Michigan DSCR Loans
EasyRent is our tailored and industry-leading DSCR Loan solution for Michigan real estate investors. Whether you are acquiring property to expand your portfolio or cashing out your capital in a refinance, we have a loan for you. Our DSCR Lending Program has solutions for anyone – from first-time investors to industry veterans looking to rapidly scale their portfolios. We are confident we can find you a great Michigan DSCR loan in a quick, efficient and easy process. Click the button below and get started today!
Need a DSCR Loan in Michigan?
Got any questions?
What is a DSCR Loan?
A DSCR Loan is a mortgage loan for a residential income-producing property. It is primarily based on the “Debt Service Coverage Ratio” or the cash flow of the property, rather than the borrower’s income. A traditional mortgage loan will require income verification, tax returns and a “Debt-to-Income” (DTI) ratio. DSCR Loans require none of these! Perfect for real estate investors ready to scale (no more W2!) or are looking leave behind the hassle, paperwork and headaches of conventional financing, DSCR Loans are quickly becoming the go-to loan option for real estate investors.
For a comprehensive definition, “DSCR Loans are mortgage loans secured by residential real estate turnkey properties strictly used for a business purpose and underwritten primarily based on the property.”
DSCR Loan Definition Breakdown
- Mortgage Loans = form of loan that is secured by collateral, collateral = real estate
- Residential Real Estate = properties used for people to live in vs. commercial, which is used to operate businesses (offices, retail, industrial, hotel, self-storage, etc.). In real estate finance, residential also typically refers to “1-4 unit” properties, anything more would be considered “multifamily”
- Business Purpose = DSCR loans strictly do not allow the owner of the property to live in the property, it must be used for “business” or investment purposes. Includes use of “cash-out proceeds”
- Underwritten = How lender evaluates (and then prices) the risk of the loan
- Primarily Based on Property = Mostly based on property, but also look at sponsor
- Turnkey = property doesn’t require any renovation, “turn the key and go”
Looking to get a deeper understanding of all things DSCR? Check out our DSCR Loans Guide below!
Michigan Recent DSCR Fundings
Real Investments. Real Results.
Real estate investors in The Great Lake State are turning to DSCR Loans as a strategic tool to expand and manage their investment property portfolios. DSCR loans allow investors to secure financing based on the property's ability to generate income (rather than an investor's individual credit profile). In a market like Michigan, where real estate prices have shown steady growth and rental demand remains steady, DSCR loans offer investors a flexible and effective means to acquire new properties, improve existing ones, or refinance their assets. Easy Street Capital is proud to be a leading provider of DSCR loans for Michigan real estate investors looking to build rental portfolios! Check out our most recently funded DSCR loans in Michigan below:
Single-Family Residence
Norton Shores, MI
$455,250 Michigan DSCR Rental Loan for a Cash-Out Refinance of a rental property in Norton Shores. This short-term rental underwent extensive remodeling with updates made to the kitchen and bathrooms, electrical, plumbing, flooring, and more. In addition, Mona Lake is a short two-mile drive southwest where boating, fishing, and waterfront parks are found.
Single-Family Residence
Grandville, MI
$196,000 Michigan DSCR Rental Loan for an Acquisition of a rental property in Grandville. Recent renovations of this property include new plumbing and electrical work, replacement of kitchen finishes and appliances, an updated shower, and fresh interior paint. Upon acquisition, the residence will be utilized as a short-term rental.
Single-Family Residence
Linden, MI
$513,000 Michigan DSCR Rental Loan for a Rate-Term Refinance of a rental property in Linden. Situated on the north end of Lobdell Lake, this property features a beam pole barn with a covered patio, a hot tub, an outdoor fire pit, lakefront views, and an outbuilding with a pool table and additional space for recreation.
Single-Family Residence
Union Pier, MI
$840,000 Michigan DSCR Rental Loan for a Cash-Out Refinance of a rental property in Union Pier. This short-term rental features a recently updated kitchen, a hot tub, screened porched, and accessory unit deck. Located five miles north of New Buffalo, Union Pier is a popular lakeside destination known for its beautiful beaches, stunning views, and local wineries.
Duplex
Detroit, MI
$94,500 Michigan DSCR Rental Loan for a Cash-Out Refinance of a rental property in Detroit. This Colonial-style property is located in a cozy, safe neighborhood filled with other historic bungalows and colonial-style homes that have been converted into duplexes.
Cash-Out Refinance
Midland, MI
Experienced borrower plans to use proceeds from their cash-flowing 8-unit property to expand their Michigan portfolio.
Apply Today
Take the next step in your investment journey with a trusted, reliable lender that has your best interest in mind. Get in touch or request a quote today.