Michigan Fix and Flip Lenders
Are you flipping residential properties in Michigan? On this page you'll find a list of fix and flip lenders throughout Michigan. Fix & flip lending is only for residential properties with 1-4 units. We have a separate page for lenders that offer rehab/value-add financing for other property types. The maximum loan-to-after repair value (LTARV) for most lenders in Michigan is 70%. You typically need some cash for the purchase (15%-20%) and some cash reserves.Searching...
Sorry, your search returned no results.
Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Funded Fix & Flip Loans in Michigan
Park Place Finance, a direct private real estate lender, funded a $455,000 1st lien position fix and flip loan for a single-family home in Harbert, which is located in the Southwestern part of Michigan, very close to Indiana. The property is just one block from the waterfront of Lake Michigan. We funded 75% of the purchase price and 100% of the $56,700 renovation budget. The after-repair value was estimated at $650,000, so our loan-to-after-repair value was 70%. This is the Borrower’s third house flip project. The plan is to perform a cosmetic overhaul on the property, which is expected to take around 3 months. They intend to sell the home for a healthy profit upon completion. The interest rate was 11.99% and the loan terms were our standard 12-month term loan with interest-only payments and no prepayment penalty. This SFR fix and flip loan was funded in January 2024.