Hard Money Lenders in Detroit, MI | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard 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.

Get a term sheet →Price a Detroit deal

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

Reviewed by Micah Foster, Founder & CEO, October 2026

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, 700 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.

Loan amount$157,750
Cash to close$28,948
Proof of funds to show$52,633
Where the $28,948 goes
  • 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.

Fix and flip programs in Detroit

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Best Rate15% of purchase700+First flip OK8.99% to 9.49%0.5%70% of ARV12 months5-14 days
First Flip, 10% Down110% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips40% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
  1. Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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.
  2. Rate 9.99% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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.
  3. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  4. Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use 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.

What happens after you apply

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.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Detroit

Fix and flip

10%down on a first flip
Rates
from 8.99% at 760+ credit
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Michigan →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Michigan →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Michigan →

Where we lend in Detroit

We broker deals across the whole Detroit market. The submarkets investors ask us about most are Bagley and University District (48221), Rosedale Park and Grandmont (48223), Warrendale (48228), Morningside and East English Village (48224) and Jefferson Chalmers (48215).

How long does a Detroit loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Michigan, and the rate, origination, leverage and cash to close come back side by side. 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?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Detroit scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in Michigan, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Detroit?
As of October 2026: Best Rate (15% down, from 8.99%); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can a Detroit hard money loan close?
Most Detroit fix and flip files fund in 5-14 days once the file is complete. The First Flip, 10% Down program and the 7.5% Down, 3+ Flips program close in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on a Detroit flip?
The worked example on this page is a $115,000 Detroit purchase with a $60,000 rehab and a $265,000 after repair value at 700 credit, first flip: $17,250 down (15% of the purchase) and $28,948 total cash to close, with $52,633 of proof of funds to show the lender. The lowest down payment for a first flip in Detroit is 10% down from 9.99% at 660+ credit. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in Detroit?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for a Detroit fix and flip loan?
The lowest credit floor among the Detroit programs is 620, on 100% financing (under 70% of ARV) with 2+ completed flips. A first flip needs 660 or higher. The lowest rate here, 8.99%, needs 760+ credit. Depending on the program, rates step down at 760 credit and origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance a Detroit flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Detroit flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Can a first-time flipper get a hard money loan in Detroit?
Yes, as long as the loan is business purpose and closes in an LLC on a house nobody will live in. In Michigan a first flip can be priced at 15% down with 700+ credit (from 8.99%) or 10% down with 660+ credit (from 9.99%). Programs that need completed flips: 7.5% down from 9.99% with 3+ flips; 5% down from 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV. The programs table on this page shows what applies at your credit and experience.
Will a lender finance a Detroit Land Bank house?
Often, yes. The Land Bank sale comes with a renovation and occupancy timeline, so the lender wants to see that your rehab schedule and draw plan fit inside it. Send us the purchase agreement with the budget and we will match the file to a lender that is comfortable with those terms.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.

What to read before you sign a term sheet

Hard money near Detroit: Ann Arbor, Flint and Toledo. More Michigan city guides: Grand Rapids, Kalamazoo and Lansing. Or see everything we fund in Michigan.

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