Michigan hard money is asset-based bridge capital: decisions hinge on the deal and the exit, not on W-2 income. From Detroit to Grand Rapids, it funds the deals that need to close before a bank could even order an appraisal.
What Michigan investors use hard money for
- Bridge between purchase and permanent financing or sale
- Distressed / non-warrantable assets a conventional lender will not touch
- BRRRR starts — acquire and rehab, then exit to Michigan DSCR
- Estate and probate acquisitions in Detroit that need certainty of funds
Why speed matters here: Michigan foreclosure is non-judicial — foreclosure by advertisement is fast, with a statutory redemption period. Asset-based capital lets you act on that inventory before financed buyers can.
Michigan hard money terms (2026)
| Term | Michigan range |
|---|---|
| Leverage | Up to ~90% of purchase + rehab, capped to ARV |
| Rate | Interest-only, ~10%–13% + points |
| Term | 6–18 months |
| Close | As fast as 7–14 days |
| Basis | Asset-based; $125,000 – $285,000 typical ARV |
Michigan metros we fund
| Metro | Typical basis | Rent band | On-the-ground notes |
|---|---|---|---|
| Detroit | $90K–$220K | $1,050–$1,500 | rental registration required; panel and HVAC draws sequence first |
| Grand Rapids | $240K–$340K | $1,500–$2,000 | appreciation market with diverse employment |
Michigan levies state income tax (flat 4.25%); structure the hold or flip exit with that in mind.
Diligence before you fund in Michigan
Underwrite local risk honestly in Michigan:
- Lead and panel/HVAC age in Detroit stock
- Winterization risk on vacant rehabs
What we need to issue a Michigan term sheet
- Proof of funds for down payment and reserves
- Comps or a desktop valuation toward ARV
- Purchase contract or auction confirmation
- A credible exit — resale comps or projected rent
- Scope of work and rehab budget
Clean documents on these points are what compress a Michigan closing to days, not weeks.
Recent Michigan deal
Detroit duplex rehab funded at 88% LTC with panel and HVAC draws before kitchen finish. Asset and exit drove the approval — not a personal income file.
Define the exit before you borrow
Hard money is a bridge, not a destination. In Michigan that means one of two exits:
- Resale — finish and sell via fix and flip loans Michigan economics
- Refinance — stabilize and hold with a Michigan DSCR loan
Michigan DIFS regulates mortgage activity; Detroit rental registration required for lease-up.
Michigan hard money FAQ
How fast can a Michigan hard money loan close?
With clear title and a workable scope, Michigan deals can fund in roughly 7–14 days — fast enough for Detroit auction and estate deadlines.
What leverage do Michigan hard money lenders offer?
Commonly up to ~90% of purchase plus rehab, capped against ARV (often the $125,000 – $285,000 band in Michigan). Pricing reflects speed and asset risk, not your credit score alone.
What is the exit on a Michigan hard money loan?
Either resale via fix and flip, or refinance into a Michigan DSCR loan on stabilized rent. Define the exit before you fund.
Get Your Michigan Hard Money Quote · (833) 264-7776
Rates, terms and conditions offered only to qualified borrowers and are subject to change at any time without notice. All loans are subject to full underwriting. Jaken Finance Group only finances non-owner occupied investment properties.