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✦Prime Rate:7.00%✦Fed Funds:3.75%✦5 Yr Treasury:5.00%↓✦10 Yr Treasury:5.21%↓✦30 Yr Treasury:5.56%↓✦30 Yr Mortgage:7.40%·Updated Oct 13, 2026✦Prime Rate:7.00%✦Fed Funds:3.75%✦5 Yr Treasury:5.00%↓✦10 Yr Treasury:5.21%↓✦30 Yr Treasury:5.56%↓✦30 Yr Mortgage:7.40%·Updated Oct 13, 2026
Rates

Michigan DSCR Loans: No Tax Returns, 1.2 DSCR Min, Rates from 5.80%

Rental property financing for Michigan investors qualified on property cash flow, not personal income, W 2s, or tax returns. Serving Detroit, Grand Rapids, Warren, Ann Arbor and the rest of Michigan. If the property cash flows at 1.2× the mortgage, you may qualify.

  • 1.2 DSCR minimum
  • Credit is lender underwriting
  • Best tier from 5.80%
  • 21 to 30 day close

Indicative as of October 1, 2026. Not a quote. Lenders set final pricing at underwriting.

Talk to PeerSenseCalculate Your DSCR

Can I get a DSCR rental loan in Michigan?

Yes. DSCR loans in Michigan qualify investors based on property cash flow with a 1.2 DSCR minimum. Credit and equity injection are lender underwriting. PeerSense does not set a FICO floor. No tax returns, W 2s, or DTI calculation required. 1 to 4 unit residential and 5+ unit multifamily eligible. Governed best tier floor 5.80% from rate-floors.json.

Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. Updated October 1, 2026.

Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.

Michigan Rental Market Snapshot

State level data DSCR underwriters use to size Michigan rental deals.

Median Home Price
$245K
Statewide single family
Gross Rental Yield
7.0 to 11.0%
Annual rent / price
Eviction Timeline
30 to 45 days
landlord-friendly
Rate Adjustment
neutral
vs national baseline

Michigan is a yield extreme DSCR market. Detroit MSA produces 10 to 13% gross yields on stabilized SFR but the city's assessment/market spread and condition risk require institutional quality underwriting. Grand Rapids and Ann Arbor anchor stable LTR demand (medical, automotive supplier, U of M). Warren and the outer Detroit suburbs offer middle ground cap rates with deeper BRRRR inventory.

Major Michigan Markets We Serve

Active DSCR deal flow across Michigan's core rental markets. Same DSCR math statewide. Credit and equity injection are lender underwriting.

MetroMedian PriceGross YieldDSCR Investor Notes
Detroit$165K10.0 to 13.0%Highest gross yields in any major US metro, institutional grade underwriting required
Grand Rapids$305K6.5 to 8.0%Furniture/medical employment, stable LTR demand, premium suburban pricing
Warren$235K7.5 to 9.0%Outer Detroit suburb, automotive supplier base, deep BRRRR inventory
Ann Arbor$525K4.5 to 5.5%U of M demand, premium LTR pricing, student housing yield premium
Michigan investor note:Michigan has no statewide rent control (preempted by 1988's Public Act 226). Detroit produces the highest gross yields of any major US metro on stabilized inventory; condition risk and assessment vs market spread require careful underwriting.

Michigan Eviction Timeline & Landlord Posture

How Michigan courts handle non payment evictions, material to DSCR loss severity assumptions.

Posture
landlord-friendly
Typical Timeline
30 to 45 days
Rent Control
None / preempted

Michigan requires a 7 day notice for non payment. 36th District Court (Detroit) and circuit level filings typically schedule hearings within 10 to 14 days. Among the faster eviction processes in the Midwest.

Michigan Rate Adjustment vs National Baseline

neutralover national baseline pricing

Sub jumbo Detroit loan sizes track non QM curves; rent control preemption and fast eviction process reduce loss severity.

Final pricing depends on DSCR, LTV, property type, and program. Credit is lender underwriting. Governed best tier floor 5.80% from rate-floors.json as of October 1, 2026.

DSCR Lenders Active in Michigan

The non bank DSCR programs we see most frequently funding Michigan rental deals. PeerSense matches your scenario across this lender set rather than locking you into one.

  • Kiavi
  • Visio Lending
  • Lima One
  • RCN Capital
  • Easy Street Capital

PeerSense sources capital through a curated network of commercial lenders and capital sources. Lenders listed are programs we have funded Michigan deals through; specific terms vary by file.

Michigan DSCR Loan Requirements

RequirementMinimumNotes
DSCR1.201.00+ exists on specialty programs. Credit and equity are lender underwriting.
CreditLender underwritingPeerSense does not set a FICO floor. Capture the score on the form.
EquityLender underwritingPurchase DSCR is commonly structured around 65 to 75% LTV. PeerSense does not set a typical down.
Property Type1 to 4 units or multifamilyCondos, townhomes, STRs OK where legal
Income DocsNoneNo tax returns, W 2s, DTI check
Reserves6 months PITIAChecking, savings, stocks qualify
Close Time21 to 30 daysCash out refi: 14 to 21 days

Not a commitment to lend. Rates and terms subject to underwriting. See our full DSCR loan guide for the complete program.

Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.

Get Michigan DSCR Loan Terms

DSCR Rental: The desk will reach out. No obligation.

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