Michigan DSCR, Hard Money, Fix & Flip, Construction & Multifamily Loans
Michigan (MI) Underwriting Snapshot (BLUF): Wholesale business-purpose investment property loans in Michigan utilize Non-Judicial (Foreclosure by Advertisement) security instruments, with an average non-homestead effective property tax rate of 1.38%, a median 1–4 unit investment home price of $265,000 (median rent $2,150/mo), and 5+ unit multifamily market rents averaging $1,290/door. Arranged by Loan Daddy LLC (NMLS #2827624).
SECURITY INSTRUMENT
Non-Judicial (Foreclosure by Advertisement)EFFECTIVE PROPERTY TAX
1.38% Avg ($305/mo)MEDIAN 1–4 UNIT PRICE & RENT
$265,000 · $2,150/mo5+ UNIT MULTIFAMILY RENT
$1,290/door/moMichigan Pre-Populated Underwriting Terminal
1–4 Unit PITIA vs. 5–25+ Unit Commercial NOI Simulator
Loan Daddy LLC · NMLS #2827624 · AZ CMB #CMB-2016143 · CA CFL #60DBO-218873 · Canonical Integer _cents & _bps Engine
Price/Door: $265,000·Loan/Door: $198,750·Avg Rent/Door: $2,150/mo
Prepayment Stepdown Structure
Amortization & FICO Tier
Calculated DSCR Coverage Ratio
1.29xCanonical:
129 bps · 7500 bps LTV · 6625 bps RateTier-1 Institutional (1.25x+ — Max LTV & Best Pricing)
Loan Amount (75% LTV)$198,75019,875,000 _cents
Monthly P&I Debt Service$1,273/mo@ 6.625% Note Rate
Total Monthly PITIA$1,670/moTax: $305 · Ins: $93
Net Monthly Cash Flow+$480/mo$5,759/yr net
Wholesale PPE Multi-Option Execution Comparison (Borrower-Paid 2.000% Default · 39 Wholesale Lenders)
| Execution Option | Prepay Structure | Est. Note Rate | Prepay Price Credit | Monthly Debt Service | DSCR Ratio |
|---|---|---|---|---|---|
| Option A: Lowest Rate (60-Mo Stepdown) | 5-4-3-2-1 | 6.625% | -100 bps (-1.000 pt) | $1,670/mo | 1.29x |
| Option B: Balanced Par (36-Mo Stepdown) | 3-2-1 | 6.875% | -75 bps (-0.750 pt) | $1,703/mo | 1.26x |
| Option C: Max Cash Flow (10-Yr Interest-Only) | 3-2-1 IO | 7.000% | +38 bps IO LLPA | $1,557/mo | 1.38x |
Many DSCR lenders focus on the property's rent, not your tax returns. Not all applicants will qualify; terms vary by lender.
Michigan Cities with Population ≥ 50,000 (28 Markets)
Click any Michigan city below to open its localized DSCR & Commercial Multifamily underwriting desk with county property tax rates, median rent benchmarks, and a pre-populated city deal calculator:
| City (MI) | County | 2026 Est. Pop | Effective Tax Rate | Median 1–4 Unit Price | Median Monthly Rent | 5+ Unit Rent/Door |
|---|---|---|---|---|---|---|
| Detroit, MI → | WAYNE County County | 750,684 | 1.35% | $290,000 | $2,400/mo | $1,425/door |
| Grand Rapids, MI → | KENT County County | 209,600 | 1.44% | $295,000 | $2,350/mo | $1,425/door |
| Warren, MI → | MACOMB County County | 147,012 | 1.3% | $245,000 | $2,000/mo | $1,200/door |
| Sterling Heights, MI → | MACOMB County County | 143,034 | 1.32% | $235,000 | $1,900/mo | $1,150/door |
| Ann Arbor, MI → | WASHTENAW County County | 127,557 | 1.41% | $275,000 | $2,200/mo | $1,325/door |
| Lansing, MI → | INGHAM County County | 124,229 | 1.38% | $240,000 | $1,950/mo | $1,175/door |
| Flint, MI → | GENESEE County County | 108,742 | 1.41% | $275,000 | $2,200/mo | $1,325/door |
| Dearborn, MI → | WAYNE County County | 104,514 | 1.35% | $235,000 | $1,950/mo | $1,175/door |
| Livonia, MI → | WAYNE County County | 103,777 | 1.32% | $250,000 | $2,000/mo | $1,225/door |
| Troy, MI → | OAKLAND County County | 90,275 | 1.32% | $250,000 | $2,000/mo | $1,225/door |
| Westland, MI → | WAYNE County County | 90,010 | 1.46% | $265,000 | $2,150/mo | $1,275/door |
| Farmington Hills, MI → | Farmington Hills Metro County County | 88,612 | 1.46% | $265,000 | $2,150/mo | $1,275/door |
| Kalamazoo, MI → | KALAMAZOO County County | 82,347 | 1.44% | $260,000 | $2,100/mo | $1,275/door |
| Wyoming, MI → | KENT County County | 80,769 | 1.27% | $240,000 | $2,000/mo | $1,200/door |
| Southfield, MI → | OAKLAND County County | 79,577 | 1.41% | $275,000 | $2,200/mo | $1,325/door |
| Rochester Hills, MI → | Rochester Hills Metro County County | 79,518 | 1.27% | $240,000 | $2,000/mo | $1,200/door |
| Taylor, MI → | WAYNE County County | 67,381 | 1.27% | $240,000 | $2,000/mo | $1,200/door |
| St. Clair Shores, MI → | St. Clair Shores Metro County County | 65,476 | 1.35% | $235,000 | $1,950/mo | $1,175/door |
| Pontiac, MI → | OAKLAND County County | 65,277 | 1.3% | $245,000 | $2,000/mo | $1,200/door |
| Royal Oak, MI → | OAKLAND County County | 64,251 | 1.35% | $250,000 | $2,050/mo | $1,225/door |
| Novi, MI → | OAKLAND County County | 63,176 | 1.49% | $265,000 | $2,150/mo | $1,300/door |
| Dearborn Heights, MI → | WAYNE County County | 61,716 | 1.41% | $275,000 | $2,200/mo | $1,325/door |
| Battle Creek, MI → | CALHOUN County County | 56,514 | 1.35% | $250,000 | $2,050/mo | $1,225/door |
| Saginaw, MI → | SAGINAW County County | 54,830 | 1.44% | $275,000 | $2,200/mo | $1,325/door |
| Kentwood, MI → | Kentwood Metro County County | 54,754 | 1.44% | $275,000 | $2,200/mo | $1,325/door |
| East Lansing, MI → | INGHAM County County | 52,924 | 1.49% | $265,000 | $2,150/mo | $1,300/door |
| Roseville, MI → | MACOMB County County | 51,835 | 1.38% | $240,000 | $1,950/mo | $1,175/door |
| Portage, MI → | KALAMAZOO County County | 51,800 | 1.27% | $240,000 | $2,000/mo | $1,200/door |