% broker fee ($2,000 minimum), all itemized on the term sheet. Minimum 1.00 DSCR, minimum 660 credit, minimum $100,000 loan, 3 months of reserves on a purchase and 6 on a cash-out. No W-2s, no tax returns, no debt-to-income ratio.

Credit	Purchase max LTV	Purchase rate at max LTV	Cash-out max LTV	Cash-out rate at max LTV
760+	80%	7.25%	80%	8.02%
740 to 759	80%	7.38%	80%	8.15%
720 to 739	80%	7.61%	80%	8.38%
700 to 719	80%	7.88%	75%	7.82%
680-699	75%	Priced per file	70%	Priced per file
660 to 679	65%	Priced per file	60%	Priced per file

Cash-out refinance on a Detroit rental, 740 credit

$265,000 appraised value · single family · rent covers the payment at 1.00 DSCR or better

Maximum loan (80% LTV): $212,000
Rate (30-year fixed): 8.15%
Lender fees (underwriting, legal, setup): $2,295
Broker fee (1%, $2,000 minimum): $2,120
Principal and interest per month: $1,578
Reserves required: 6 months

Does the rent cover the payment?

Sample rent$2,150

Full payment$2,130

Principal and interest $1,578Taxes and insurance $552, the sheet estimates for Michigan

1.01 DSCR on the sheet: rent divided by the full payment. 1.00 or better qualifies.

Capital Kings DSCR term sheet for a Michigan cash-out refinance: $265,000 value, $212,000 loan at 8.15%, $2,150 monthly rent — The term sheet for this cash-out example: **$265,000** value, 740 credit, a **$212,000** loan at **8.15%**. The sample rent, **$2,150** a month, is the least that covers the full payment at a 1.00 DSCR.

Buying your first rental? See DSCR loans for first-time investors: what it takes with no landlord experience, priced to the dollar. Already own one? See how much cash a DSCR cash-out refinance pulls out.

Who it is for

Michigan investors we fund with DSCR rental loans

Buy and hold investors

Purchase a Michigan rental and qualify on the lease or market rent, with no debt-to-income ratio.

BRRRR and cash-out

Pull equity out of a stabilized rental at up to 80% of appraised value (720+ credit) and keep the property.

Self-employed and W-2 free

No tax returns, no pay stubs, no employment verification. The property carries the file.

Short-term rentals

Airbnb and VRBO income can qualify where the lender accepts projected STR rent.

What we need from you

Lease or market rent estimate
Property taxes and insurance quote
Two months of bank statements for reserves
Government ID
LLC documents if vesting in an entity
Current mortgage statement on a refinance

Choosing a lender

How to pick the best DSCR lender in Michigan

There is no single best DSCR lender in Michigan. The best one is the one whose rules fit your property, your credit and how long you plan to hold. 119 DSCR lenders in our network lend in Michigan, and we price your scenario across them so you compare real term sheets instead of calling each one.

Rate versus prepayment penalty

The lowest rates usually come with a 5 year prepayment penalty. If you might sell or refinance sooner, a shorter prepay at a slightly higher rate can cost less overall.

The minimum ratio

Most lenders want the rent to cover the full payment at 1.00 or better. A few go below that, or skip the ratio, in exchange for lower leverage and a higher rate.

Leverage at your credit score

Max loan moves with credit. In our current pricing a purchase goes to 80% of value at 700+, 75% at 680 and 65% at 660. Compare offers at your real score, not the headline.

Your property type

Short-term rentals, 2-4 units, condos and rural homes each shrink the list of lenders that will do the loan. Ask before you pay for an appraisal.

Fees and reserves

Origination and lender fees vary more than rates do, and most lenders want 3 months of payments in the bank on a purchase. Line up the full cash to close, not just the rate.

Michigan taxes and insurance

The ratio is rent divided by the whole payment, Michigan property taxes and insurance included. A quote built on your real tax bill and insurance quote is one you can count on at closing.

How it works

From application to funding in Michigan

1
Send the property
Address, value or price, rent, taxes, insurance, your credit range and whether it is a purchase or refinance.
2
See the ratio
Rent divided by the full payment (principal, interest, taxes, insurance, HOA). 1.00 or better qualifies.
3
Lock the terms
Rate is set by LTV, credit, purpose and units. Origination and reserves are on the term sheet.
4
Close in 21-30 days
Appraisal with a rent schedule, title and entity docs, then funding. Michigan DSCR loans close without a W-2 ever being requested.

Where we lend

Michigan, city by city

The Michigan markets we fund most. Not on the map? We broker every county in the state, so send the deal and we place it.

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Questions, worked out

The math on common questions

One question per page, answered with a worked example and the real term sheet.

How does BRRRR financing work in Texas? →How much cash do I need to buy a $250K rental with a DSCR loan? →What does a $300K DSCR rental refinance cost? →How much rent do I need to qualify for a DSCR loan? →

Common Questions

Michigan Lending FAQ

What is a DSCR loan in Michigan?

A debt service coverage ratio loan qualifies a Michigan rental on its own income. Monthly rent divided by the full monthly payment (principal, interest, taxes, insurance and any HOA) must be 1.00 or higher. No tax returns, no W-2s, no debt-to-income ratio.

Who are the best DSCR lenders in Michigan?

It depends on the deal. 119 DSCR lenders in our network lend in Michigan, and they differ most on prepayment penalties, the minimum DSCR, leverage at your credit score, short-term rental rules and fees. Capital Kings LLC is a broker, so we price your Michigan scenario across them and place it with the lender whose terms fit, and you compare real term sheets instead of headline rates.

How much can I borrow on a Michigan DSCR loan?

Up to 80% of value on a purchase or rate and term refinance at 700+ credit (75% at 680, 65% at 660), and up to 80% on a cash-out at 720+ (75% at 700, 70% at 680, 60% at 660). Minimum loan $100,000.

What are DSCR loan rates in Michigan right now?

As of October 2026, 30 year fixed rates for a 760+ borrower on a 5-year prepay are 7.00% up to 70% LTV, 7.13% up to 75% LTV, 7.25% up to 80% LTV. Add 0.19% for a rate and term refinance, 0.37% for cash-out (0.77% above 75% LTV) and 0.26% for 2-4 units. No lender origination points. Lender fees about $2,295, plus our 1% broker fee ($2,000 minimum), all itemized on the term sheet.

Can I do a DSCR cash-out refinance in Michigan?

Yes. Cash-out DSCR loans in Michigan go up to 80% of appraised value at 720+ credit, 75% at 700, 70% at 680 and 60% at 660. Seasoning after a recent purchase varies by lender. Rates start at 8.02% on a 30-year fixed for a 760+ borrower, minimum 1.00 DSCR, 6 months of reserves, no tax returns.

What reserves does a Michigan DSCR loan require?

3 months of the full payment in the bank on a purchase and 6 months on a refinance or cash-out. Cash-out proceeds can count toward reserves with most lenders.

Can I close a Michigan DSCR loan in an LLC?

Yes. Most DSCR lenders in our network prefer entity vesting. You sign a personal guarantee, the property is titled to the LLC, and the loan does not report on your personal credit with most lenders.

Other Michigan loan programs

Fix and Flip Loans in Michigan →New Construction Loans in Michigan →All Michigan programs →

Learn More

Michigan Investor Resources

How the loans are structured, what lenders check, and how to compare offers on a Michigan deal.

Adjacent Markets

Also lending in

Ohio →Indiana →Wisconsin →All 38 states →

Founder & CEO

Micah Foster

Micah specializes in Non-QM and hard money lending for real estate investors across 38 states. Based in Texas, he founded Capital Kings to give investors a true broker who shops the market on their behalf instead of pitching one lender's product.

Connect With Micah →

Ready to fund your Michigan deal?

Submit your scenario in about 5 minutes. We shop our 400+ lender network and send back a term sheet on your actual deal.

Start Application →Get a Pre-Approval Letter Calculator

Capital Kings LLC is a non-QM mortgage brokerage. We are not a direct lender. We shop your scenario across a network of state-licensed direct lenders to find the best fit. Loans in Michigan are originated by partner lenders licensed to lend in Michigan. All loans subject to underwriting approval. Rates, terms, and program availability vary by lender and may change without notice. Hard money and DSCR loans are secured by real estate. Not for primary residences.

DSCR Rental Loansin Michigan